{"id":59683,"date":"2012-03-21T10:07:12","date_gmt":"2012-03-20T23:07:12","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2012\/03\/21\/silver-channels-lower-during-40-downtrend\/"},"modified":"2012-03-21T10:07:12","modified_gmt":"2012-03-20T23:07:12","slug":"silver-channels-lower-during-40-downtrend","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2012\/03\/21\/silver-channels-lower-during-40-downtrend\/","title":{"rendered":"Silver Channels Lower During 40% Downtrend"},"content":{"rendered":"

\n\tBy Walker England, Trading Instructor, FXCM<\/span><\/p>\n

\n\tSilver continues to form lower lows from its April 2011 high of $49.78 ozt<\/span>. During this descent, Silver has moved as much as 40 % lower throughout the year to $26.05. A price channel has emerged with a fresh test of resistance at $37.48 on February 29th<\/span>. We can see price being contained by support and resistance as it continues its trajectory lower. As price trades under the main trend line we will keep a bearish trend bias on silver and look for selling opportunities.<\/p>\n

\n\t\"\"<\/p>\n

\n\tMoving into today’s 4Hr<\/span> chart, we can begin to see price move back to short term support created on January 25th<\/span> at $31.54. Trading breakouts can allow us to enter into the market with the creation of new lows back to longer term support. Once entered into the trade, stop orders can be left above the previous high. Using breakouts to enter trends can keep us out of unwanted trades as well. If price begins bouncing off support over $33.07 we can simply delete our sell entry.<\/p>\n

\n\t\"\"<\/p>\n

\n\tMy preference is to create an entry to sell silver under support. Orders should be placed under $31.40. Stops should be set above $33.06. Primary limits should look for a minimum of $1.65 profit at $29.75 for a 1:2 Risk\/Reward <\/a>ratio. Secondary targets can look for the channel low near $22.15.<\/p>\n

\n\tAlternative scenarios include price breaking over short term resistance testing new highs.<\/p>\n

\n\tThe views expressed are not FNArena's<\/span> (see our disclaimer).<\/p>\n

\n\tFor real time news and analysis, please visit http:\/\/www.dailyfx.com\/real_time_news<\/p>\n

\n\tDailyFX<\/span> provides forex<\/span> news on the economic reports and political events that influence the currency market. Learn currency trading with a free practice account and charts from FXCM<\/span>.<\/p>\n

\n\twww.dailyfx.com<\/p>\n

\n\tDisclaimer<\/strong><\/em><\/p>\n

\n\tForex<\/span> Capital Markets is headquartered at Financial Square 32 Old Slip, 10th<\/span> Floor, New York, NY 10005 USA.<\/u><\/em><\/p>\n

\n\tTrading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before you decide to trade the foreign exchange products offered by Forex<\/span> Capital Markets, LLC, Forex<\/span> Capital Markets Limited, inclusive of all EU branches, FXCM<\/span> Asia Limited, or FXCM<\/span> Australia Limited, any affiliates of aforementioned firms, or other firms under the FXCM<\/span> group of companies [collectively <span class="scayt-misspell" data-scayt_word="" fxcm"="" data-scaytid="37"><span data-scayt_word="“FXCM" data-scaytid="26">“<span class="scayt-misspell" data-scayt_word="FXCM" data-scaytid="33">FXCM<\/span><\/span><\/span> Group”] you should carefully consider your objectives, financial situation, needs and level of experience. If you decide to trade foreign exchange products offered by <span data-scayt_word="FXCM" data-scaytid="27">FXCM<\/span> Australia Limited you must read and understand the Financial Services Guide and the Product Disclosure Statement. <span data-scayt_word="FXCM" data-scaytid="28">FXCM<\/span> Group may provide general market information and commentary which is not intended to be investment advice and the content of this email must not be construed as personal advice. By trading, you could sustain a total loss of your deposited funds and therefore, you should not speculate with capital that you cannot afford to lose. You should be aware of all the risks associated with trading in foreign exchange products. Foreign exchange products are only suitable for those customers who fully understand the market risk. <span data-scayt_word="FXCM" data-scaytid="29">FXCM<\/span> recommends you seek advice from a separate financial advisor.<\/em><\/p> <p> <em>FXCM Group assumes no liability for errors, inaccuracies or omissions in these materials and does not warrant the accuracy or completeness of the information, text, graphics, links or other items contained within these materials. FXCM Group shall not be liable for any special, indirect, incidental, or consequential damages, including without limitation losses, lost revenues, or lost profits that may result from these materials. This email is not a solicitation to buy or sell currency. All information contained in this e-mail is strictly confidential and is only intended for use by the recipient. All e-mail sent to or from this address will be received by the FXCM corporate e-mail system and is subject to archival and review by someone other than the recipient.”<\/em><\/p> <p> <strong>Technical limitations<\/strong><\/p> <p> <strong><span style="font-style: italic">If you are reading this story through a third party distribution channel and you cannot see charts included<\/span><em>, we apologise, but technical limitations are to blame.<\/em><\/strong><\/p> <p><\/p><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Market analysts at FXCM note silver continues to channel lower.<\/p>\n","protected":false},"author":9,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[22],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/59683"}],"collection":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=59683"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/59683\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=59683"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=59683"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=59683"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}