Rajandran R FollowCreator of OpenAlgo - OpenSource Algo Trading framework for Indian Traders. Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Building Algo Platforms, Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in
Silver Momentum Pullback Trade Setup
22 sec read
After a significant momentum in Silver 11.77 to 29.85 silver started correcting in the month of Sep 2020 towards 21.66. Last week silver dropped 14.5% which offers a potential momentum pullback trade setup towards the continuation of the previous uptrend.
Immediate support zones are around 23.05 levels and silver could potentially target 24.5 and 25 levels going forward in a very short term. Extreme downside sentiment is getting digested by the markets and could bring a potential short term trading opportunity here.
MCX Silver Daily Charts
Supports for MCX Silver on the other hand comes around 58275 levels and 62500 and 64000 are the immediate targets to consider for the current pullback trade setups.
Related
Rajandran R FollowCreator of OpenAlgo - OpenSource Algo Trading framework for Indian Traders. Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Building Algo Platforms, Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in
Gold is a one trading instrument where fundamentals are outlawed while inflation is skyrocketing and globally Central banks are racing for the interest rate...
