Silver’s trailing stop triggered
It is tricky trading in these ranging markets. They will not always move sideways and I thought I might have joined a trend when silver briefly broke higher this morning. That enabled me to place a breakeven which was triggered a few hours later when Wall Street rallied on the retail sales data. For the record, my purchase of March silver at 20.135 on 2nd January was stopped out on Tuesday at 20.15. These prices include all spread-bet dealing costs.
While today’s small upside failure in silver is disappointing, I think the odds are now better than 50/50 that silver and gold will trend higher in the short to medium term, following the recent leads of platinum and palladium. Disciplined leveraged trading is often a matter of looking silly most of the time, waiting to catch the next winner.Back to top