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Rabu, 22 Februari 2012

Analysis Silver - 23 Feb 0745

SILVER (Spot) intraday: the bias remains bullish.
Update on supports and resistances. ( 23/02/2012 07:45 )




Pivot: 33.80

Our Preference: LONG positions above 33.8 with 34.5 & 34.85 in sight.

Alternative scenario: The downside penetration of 33.8 will call for a slide towards 33.34 & 33.

Comment: the RSI is mixed to bullish.

Trend: ST Bullish; MT Range

Key levels Comment

35.3**
34.85*
34.5*

34.33 Last

33.8**
33.34**
33**


TIPS:

Never risk more than 2-3% of the total trading forex account One important difference between a successful and an unsuccessful forex trader in forex Market is that the first is able to survive under unfavorable conditions on the forex market, while an unsuccessful forex trader will blow up his account after 5-10 unprofitable trades in the row.

Even with the same trading system 2 forex traders can get opposite results in the long run. The difference will be again in money management approach. To introduce you to money management, let's get one fact: losing 50% of total account requires making 100% return from the rest of money just to restore the original balance.

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