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Khamis, 23 Februari 2012

Analysis Silver - 231 Feb 1003

SILVER (Spot) intraday: the bias remains bullish.
Update on supports and resistances. ( 23/02/2012 10:03 )




Pivot: 34.15

Our Preference: LONG positions above 34.15 with targets @ 34.85 & 35.3.

Alternative scenario: The downside penetration of 34.15 will call for a slide towards 33.85 & 33.34.

Comment: the immediate trend remains up and the momentum is strong.

Trend: ST Bullish; MT Range

Key levels Comment

35.5**

35.3**

34.85*

34.669 Last

34.15**

33.85**

33.34**



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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