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Another Golden Trade In Silver (March-April 2016)
Metals  |  Fri - April 22, 2016 6:38 pm  |  Article Hits:298  |  A+ | a-

Break out of 16.2 resistance level in Silver

After reading several controversial articles at various blogs, I decided to examine the silver chart in more detail, and found that 16.2 resistance level as said soon would be penetrated. Many people were right saying that it first test the support at 15-14.6.

My view on risks were further downside movement to or below 14 is possible, which could be mitigated by market timing strategy. As a result t
his was the second most successful trade I managed to do using my quant strategies this year. The first one was in oil and gold in the first days of 2016. 

Silver reached 17.5 yesterday and was even 17.8 ending it's spectacular move.



Was it good or bad trade? 2.1$ per contract multiplied by cost of point and number of contracts. Then, if you trade on FOREX you need to multiply this on point value and on the number of contracts or take a look at the table below. CME Futures is the best option for trading. 



The chart:



The strategy was simple: wait for the signal at some specific moment. Before the end of March I was trading silver using time series prediction method until my trading idea for upcoming move was confirmed by another more powerful and accute trading methodology. You see it was trading in the range and it was painful and not easy to catch the moves. 



This is from my previous post http://banca.asia/marketinsight/index.php?id=2113&cat_id=&p=&search=#ontitle

And the next trading day was discussed here: http://banca.asia/marketinsight/index.php?id=2115&cat_id=&p=&search=#ontitle



So after all these moves I decided to stick to the main strategy and started to wait for the real action in silver.

Also I had a prediction for spot silver for the whole next month of April, 2016, and it had calculated lows on March 31st, and the following days in April 1, 4 and 7, I was intended to use to add to my position in case silver position would go deeper. I used only 1/3 of my account buying power and traded very cautiously.

 

And this trade returned almost 87% to margin I used to buy 35 contracts.

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