(J) Trade 6: Silver at descending resistance #forex

Update: Reached target without triggering entry. Cancelled Trade.
===========================================================================
Trade 6: Pending Short XAGUSD @ 16.30
S.L @ 16.60
T1 15.92
T2 15.60

For $29,798.94 Balance, and 2% risk per trade ~ $600, Position size = 0.4 lot (0.2+0.2) .
Note: The value for each tick in silver equals $5.
===========================================================================
Reasoning

• Main short term trend line
  
• 50-Days SMA
  
• Major Pin bar at retest of both of the above
  
• Silver has been under=performing recently, compared to gold.
  

Don't forget to click the Thumbs Up
Wish me luck and best of luck for everyone.

For Trades rules and guidelines follow this link
My best regards
Technician
Subscribe to my trading portal thefxchannel.com