Ticker:
- SLV, ZSL
Topic:
- A very fierce fight between the BEAR and the BULL in SLV.
- If you misstep in this trade, you will be whip both sides.
Lesson Learnt:
- Daily support line is at $33.00 as drawn in the daily chart, but question is do you think it will rebound there when market open SLV gap down to the support line and punch through it immediately. ZSL at one point was more than 10%.
- When market opened, SLV tanked, ZSL rally like crazy BULL. I was actually cursing and kicking myself for not been able to get in for the run.
- After cool down, I told myself again and again, patient… wait until 12:00am midnight.
- Things start to look weird at 10:30pm onwards. The strength in SLV start to get noticeable. Now, I am struggling between SLV and ZSL instead.
- I could not make my decision because the strength in BEAR shown previously really block me mentally.
- I decide to leave it for another day and went to bed.
- Key learning here is patient and watch for confirmation. Know where you support line is so that the rebound will not catch you unprepared.
| Intraday Chart |
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| Historical Chart |
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