XAG/USD Signal - Feb. 20, 2013

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By: DailyForex.com

Yesterday, the ounce of silver reached the double top target (top at 32.30$) at $29.25, leading some of the stakeholders to redeem themselves. The formation of a new low should indicate the end of this delaying movement and thus should send a new bearish signal with a target at $28.30.
Direction: Sell (trigger threshold at 29.15)
Stop-Loss: 30.30
Take-Profit: 28.50

XAGUSD Signal 22013

Maxime Parra has been trading since the age of 18, and he is now in charge of technical and fundamental analysis at BNRY.com and Tmarkets.com. Fascinated by the psychology of financial markets and technical analysis, he is also the head of the “Fédération Sud Finance” and is preparing for the Degree of the Chartered Financial Analyst (CFA) level 1 at the SKEMA Business School. Maxime favors trend following strategies by combining chartist analysis with the use of technical indicators.