1 minute silver set up

I am studying this 1 minute silver setup.

The xagusd chart has simple sma 60 and 100 added to it along with a basic moving average convergence divergence indicator.

A one minute chart is only tradeable if you are willing to sit and watch the trading platform for hours on end. However, what works on a one minute setup chart will generally work on a longer timeframe. Trading charts is a fractal thing were scalability is the key word.

As above so below.

What do you need in order to enter a trade if you are a technical trader ?

You need a signal and you get that signal by using one or several technical indicators. On this particular 1 minute silver setup chart the quoted price starts printing below the 100 and 60 ma's and drags in the bear sector.

There are two points on this 1 minute silver setup chart where the MACD indicates weak reversal efforts which some traders might be tempted to use as buy points thinking that the bear rally is oversold and complete. I consider those MACD points as false starts and prefer to wait at least until the spot silver quoted price test the 60 sma. At that point I look for the next MACD signal.

At this point I can enter a trade, long silver in this case, and, depending on my strategy, I place a sl order below the last low. ( I hate stop loss orders mainly because I believe in the idea that there are some amongst us who would manipulate markets in order to win at all costs ). There are other methods of beating the fear and greed factor that comes from some people trying to force sense in the markets.

Having entered a trade on this 1 minute silver setup chart at the indicated area, the next step is easy as pie. The trader has to look for an exit point.

One potential exit point is indicated on this 1 minute silver set chart. There are other exit strategies.

This study is for educational purpose only. Use at your own risk and if you dare. And try it on other traded assets. If it works out for you please come back and comment about it.

I will be adding other examples of this 1 minute silver setup as time goes by.