TRADE OF THE WEEK | Classic Fibonacci Short
Here is a great short trade that I caught this week on Silver.
The market reached a key daily level and I was looking for a pullback from that.
The confirmation that I was looking for was a breakout of a rising trend line .
Then, once the price broke and closed below, I set my sell limit order on a retest of that matching with 618 retracement of the last bearish leg.
Very cute winner and a rule-based trade.