My trading journey with FXOpen

[radex78]

Silver prices gapped down today, hitting pending orders. The failure of a fragile ceasefire caused the silver price to fall and oil prices to rise.

 

[radex78]

Silver prices are rising and are currently near the upper band, consolidating on the hourly timeframe after cutting profits. I'm trying to pending a buy limit order near the support zone.

 

[radex78]

Amid tensions in the Middle East, demand for safe-haven gold and silver is highly sensitive to USD movements. Silver is moving sideways within the Bollinger Bands on the hourly timeframe, attempting to move pending orders near short-term support.

 

[radex78]

Pending orders for silver began to become active after the price dropped and touched the target level. Tensions in the Middle East may remain a significant catalyst, as Trump's rhetoric often elicits a market response, although many are currently skeptical of a ceasefire agreement.

 

[radex78]

Gold prices have broken the upper band on the short-term M15 timeframe, so I decided to open a new position. Although geopolitical risks in the Middle East remain uncertain, hopes for de-escalation remain.

 

[radex78]

Talks between the US and Iran appear to be at a stalemate, with no agreement between the two sides. Military tensions are escalating, and despite Trump extending the ceasefire, the blockade of Iranian ports remains in place. Oil prices could spike again if tensions escalate. Here, I'm trying out a pending buy limit order on XTIUSD.

 

[radex78]

Gold prices appear to be trending within a range, currently near the lower band of the support area. Although we're awaiting the FOMC meeting tomorrow, and the Fed is expected to hold interest rates, I'm attempting a short-term gold buy today, given that the price is near the support zone and there are signs of a reversal.

 

[radex78]

The Fed kept interest rates unchanged as inflation remained above target, driven by energy prices and the Iran war. Silver and gold came under pressure, with losses in gold offset by gains in silver.

 

[radex78]

Finally, I cut my profit on silver. After Japan intervened in the Japanese yen, gold and silver rebounded due to the weakening USD. However, silver's gains were expected to be limited due to the Fed's still-high interest rate. Here, I tried again with a pending sell limit order on silver.

 

[radex78]

At the market open, I closed a gold position with a profit, while also experiencing a loss on silver. Today, I opened a buy position in silver after it broke out and signaled an upward trend, despite US interest rates remaining high.