There are 2 Trade plans but both need confirmation of the breakout and a retest of the breakout area (i.e. resistance should and must become support to validate the breakout)
1st Game Plan - Long Silver at 16.71 stop at 16.03 (risk 68 points) Target 17.71 (100 points). Stop is rather wide but look to raise should breakout validate by testing the previous resistance line. Not a great RR and need to manage stop. Target the long term downtrend line which could limit upside.
2nd Game Plan - Short Silver at 15.58 stop 16.15 (risk 57 points) Target previous low at 14.08 (reward 150 points).
Symmetrical triangle often is a continuation of the current trend - bearish but let price action dictate and reduce our bias view.
1st Game Plan - Long Silver at 16.71 stop at 16.03 (risk 68 points) Target 17.71 (100 points). Stop is rather wide but look to raise should breakout validate by testing the previous resistance line. Not a great RR and need to manage stop. Target the long term downtrend line which could limit upside.
2nd Game Plan - Short Silver at 15.58 stop 16.15 (risk 57 points) Target previous low at 14.08 (reward 150 points).
Symmetrical triangle often is a continuation of the current trend - bearish but let price action dictate and reduce our bias view.