 Why did I short silver? I'm just gonna go over why I decided to short silver It's been ages since I've done a quick technical analysis video. So I'm gonna break this down for you Everything you need to know in terms of the tools I'm using Beetoro trading two on two of the platforms. I'm gonna go back and forth between technical indicators are the EMA SMA VWAP RSI MACD That's everything so The reason I initially got invested and interested in shorting silver is it's trading at some all-time highs So if we just have a look at that on it work, it's a little bit easier So this is the price chart for silver on it or and if we put it on one day You can see if we scroll out of it that it's trading near the highs that it was at in August and And Obviously it held that that was a resistance and then it dropped down And then if we go even further than that and we go on the weekly you can see that silver hasn't even remotely traded anything this high since 2013 2012 so the the likelihood is that it's gonna pull back from it. It doesn't have to But it's likely if you look at previous patterns, right? So you can see it was at this level in 2013 it dropped and it's not reached anything that high. It's here again It's likely that it's gonna drop in my opinion The reason I went for the short yesterday is we jump back on train two on two So the reason I went for the short or decided to open the short yesterday is when I'm trying commodities I like to use a short time frame because I prefer to be in and out You can see that silver's been pretty flat the SMA Hasn't really taken any kind of direction or a size been pretty neutral kind of throughout And then we had this massive spike again, like I said to the levels where previously it's It's pulled back. I know that's not part of like the recent trend, but commodities Always tend to kind of trade between these between like set levels in my opinion And then what's happened is it's consolidated at the top here once it's peaked So you can see here it's accelerating except accelerating. There's no consolidation here It stayed at the same level for a little while and then it started to pull back, right? and then once it's broken below the VWOP and The EMA it basically tells you that the momentum is pulling back. You can see that it's Overbought on the RSI and the MACD was pulling down. So all of that combined so the Support and resistance levels that I was seeing would indicate to me that it was overbought anyway all the indicators are showing me that it's overbought and The momentum Of the trade is showing me that it's lost a bit of steam and it's pulling back So you can see that since yesterday it has pulled back the entire time And now it's getting a little bit of support at the SMA so you can see here It's consolidating at the SMA so what I'm likely going to do is Move we can see I've been moving my stop loss down But I'll probably set my stop loss to something just above the S the EMA and the VWOP Because it does look like it's consolidating so it's even going to consolidate and get some momentum and push back up or It's if it can't break so you can see its support at the SMA and then the resistance at the EMA So basically whatever way it breaks out is probably where it's going to surge through in my opinion It's probably it might push back up Which is why I want to bring my stop loss tight and just kind of cash in those profits And the MACD is to turn into a buyer that RSI says it's oversold so I'm gonna pull the stop loss down, but yeah, that's just a quick little breakdown of Why shorted silver and just a short little trade less than 24 hours, I think we'll be in and out Hopefully I mean I'm gonna hold on to it and as I said this stop loss and obviously if it continues to pull down I just keep moving the stop loss down or set a trail in stop loss if you've got any questions or you disagree or Have anything to say let me know in the comments as I haven't done a technical analysis video in a little while So I kind of want to get back into doing these and Trading actively Etor I use for like my safe trades and trade two on two is kind of my Not YOLO, but just like I'm a bit more reckless because I don't want I don't have to worry about people copying me or anything like that so Yeah, so that's it. I hope that was helpful if it was thumbs up subscribe There's plenty more videos like this and money-making content and all that sort of stuff And I'll catch you guys in the next one