I'm recouping, my theories of the silver market proven right.

After the big loss, I've spent my whole night in front of my laptop reading news, articles, supply and demand and studying the candlestick charts, hourly, daily, weekly, you name it. I've done my research and finally found a view that yesterday's correction is 'meant' to be. It was suppose to happen! Well, at least technically... I've resisted myself from placing new trades throughout last week since it was range trading the whole time and I couldn't find myself risking a trade that could possibly give me a 50% drawdown. Eventually, when Monday starts, I thought it would be another week of range trading, at least for a few days, it was range in a very tight spread and there wasn't any chance of making money since it was Chinese New Year and President's Day. Market was somehow dead and Tuesday was like a tsunami sweeping investors into the deep blue sea. I was one of the lucky survivors that managed to get cling on the coconut tree with few deep cut wounds.

I've discovered a chart reading method that I have neglected all the while which was provided a very clear picture of the whole trend. I got it yesterday and placed my trades accordingly.

Let me re-list my trades;

600 units of 13.7850
300 units of 13.7659
430 units of 13.8680
600 units of 13.9000
300 units of 13.9550

Is it has reached the bottom of the current bull market with an angle of est. 18-20 degrees. 13.7000 was the lowest. From my current view of the trend, yesterday's fall as just flux on the way towards $700 later in the year, as both physical and investor demand is likely to be strong.

I'm currently running a profit of 230 USD. I'm targeting 14.2000 after this correction.

Happy Trading!