Silver Trade Ideas

Looking at Silver there are two good opportunities that may come into play with a good RR potential.
First lets address the narrative... Gold both XAUUSD & XAUEUR are driving to the upside for new highs to be made prior to the elections, after which the narrative will need to be re-assessed. The COT data from last week shows 13,266 long positions were added bolstering price, making Long trading the go to, to follow the big institutions.
(cotperspective.com/commodityexchangeincsilvernoncommercial.html).
Tensions in the Middle East have heightened with Israel now attacking Iran.

Long Trade.
Entry- 29.88
SL- 50 pips (50 cents)
TP- 110

Confluences-
-Key Level with 3 touch points
-50% Fibo of most recent impulse
-Possible trendline 3rd touch timing dependent
-Alignment with XAUEUR can be assessed if price moves to area


Short Trade.
I'll be looking to short from the all time high of XAGEUR

Entry- 34.2
SL- 55 pips
TP- 190 pips

Confluences
-Profit taking
-All time high
-Gold alignment required