Silver Breakout: My April 2024 Trade (Chart & Journal) By Vivek Kumar, CMT
- Vivek Kumar, CMT, CFTe
- Oct 21
- 2 min read
Introduction:
In the ever-changing world of trading, timing and strategy often play crucial roles. As a trader who focuses exclusively on Equities, my journey into Buying “Silver” in April 2024 while people are talking about it in late 2025 was driven by my pure Technical Analysis practises, No Luck or any Guess. Let's dive into this real incident of Vivek Kumar, CMT, CFTe (ConsultVivek.com) real quick.
Identifying the Opportunity in Silver:
Back in early 2024, I noticed a significant buzz around "Silver". While many Analysts were focused on the hype, I took a closer look at the Technical Price Charts. I spotted a clear Breakout pattern on the basis of closing price in the HDFC Silver ETF (BSE – 543592, see below Chart), which indicated a potential upward momentum.
Why Equities and Not Futures?
As an Equity Trader who focuses on Long Only methodologies, I prefer to stick to what I know and I mean it STRICTLY with what I know and understand like Sir Warrent Buffet.
While Silver is often traded in the derivatives segment, I looked for alternatives that aligned with my investment style. That’s when I discovered the HDFC Silver ETF (BSE – 543592), providing a more straightforward way to gain exposure to “Silver” without venturing into Futures / Options and their correlated jargons viz. Open Interest, Contract Roll-over, Adjusted Future Prices etc.
The Breakout and My Strategy:
In April 2024, this ETF hit a Lifetime High, supported by exceptionally Strong Volume. I initially invested ₹25,000 and later added another ₹40,000 as the momentum continued. This approach was not just about following the hype, but about trusting the technical signals and my strategy of trading Breakouts in Weekly timeframe for a long time now. I quickly understood something is happening and updated my Trading Journal (see below) before planning to place my order on upcoming Monday.
The Importance of Patience:
One key takeaway from my experience is that successful trading isn’t about luck at all; it is all about a Well-defined methodology (Trading Strategy) and your conviction about your trades which you will get after a good mentorship or just by spending some time in the Markets. While others may jump on trends, having a clear plan and sticking to it can yield great results over time.
Conclusion:
In 2025, as the silver buzz intensifies, I look back and realize that my 2024 decision was rooted in careful analysis and patience. It’s a reminder that, as traders, we can benefit greatly from sticking to our strengths and strategies.
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