Forex Price Action – Silver Forms ii Pattern on Dailies | Oct. 30th

Silver
With most US exchanges closed for Hurricane Sandy, liquidity and volumes were definitely lower today with most pairs and instruments playing in a tight range today.  Silver has now formed back to back inside bars, or an ii pattern, and this will not go on for much longer.

Although the precious metal is trying to form a base, it has yet to show any bullish legs, so until this happens, I expect short term more downside with the $31.50 level being key.  For the upside, bulls will want to clear $32.50 before feeling more confident so watch for clues on either side of these prices for the next leg.

ii pattern price action inside bars 2ndskiesforex.com oct 30th

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I'm Chris Capre, Founder of 2ndSkiesForex. I help traders of all levels change the way they think, trade and perform. As a professional trader, I specialize in trading price action. As a teacher, my passion lies in showing you how to re-wire your brain for successful trading. Want to improve your edge right now? Visit my Price Action Course page.

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