Hi, I'm Chris Capre, founder of 2ndSkiesForex. I'm a verified profitable trader and trading mentor. As a professional trader, I specialize in trading Price Action and the Ichimoku cloud. As a trading mentor, I have one goal: to change the way you think, trade and perform using 18 years of trading experience and cutting edge neuroscience to wire your brain for successful trading. Want to improve your trading edge and mindset? Check out my trading courses here.
Forex Price Action – Silver Holds Above Dynamic Resistance | Oct. 25th
As noted two days ago, Silver was showing reducing price action spreads which suggested to me it was bottoming out around $31.50. That is exactly what happened, and has now broken above the dynamic resistance, holding above it for the last 12hrs. If the $32 level and dynamic support can hold, then an attack on $32.50 should be next up, and clearing this opens the door for $33.00.
Short term traders can look for possible sells at $32.47 or $33.00 on corrective weakness, while aggressive bulls can buy at $32.00, or corrective pullbacks into $31.50.
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