FX Price Action – Silver Price Action Squeeze Plays Out | Apr. 2nd

Silver
Yesterday in my FX market commentary, I talked about how Silver was forming on the daily charts a consolidation and a critical price action squeeze (one of the price action elements prior to a breakout), suggesting a downside breakout was imminent. Today, the market broke down below the key support at $28.00, falling to a low of $27.25. Many of my price action members got into this trade so hopefully you profited from it as well.

Next up is $26.50 and $26.21 which are just above the 2012 lows, thus threatening a serious downside move and the bulls likely parked there. Any corrective rallies towards $27.87 can be used for potential sell signals to rejoin the trend. Bulls can now only look to enter around the 2012 lows, but if this breaks, the next support doesn’t come in till the big figure at $25.00

price action squeeze chris capre 2ndskiesforex.com silver april 2nd

For those wanting to learn to trade price action, access to the traders forum, lifetime membership & more, visit my Price Action Course page here.

Make sure to also check out my most recent article Forex Trading, Ted Williams & The Little Details Pt. 2

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Buddhist, Trader and Philanthropist

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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