Silver has now moved higher after a large Pin Bar reversal. This price action setup was discussed in the members online community live as it formed as a good potential trade.
This Pin Bar was against the trend, however it was formed at a solid support level and was making a false break. Quite often we will see false breaks like this Pin Bar which is followed by a large move in the opposite direction.
Price has now ground higher and has given the traders who took this setup a great oppurtunity to take profit or at least protect capital by moving to break even.
SILVER DAILY CHART – 13 JAN 2013
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