Time to pull out my FOREX charts. Chart 1: Silver daily chartA...

Time to pull out my FOREX charts.
Chart 1: Silver daily chart




A huge potential fakey setup with pinbar occurring just above weekly and daily support. The fakey occurs when one or more inside candles trade within the limits of a larger candle (the mother bar) and is subsequently broken and regained (a false-break). This is a very powerful formation when combined with S/D or S/R levels and can indicate a substantial move in the opposite direction of the false break. As you can see this coiling formation followed by false-break preceded that of the meteroic rise to $30. If this pinbar closes within the limits of the motherbar (+$28.832) then it is potentially game on for silver.

Chart 2: Silver momentum chart




Once the 8 ema (yellow line) and 15 ema (blue line) flip on the 4r chart it could add confluence to the trade as an indicator that momentum is in our favor.

Fingers crossed.