Silver Reversal Coming? Watching for Buy Signals on this Unique Chart

Hi traders,

I haven’t been able to post much for a while, so I thought I would drop in and share some of my analysis with you here on Silver, and probably applicable to Gold as well.

What I’ve got here is 8 hour charts synced to the London Open. To get these I use my custom chart builder for MT4.

If you have a look what’s going on here, we can see lower highs and lower lows – a bearish footprint, which is now potentially transitioning to a higher high, higher low situation.

Following the market structure in this simple way is how you can spot trend reversals early. In this case the first higher lower would indicate the beginnings of a bull market.

Also a fun fact is: when you the market transition is such a way, it will create a head and shoulders pattern – which you may have already spotted.

If the market holds and pushes upwards from here, it will lock in that higher low and complete a head and shoulders pattern (an inverted one),

So right now I am looking for bullish price action signals, which would be an ‘heads up’ opportunity to get long before the next push into higher highs.

Best of luck on the charts guys.