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.
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ASX 200 – Looking To Sell At Multi-Year Resistance (weekly chart)
Continuing it’s impressive bull run since Q1 2016, the ASX 200 is marching towards a multi-year high around 6K. This level was last reached in 2015, and has held since 2008.
I believe there will be some profit taking at this level, and thus a trading opportunity to short, while playing both sides. Meaning if the short holds, we’ll keep the trade open, but if the 6K level breaks, we’ll look out for a BOPB setup.
Only a weekly close above 6K would switch my price action structural bias to bullish MT. Downside I’d be looking to …... Keep reading