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.
My Current Active Open Positions: AUDUSD, AUDNZD, USDRUB, XAUTHB
ASX 200 – Potential Breakout Formation (daily chart)
For the 3rd time this year, the ASX 200 is approaching a key resistance level around 5825, which it hasn’t cleared on a daily closing basis for almost 2 years.
The current price action structure is building into a potential breakout formation with each pullback getting shorter, communicating the bulls are taking over.
If this formation plays out, and we get a daily close above 5825, then I’ll be looking to get long for an RRL setup. Upside there is a long term target around 6000 which is a multi-year high.
Meanwhile if the bears manage to push back against the bulls successfully, …... Keep reading