Weekly Price Action Setups & Trade Ideas | Jan 20 - Jan 25
Chris Capre’s current open price action and ichimoku trades: EURUSD, GBPUSD, USDMXN, USDJPY, BIR, TL
NOTE: How do you know if you’re taking the right steps to make money trading, or skipping steps you shouldn’t? If you want to know, read my latest article The 4 Stages of Becoming A Millionaire Trader.
GBPJPY – Strong Rejection + False Break @ LT Support (Daily chart)
Price Action Context
After the flash crash in early January, bulls heavily rejected lower prices, resulting in a false break of two LT support zones (only upper one shown in chart). If bulls successfully can defend the closest LT support, a move higher towards 148.60 is likely IMO.
Trending Analysis
Bias changed to neutral and bulls …
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