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.
EURUSD – Looking to Sell After Short Term Bounce
While the Euro has been struggling to lift off the bottom near 1.2900, it is short term forming a corrective structure that shows elements of a potential bounce near term (4hr chart below).
Overall though, I prefer to be a seller on a retracement. The first layer of resistance comes in at 1.3110 with a role reversal level at 1.3150.
Hence, I’ll look to sell on weak/mild pullbacks into this resistance zone, in anticipation of the downtrend resuming so we can trade with the trend.
GBPUSD – Approaching Key Resistance
After bouncing from the 1.6060 support level as we anticipated in our Sept. 9th market commentary, the Cable has consolidated just …