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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GBPJPY – Role Reversal Zone Held as Resistance, Trade in Profit (Daily chart)
On Thursday, bulls made an attempt to push price back above the role reversal zone (152.50-153.50).
This attempt was heavily countered by the bears defending this zone, slamming price 300 pips lower within just one 4 hour candle resulting in the potential bearish follow through I mentioned in the last commentary, confirming that ST order flow has shifted in favor of the bears.
Along these lines, after seeing price consolidate within a ST corrective structure below the S/R zone preceded by strong …... Keep reading