EURUSD & EURJPY Buy Setups Profit Heavily | May 5

EURUSD – Buy Setup On Pullback In Heavy Profit (1hr chart)
Yesterday in the members trade setups commentary, we talked about looking to buy a pullback setup on the key support zone between 1.1070 and 1.1030.

As you can see from the chart below, this worked out to perfection with the Euro now up about +110 pips from there.

You can also see in the chart below I put my money where my blog posts are and am long on this pair at 1.1077, now up about +107 pips with a 24 pip stop, so a +4R at the moment.

I’ll be locking some profit and neutralizing all the risk shortly. The impulsive buying off the level followed by a corrective pullback suggests the next leg is up.

I’m targeting just above 1.1250 but may exit if it continues to get stuck just below here. If the price action climbs impulsively from here, I’ll consider lifting the limit and gunning for the mid 1.14’s.

Only a daily close below my key support zone negates my bullish bias MT.

eurusd

EURJPY – Buy Setup Profits After Corrective Structure Reverses (1hr chart)
Yesterday we also talked about the impulsive and corrective price action structure on the EURJPY, with the current corrective phase likely signaling another leg up.

Our buy zone between 133.60 and 132.75 held nicely as you can see the pair bounced heavily today forming a bullish with trend impulsive move. The pair is corrective off the intra-day highs and I’m suspecting another leg up and attack on the 135 ‘big figure’ is underway.

133.70 comes in at ST support for now. Only a daily close below 132.76 negates my bullish bias.

eurjpy

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Buddhist, Trader and Philanthropist

I'm Chris Capre, Founder of 2ndSkiesForex. I help traders of all levels change the way they think, trade and perform. As a professional trader, I specialize in trading price action. As a teacher, my passion lies in showing you how to re-wire your brain for successful trading. Want to improve your edge right now? Visit my Price Action Course page.

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  • Ben D’limi

    Thanks Chris, I enjoyed your analysis again, it looks so simple, yet it needs more time to be able to figure things out the way you do it , you analyse your weekly and daily charts with all the support and resistance, and you take trades on H1,H4 with tighter stop loss. I’ll have to master this myself.
    one question though , do you share your actual live trades with you students or you show only other analysed trades? Thanks again.

    • Chris Capre

      Hello Ben,

      Am glad you liked the analysis.

      And yes, it takes time to develop these skills, but once you do, they become a lot easier to spot and trade on the charts.

      RE: Live Trades
      I trade from all 3 courses, so obviously cannot share my live trades.

      I do once a day share the key pairs/instruments I am looking at, the support and resistance levels to watch, the trend, bias and where I am looking to trade. This is done once a day and then we revisit the next day to see how things worked out and what I am looking at.

      But to be clear, I am not a signal service – my goal is to teach you how to fish, not fish for you.

      And my students are glad I teach that way as they are learning how to spot these things themselves.

      Hopefully you can become a member and join soon.

      Kind Regards,
      Chris Capre