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.
USDCAD – False Break Setup +300 Pips in Profit | Jun 15
My Current Active Open Trades: EURGBP, EURNOK, EURPLN, NZDJPY, USDMXN, CADMXN, XAUTHB, AX_UN, ANZ, BMO, CUF_UN, CSE, SBER, FXo EURJP7, FXo EURPLN
USDCAD – Resistance Holds, False Break Setup Now 300+ Pips in Profit (Daily chart)
As we talked about in our members commentary on Jun 4th, the USDCAD had broken back underneath a key resistance zone and stabilized within a ST corrective structure.
Price came back and tested 1.3520 one last time for the false break setup we talked about, where just after it completely flushed the ST bulls, leading to a 300+ pip sell off within 4 days.
The move was so strong that it smashed through both minor s/r levels @ 1.34 and 1.33 with ease. Short term 1.33 & 1.34 should now act as minor resistance with major support coming in at 1.30.
Traders not already short can watch for a corrective move back into the FB area for potential trade setups.
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