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.
USDJPY – False Break Setup In Profit for +2R | Dec 15
NOTE: The FED has one of the most important rate decisions tomorrow and there are wide expectations for a rate hike, the first in years. Many traders on Wall Street today haven’t even seen a rate hike from the Fed, so I am expecting volatility and some confusion tomorrow so be smart.
For more guidance on how to trade the Fed Rate Decision tomorrow, check out my members commentary.
USDJPY – False Break Setup in Profit (30 min chart)
After selling off from the role reversal level at 121.33 to start this week, the USDJPY triple bottomed off 120.63-ish before forming an impulsive bull run.
As you can see from the chart below, I took this trade with a tight 18 pip stop and am currently up +38 pips for +2R with +20 locked in. The pair has since formed a corrective structure which I’m trailing my SL just below.
If we can take out the intra-day highs around 121.90, then I’m expecting a move back up towards 122.15 before offers step back in. Only a daily close below 121.33 would negate my bullish bias ST.
Want More? My private members get all my trade ideas & market commentary 4x per week. Click here to become a member.