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.
Forex Ichimoku Trade Setup – Dec. 2nd AUDUSD
AUDUSD – Possible Reversal?
After selling off from the yearly highs just sub 1.0200, the pair has shed about 600pips and has yet to regain any major ground. However, the pair right now is coming up against a critical point which could either reject price or cause a good pivot place to go long and play the reversal.
Taking a look at the chart below, the pair is rubbing up against the 50% retracement of the last major swing from 9950 – 9550 at 9745. This also lines up perfectly with the upcoming flat kumo top. Also keep in mind there is a Kumo window here so if the pair is going to make a reversal, this is the best place to do it. Watch for kumo breaks to come back to this level and for those wanting to go short, the 50% fib offers you an option with low risk.
These are just some of the techniques and methods we use to trade the markets. If you are interested in learning more about these and other systems/methods we have, then make sure to check out our Price Action or Ichimoku Courses for further training where you can join a community of traders and get permanent access to our forum for continual education. For more information about our services, visit 2ndskiesforex.com
Want More? My private members get all my trade ideas & market commentary 4x per week. Click here to become a member.