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 Trade Signal – Chart of the Week Aug 11th
GBPUSD – About to break?
After two months above and 8 touches off the 20ema, the pair looks poised to break the 20ema for the first time this summer. It is heading into the 20ema with its strongest 3-day decline since the middle of May and is coming off its most aggressive selling day since.
Although the pair has tested it once and bounced 80pips off of it from the first time, its already getting close to breaking it again. A close below on the daily chart opens up technical models and will likely activate a fresh round of shorts. A likely target would then be the Kijun which is sub 1.5500. Below here, the pair could make a move for a touch on the Kumo which would be around 1.51/5200 so some strong losses could be in store.
If you would like to find simple high-probability trades using pivots and price action only, you can check out the Advanced Price Action or the ProForex Course which will teach you rule-based proprietary systems to trade these profitable setups.
Want More? My private members get all my trade ideas & market commentary 4x per week. Click here to become a member.