Forex Trade Signal – Trade Setup July 27th

GBPJPY – Kumo Break
The GJ has just completed something it has not done in a few months – perform a kumo break on the daily charts, particularly to the upside.
What is most interesting about this Kumo break is it happened over a flat top which is also the 50% retracement for the last major downmove from 145 – 125 right at 136.33.  The pair had tried for two months to break this level rejecting off of it several times but failing all the while.  It has now broken this convincingly and should it start to treat this level as support (role-reversal) and the Kumo break has its way, the pair should see higher ground minimally touching the 61.8% fib at 138.58 or 220+ pips higher.  This could be a significant kumo break for this pair and be the beginning of a strong upmove.

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.

If you have any questions about our courses, feel free to email me via the Contact Page and make sure to comment below!

Want More? My private members get all my trade ideas & market commentary up to 3x per week. Click here to become a member.

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.

Related Article