FX Commentary – GBPJPY Intraday Breakout Pullback Setup | Jan 31st

GBPJPY
Today the GBPJPY completed a major breakout to the upside, taking out the prior Jan. swing highs at 144.71.  This breakout had all the classic signs of a breakout, and formed a perfect intraday breakout pullback setup twice today (at 144.27 and 144.75).

If the market forms a corrective pullback into the prior resistance level (now support), then I’ll look for longs here, targeting 146 and 150 which are the major swing highs from May and Jan. 2010.

NOTE: Tomorrow is the first NFP of 2013 so careful to mitigate risk ahead of the announcement.

intraday breakout pullback setup price action gbpjpy 2ndskiesforex.com jan 31st

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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.

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  • Rob

    Hi Chris,
    when do you resume your webinars on fx-street again?

    • Hello Rob,

      They have been postponed indefinitely as I want to work on completing my book and other projects for my current course members.
      Most likely not till 2014, but even then – not sure.

      Kind Regards,
      Chris Capre

      • Rob

        Hi Chris,

        Thx for quick reply!

        Going to miss your webinars to charge my batteries each time!!

        Thanks for all your time and effort!!

        Will try to follow you on your website!

        Regards, Rob

  • lps

    sir i wish to buy trade signals if any?do you manage fund.bye

    • Hello Ips,

      I do not offer trade signals. My managed fund clients would be upset if for a few hundred a month, they could just get my signals.

      I have a managed fund program called KronosFX. Min. investment is $1MM.

      Kind Regards,
      Chris Capre