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 – Trade Setup Profits for +90 & +3R | Sep 25
USDJPY – Buy Trade Setup Profits for +90 Pip, At Key Support
The USDJPY trade setup that I talked about in the daily market commentary yesterday was closed out today for +90 pips of profit and +3R. As mentioned, the yearly highs around 109.45 might provide resistance and if they held, would likely send the pair back down.
As you can see from the 1hr chart below, that is what happened, whereby it formed a triple top rejection before selling off impulsively towards the consolidation bottom. I exited after the third rejection sensing this was the end of the move, and as you can see, this is exactly how it played out.
Currently the pair is sitting just above the key support at 108.47. If bids don’t step in here, they got 108.25/30 where I entered whereby a break below here would likely lead to further losses and a deeper pullback towards 107.60/30 before buyers step back in.
In today’s members daily trade setups commentary, I also discuss the live EURGBP trade I mentioned in the Sept 23rd members commentary, the GBPJPY break below a key level, along with a potential EURUSD sell signal, selling opportunities in the S&P 500, and the Nikkei 225. To learn more about becoming a member, click here.
Make sure to read our latest Live Price Action Trade Setups by several members and myself.
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