Weekly Forex Trade Setups & Key Levels | Jun 14-19

GBPUSD – Larger Structure Trying to Build (4hr chart)
After holding the 52 handle 2x and starting a new impulsive bull leg, the pair stalled last week around 1.5550 before pulling back.

Bids stepped back in at the RRL (role reversal level) around 1.5437 and pushed the pair higher. ST this creates a pullback location for bulls, although the pair looks like it wants to attack 1.57.

Weak pullbacks into the RRL is a potential location to get long. Only a daily close below here negates my ST bullish bias.


EURJPY – RRL Holding for Now (4hr chart)
Last week we talked about being ST bearish on the EURJPY since it broke below the range structure support around 139-ish. After a second attempt to break through the RRL (role reversal level), the pair sold off about 100 pips before bouncing mildly.

ST the pair is still bearish while MT bullish. If we don’t get impulsive selling from here and break last week’s lows, then we’ll likely retest the RRL with bulls attempting to break back into the range.

Doing so would create a more complex corrective structure.


Read my latest article Trade Management & Cutting Losses Short

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

Verified Profitable Trader

Hi, I'm Chris Capre, Founder of 2ndSkiesForex. I've turned $3,000 into $83,000 in my first 6 months of trading. I'm a verified profitable trader and trading mentor. I help traders of all levels change the way they think, trade and perform. 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 18yrs 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.

Related Article