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.
Weekly Price Action Setups & Key Levels | Apr 17-21
My Current Active Open Trades: USDCAD, AUDUSD, AUDCAD, AUDNZD, GBPNZD, EURCHF, EURPLN, XAUTHB
GBPUSD – Approaching Top of Corrective Structure, Looking to Sell (daily chart)
After a corrective pullback, the pound continues to gain and push higher up towards 2 key resistance levels. These two levels (1.2742 & 1.2670) are the top of the price action corrective structure which has held for 6 months now.
I’m expecting this corrective structure to hold so am looking to sell. Only a daily close above 1.28 would negate my bias.
If the resistance zone holds, there is scope for a move towards 1.2550, 1.2350 and 1.21. Meanwhile a break and close above 1.28 opens up technical buying for a move back towards 1.30.
EURUSD – Corrective Structure Still Intact, Looking to Play Both Sides (daily chart)
For this year and the end of last year the EURUSD has been in a CT corrective structure with the impulsive legs being more to the downside.
For now I like playing both sides of the corrective structure, and am particularly interested in the 1.0860 key RRL. For now, play the structure till it’s broken. A daily close above 1.09 opens up a lot of fresh upside, and potential for a move towards 1.11.
Meanwhile a break below 1.06 puts pressure on 1.05 and 1.04.
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