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 | Dec 10 – Dec 15
Chris Capre’s Current Price Action Trades: EURUSD, EURCHF, CHFJPY, EURNOK, FTS, TRP, REMX, FXo EURJPY, FXo EURPLN
NOTE: Check out my top trades for 2018
EURGBP – Potential False Break @ Bottom Of MT Corrective Structure (4h chart)
During NFP on Friday, bears managed to push price below the base of the 2+ month corrective structure the pair has been trading within. This move was quickly countered by the bulls who managed to push price back into the structure, producing a potential false break setup.
For now, I expect the bottom of the structure to act as support with bulls likely wanting to push price up towards the top of the structure @ 90.00 again.
A strong break and close below 87.50 on the other hand could open up for a bigger move all the way down to 83.50 IMO.
NZDNPY – MT Bear Trend Headed Towards LT Support (Daily chart)
Before reaching the LT resistance @ 83.50, bears were able to re-gain control which started a volatile MT bear trend that is now headed towards the LT Support @ 75.75.
Levels within this MT trend are being well-respected and we now have a corrective pullback into previous broken support around 77.70, a level which now should act as resistance.
As per the first pillar of price action, there is a higher probability this corrective move will be followed by another bearish impulsive move.
A strong daily close back above 77.70 would open up for moves towards 79.30 which is the next resistance in line and if that level also folds, a move towards 80.80 would be very likely IMO.
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