Weekly Price Action Setups & Key Levels | Dec 3 – Dec 8
Chris Capre’s Current Price Action Trades: EURUSD, EURCHF, CHFJPY, EURNOK, USDMXN, FTS, TRP, REMX, FXo EURJPY, FXo EURPLN
NOTE: Check out my Top Trades for 2018
GBPJPY – Trade Setup At Key Support Zone In Heavy Profit (Daily chart)
Bulls were able to defend the key support zone which we talked about with members as a potential trade setup in the members market commentary, launching price +500 pips higher in just 3 days.
Congratulations to those of you members sharing your trades and profiting nicely from this. This is why you don’t wait for confirmation price action signals as they will crush your performance and cause you to miss a ton of setups.
On pullbacks, the S/R zone around ~148.00 should again become very attractive and present potential trade opportunities to the bulls.
A break and close above the MT resistance will likely attract more buyers to the table and initially open up for move towards 156.00 whilst a break back below 147.00 would negate my bullish bias.
XAUEUR – MT Key Support Broken, Closing in on LT Support (Daily chart)
On Thursday, we saw the MT support around 1080 which we mentioned in our last member market commentary, taken out by a bearish impulsive move, and changing our ST bias to bearish.
Pullbacks into this broken MT S/R zone can present ST bears with a potential trading location whilst LT bulls on the other hand likely are having their eyes on the major LT support zone between 1057-1065.
A strong break and close below 1057 would open up for fresh technical selling towards 1040 IMO. Keep up with the price action and updates in our members commentary.
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