Weekly Price Action Setups & Key Levels | Jun 10 – Jun 15

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Chris Capre’s current live trades: GBPCHF, EURUSD, EURCHF, USDJPY, USDPLN, PLUS, BIR

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AUDCHF – MT Corrective Structure Still in Play (4h chart)

The MT corrective structure posted in our members daily trade ideas on Monday offered 2 good opportunities to sell the top, followed by impulsive selling towards the bottom.

Congratulations to the course members who profited from this move as you should be well into the green

The structure is still in play and can offer both bulls and bears opportunities to play this range from either side until it’s broken, but with a trade distribution favoring longs, considering the impulsive price action preceding the structure.

A strong daily close below 0.7400 would open up for further selling towards the LT support starting to come in at 0.7275, whilst a break and close above 0.7580 would put the LT resistance @ 0.7710 into perspective.

Keep checking in with the members daily trade ideas for updates.

audchf trade ideas 2ndskiesforex

CADJPY – LT Resistance Holding After False Break (Daily chart)

Since we mentioned this false break setup in our market commentary on the 30th of May, price has re-tested the resistance once and been rejected.

So far, there has not been a solid follow through by the bears which makes me believe we might see another re-test of this key resistance level.

To the downside, 83.50 would be the first minor support to look out for, followed by the key support @ 80.60.

Stay tuned with the members daily trade ideas for updates.

forex false break setup cadjpy 2ndskiesforex

 

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