Weekly Price Action Setups & Trade Ideas | Feb 25 – Mar 2
Chris Capre’s live open trades: USDJPY, GBPCAD, CHFJPY, EURUSD, FXo EURJPY, BIR
EURUSD – Closing In On Key Support Again (4h chart)
The MT support zone we covered in our daily trade ideas on the 9th of February produced a strong reaction launching price back up to the recent highs around 1.25. Congrats to those members that were able to catch this one.
After producing a minor false break setup at 1.25, price is now again closing in on this support which can offer further potential with-trend opportunities with first resistance coming in at 1.25.
A break and close below 1.2160 would negate my MT bullish bias and put the next support @ 1.2070 into focus.
Keep up with the members commentary for updates.
BTCUSD – Resistance Held, Neutral LT Bias (Daily chart)
After bottoming at 6000, Bitcoin reversed and gained almost 100% in 2 weeks before finding resistance @ 11800.
For the time being, my LT bias on Bitcoin is neutral and I anticipate price to trade between 6000-12000.
A break and daily close below/above these key levels should give us an indication of where the mother of all cryptos likely will be headed next.
Want More? My private members get all my trade ideas & market commentary up to 3x per week. Click here to become a member.
Want to Learn Price Action Strategies for Trading Forex?
Sign Up for our Monthly Newsletter and Get our FREE E-Book