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 & Trade Ideas | Jul 22-27
Chris Capre’s current open trades: EURCHF, BIR, PLUS, TLS
EURUSD – Corrective Structure Bottom Still Holding (daily chart)
After attempting to hit the 1.15 major support level and structural lows, the Euro found strong buying interest late last week barely touching 1.16 before launching 100 pips higher.
MT the corrective structure is still in play with bulls defending the 1.15-1.16 key support zone while bears wanting to avoid any daily closes above 1.18.
For now we’re trading both sides until the corrective structure is broken.
Breaking 1.15 on a daily closing basis = IMO a move much lower as technical stops will likely have been tripped. Meanwhile if bulls can cross 1.18 and 1.20, then the next likely upside is towards the 1.24 handle.
Stay tuned to the members daily trade ideas for updates
USDJPY – Sells Off Impulsive Just Before Key Resistance Level (daily chart)
After forming a breakout structure just above 111 last week, the USDJPY was gunning for the key resistance level at 114 before selling off impulsively losing almost 200 pips in the process.
111 might hold for a day trading setup, but beyond that, 108 is the most likely area to attract solid buyers. Meanwhile I’ll definitely be looking to play both sides, particularly selling near 114.
Stay tuned to the members daily trade ideas for updates.
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