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 | Mar 11 – Mar 16
Chris Capre’s Current Live Open Trades: CHFJPY, BIR, FXo EURJPY
NOTE: Check out Chris Capre’s verified trading results for 2017
GBPUSD – Corrective PA Towards LT Key Support Zone (Weekly chart)
After topping out at 1.4280 which can be seen as a double top on the daily and 4hr chart price action charts, the GBPUSD seems to be slowly crawling lower in a corrective fashion towards the weekly support zone coming in between 1.3470 – 1.3620.
Most likely there are some MT and LT bulls looking at this zone as a potential trading opportunity. First resistance being the last swing high @ 1.4280. A weekly close below 1.3470 would most likely attract fresh bearish interest with next LT support waiting at 1.3050.
Stay tuned with the daily trade setups commentary during the week.
AUDCHF – LT Key Support Held, Buy Trade Setup Profits Heavy (Weekly chart)
The LT key support level we mentioned in our members trade setups commentary in early February held and produced a very strong reaction.
Members should by now be up 180+ pips or so by now, so congratulations to those of you that caught this move.
Considering the very strong reaction + weekly close, which also cleared the minor resistance at 0.7420 in the process, I wouldn’t be surprised if we see a move all the way back up to the top of this LCS. But to make it all the way to the top @ ~0.7700 bulls have to be able to make it through another solid resistance coming in at around 0.7550 first.
To the downside, 0.7420-0.7400 is the closest minor support whilst 0.7275 remains the closest LT key support.
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