Weekly Price Action Setups & Trade Ideas | Mar 18 – Mar 23

Chris Capre’s current live open trades: CHFNOK, CHFJPY, FXo EURJPY, BIR

ATTN: Are you struggling to find the best key support and resistance levels to trade from? Click here to learn more.

GBPAUD – Trade Setup Profits Heavy, Bullish Bias (4h chart)
The bottom of the MT corrective structure we mentioned in our market commentary last weekend held on a re-test and was followed by strong impulsive buying, propelling price +450 pips higher in 4 days as we talked about in our members trade setup & market commentary.

I know that many members were able to profit from this trade opportunity so a big congrats to you!

Weak pullbacks into 1.7850-1.7900 can present potential trading locations to bulls as the broken key resistance now should act as support with next solid resistance starting to come in at 1.83.

gbpaud trade setup 2ndskiesforex

USDCAD – Weekly Resistance Cleared, Bullish Bias (Daily chart)
Initially, after a strong bearish reaction to 1.30, it looked as if price had put in a false break of 1.29. But bulls stepped back in last week and pushed price past both 1.29 and 1.30, ending the week with a very strong bullish close above the weekly resistance zone which we mentioned in our daily trade ideas during the week.

Bulls should find this zone to be attractive on pullbacks with next resistance waiting at 1.32, whilst a strong close back below 1.29 would open up for potential moves down to 1.2680 again.

Stay tuned to the members daily trade ideas for updates.

usdcad trade ideas 2ndskiesforex

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Verified Profitable Trader

Hi, I'm Chris Capre, Founder of 2ndSkiesForex. I've turned $3,000 into $83,000 in my first 6 months of trading. I'm a verified profitable trader and trading mentor. I help traders of all levels change the way they think, trade and perform. 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 18yrs 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.

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  • Tjenarvi Tje

    Yeah I found this GBPAUD by myself and traded it, I’m glad that I could see it by my own. That means my analysis is inline with your teaches. This made me 40% profit already in this Q1 2018!

    Superb Chris Capre !

    • Hello Tjenarvi,

      Congrats on this trade and having the same analysis. You’re starting to see the same things Sascha and I do, which is a good sign the training and skills are sinking in.

      BTW, 40% profit on this trade alone? How much +R was it and how much were you risking on this trade?

      Just curious, but congrats on such a big winner.

      • Tjenarvi Tje

        Since I learned from your Risk of Ruin table, now my risk on any trades is 4%, not 2%, not 1%.

        Well, it’s not exactly this 40% alone.
        But another trades, which is another almost the same as GBPAUD, e.g. GOLD., plus this GBPAUD made me 40% surplus profit in total, this is already included the loss I made, of course 🙂

        This is my style where I need to be 60% win probability in order the risk of ruin to be 0% for reward 1:4 minimum most of the time. Well sometimes also take 1:3 trade but it’s depend on the probability of my price action setup analysis.
        But still 1:4 reward is my priority and the most minimum.

        Once ever I also got a jackpot, 1:10 reward though…

        Thanks for your enlightenment !!