Weekly Price Action Setups & Trade Ideas | Mar 18 – Mar 23
Chris Capre’s current live open trades: CHFNOK, CHFJPY, FXo EURJPY, BIR
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.
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.
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