Weekly Price Action Setups & Trade Ideas | Mar 3 – Mar 8

Verified Profitable Trader

Chris Capre’s current live price action and ichimoku trades: EURUSD, GBPUSD, USDMXN, USDJPY, EU 50, BIR, TLS

NOTE: Check out my top trade ideas for 2019.

EURUSD – Pulling Back Towards Key Resistance (Daily chart)

Price Action Context

After a failed attempt to fully clear the LT support between 1.1270-1.1300, bulls managed to re-gain some control, but the weak and very volatile bullish move from the support isn’t very convincing, suggest a more balanced order flow and continued bearish presence.

eurusd-price-action-forex-2ndskiesforex

Trending Analysis

LT bias remains bearish while below 1.1515 and a potential move back up to the key resistance zone can offer possible trading locations to bears.

Key Support & Resistance Zones

R: 1.1450 – 1.1515
S: 1.1220 – 1.1275

Stay tuned to the members daily trade ideas for updates.

******

EURO STOXX 50 – Back Above LT Key Support, Bullish Bias (Weekly chart)

Price Action Context

Like many other indices, the Euro Stoxx 50 has now broken back above a key resistance level, which now should act as support.

euro-stoxx-50-trade-setup-2ndskiesforex

Trending Analysis

LT bias changed back to bullish and weak pullbacks into the broken resistance, now support, will likely be of interest to bulls.

Key Support & Resistance Zones

R: 3660 – 3710
S: 3215 – 3280

******

WTI – Holding Above LT Key S/R Zone (Weekly chart)

Price Action Context

WTI bounced heavily from the multi-year support and has now broken back above a LT key S/R zone, initially opening up for a potential continuation towards 59.00.

wti-oil-trade-ideas-2ndskiesforex

Trending Analysis

LT bias bullish with the LT key S/R zone offering potential buying opportunities.

Key Support & Resistance Zones

R: 64.25 – 66.70
S: 53.20 – 55.20

Want More? My private members get all my trade ideas & market commentary 4x per week. Click here to become a member.

Related Article