Weekly Price Action Setups & Trade Ideas | May 20-25
Chris Capre’s Live Open Trades: EURNZD, XAUUSD, BIR
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USDPLN – Attacking LT Key Resistance Zone (Daily chart)
USDPLN has now arrived at the LT key resistance level which we mentioned in the weekly quiz, an area that should attract some bearish attention.
Closest high probability target location for bears looking to shorting the pair at this area would be the support zone that comes in between 3.5100 – 3.5360.
Bulls on the other hand would want to stand aside for now and wait for breakout pullback setups after clearing the resistance zone.
Stay tuned to the members daily trade setups commentary for updates.
XRPUSD – ST Consolidation Within Larger Structure (4h chart)
Since February, Ripple has been ranging in between 0.46 and 1.20 and recently ‘built’ a new top (resistance) at around 0.9350. The flash crash in the end of April was also confined within this price range.
ST, price is consolidating in a small corrective structure and a break below would most likely lead to a continuation towards the LT key support which IMO is a very attractive area to look for potential longs, whereas a break above the SCS would put 0.9350 back into focus.
Members can keep up with the crypto-currency updates.
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