Weekly Price Action Setups & Trade Ideas | Oct 28 – Nov 02

Verified Profitable Trader

Chris Capre’s current price action and ichimoku trades: USDMXN, BIR, TLS

NOTE: After 18+ years of trading, what I’ve learned can save you 6-7 figures. Here are the biggest lessons I’ve learned after 18 years of trading.

ASX200 – At LT Key Support (Weekly chart)

Price Action Context

Heavy selling from 6375 has within only 9 weeks pushed the index 650+ points lower and taken it back down to a LT key support.

asx 200 technical analysis 2ndskiesforex

Trending Analysis

LT bias neutral while between these below mentioned key S/R zones and bulls can look for potential trading opportunities around this key support. A break and close below this support would open up for further technical selling, change our LT bias to bearish and open up for a greater bearish trade distribution.

Key Support & Resistance Zones

R: 6 110 – 6 160
S: 5580 – 5670

Stay tuned with the members daily trade ideas and analysis for updates on potential trade ideas.

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WTI – Heavy Selling After CT FB Into Multi-Year Resistance (Daily chart)

Price Action Context

The multi-year resistance we mentioned in our commentary in the beginning of the month held and produced a great false break setup which has pushed price back down to a LT key support zone. Congrats to the members who traded this for profit.

WTI crude oil technical analysis 2ndskiesforex

Trending Analysis

Our LT bias is still bullish while price is trading above the LT key support and bulls interest can look for potential trading locations around the key support with the multi-year resistance being the closest key resistance. A break and close below the key support zone would change our LT bias to bearish and initially open up for a move down towards 59.00.

Key Support & Resistance Zones

R: 74.75 – 79.30
S: 63.55 – 64.80

Keep up with the members daily trade ideas and analysis for updates.

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AUDUSD – Trading In Between Two Multi-Year S/R Zones (Weekly chart)

Price Action Context

LT bear trend has cleared a weekly key support and price is not trading in between two weekly key S/R zones.

audusd forex trade ideas 2ndskiesforex

Trending Analysis

The daily LT trend that started in the end of January 2018, started out as unclean, had a clean period in the middle and has now again reverted back to a more unclean behavior. With the LT bias being bearish & the weekly support cleared again, pullbacks into the weekly resistance zone can offer potential trading opportunities to bears.

Key Support & Resistance Zones

R: 0.7150 – 0.7200
S: 0.6830 – 0.6900

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