Weekly Price Action Setups & Trade Ideas | Dec 1-6

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Chris Capre’s current live open price action & ichimoku trades: GBPUSD, SUI20, CORN, USDMXN, CHRW

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Forex Trade Idea: USDMXN – Approaching Major Resistance, Possible Sell Signal (daily chart)

Price Action Context

For the last 7 months, the USDMXN has been stuck in a large corrective structure between the 18.96 support area, and the 19.85/20.18 resistance zone. Its hard not to think sellers are going to come into play near this zone so am looking to short at the next trade setup.

usdmxn key resistance zone 2ndskiesforex

Trending Analysis

ST bullish but MT neutral while inside this zone on a weekly closing basis.

Key Support & Resistance Levels

R: 19.85, 20.18

S: 19.05, 18.90

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Stock Trade Idea: Tesla (TSLA) – Looking to Sell on Pullback Into Resistance (weekly chart)

Price Action Context

As stated in our prior market commentary, we suggested selling Tesla on a pullback into the major resistance zone and ATH’s (all time highs). So far, that trade has panned out with the stock selling off for the last two weeks straight.

We suspect another year end pullback may manifest, and if it does, we’d like to add a short position selling in the resistance zone as we expect the range to hold.

tesla sell signal 2ndskiesforex

Trending Analysis

MT neutral while resistance is capped by the zone on a weekly closing basis.

Key Support & Resistance Levels

R: 357, 389

S: 255, 215


Index Trade Idea: ASX 200 – At All Time Highs, Trades on Both Sides Available (weekly chart)

Price Action Context

In our recent market commentary, we mentioned a potential breakout setup near the ATH’s on the ASX 200 with a target of the ATH. That trade has panned out as we suggested so congrats to our members that have profited from this trade setup.

ST the index looks bullish and is forming a potential breakout setup. But there are likely technical sellers at the ATH’s so a potential shorting opportunity here with a chance to go long on a clear break.

asx200 trade setup 2ndskies

Trending Analysis

ST and MT bullish, but needs to clear the ATH’s to bring in new technical buyers.

Key Support & Resistance Levels

R: 6860, 6906

S: 6400, 6020

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