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neelamgarg on Gold Forms An Inside Bar Setup | Oct. 15th Yes, agree with post. Today, most of the things...
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Chris Capre on Weekly Forex Price Action Chart Outlook | Oct. 28th - Nov. 2nd Hello Yajoe,An outside bar would technically ha...
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yajoe on Weekly Forex Price Action Chart Outlook | Oct. 28th - Nov. 2nd thanks for posting the setups.In the GBPUSD cas...
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yajoe on Dow Jones Forms Large Bullish Pin Bar | Oct 22nd 2ndSkiesForex Thanks for your comment on the Gold article and...
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Chris Capre on Gold Forms An Inside Bar Setup | Oct. 15th Hello Yajoe,I actually make a lot of trade comm...
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Is The Euro Starting To Reverse? Feb 27th
Hello Traders,
The Euro has been gaining ground as of late, building a case for a short term bull run. However, looking at the 4hr chart below, we can see the bulls have been trapped by sellers on every rally. Thus, I'll stick with the downtrend, and look to sell higher at the 1.3303 level which is where the last round of impulsive price action selling began.
(click to enlarge)
Gold Forms Ii Pattern After Strong Breakout | Feb 26th
Hello Traders,
While the JPY pairs continue to break down and put more pressure on the downside, I want to talk about gold which has now gained for 4 days straight, with today being it's most impressive day.
The PM intraday formed a strong breakout bar after clearing the big figure and key resistance at $1600, just touching $1620 before pulling back a tad.
In the process, the pair formed an ii pattern (back to back inside bars) with very little selling follow through.
If this holds, ill take a corrective pullback towards $1600 to buy targeting $1620 and $1638. A break back below the level targets $1585, $1572 and $1560 (chart below).
(click to enlarge)
EURJPY Gets Hammered After Posting Bearish Engulfing Bar | Feb 25th
Hello Traders,
Today was like the good ol' days where the JPY pairs moved several hundred pips in a day. Ahh, refreshing to say the least.
But ironically the big mover today was not the beast (GBPJPY), but its cousin EURJPY which got hammered losing over 600 pips from top to bottom today, thus its hard not to talk about it.
(click to enlarge)
Its natural for a pullback after such an extreme move, but look to sell any rallies towards 122.54 or 122.83 targeting the lows today at 119, for an eventual break towards 117.58 and perhaps much lower. Because of the massive selling today, it is highly likely long term bulls have booked partial or most of their profits from the recent uptrend, so selling should resume after a short pause.
FYI - days like today are days where you can make a lot of money, especially in moves and trends like today with many with-trend breakout pullback setups, so make sure to capture these plays and stay with trend as much as possible.
Kind Regards,
Chris Capre