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Chris Capre
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Chris Capre is a professional forex, index futures and commodities trader, specializing in Price Action & Ichimoku trading. Chris applies his methods to the markets both intraday and medium term swing trading, and has been trading for over 13 years. He is also the manager for a private fund... More
My company:
2ndSkiesForex
My blog:
2ndSkiesForex
My book:
Trading Price Action and Pivot Points
  • Euro Gets Hammered, Forms Inside Bars At Support | Feb 7th

    Hello Traders,

    Post the ECB announcement, the Euro got bloodied up losing over 180 pips in a few hours. Since then, it is barely holding serve and support at 1.3380.

    Post the aftermath of the losses, the pair has formed 3 inside bars back to back, or an 'iii pattern'. My bias now is south if it can clear the support level. Should this fail, then 1.3300 is up on deck. Any corrective pullbacks towards 1.3463 are also opportunities to sell on a rally.

    (click to enlarge)eurusd inside bars 2ndskiesforex.com feb 7th

    Feb 07 8:49 PM | Link | Comment!
  • AUDUSD Breakout Of Support - More Downside? Feb 6th

    Hello Traders,

    After a really choppy start to this month, the AUDUSD has finally taken out a key support level in 1.0357, which it broke through on an impulsive leg down. The pair found support and some buyers at the round number of 1.0300, but i'm not really convinced by the small back to back pin bars.

    I'll look for a corrective pullback setup towards the role reversal level at 1.0357, along with a 20ema on the 4hr chart, to sell the pair, targeting 1.0300, 1.0236 and 1.0163 should the downside momentum pick up steam.

    (click to enlarge)breakout pullback setup audusd 2ndskiesforex.com

    Feb 06 9:12 PM | Link | Comment!
  • Gold Forms Bearish Engulfing Bar | Feb 5th

    Hello Traders,

    Quite an interesting day across the JPY pairs, and also precious metals. Gold just formed a bearish engulfing bar on the 4hr chart off the key resistance at $1685. Although it was engulfing a small pin bar, the selling on the day was far more impulsive than the buying, and this was after two pushes up, with the second one being quite strong (chart below).

    (click to enlarge)gold bearish engulfing bar 2ndskiesforex.com

    The wicks on both sides communicates strong presence with bulls and the bears, but the wick on the topside is larger which = more selling pressure than buying short term. If it fades, and we form a HL (higher low), then this is showing the precious metal is underpinned and will likely retest $1685.

    A break below $1666.50 intraday will check to the buyers at $1661.

    Feb 05 7:24 PM | Link | 1 Comment
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