Chris Capre's  Instablog

Chris Capre
Send Message
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
  • Ichimoku Forex - EURAUD Kumo Break | More Upside? Sept. 5th 0 comments
    Sep 5, 2012 6:23 PM

    EURAUD
    Today the EURAUD has formed a daily close and Kumo Break (to the topside) for the first time in exactly two months Virtually all Ichimoku components are bullish with the chikou having crossed the price line, tenkan above the kijun, the kumo break, thus the only things left are for the tenkan and kijun to pierce through the kumo along with the chikou as well.

    Regardless, this bull run for the EUR v. AUD is impressive to say the least, as it has climbed 15 of its last 18 days all the while staying within a tight channel, so the climax hasn't come yet.

    At the moment, price is sitting at a key role reversal level just under 1.2400 (June swing low). With a flat top kumo parked just below current levels, bulls can take a pullback towards here (1.2236), or wait for a breakout pullback setup above 1.2400.

    (click to enlarge)ichimoku kumo break flat top 2ndskiesforex.com sept 5th

    For those wanting to learn how to trade the Ichimoku Cloud, along with lifetime access to the Ichimoku traders forum, using rule-based systems, make sure to check out my Advanced Ichimoku Course.

    Upcoming Economic Announcements:

    AUD Unemployment Rate 01.30GMT 21.30EST
    EUR Euro-Zone Gross Domestic Product s.a. (YoY) 09.00GMT 05.00EST
    EUR German Factory Orders n.s.a. (YoY) 10.00GMT 06.00EST
    GBP Bank of England Rate Decision 11.00GMT 07.00EST
    EUR European Central Bank Rate Decision 11.45GMT 07.45EST
    USD ADP Employment Change 12.15GMT 08.15EST
    USD ISM Non-Manufacutring Composite 14.00GMT 10.00EST

    Make sure to check out my newest articles:
    'Getting Back Your Losses' in Trading

    3 Keys for Identifying Breakouts

Back To Chris Capre's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

More »

Latest Comments


Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.