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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
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2ndSkiesForex
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Trading Price Action and Pivot Points
  • Forex Price Action - Kiwi Forms Pin Bar Setup Off Support | Sept. 20th 0 comments
    Sep 20, 2012 7:22 PM

    NZDUSD

    Retreating from the recent swing highs over the last 5 days, the New-Zealand dollar formed a large with trending pin bar off a key role reversal level today. It should be noted how the day started off very bearish for the pair, which reversed gains sharply after touching the key role reversal level at .8210 and closed up on the day.

    I suspect higher prices for the Kiwi, but am looking for one more intraday pullback to get long. I'll take a buy off any pullback towards .8230-.8215 with tight stops below targeting the recent swing highs at .8350 offering up a nice 3/4:1 reward to risk play so a decent catch out there. Bears can watch .8350 on the intraday charts for weakness to short the pair targeting today's lows.

    (click to enlarge)forex price action pin bar setup chris capre 2ndskiesforex.com sept 20th

    For those wanting to learn price action trading, get access to the traders forum, lifetime membership & more, visit my forex price action course page.

    Upcoming Economic Announcements:

    AUD Conference Board Leading Index20.00EST
    NZD Credit Card Spending (YoY)23.00EST
    GBP Public Sector Net Borrowing (Pounds)04.30EST
    CAD Consumer Price Index (YoY)08.30EST
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