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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
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2ndSkiesForex
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2ndSkiesForex
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Trading Price Action and Pivot Points
  • Gold Forms An Inside Bar Setup | Oct. 15th 3 comments
    Oct 15, 2012 6:51 PM

    Gold
    Today, Gold has continued its sell-off, losing its luster as it shed over $15 breaking a key support level at $1739. In the process, it hit an intraday low sub $1730. Before the major sell-off today, it formed three inside bars, and then started the impulsive sell-off on the break of their lows. It has since then formed another inside bar, so a pullback towards the prior swing lows might offer an selling opportunity.

    Bulls on the other hand will look for a corrective pullback into the $1730 lows which is showing a strong pin bar on the 1hr chart, which is part of the longer rejection from the large bear candle and selling pressure today. This may be signaling buyers picking the metal up on the dip, so there are plays on both sides.

    (click to enlarge)inside bars impulsive selling price action 2ndskiesforex.com oct 15th

    For those wanting to learn to trade price action, access to the traders forum, lifetime membership & more, visit my Price Action Course page here.

    Upcoming Economic Announcements:

    AUD Reserve Bank Board - October Minutes20.30EST
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Comments (3)
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  • yajoe
    , contributor
    Comments (3) | Send Message
     
    Would you show a chart for what it looks like when the breakout is happening? I feel like many of these price action analyses depend on hindsight.
    16 Oct 2012, 10:07 PM Reply Like
  • Chris Capre
    , contributor
    Comments (6) | Send Message
     
    Author’s reply » Hello Yajoe,

     

    I actually make a lot of trade comments and suggestions before they happen in my daily articles, but if you want to get some ideas of what to look for on a chart when a breakout is happening, please take a look at an article which shows some of the things I look for when a breakout is happening, which you can find below called '3 Keys for Identifying Breakouts'

     

    http://bit.ly/Qr0pUS

     

    Hope this helps.

     

    Kind Regards,
    Chris
    17 Oct 2012, 08:42 AM Reply Like
  • neelamgarg
    , contributor
    Comment (1) | Send Message
     
    Yes, agree with post. Today, most of the things are getting loss and closing the marketing value. Many pubs are also selling due to recession.

     

    Bar for Lease
    4 Dec 2012, 06:16 AM Reply Like
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