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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 Forms Pin Bar At Resistance | Nov. 14th 0 comments
    Nov 14, 2012 8:54 PM

    EURUSD
    As I had discussed in yesterday's market commentary, the pin bar and engulfing bar combo highlighted did produce higher prices for the Euro, and went to the first resistance level I mentioned yesterday (around the 1.2763 area). Some of the course members got in on this trade and profited nicely from it as it was discussed openly.

    However, the pair got rejected and formed a large pin bar at resistance and a role reversal level. Now the lines are drawn short term, as the bulls will have to clear 1.2772, while the bears have support at 1.2659, so those are your levels for either side of the market to get long or short, and watch for price action signals there.

    (click to enlarge)

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

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