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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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Trading Price Action and Pivot Points
  • Euro Forms Huge Bearish Engulfing Bar Off Resistance 0 comments
    Nov 29, 2012 6:45 PM

    Yesterday I wrote in my price action commentary the Euro will probably rally and find bears parked at 1.3000 wanting to sell the pair intraday. This is exactly what happened as the pair went just a few pips past the big figure, then went south over 60pips in less than a few hours forming a huge bearish engulfing bar in the process.

    Although the pair is forming HL's (higher lows), communicating its intention to make an upside break, bulls should test the level one more time this week. Another failure however will likely send the pair lower, back towards short term support at 1.2881 so plays on both sides here.

    (click to enlarge)

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