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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
  • Forex Price Action | GBPJPY Breakout Pullback Setup | Jan 14th 0 comments
    Jan 14, 2013 5:47 PM

    Hello Traders,

    I'm also watching the GBPJPY as its exhibiting similar behavior to the AUDUSD chart I posted above. Bull trends tend to pullback towards the dynamic support and 20ema, along with to a prior swing high, which often becomes a breakout pullback setup level in that uptrend. We have already formed a corrective pullback to the dynamic support and 20ema, so I'll watch the key role reversal level below for a possible signal, or failure of a signal.

    (chart below)

    (click to enlarge)

    Good Hunting!

    Kind Regards,

    Chris Capre

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