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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
  • AUDUSD Breakout Of Support - More Downside? Feb 6th 0 comments
    Feb 6, 2013 9:12 PM

    Hello Traders,

    After a really choppy start to this month, the AUDUSD has finally taken out a key support level in 1.0357, which it broke through on an impulsive leg down. The pair found support and some buyers at the round number of 1.0300, but i'm not really convinced by the small back to back pin bars.

    I'll look for a corrective pullback setup towards the role reversal level at 1.0357, along with a 20ema on the 4hr chart, to sell the pair, targeting 1.0300, 1.0236 and 1.0163 should the downside momentum pick up steam.

    (click to enlarge)breakout pullback setup audusd

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