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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 Pin Bar + False Break Signal Profits +140 Pips | May 2nd 0 comments
    May 2, 2013 8:47 PM

    Hello Traders,

    Yesterday in my market commentary, I posted a false break + pin bar signal on the Euro, specifically talking about how the pair failed to hold above the key resistance and swing high at 1.3200.

    The fact the pair had rejected after breaking above, and then closing below the 1.3200 level setup a short signal opportunity where I recommended getting short at 1.3200.

    The pair went a few pips above, and then sold off about +140 pips as you can see from the chart below, so hopefully you profited from that.

    (click to enlarge)

    I'm expecting more downside, but also trading should be muted a few hours before the NFP tomorrow, so pullbacks towards 1.3127 could be looked at to sell a move lower prior to the NFP announcement.

    After that - all bets are off so good luck tomorrow.

    Kind Regards,

    Chris Capre

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