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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
  • Market Commentary: Gold Engulfing Bar Update | June 4th 0 comments
    Jun 4, 2013 7:19 PM

    Hello Traders,

    Just an update on the Gold Engulfing Bar trade from this weeks market commentary:

    We recommended selling at 1415, and the PM didn't disappoint, hitting the level, going about $1.50 above, then selling off over $28, offering a nice 3:1 reward to risk play, so I hope you profited from that as many price action traders did (chart below).

    (click to enlarge)

    The pair did form a minor HL (higher low), so it could be winding up to attack the level again. Thus watch for failures to breach the 1415/1420 key levels, targeting 1390, and 1363.

    Kind Regards,

    Chris Capre

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