{quote} Hello Danny , Hope you are doing great. Nice to hear that u got pips from last week trades. I am with you to grab more pips this week.
we can only wait and see whether the order flow in the US session will give us some good entries.
Danny
Price Action, Pro, And Ichi Trading with 2ndskiesforex
Hello Traders,
As suspected, the markets did not do much today and mostly just trotted in place, save for Crude Oil being the big mover today.
My radar is on the USDJPY where it is forming a price action squeeze pattern on the 4hr chart that you can see below. Between the USDJPY, EURJPY, and GBPJPY, this one is performing the best as its had the smallest pullbacks, suggesting it is well underpinned.
It also has formed a 20ema carry just under the 100.00 big figure, so a breakout seems likely either today or tomorrow. Buying at these levels seems precarious as most bulls will either wait for another pullback, or a breakout pullbacks setup, so watch the intra-day price action on the 4hr and 1hr charts for clues, but being long and rejoining the uptrend is the play.
Kind Regards,
Chris Capre
As suspected, the markets did not do much today and mostly just trotted in place, save for Crude Oil being the big mover today.
My radar is on the USDJPY where it is forming a price action squeeze pattern on the 4hr chart that you can see below. Between the USDJPY, EURJPY, and GBPJPY, this one is performing the best as its had the smallest pullbacks, suggesting it is well underpinned.
It also has formed a 20ema carry just under the 100.00 big figure, so a breakout seems likely either today or tomorrow. Buying at these levels seems precarious as most bulls will either wait for another pullback, or a breakout pullbacks setup, so watch the intra-day price action on the 4hr and 1hr charts for clues, but being long and rejoining the uptrend is the play.
Kind Regards,
Chris Capre
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.
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
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.
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
Hello Traders,
Looking at the charts for this week, Euro seems like a chopfest at the moment, but the JPY pairs are looking more interesting.
To give an example, the GBPJPY has broken the yearly high. Notice how it levitated above the 20ema, which shows the buyers were willing to take almost any pullback to get back in and buy the pair up - expecting higher prices.
Now that the former yearly high is cleared, expect pullbacks here to find some buyers, but ill remain a buyer all the way down to 151.50. Upside targets are now 155.81, and then all the way up to 160 and 162.60, so quite a lot of room up there imo.
So look to buy the JPY pairs on pullbacks, until we see daily closes below the 20ema and a new LL printed.
Kind Regards,
Chris Capre
Looking at the charts for this week, Euro seems like a chopfest at the moment, but the JPY pairs are looking more interesting.
To give an example, the GBPJPY has broken the yearly high. Notice how it levitated above the 20ema, which shows the buyers were willing to take almost any pullback to get back in and buy the pair up - expecting higher prices.
Now that the former yearly high is cleared, expect pullbacks here to find some buyers, but ill remain a buyer all the way down to 151.50. Upside targets are now 155.81, and then all the way up to 160 and 162.60, so quite a lot of room up there imo.
So look to buy the JPY pairs on pullbacks, until we see daily closes below the 20ema and a new LL printed.
Kind Regards,
Chris Capre
