Understanding Price Action by Chris Capre

Hey Traders,

I’m checking out the Dow Jones which is parked just under the key 13000 and role reversal level.

Am looking at possibly taking a breakout pullback setup if the pair clears the upside well.

Chart below;


Hey Traders,

Today I’m checking out the bearish engulfing bar which the EURUSD formed off the big figure at 1.3000. There are short term plays for bears if a corrective pullback into the resistance occurs, while bulls will watch the intraday support at 1.2888.

See the chart below;


Hey Traders,

Just a quick follow up how the Euro rejected right off the key level I mentioned yesterday, forming a bullish with trend pin bar in the process.

See the chart below;


Thanks for the follow up. Looking fwd to seeing where this will go.

Me too Jeff, looking forward to working with you as well.

BTW - is your avatar the picture of the dude dunking in that old nintendo game (i’m old, so cannot remember the name, but I remember the game)?

If so, props on this one amigo :slight_smile:

Kind Regards,
Chris

Hey Traders,

The Euro is being good to us as I talked about yesterday how it would likely find sellers at the 1.3000 level, which it did today, forming a huge bearish engulfing bar off the level.

It may attempt one more go at the 1.3000 big figure this week, and a failure here will likely send it back to 1.2881 where short term support is. See chart below.


Hey Traders,

Just checking out this Oil pin bar rejection at the channel top which may not hold much longer. Check out the chart below;


Hey Traders,

Checking out this combo pin bar + SDB pattern on the Gold 4hr chart. Take a look at the chart below;


Hello Traders,

Just to recap yesterday’s Gold trade went exactly to the $1705 level and sold off almost $20 so hopefully you took advantage of that.

Today I’m checking out the GBPJPY as its attempting to complete a major breakout of some yearly highs. See the chart below.


Hey Traders,

Looking at Gold here coming up to a role reversal level. If the intraday price action looks corrective, I’ll sell it, but if it breaks above the key level, I’ll look for an intraday buy towards $1715.

Take a look below.


Hi Chris,

This is a wonderful and very resourceful thread regarding price action. I would like to see your updates everyday. Good luck with your thread.:slight_smile:

Hello Perryfx,

Am glad you liked it and I will definitely be posting updates on the usual days, along with adding new educational and course material here soon, so stay tuned.

Kind Regards,
Chris

Hello Traders,

I just wanted to post a live intraday price action trade I took on Gold today, buying the dip on the NFP reaction as I detected strong buying interest at my level based on short term price action. Chart below:


The trade ended up with +1415pips of profit and I’m still holding some more if I see more upside potential.

Remember, you do not have to wait for A+ cherry trades to only come a few days a week as these come every day, several times a day all the time.

If you are waiting around for days on end to get good trades like this, you are wasting time, money and hurting your learning curve. All of these trades can be spotted with just a little learning, practice and study.

Happy trading and have a good weekend!

Kind Regards,
Chris Capre

Hi Chris,

This was a very nice trade! :slight_smile: My question to you is, do you have a specific strategy for trading NFP data? I mean, almost anywhere I read people say how you must “stay away” from trading on this day as it were a doomsday. Well, I was wondering what your view on this was and how did you know that the price will start going back up after it plummeted right after the news was released.

Thanks!

puzon

I love price action trading and I know Chris I have watched his video and price action trading gives you more clearer picture of what is happening in the forex market and most of the professional traders uses price action trading in their daily routine.

Sure. Will stay tune.

Very Nice trade Chris. Wish I could build patience like you . Good luck

Yes I agree with you. I am also patiently wait to learn more about PA. PA shows the actual market direction and will reduce risk of entering wrong trades.

In my opinion these things ( ie. Trading during NFP ) come from the experience and knowledge. So I think Chris is very capable of getting benefits during doomsday like NFP.

Good question Puzon,

I do not have a specific strategy tailored to trading NFP only. I used pure price action and strategies from my course to trade this setup.

In the beginning, I generally recommend staying away until you have some experience with it as you have to understand how the price action and order flow works during NFP, along with the algos which are very active during NFP.

But once you have experience with it, it can be a useful tool during the right times.

Hope this helps.

Kind Regards,
Chris