Understanding Price Action by Chris Capre

Seriously boring market
only had 2 trades this week (sigh).

Sure, am profitable on them, but still slow week. hopefully volatility starts to pick up a tad as indices are just sauntering along

JPY pairs have most of the action now

Hey Brendad howā€™s it going ?

Well yes the EU has been quite boring lately, but I am always finding other opportunities in other pairsā€¦just grabbed + 90 pips on EUR/JPY yesterday following the break out and continuation of the trend yesterday just before London openā€¦ ,but too bad I was up by about 160 pips and finally gave back 70 pips because I just like to keep trailing my stop and never set a TP lol ā€¦ but no problemā€¦sooner or later ,I know I will be able to catch the BIG moves and following these big moves will give big rewardsā€¦ patience is the key mate :slight_smile:

Hello,

Just noticed EUR/USD is forming a Triangle on the 1H chart, main trend of course is down ,so there could be a possible breakout scenario soon , maybe after the important news events tomorrow ā€¦

What do you think Chris ? Is it better to wait for the news announcement and trade the breakout following news results ? Or just put a pending order somewhere near the blue lines ?


Hey Mate,

I am looking for the same opportunity. I also prefer to wait for the announcement. But will closely monitor Price Action.

AU is another pair I am watching at the moment. Currently trading near R level and expecting a breakout or reversal. Price action still bullish on lower charts. Donā€™t have an idea to take any trade now.


Well yes this is a major resistance line, and this same level is also the 200 EMA of the 4H chart :slight_smile: ā€¦ But I do not think the bounce or break will be significant when all eyes are on the Retail sales news report tomorrowā€¦ better wait and see

So So week for me :D. Letā€™s see how this week gonna deliver us ? Expecting more comments from Chris. See you around guys. Happy weekend.

Hey Brendad,

Good you had a great week :smiley: . Good thing is that after the Retail sales report, eur/usd broke out of its Triangle range , but there was a fake out at first to the downside, and then it broke out strongly to upsideā€¦ I hope you didnā€™t catch the fake out lol ā€¦I was lucky not to take this tradeā€¦ but well anyways the key is to keep the risk at a minimumā€¦

Cheers

Hey guys,

There is a very nice ascending channel that has been formed on USD/JPY 1H, since last week. The trend has weakened and I think it is time to play the bounce from the downside :Dā€¦since main trend is still to the upsideā€¦ I actually took the bounce from this morning ,following the 2 pin bars that occurred at around 115.600 levelā€¦ Still trailing my stopā€¦
But exit is still some kind of an issue for me, should I keep trailing my stop until I am stopped out or exit at the top of the range ? what do you guys think is the best exit strategy ?

So in short, I will only look to buy when the price reaches an extreme level and wait for some pin bars for more confirmationā€¦


I would keep going until it starts to turn or if there is major new coming out that might affect the pair. Good going Target Trader FX make those pips. :smiley:

Haha, yes I will try that this timeā€¦ I am using a 20 EMA as my trail stop method, it is good sometimes as it keeps following the price closely, but at times when this is a sharp drop in price, you will end up giving back about half of the profitsā€¦and that is bad lol ā€¦ btw ā€¦ there is a EUR/GBP setup on the 4 H chartā€¦ it looks like it has hit the upper trendline and is ready to go down all the way :smiley: ā€¦ Check this out mate


Target Trader FX i never use a EMA for that because all they are always lagging , i preffer to use a trailing stop .

Hello Guys,

Whatā€™s up ? EU again in bull run. Have a small long targeting 1.2570 area. :slight_smile:

35+ pips up at the moment. Will close 50% .


Nice entry mate ! :slight_smile: ā€¦ I like how price action squeezed to the upside and bounced back from the broken resistanceā€¦ but too bad it was short livedā€¦ it hit the 4H 200 EMA to the pip and bounced back down! ā€¦ that is why I usually prefer not going against the 4 hour trend ā€¦if 1 H and 4 H agree ,then I consider taking the entryā€¦ well thatā€™s my opinion anyway

Nicely done here. I missed the opportunity yesterday. Hope you closed it at the top :slight_smile:

Missed the EU long opportunity yesterday. There is always a market tomorrow. So got it today.

Was lucky got away from stop loss hunting. LOL :wink:


Missed Chris with his valuable analysis. But he did a great video on a new strategy. Here it is

Haha yea ā€¦with all those nasty pinbarsā€¦ I would stay away from charts like one lolā€¦ no trade is my best trade sometimes :smiley:

Thanks for posting. Great video.