AUDUSD

After closing below the daily Kijun back in late August, the ensuing sell-off stopped midway into the kumo.  It has since then become extremely impulsive (bullish), with the last 4 days reversing and taking out the last 9 days of selling pressure.  This is signaling strength by the bulls and that they have retaken control of the pair.  They will now likely attempt to take out the 1.0600 highs.

From an ichimoku kinko hyo…

Now that I have outlined the major components to Ichimoku Time Theory (ichimoku numbers), I want to talk about the 2nd pillar of Ichimok which is the Wave Theory.

Remember, the main pillars of Ichimoku are not the Tenkan, Kijun, Chikou and…

AUD/USD

Just wanted to do a brief post on this ichimoku kumo break setup for the AUD/USD 4hr chart. I have always talked about many times that when a kumo break occurs with a flat top/bottom ahead, price will often pullback to that flat top/bottom giving you an ideal setup to trade the kumo break and reversal play.

This is a textbook example of a …

EURUSD

After climbing for almost two sections (17 in ichimoku number theory), the Euro failed to continue gaining, telling us this recovery had little underpinning to it.  The Chikou not only found resistance at the price line (bearish), but also found resistance at an area where it once held as support.  It still has yet to clear the price line, which is one of the few majors failing to do so.  That plus the strong Kumo ahead, along with the…

AUDUSD

As we mentioned in our weekly forex market commentary, the key area to watch for the Aussie on the upside was the 1.0220/30 area and this held the upside of today's wild ride of price action.  In the process of the day's modest gains, the Chikou span crossed the piercing line which is an additional bullish signal, along…

GBPJPY

The beast (otherwise known as the GBPJPY pair) has gained 10 out of the last 12 days communicating the bounce off the lows has some decent buying behind it.  What is interesting to me from an Ichimoku perspective is how 3 of the last 8 days the dips touched to the pip the daily tenkan line, finding support there and closing higher off each…

After getting in a small moto accident, along with the internet blacking out on the peninsula, I am back at the Zion Mainframe on the hunt for trades again.



Here is the latest Price Action & Ichimoku Trade Setups Jan. 24th.



Look forward to your response.



Kind Regards,

Chris Capre…

Now that we have discussed the Two Necessities To Trade Successfully of what you need to trade successfully in part 1 of this series, it is time to get into part 2 of the series which is Developing the Two Traits.  These are traits which you may not have at the moment, but you can totally develop with relative ease, a passion to be a successful trader, and with a…

Just a few days ago, I was talking to someone named Marshall.  His dad is the head of a major investment firm which manages over $1Billion.  We are in talks with his fathers firm about investing with our fund and Marshall was the first person we were talking to.  We got into a really good conversation about the psychology of risk and some great things came out of the conversation. But first, we are going to start with a question;



 

Have you ever heard of a hedge…

Ok traders this may be a rather lengthy post but I want to give all the analysis of what I see on the horizon.

Being that tomorrow is Friday in which a day I don't like to trade or rather enter longer term trades I will still proceed as normal.

Looking at the chart above which features the NZDJPY on…

When I am not trading, or preparing for trading, I spend a lot of my time watching professionals, particularly high-level professionals.  I find watching any high-level professional in any field gives me tremendous insight into being a professional, how to operate at a high level, and how I can improve my trading.



 

This week I had a buffet in studying…

Our weekly report with some great price action and ichimoku setups is out.  To learn more, click on the link above.

Kind Regards
Chris Capre
2ndSkiesForex.com
Twitter; 2ndSkiesForex 

Before anything else, preparation is the key to success.

-Alexander Graham Bell

Many times I talk to my private course students and ask them what they do to prepare for the day's trading. These are the general responses I get;

-Drink a cup of coffee, maybe two

-Check out what announcements are coming out

-Look at the markets and then get ready to trade



 

And it ends about there.  To me, this is somewhat shocking.  Perhaps…

Yesterday was the most interesting class at the range in the last year and a half.  Not because it was the last class before I move to another country, but because of the exercise we practiced for an hour and a half. It required an absolute sense of awareness with one's technique, feeling and positioning, but it required something else.  It required one to go against temptation.



 

The Exercise

After…

Willingness

One of the key qualities you will find behind all successful people (across all fields of work and craft) is a 'willingness'.  A willingness to take full responsibility for their efforts, actions and results.  A willingness to take ownership of every step along the way from training, to the process, to daily actions and the…

A Brief Story

We had this one trader (we'll call him James) at the broker who had been trading a small mini account (about $3,000) for several years. James could consistently bring it to about $10,000 in a matter of months. As he got to $10,000, James would then take $7,000 out and start all over again, only to do it again and again.



 

Eventually we all noticed James's ability to do this.  Some of the people on the prop trading desk checked…

Our new site is live along with our new Forex Trade Setups on the AUDUSD and USDCAD.  To learn more, check out our link Forex Price Action Setups Oct. 10th.  



Enjoy!



Kind Regards,

Chris…

Yesterday was my first day back at the range in a week.  I had some problems with my shoulder so was resting it, but yesterday it felt better.  Even though I've been shooting for over a year now and won two competitions, there is still a lot of work to do.

I was shooting decently consistent to start off yesterday...scoring a 10 (perfect), a 9 (in the gold center) and an 8 (red - one level off from the gold center) for every 3 shots (round) from 18m which =…