GBPAUD Price Action: The week Ahead, 1/04/2013 - 5/04/2013

 

A Fakey with Pin trade setup has been spotted on the weekly chart, with a close above the weekly support. This setup looks simple enough to send prices higher in the comming week(s).

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GBPJPY Price Action: The week Ahead, 1/04/2013 - 5/04/2013

 

 There is a fakey setup on the weekly chart of the pair indication bullish possibilities. If this Setup is to pull off extensively, A bullish close should be seen at the end of the weeks trading.

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GBPUSD Price Action: The week Ahead, 1/04/2013 - 5/04/2013

 

GBPUSD trades close to weekly resistance and could face bearish pressure however, the Pin Bar Price Action Setup the week closed in, shows more of the bullish pressure. A break of resistance would see price attempt to target the next resistance at 1.5626.

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EURGBP Price Action: Inside bar Trade Setup, 31/03/2013

 

 This setup should support further bearishness on the pair as support is seen just below at about 0.8322.

My Recommendation: Remain Bearish

AUDUSD Price Action: Inside Bar Trade Setup, 30/03/2013

 

The inside bar trade setup on the AUDUSD after a small rotation back into support (1.0407) could mean price setting up for a new round of buying pressure. 

My Recommendation: I will advice for another trading days wait to get a clearer view on this setup.

EURJPY Price Action: Inside Pin Bar Trade Setup, 30/03/2013

 

The EURJPY has given off an inside Pinbar Trade setup at Support (120.70). This tends to counter the initial fakey trade setup discussed in its previous commentary. If this setup pulls off, target could be at about 124.00 which is the nearest resistance.

My Recommendation: I will wait one more day to make a proper assessment of this setup.

NZDUSD Price Action: Inside Bar Trade Setup, 29/03/2013

 

The inside bar trade setup is a very significant Price Action Setup. It marks indecision and at the same time could mean continuation of a previous trend or a  reversal into a new trend. Spotted on the daily chart of the NZDUSD, just above New support  Zone, it is expected that the previous bullish trend should continue targeting the next resistance at about 0.8460. If this setup were to fail, the new support would have to give way for any extensive bearishness.

My Recommendation: I may want to wait another day in order to be sure on the pairs direction.

EURAUD Price Action: Bullish 2 bar Reversal, 29/03/2013

 

The extensive bearish run on the pair could now be set for some pull back following the formation of  an outside bar/bullish 2 bar reversal price action setup at the close of today's trading. While the trend remains bearish, there is room for price rotation into resistance region at about 1.2550 if it manages to break above 1.2385.

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My recommendation: Trade the bullish pullback or wait till price hits resistance to rejoin the major bearish trend.

GBPUSD Price Action: Outside bar Trade Setup, 29/03/2013

 

 I did point out in yesterday's commentary that there was a hidden support on the pair as the Trade room closed out its previous short trade on it. Price has moved higher today as expected and could target near term resistance at about 1.5260.

My Recommendation: Look out for Long entries on the intraday time frames.

GBPUSD Price Action: Further bears on Outside Bar Setup stalling. 28/03/2013

 

 GBPUSD appears to be stalling on possible further declines in-spite of its hitting a very significant resistance point at about 1.5206 and giving off an outside bar Trade Setup. The Trade Room was short based on the outside bar setup but quickly took profits before our TP had reached. We wait to see how price reacts now.

My Recommendation: Wait to see if we are bullish in the next trading day then go with the bulls.

USDCHF Price Action: Breakout 28/03/2013

 

The pair has broken out. Further inclines are expected however, rotation back into new support area would be ideal for new long entries pending good Price Action Setups on the 4hour time frame.Join me in the Trade room to see how I intend trading this pair.

My Recommendation: Wait for rotations into support to go long on this pair.

EURJPY Price Action: Bearish Fakey Trade Setup, 28/03/2013

The Fakey Trade Setup on this pair could send prices lower. Notice also that price closed slightly below support.

My Recommendation: I would wait a bit longer to make an entry based on this setup.

EURCHF Price Action: Counter Trend Pin bar Setup, 28/03/2013

The eurchf gave off a counter trend pin bar on its horizontal support, at the close of today's session. It is a very interesting scenario because just 2 days back, I had ran a commentary on the fakey with pin Trade setup on the pair and the Trade Room had gone short based on that setup. We will hold the short position entered earlier and see how traders react to this counter trend Pin bar Setup

My Recommendation: If you are short already, remain short

Crude Price Action: Pin Bar Trade Setup Fails, 27/03/2013

 

The Trade room was going to trade this setup and I actually did give a trade call on it, but did a quick reverse when I took another look at the 4hr chart pattern. (Which I use to filter out potentially good setups). Now that resistance is broken, long entries will be made if price manages to rotate lower into New Support at 94.82 pending good price Action Setups.

My recommendation: Wait for price to reach Support or Resistance 

USDJPY Price Action: Inside Bar Trade Setup, 27/03/2013

 

The inside bar trade setup indicates indecision, but at a support zone, it could be of more interest to buyers. Note that price had dropped from another price action trade setup (the outside bar), therefore, momentum is with the bears.I would be more interested in going short if price were to rotate higher into resistance but if the support at 94.08 manages to get broken, price could target the next support at 91.17

My Recommendation: Wait out this scenario. There will be more clear cut trading opportunities.

USDCHF Price Action: Pin and Counter Trend Pin Trade Setup, 27/03/2013

 

 We have a very interesting setup on this pair. Lower prices were strongly rejected during trading yesterday and the most natural expectation, was for further incline however, we have a minor snag on the expected bullish run with the appearance of a counter trend pin bar at the close of trading today. The counter Pin bar could send prices rotating back into support at about 0.9436 where price action setups to rejoin the more dominant bullish momentum would be eagerly awaited.

My Recommendation: Stay neutral (sit on ur hands or go have some fun out doors)

EURJPY Price Action: Outside Bar Trade Setup pulls off, 27/03/2013

 

The outside bar trade setup discussed on the pair in my Price Action Commentary on the 22nd March 2013 has come off quite good. The Trade room was able to bow out with a nice reward of about 250pips from our entry (I decided to show a chart carrying the trade rooms entry point). At the moment, price is at support and has given off an inside bar trade setup. I would advice that traders wait to see th reaction of the market at this zone before jumping into new trades.

My Recommendation: Stay neutral.

Gold Price Action: Fakey with Pin Price Action Setup, 26/03/2013

 

When I ran a commentary its inside bar Trade setup on the  21st March, I recommended a continued bullish bias on the pair. Not much had changed with respect to that as price set off a Fakey with Pin Price Action Setup, as price got rejected, in an attempt to trade below dynamic and horizontal supports. Expectations are for continued higher prices in the coming days.

My Recommendation: Stay bullish.

Crude Price Action: Pin Bar Trade Setup, 26/03/2013

 

Crude finally reached our TP and Resistance (95.00) today, giving us a nice 1:2 risk/reward (250pips) as it did, in our long entry on it from the initial Fakey with Pin Bar trade setup of the 19th March. Price was immediately rejected at resistance and this could lead to sellers getting in and sending prices lower. However, immediate support is found at about 93.90. Price must break below it for any significant sell off to come into play.

My Recommendation: Sell cautiously with stops above the tip of pin.

AUDCHF Price Action: Fakey with Pin Trade Setup, 26/03/2013

The Pin bar trade Setup that drew my attention to this pair has eventually failed. The Pair closed above all visible barriers with a Fakey with Pin Price Action Setup. Expectation are for the pair to aim for higher prices in the comming days.

My Recommendation: Buy pair with SL below recent lows.

EURAUD Price Action: Fakey With Pin Trade Setup, 26/03/2013

 

The bearish trend on the EURAUD is yet to give any sign of letting off. The pair closed significantly below the inside bar and support zone. This is a breakout coupled with a Fakey with Pin trade setup. This trade has good potential to sell off, however, we must note that the trade carries significant risk in the potentially high stop loss.Join me in the Trade Room to see how we intend trading this setup.

My Recommendation: This is not a trade for the faint hearted, Sell with stops above recent high.

EURCHF Price Action: Fakey With Pin Trade Setup, 26/03/2013

 

The pair has had a failed attempt at an effective bounce from support at about 1.2168, it was sent back by its inability to break above near term resistance at about 1.2250. A Fakey with Pin Price Action Setup ensures as a result, which could possibly trigger a significant sell-off in the pair.

My Recommendation: Sell on pullback into dynamic resistance with stops above resistance.

EURJPY Price Action: The week Ahead 24/03/2013 - 29/03/2013

 

We have a nice looking bearish outlook on the weekly chart of the EURJPY. The Pin Bar on it from the close  of markets last week suggests so. While immediate support is found at about 120.67, Price will attempt to break down into key support at 115.99 if its able to clear 120.67 decisively.

Gold Price Action: The week Ahead 24/03/2013 - 29/03/2013

 

Gold approaches weekly resistance at about 1625.10. The bears could kick back in from there however, a break above will set the tune for more bulls. price Action Setup on the weekly chart will signify the intention of traders at that point.

AUDCHF Price Action: The week Ahead 24/03/2013 - 29/03/2013

 

I brought our attention to the daily charts of the pair, pointing out the reason to be a bit more patient with short entries based on the Pin Bar Price Action Setup spotted on it (see daily Charts). The weekly chart has also a nice bearish look on it now with the pin bar/inside pin price Action setup on it now. Any significant bears however would be based on the successful break of the Support at about 0.9776.

GBPUSD Price Action: Breakout 23/03/2013

 

When I first spotted and decided to trade the Counter trend Pin Bar Price Action Setup on this pair on the 13/03/2013, little did I know that the pair was up for a breakout. I had also traded the Pinbar setup on it on the 20th of March, which did hit SL, leading to the break of resistance (1.5176). This Scenario turns the table. The previous resistance should now act as the new support as we await a reasonable price action to join in on the emerging trend.

My Recommendation: Buy pair at confirmation of Support.

Crude Price Action: Fakey with Pin Trade Setup, pulls off 23/03/2013

 

 On the 19th of March, I posted a Fakey with Pin Trade Setup on crude. This setup was traded in the premium trade room and after a few scares to some of the new members, the trade eventually moved higher targeting our usual 1:2 risk reward ratio. This is one the things I try to teach in my Price Action Forex Course, setting up your trade based on clear signals and letting it run to its full course.

AUDCHF Price Action: Pin Bar/Inside Bar Setup at Resistance 23/03/2013

 

 The Inside bar Price Action Trade Setup on the pair at resistance coupled with the previous pin Bar Trade Setup could signal a top and a possible change of trend. However, no real change in trend can occur without a clear break of support at 0.9775.

My recommendation: Sell cautiously or wait till support is broken.

NZDUSD Price Action: Breakout 23/03/2013

 

The pair Broke out of its constrained range and should target higher prices in the coming days. It should be noted that the pair had bounced from Key Support at 0.8184 which had served as a good support for this pair on many other occasions.

My Recommendation: Buy pair on failed break of new support.

USDCAD Price Action: Fakey With Pin Setup, 22/03/2013

 

A Fakey With Pin Price Action Setup at the close of trading today could send prices higher in the coming days. This Setup confluences with the horizontal and dynamic supports, therefore is rated quite high. 

My recommendation: Buy pair with stops below recent low.

EURJPY Price Action: Outside Bar Trade Setup, 22/03/2013

 

 The eurjpy successfully covered the gap experienced at market open on Monday but was quickly rejected as it approached Friday's low. Price closes as an outside bar and the expectation is for further decline in the comming days. Join me in my trade room to see how I intend to trade this pair and the like.

My Recommendation: Sell pair with SL above recent highs.

AUDCHF Price Action: Pin Bar/ Pivot Top Trade Setup, still hovering. 22/03/2013

 

 Despite the combo of setups that appeared at the close of trading on the 19/03/2013, I pointed out that it would be a bit too premature to  short the pair. Price at the moment, is trading far higher and about breaking resistance. 

My recommendation: Wait to see reaction at resistance.

GBPCHF Price Action: Fakey with Pin Setup, pullls off: 22/03/2013

 

At the close of the trading day yesterday, I drew attention to the Fakey with Pin Price Action Setup available on the daily chart and recommended going bullish based on the setup. The pair closed higher at the close of today;s trading. Even higher prices are expected in the coming days since the pair has successfully broken from 1,2,3 bottom signifying the end of the previous down trend. 

My Recommendation: Stay bullish

GBPCHF Price Action: Fakey with Pin Setup, 21/03/2013

 

A Fakey With Pin Price Action Setup on the pair, off horizontal and dynamic supports could send prices higher in the coming days. Notice the New support had acted previously as reistance but had been broken and now tends to support the pair while it attempted to break lower again.

My Recommendation: Buy pair with stops below recent lows.

USDCHF Price Action: Pin Bar Setup, 21/03/2013

 

A Pin Bar Price Action Setup has been spotted on the daily chart of the pair, confluencing with dynamic and horizontal supports. This setup could push price higher in the coming days.

My Recommendation: Buy cautiously resistance just above (0.9490)

Gold Price Action: Inside bar setup, 21/03/2013

 

The Metal had since bottomed and we now seek price Action Setups to join the emerging bullish trend. The inside bar in an uptrend would usually signify a continuation of the bullish trend. Confirmation would be the break of the mother bar high. 

My Recommendation: Stay bullish

Silver Price Action: Fakey with Pin Setup, 21/03/2013

 

I did point out in the weekly chart that the metal seem to have bottomed out and that good bullish entries were to be sort after, pending nice price Action Setups. We have one today, following the close of the trading session. The Fakey with Pin Price Action Bullish setup could trigger the metal into the much awaited bullish frenzy. 

My Recommendation: Buy the pair with stops below recent lows.

GBPUSD Price Action: Pin Bar Trade Setup 20/03/2013

 

We traded the Pin Bar Price Action trade setup on this pair on the 13th and made a nice 1:2 risk to reward on it. Now we are faced with bullish rejection at the previous horizontal resistance as well as the dynamic resistance. A pin bar formed at the close of trading on 15th March as well as these other slightly bearish candles give further credence that the bears could jump in and send prices lower.

My Recommendation: Bears are favoured.

GBPCHF Price Action: Inside Pin Bar 20/03/2013

 

 The pair broke above resistance which it could now use as a support to trade higher in the coming days buttressed by the inside pin bar Price Action Trade Setup at the close of trading today. This trade looks good enough to deliver a risk reward ratio of 1:2. Join us in the Trade Room to see how we will be trading this setup.

My Recommendation: Bulls are favoured.

AUDUSD/NZDUSD Price Action: Inside Bar Trade Setup 20/03/2013

 

AUDUSD (above) closed the day with an inside bar after price had broken through Resistance at about 1.0366. This is an indication of indecision in the market. Given this setup, we could see a minor pull back into support at about 1.0273 where new buy entries could be made pending price action.

 

The NZDUSD faces bearish pressure as it hits dynamic resistance. The inside bar price Action Setup is a sign of indecision but because of the previous bearish trend on this pair, traders could push prices lower in the coming days. Support is seen at 0.8160

Crude Price Action: Fakey with Pin Trade Setup, 19/03/2013

 

We've got a bullish Price Action Setup on crude. The Fakey with pin Price Action Setup, which also managed to break resistance, could send prices higher in the coming days. Join us in the Trade Room to see if and how we intend to trade this setup.

EURJPY Price Action: Pin Bar Trade Setup gaps down 19/03/2013

 

The setup on this pair was simply perfect to go with the bears but unfortunately, we had a huge gap and many traders didnt have the chance to milk it. Many would have noted that I almost called it a bread and butter setup from the way I sounded about it in my last commentary on Friday 16th March. I expect the pair to trade lower in the comming days.

My Recommendation: Look for entries to sell the pair on intra-day time frames.

AUDCHF Price Action: Pin Bar/ Pivot Top Trade Setup 19/03/2013

 

 I usually don't trade this pair but I was drawn to it by a few other commentaries I saw on it from different Analysts today. The pair has given off a combo price action setup at resistance (The Pivot Top/Pin Bar Price Action Setup). Many traders would have gone in on the trade earlier than now but experience has shown that the setup usually takes a while to pull-off given that there was a strong bullish trend prior to it. In a day or two, if price fails to break above the resistance just above, we then could be faced with a sell-off on the pair.

My recommendation: Sell at another failed break of resistance.

GBPJPY Price Action: Closing Price Reversal gaps down 19/03/2013

 

 In my last commentary on the pair, I posited that based on the setup given off at the close of trading on friday 15th March (The Closing Price Reversal Price Action Setup) that the pair now faced significant bearish pressure. However, many Traders didnt get the chance to ride down south today as a result of the huge gap given off as market opened. But during the trading day, we had a pullback closing this gap. If the pair fails to penetrate the resistance shown above once again in the coming day()s, we could be faced with a bigger selloff than experienced with the gap.

My Recommendation: Stay neutral while price stabilizes.

EURAUD Price Action: Pin Bar Trade Setup, 16/03/2013

 

The price action on this pair suggests that the bears are still in control. A pin bar, showing rejection of a previously broken support in an attempt to force a failed break should result in further sell-off of the pair. 

My Recommendation: Bears should prevail into the next support zone

EURJPY Price Action: Pin Bar Trade Setup, 16/03/2013

 

 We have an interesting Pin Bar Price Action Trade setup on this pair which looks simple enough to easily deliver a 1:2 Risk/Reward or even 1:3 Risk/Reward. Join me in the members area to see if and how we will be trading this setup.

My recommendation: Bears are favoured with stops above the recent highs.

GBPJPY Price Action: Closing Price Reversal 16/03/2013

 

 There has been a massive reaction/rejection at the 145.80 resistance point, sending price lower and closing below the previously broken resistance at about 143.90. This has lead to the formation of a closing Price Reversal Price Action Setup. Expectation is for price to fall lower into support zone at about 138.90. Traders may want to join my Trade room to see and join in the way we will be trading this setup and its likes.

My Recommendation: Bearish entries with stops above recent high

USDCHF Price Action: Closing Price Reversal send price lower 16/03/2013

 

 I did point out yesterday that this pair could have come to the end of its recent very bullish run, as a result of the Closing Price Reversal Price Action Trade Setup, from the close of the trading session the previous day. Even though it didn't appear trade-able to me, Traders did jump into this setup hence pushed price lower, breaking the trend-line and hitting but failing to break support.in the process. As a result, my expectation is for price to rotate higher in the coming days, and if price fails to break above the recent previous high, we would be faced with a massive sell-off of the pair.

My Recommendation: Wait out this scenario

USDCHF Price Action: Closing Price Reversal 15/03/2013

 

Some Traders will call this the piercing line but I prefer calling it the Closing Price Reversal Trade Setup. There is a huge indication that the recent very bullish trend has come to a halt. This setup as it appears is not tradeable, but if price does rotate lower, I will be looking to rejoin the bulls at about support zone as pointed out in the chart.

My Recommendation: Sitting and watching