EURGBP Price Action: Pivot Bottom Trade Setup, 29/04/2013

 

 The previous Key support Zone on the EURGBP (around 0.8420) has halted the sell off on the pair once again, after previously halting it and going bullish after a Fakey with Pin Price Action Setup. This time around, we have a Pivot Bottom Price Action Setup. If this setup pulls off and is able to break through immediate resistance at about 0.8470, price would then attempt to reach Key Resistance at about 0.8570.

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EURAUD Price Action:Closing Price Reversal Price Action Setup, 29/04/2013

 

The last time I ran a commentary on this pair, I did discuss its Closing price reversal setup. Once again, we have a similar setup but this time, price has shown even greater reluctance to reach previous higher prices. If this setup pulls off and does manage to break through immediate support at about 1.2603, The next support is not seen until about 1.2470

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GBPJPY Price Action: Closing Price Reversal Price Action Setup, 27/04/2013

 

In my last post on the Geppy, I mentioned that price had hit resistance following the previous Inside Pin Price Action Setup. Friday's Trading saw a significant sell-off on the pair and a subsequent Price Action setup: The Closing Price Reversal Setup. Expectations are for further bears in the coming days with supports at 149.90 - 147.60 zone.

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EURUSD Price Action: Inside Bar Price Action Setup, 27/04/2013

 

 I had expected a resumption of a down trend following the Pin Bar on the Euro at the close of Trading on Thursday 25th April, but there was a significant reluctance on the part of traders to sell this pair hence, we ended the day with an inside bar Price Action Setup. Following this setup, I would expect a bit more bullishness on this pair and watch reaction of the pair as it approaches the resistance zone as indicated above.

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AUDUSD Price Action:Pin Bar Price Action Setup, 27/04/2013

  

The Aussie closed Friday with a clear bearish pin bar price action sell setup as price failed to stay buoyant as it approached the dynamic resistances. Twice in two days, the dynamic resistances acted as a catalyst for sell triggers and with a close now, below the minor support, the road seems clear for more bears in the coming week.

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NZDUSD Price Action: Inside Pin Price Action Setup. 27/04/2013

 

 The last trading day of the week saw the Kiwi close with an Inside Pin Price Action Setup, after price twice failed to clear resistance at about 0.8510. If this setup pulls off, I expect a significant bearish push into support at about 0.8400 - 0.8300 regions.

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USDCAD Price Action: Fakey with Pin Price Action Setup, pulls off. 25/04/2013

 

 Following the Fakey with Pin Price Action Setup discussed on the 22nd April, Price has tumbled lower after another couple of Pin Bars. Price should attempt to reach Support as shown above.

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GBPJPY Price Action: Fakey with Pin Price Action Setup, pulls off 25/04/2013

 

The Fakey with Pin Bar Price Action Setup pulled off gracefully as it hits resistance as shown above. This bullish move had been anticipated following the Inside Bar price Action Setup pointed out on 22/04/2013. 

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AUDUSD Price Action:Pin Bar Price Action Setup, 25/04/2013

 

The Dynamic resistance managed to prevent the Aussie from getting past it, significantly initiating a sell-off as the pair hit it, however, I consider this setup a low quality price Action setup, since the rejection didnt coincide with the horizontal resistance. I will sit out this Setup.

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EURAUD Price Action:Closing Price Reversal Price Action Setup, 24/04/2013

 

 Following a failed attempt by the pair to break higher above 1.2750 Zone which happens to be a Key Resistance Zone and subsequent closure below 1.2680 from the trading of the last 3 days, this pair is expected to initiate a sell-off that could see prices moving into support zones as shown above.

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EURUSD Price Action:Fakey With Pin pulls off, hits minor support 24/04/2013

 

The Euro pulled higher today after hitting minor support at about 1.2950. While I still expect further bears on this pair, it is important not to discount this support zone which holds the key to lower prices. Price had initiated this bearishness following the Fakey with Pin Price Action Setup four days back.

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Gold Price Action: Inside Bar Price Action Setup, 23/04/2013

 

The metal needed a breather after the massive sell off its been faced with recently but it does seem like the bulls may be unable to push it past this confluence of the horizontal/dynamic resistance region. An inside bar at resistance as seen on its chart could send prices back to recent lows as long as its mother bar high is not violated.

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NZDUSD Price Action:Pin Bar Price Action Setup, 23/04/2013

 

Four days ago, the Kiwi failed in its attempt to move higher, this was again quickly followed by yet another failed attempt to rotate higher the next day. Both days closed as pin Bars, an indication that we were to see lower prices. Despite today's close being a Pin Bar, the downside side bias and pressure remains not until the resistance Zone is convincingly cleared as indicated above in the chart.

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GBPJPY Price Action: Inside Pin Price Action Setup, 22/04/2013

 The Geppy traded within the body of its previous candle but closed higher than its previous closing price, to suggest that the bulls are still very much in control. The Inside Pin Bar Trade Setup should aid the pairs attempt to reach resistance at about 153.40.

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USDCAD Price Action: Fakey with Pin Price Action Setup, 22/04/2013

The Loonie was sold off as it attempted to cross through 1.0285 (a very Significant Resistance) with price eventually closing below last fridays closing price, forming a Pin Bar in the process. The pair had been expected to push higher as a result of the previous 2 Pin Bars. This present Fakey with Pin Trade Setup could push prices lower into Minor support at about 1.0210. 

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EURJPY Price Action: The Week Ahead 21st -26th April, 2013

 

A Pinbar off a confluence zone of the 8ema dynamic and horizontal supports should push prices higher within this week.

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GBPUSD Price Action: The Week Ahead 21st -26th April, 2013

 

The Pivot top price action setup gives us great reason to expect a resumption of the previous more dominant down trend on the pair. My bias on this pair for the week is bearish.

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USDCAD Price Action: The Week Ahead 21st -26th April, 2013

 

 The weekly ended with a Pivot bottom price Action Setup. This points to re-newed bullishness but there has to be a break of the resistance just above at about 1.0284 for that to happen. On the contrary, if this resistance fails to give way, we shall have a resumption of a down trend.

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Fakey With Pin Price Action Video on GBPUSD 20/04/2013

Watch My Latest Price Action Video (Fakey with Pin Trade Setup on GBPUSD 19/04/2013)

USDJPY Price Action: Closing Price Reversal Setup, pulls off, Hits Resistance. April 20, 2013

 

 It remains to be seen if we will get a break of this resistance zone. The Trade Room did take a handsome 138pips from this setup.

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NZDUSD Price Action: Pin Bar Trade Setup, April 20, 2013.

 

 There is Pin Bar Trade Setup off the Dynamic/Horizontal Resistances on the daily Chart of the pair. This is inline still with the previous Closing Price Reversal Setup analysis on the 18th April. Further bearishness is expected.

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AUDUSD Price Action: Pin Bar Trade Setup, April 20, 2013.

 

I recommended selling this pair at the time I analyzed the Closing price Reversal Setup on April 17th and my bias on it remains unchanged still. In-fact the Pin Bar Trade Setup on it now should entice more sellers into sending prices lower.

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GBPUSD Price Action: Closing Price Reversal Trade Setup, April 20, 2013.

 

At my previous commentary on the pair, I advised being a bit more patient to ascertain its true direction. Now, GBPUSD has made a failed attempt at going long, following the inside Bar Trade Setup of the 18th April. A Fakey with Pin Price Action Trade setup ensures which closes below the previous support which should now act as resistance in sending the pair lower.

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USDCHF Price Action: Minor Fakey With Pin Trade Setup, April 20, 2013.

 

 Following the Closing Price Reversal Price Action Setup Which was Spotted on the chart 2 days ago, a Minor Fakey with Pin Price Action Trade Setup appears, complimenting the previous Trade Setup. If price manages to remain buoyant and break above the near resistance at about 0.9370, It should then make a dash towards the recent highs.

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NZDUSD Price Action: Closing Price Reversal Trade Setup, April 18, 2013.

 

Price fell lower today after NZDUSD gave out a closing Price Reversal Setup at the close of Trading yesterday. Expectation is for price to continue lower into Support around 0.8350.

My recommendation: Stay bearish

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AUDUSD Price Action: Closing Price Reversal Trade Setup, April 18, 2013.

 

 I recommended selling this pair yesterday following the nature of its Closing Price Reversal Trade Setup. My bias on this pair remains unchanged.

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GBPUSD Price Action: Inside Bar Trade Setup, April 18, 2013.

 

 I advised going short on this pair if we could get a reasonable bearish push on the pair before London open yesterday, which eventually didn't happen. Instead, price moved and closed above the support line. Traders seem undecided on the next direction of this pair.

My Recommendation: Waiting one day to allow market decide on its direction.

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USDJPY Price Action: Closing Price Reversal Trade Setup, April 18, 2013.

 

Following the Closing Price Reversal Trade Setup found on the pair, after price rotated into Key near term support at 86.59, there seem now, to be a resumption of the more dominant bullish trend. Expectations are for price to approach Resistance at about 99.70.

My Recommendation: Stay bullish

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AUDUSD Price Action: Closing Price Reversal Trade Setup, April 17, 2013.

 

AUDUSD nose dived after hitting Key Resistance at about 1.0580, racing past Support at 1.0365 and now closing below another support at 1.0300. It does appear that the bears are still very much in control therefore price should approach the next support around 1.0220 in the coming days. The Closing Price Reversal price Action Trade Setup also is in support of more bears.

My Recommendation: Sell pair with stops above the Closing price Reversal candle.

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GBPUSD Price Action: Closing Price Reversal Trade Setup, April 17, 2013.

 

 GBPUSD has broken support at around 1.5260 after a failed attempt to target higher prices. If this break is sustained, price will attempt to reach lower prices. Hidden support is still at about 1.5030.

My Recommendation: I would support shorting this pair if we can get lower prices before the London Session.

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USDCHF Price Action: The Week Ahead, 14/04/2013-19/04/2013

 

Price has fallen lower following the outside bar price Action Spotted last week. There is no Key Support seen on the weekly chart till about 0.9070.

 

 Price Broke through minor Daily Support at about 0.9290 an indication that the recent bearishness on the pair should continue.

GBPCHF Price Action: The Week Ahead, 14/04/2013-19/04/2013

 

Following the Closing Price Reversal Setup spotted on the pair last week, price has pulled lower modestly. I do envisage even lower prices. Key Support is seen at 1.4025

 

The Daily Chart also offer a Fakey/Closing Price Reversal Setup. Price Should attempt to Target Support as long as the New Resistance at 1.4288 remains unbridged.

USDCAD Price Action: The Week Ahead, 14/04/2013-19/04/2013

 

USDCAD retraced Slightly after hitting Key Weekly Support, Though, no Price Action Setup is seen on the weekly chart, our attention will be more on the daily.

 

The Daily Chart does show the formation of an Inside Bar. This stands for indecision. However, Since price is currently on Support, We will be more inclined to buying the pair but there is no clear setup to go with on this pair since the weekly chart is not in line with it yet.

GBPJPY Price Action: The Week Ahead, 14/04/2013-19/04/2013

 

GBPJPY pulled back extensively withing the week after an initial continuation of the more dominant bullish trend forming a counter Trend Pin Bar. Price may attempt to reach the Support seen at about  146.00 From where the more dominant bullish Trend could resume pending price Action.

 

The Daily Chart seems to also support the expected Rotation back into Support with the formation of the Pivot Top Price Action Setup. 

AUDUSD Price Action: Continues bullish surge after Closing Price Reversal, 12/04/2013

 

 The AUDUSD has continued to surge higher after the bullish Closing Price Reversal Setup, discussed in my trade Commentary on the 08/04/2013. It remains to be seen if the resistance just above at 1.0578 can put a halt to this massive bullish move.

My Recommendation: Buy pair on intraday time frames and pullbacks.

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GBPCHF Price Action: Inside Pin Bar Price Action Setup, 12/04/2013

 

In its attempt to go bullish, GBPCHF broke through resistance at 1.4285 on the 21st March after it formed a Fakey with Pin Price Action Setup. Price has once again pulled back into the resistance which now tends to acts as support on the pair. An inside Pin Bar Price action setup ensures indicating a resumption of possible bullishness and if this setup pulls off, price would attempt to reach resistance at 1.4531.

My Recommendation: Buy pair with stops below recent lows.

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USDCAD Price Action: Inside Bar Price Action pulls Lower. 10/04/2013

 Price has pulled lower following the Price Action Inside Pin Bar Trade Setup discussed April 8th. The Trade Room is short on this pair and expecting to make our usuall 1:2 Risk Reward from it.

My Recommendation: Stay Bearish.

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AUDCHF Price Action: Closing Price Reversal Price Action Setup Pulls off. 10/04/2013

 

 The pair has gained considerable bullish momentum following its hitting support after a massive selloff from its previous Pin Bar on the 4th April. This Closing Price Reversal price Action Setup has pulled off considerably and with the EMA's failing to cross over, We may then be in for extensive buying pressure in the pair.

My recommendation: Stay bullish or look for intraday Price Action bullish setups

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EURUSD Price Action: Pulls higher after Inside Bar, 09/04/2013

 

Price has continued to pull higher after the Closing Price Reversal Price action Setup of the 5th April. An inside Bar Price Action setup which also closed above resistance has also acted in sending prices even higher. Immediate target is seen at about 1.3162 which is is the near term resistance.

My Recommendation: Stay bullish

GBPUSD Price Action: Inside Bar Price Action Setup, 09/04/2013

 

 Following the Break of resistance discussed here 07/04/2013, An inside Bar Trade setup emered at the close of Trading yesterday. An inside bar in an uptrend after a confirmed break would usually lead to higher prices and we do see here that price moved higher today. Expectations are still for even higher prices with resistances at 1.5500. 1.5620 as immediate targets.

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AUDUSD Price Action: Closing Price Reversal pulls off, 09/04/2013

 

I have had a lot of people call or email me to ask how I plot my horizontal lines or if I have an automatic plotter or something like that but Ive always given them the same answer; "NO"  The more you look at the charts and plot these lines, the better you will get.

The Closing Price Reversal Price Action Setup discussed yesterday has pulled off, piercing resistance at 1.0484. This is an indication of even higher prices, however, we could be faced with slight rotations back into dynamic and minor intraday supports.

NZDUSD Price Action: Pin Bar/Inside Pin Bar Combo Setup, hits Resistance. 09/04/2013

 

This Pin Bar/Inside Combo Setup was discussed in yesterday's commentary and the pair has eventually hit resistance as expected, netting the Trade Room 112pips in the process. This goes to show the immense power available to trading the markets with just price Action.

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AUDUSD Price Action: Closing Price Reversal Trade Setup, 08/04/2013

 

 AUDUSD closed above key support zones (between 1.0370 & 1.0407) after price failed to close below these zones. A Closing price Reversal Price Action Setup ensures subsequently. If this setup is sustained, price would attempt to reach the next resistance zone at about 1.0485.

My Recommendation: One more trading day's wait is necessary.

USDCAD Price Action: Inside Pin Bar Trade Setup, 08/04/2013

 

The last 2 trading days has seen price fail to close beyond the horizontal and dynamic resistances, with today's failure, leading to the formation of an Inside Bar Price Action Trade Setup. This scenario could lead price dropping lower into the near by support zone at about 1.0100. 

My Recommendation: Sell pair, with stops above recent highs.

NZDUSD Price Action: Pin Bar/Inside Pin Bar Combo Setup, pulls off. 08/04/2013

 

A pair of Pin Bar/Inside Pin Bar combo Price Action Setups on the NZDUSD daily chart, has pulled higher, breaking through and closing above resistance at 0.8445. Price should attempt to peel off, continuing bullish, into the next resistance at about 0.8530.

My Recommendation: Stay bullish

AUDCHF Price Action: The week Ahead, 07/04/2013 - 12/04/2013

 

 The Fakey Setup on the AUDCHF from the close of trade last week has come off quite good on the pair with this week closing as a bearish outside bar. Expectations are for even lower prices in the coming weeks.

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We can see that following the daily Pin Bar Trade setup discussed on the 04/04/2013 and its subsequent break of Support on the 05/04/2013, price has fallen significantly lower into Key support. Rotations back into intraday/daily resistances could now follow in the early part of the week.

My recommendation: Sell pair on roatations back into Daily/Intraday resistances.