Wednesday, July 31, 2013

NZDUSD Price Action: Pin Bar at Support. July 31, 2013.

The recent pullback on the Kiwi has been halted at the demand Zone (0.7960) . A Pin bar price action Trade Setup at this zone is quite significant as buyers could further push the pair higher. Entry will be based on the intraday time frames pending significant price action inline with the expected bullish move. Targets will be at about the recent high.

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Tuesday, July 30, 2013

GBPUSD Price Action: Pivot Top/ Inside Bar Combo at Resistance. July 29, 2013

 GBPUSD still faces significant bearish rejection after price price closed Friday as an inside bar, following the previous Pivot Top Price Action Trade Setup discussed in my last Trade Commentary on the pair. Price could therefore, fall into its demand Zone, however, if the demand zone fails to hold price and we get a break instead, we would then be in for a change in trend.

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Sunday, July 28, 2013

EURGBP Price Action: Inside Bar Price Action close to Resistance. Against Market open July 28, 2013

 The EURGBP closed last Friday with an inside bar price Action Setup. In the present bullish market, price should aim higher but must first close above the mother bar of the inside bar setup. If that is achieved, price should then head towards the recent daily high whereas a failed attempt to close above this mother bar could send prices crashing lower, since price is already very close to its Resistance Zone.

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Thursday, July 25, 2013

NZDUSD Price Action: Breaks out, remains bullish. July 25, 2013

"Break of supply Zone, further bullish bias" This was the headline to the last commentary I ran on the Kiwi and price has equally remained bullish, inline with expectations after a minor retracement into the zone I had considered as its new support. While we anticipate even further bullishness on this pair, it won't be out of place to get rotations back into its demand zones as indicated in the chart above. Bullish trade setups would be sort at about those zones if indeed the pair rotates lower.

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Wednesday, July 24, 2013

GBPUSD Price Action: Pivot Top Price Action Trade Setup. July 24, 2013

 The very bullish run of the Cable now seem to want to take a breather, going by the price action sell setup spotted at the close of trading today. A Pivot Top Price Action Setup (as we have on its daily chart now) is a three candle pattern where  the high of the middle candle is higher than both the highs of the candles to its left and to its right. It signals a reversal to the downside might be setting up. In the anticipation of the expected retracement or reversal, the trade room made an early sell entry, with a SL of just about 30pips at the time. Expectations are for the pair to be priced lower as we approach the last couple trading days of the week and if this happens, we will be watching the demand zones as depicted in the chart above for possible buy signals.

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Tuesday, July 23, 2013

EURUSD Price Action: Euro hits Resistance (Supply Zone). July 23, 2013

In the last commentary I ran on the euro on July 18, I did mention that the pair was yet bullish, despite trading deep into its supply zone (Resistance). The outcome has been the continued dominance of the bulls over the bears, however, after the pair failed to trade significantly higher from the previous days high, I would recommend a scaling out of long entries. The bullish bias remain and re-entries could be sort on retracements back into its demand zone as indicated above.

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NZDUSD Price Action: Break of Supply Zone. Further bullish bias. July 23 2013.

The Kiwi has broken through its supply zone after a failed Fakey with Pin Price Action Setup. A few of my students felt they had to trade that setup but I had cautioned against it and gave an extensive lesson on why not to in my advanced price action class. The Pin bar that was supposed to be the trigger had closed above a significant zone, which meant sellers couldn't push the price far into an area that would have triggered off a sell on the pair. Subsequently, the bulls still took charge and pushed prices above the Supply Zone and above the high of the supposed trigger Pin bar candle, hitting many stops of those who may have gone short on it. Following this scenario, fresh bullish intraday setups would be sort at about the New support.

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Sunday, July 21, 2013

EURUSD DAILY Price Action: Pulls higher after July 18 Pin Bar. July 21, 2013

1374439282-clip-34kb

The EURO is on a bullish run. Despite being deep within its supply zone, buyers still seem to have an upper hand in the market and if the pressure is sustained, price could push out from this zone and into even higher prices. The entire scenarion is supported with the presence of a Pin Bar after the close of market on Thursday, July 18.

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EURJPY Price Action: Pin bar Trade Setup pulls significantly higher. Against Market Open, July 21, 2013

 On July 11th, I drew our attention to the Pin Bar Trade Setup on the pair and did a follow up on July 15. The pair has indeed continued to make higher prices as it now approaches its supply zone. It would be interesting to see how price reacts within this zone. Buyers could begin to scale out their long positions.

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Weekly Trade Room result: Week ending July 19, 2013.


InstaForex Companies Group

Account: 60607288 Name: APAFTT FX Currency: USD Leverage: 1:500 2013 July 21, 07:02
Closed Transactions:
TicketOpen TimeTypeSizeItem PriceS / LT / PClose Time PriceCommissionTaxesSwapProfit
1740578492013.07.12 00:31buy2.00eurjpy129.70127.93132.602013.07.16 20:18130.270.000.000.32114.99
1740996492013.07.12 09:43sell2.00usdjpy99.01100.6497.442013.07.18 17:24100.640.000.00-0.36-323.93
1741247292013.07.12 12:08sell2.00eurgbp0.86140.86700.84882013.07.16 11:180.86700.000.00-0.66-168.87
1742446982013.07.14 01:52balancetrade result for 2013-05351.89
1745207882013.07.16 13:00sell2.00eurusd1.30770.00000.00002013.07.16 13:001.30790.000.000.00-4.00
1745210972013.07.16 13:01buy2.00eurusd1.30811.29931.31752013.07.17 14:521.31300.000.000.2098.00
1746102432013.07.16 20:00sell2.00gbpjpy149.89151.06148.742013.07.17 11:30151.060.000.00-0.26-234.54
1747314322013.07.17 13:39sell2.00usdcad1.03901.04401.01732013.07.17 18:291.04400.000.000.00-95.79
1747140922013.07.17 15:38buy2.00usdzar9.87069.767610.02512013.07.18 17:259.89240.000.00-6.8044.07
1749154232013.07.18 09:04sell2.00euraud1.42751.43061.42242013.07.18 09:391.43060.000.000.00-56.86
1749397382013.07.18 12:01buy2.00audusd0.91730.90350.92952013.07.19 14:130.92250.000.001.36104.00
1749435092013.07.18 12:42sell2.00eurnzd1.66431.67621.63212013.07.19 14:131.64470.000.001.11313.01
1750892882013.07.19 09:21sell2.00usdzar9.91579.95419.85312013.07.19 14:069.85310.000.000.00127.07
1750998942013.07.19 10:40sell limit2.00eurchf1.23800.00000.00002013.07.19 12:071.2371cancelled
1750998272013.07.19 12:00sell2.00gbpchf1.43771.44021.43752013.07.19 14:441.43750.000.000.004.25
  0.00 0.00 -5.09 -78.60
Closed P/L: -83.69
Open Trades:
TicketOpen TimeTypeSizeItem PriceS / LT / P  PriceCommissionTaxesSwapProfit
1750996252013.07.19 11:54sell2.00gbpcad1.58211.58791.5648 1.58350.000.000.17-27.00
1750861732013.07.19 09:28sell2.00usdcad1.03771.04411.0206 1.03700.000.000.2913.50
1751511792013.07.19 16:33sell2.00usdzar9.86959.95519.3416 9.88140.000.001.10-24.09
  0.00 0.00 1.56 -37.59
 Floating P/L: -36.03
Working Orders:
TicketOpen TimeTypeSizeItem PriceS / LT / PMarket Price 
1751174262013.07.19 12:34buy limit2.00eurusd1.30800.00000.0000 1.3144
 
Summary:
Deposit/Withdrawal: 351.89 Credit Facility: 0.00  
Closed Trade P/L: -83.69 Floating P/L: -36.03 Margin: 141.00
Balance: 7 450.06 Equity: 7 414.03 Free Margin: 7 273.03
 
Details:  
Gross Profit: 801.58 Gross Loss: 885.27 Total Net Profit: -83.69
Profit Factor: 0.91 Expected Payoff: -6.44  
Absolute Drawdown: 671.76 Maximal Drawdown: 671.76 (8.92%) Relative Drawdown: 8.92% (671.76)
 
Total Trades: 13 Short Positions (won %): 9 (33.33%) Long Positions (won %): 4 (100.00%)
Profit Trades (% of total): 7 (53.85%) Loss trades (% of total): 6 (46.15%)
Largest profit trade: 314.12 loss trade: -324.29
Average profit trade: 114.51 loss trade: -147.55
Maximum consecutive wins ($): 5 (588.07) consecutive losses ($): 3 (-476.94)
Maximal consecutive profit (count): 588.07 (5) consecutive loss (count): -476.94 (3)
Average consecutive wins: 2 consecutive losses: 2

Thursday, July 18, 2013

USDCAD Price Action: Pin Bar at Resistance. July 18, 2013

On July 14, I drew our attention to the break of support on the USDCAD, pointing out that my bias had turned bearish as we waited to see, a significant attempt by price to close above the New Resistance. This is yet to happen since sellers have always pushed price below the new resistance both times the bulls have made such attempts withing the week. Today's failed bullish attempt has led to the formation of a Pin bar Price Action Trade Setup. Price should as a result, commence its bearish run as long as the the minor support gives way and price is unable to bridge this weeks high.

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Wednesday, July 17, 2013

AUDUSD Price Action: . Inside Bar Trade Setup Breaks North, July 17, 2013

 The Aussie seem to have found support after price broke out north from the Inside Bar Trade Setup at Key Support Zone. It is expected therefore that the bulls would kick in fully and attempt to push price higher into the next Key Supply Zone at about 0.9560. However, if this setup fails, price would make a quick dash back into the Key Support Zone and possibly lower.

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Tuesday, July 16, 2013

EURUSD Price Action: Pulls higher after Fakey with Pin Trade Setup pulls higher. July 16, 2013


EURUSD has continued to trade higher following the Fakey with Pin Price Action Trade Setup, with the pair succesfully shaking off its previous bearish undertone after it hit its Key Support (Demand Zone). The trade room managed to get in on a trade off the one hour time frame as its PA presented an oppurtunity to go long which was in tandem with the daily Setup. Price could now target its Key resistance (Supply Zone) if it manages to break the previous week's high.

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Monday, July 15, 2013

EURJPY Price Action: Pin bar Trade Setup pulls higher. July 15, 2013

 My trade commentary on this pair on 11th July spotted a Pin Bar Trade Setup on the pair, it also talked about the ascending trend-line as well as the pair being within its demand zone. The setup has eventually lead this pair higher but it now trades within its (Resistance) supply Zone. The overall trend still remains bullish unless we get significant Bearish Price Action Trade Setup at this zone, with subsequent confirmations at the lower time frames.

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GBPJPY Price Action: Pin bar Trade Setup Pulls higher. July 15, 2013

I had brought the attention of my blog followers to the double Pin Bar on this pair in my trade commentary of the 12th of July, indicating that it suggested that the bulls were more in control of the market at that point. However, I got some emails and comments from some of my blog readers, contesting the efficacy of the trade setup. It is important to note that not all trade setups will lead eventually to profits, some will fail but we must endeavour to always trade what we see and not what we feel. 

My bias remains bullish and bullish entries still could be sort on the intra-day Time frames.

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Sunday, July 14, 2013

USDCAD Price Action: Inside Bar Trade Setup. Against Market Open, July 14, 2013.

USDCAD broke through its key support on Thursday July  11, 2013 and failed to close above it at the end of trading on friday, July 12. If price still fails to close above this Key support zone during early trading in the new week, we then should see further selloff of this pair toward the next Key support at about 1.0167.  Following this scenario, our bias shifts to bearish and attention would be more on the intraday timeframes for good price action sell setups to join the emerging bearish trend.

Subscribe to my Trade Room or my Mentor Programme or my Price Action Course to experience the simplicity of trading Price Action with me. 

Weekly Trade Room result: Week ending July 12, 2013.

InstaForex Companies Group

Account: 60607288 Name: APAFTT FX Currency: USD Leverage: 1:500 2013 July 14, 10:53
Closed Transactions:
TicketOpen TimeTypeSizeItem PriceS / LT / PClose Time PriceCommissionTaxesSwapProfit
1731925592013.07.08 15:52buy2.00eurjpy129.85129.87132.602013.07.09 17:02129.870.000.000.163.95
1733841722013.07.09 12:47sell2.00eurcad1.35801.36211.34882013.07.09 17:551.34880.000.000.00174.49
1734650232013.07.09 19:26sell2.00usdcad1.05281.06111.04202013.07.11 01:471.04200.000.001.14207.29
1735349022013.07.10 08:11sell2.00nzdjpy79.0278.9277.022013.07.11 04:3078.920.000.00-2.3520.13
1736592632013.07.10 21:08sell2.00usdzar10.027610.08749.77382013.07.11 08:329.89650.000.003.27264.94
1738553962013.07.11 08:41sell2.00audjpy91.5892.2390.122013.07.11 23:3090.870.000.000.00143.64
1739100302013.07.11 12:08buy limit2.00eurnzd1.65231.63611.68612013.07.11 22:151.6734cancelled
1739101812013.07.11 12:09buy limit2.00gbpaud1.63261.62151.66782013.07.11 22:151.6568cancelled
1739571212013.07.11 16:06sell2.00gbpjpy149.63150.46148.792013.07.11 21:59150.460.000.000.00-167.56
1740538392013.07.11 23:58buy limit2.00nzdusd0.78250.77500.79572013.07.12 00:410.7847cancelled
1741240082013.07.12 12:02sell limit2.00eurgbp0.86200.86430.84882013.07.12 12:080.8614cancelled
1742446982013.07.14 01:52balancetrade result for 2013-05351.89
  0.00 0.00 2.22 646.88
Closed P/L: 649.10
Open Trades:
TicketOpen TimeTypeSizeItem PriceS / LT / P  PriceCommissionTaxesSwapProfit
1741247292013.07.12 12:08sell2.00eurgbp0.86140.86700.8488 0.86530.000.00-0.33-117.88
1740578492013.07.12 00:31buy2.00eurjpy129.70127.93132.60 129.620.000.000.16-16.13
1740996492013.07.12 09:43sell2.00usdjpy99.01100.6497.44 99.230.000.00-0.06-44.34
  0.00 0.00 -0.23 -178.35
 Floating P/L: -178.58
Working Orders:
TicketOpen TimeTypeSizeItem PriceS / LT / PMarket Price 
No transactions
 
Summary:
Deposit/Withdrawal: 351.89 Credit Facility: 0.00  
Closed Trade P/L: 649.10 Floating P/L: -178.58 Margin: 144.56
Balance: 7 533.75 Equity: 7 355.17 Free Margin: 7 210.61
 
Details:
  




Gross Profit: 816.66 Gross Loss: 167.56 Total Net Profit: 649.10
Profit Factor: 4.87 Expected Payoff: 92.73  
Absolute Drawdown: 0.00 Maximal Drawdown: 167.56 (2.33%) Relative Drawdown: 2.33% (167.56)
 
Total Trades: 7 Short Positions (won %): 6 (83.33%) Long Positions (won %): 1 (100.00%)
Profit Trades (% of total): 6 (85.71%) Loss trades (% of total): 1 (14.29%)
Largest profit trade: 268.21 loss trade: -167.56
Average profit trade: 136.11 loss trade: -167.56
Maximum consecutive wins ($): 5 (673.02) consecutive losses ($): 1 (-167.56)
Maximal consecutive profit (count): 673.02 (5) consecutive loss (count): -167.56 (1)
Average consecutive wins: 3 consecutive losses: 1

Thursday, July 11, 2013

GBPJPY Price Action: Pin bar Trade Setup. July 12, 2013

GBPJPY has been trading within its demand zone for just over a month and has shown reasonable reluctance in breaking through it, leaving room for a break towards the upside. This point of view is supported by the presence of a double Pin Bar from the last two days trading sessions. Bullish entries will therefore be sort on the intra-day time frames, if we get a reasonable Price Action bullish setup.

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Wednesday, July 10, 2013

EURJPY Price Action: Pin bar Trade Setup. July 11, 2013

The EURJPY faced very significant buying presure as it it sold into its demand zone in today's trading leading to the giving off off all previous strength the yen exercised over the Euro. This event lead to the formation of a Pin Bar Trade Setup. Its important to note that the demand zone also coincided with the ascending trendline on this pair. A pin Bar at support at support as we have here should lead to more bullishness, however, there is an obvious supply zone just above as shown in the picture above. If the pair manages to break above this supply zone, we would be in for a new round of buying frenzy on the pair which could send the pair as high into 133.50 or there about.

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NZDJPY Price Action: 4 Hour Fakey Intraday Setup. July 10, 2013

 The Setup above looks like a decent Trade Setup on the 4hour TimeFrame of the NZDJPY. The Fakey Setup could trigger a selloff on the pair. The Trade room is short based on this setup as shown above.

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Tuesday, July 9, 2013

GBPUSD Price Action:More bears to come, 09 July, 2013

The down trend on the Cable which is in its 3rd week seems perfectly intact still. Further given impetus with the break of the inside bar formed at the close of trading Monday, 8th July. Short entries will be sort on the intraday time frames on rotations  back into supply zones.

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Monday, July 8, 2013

EURUSD Price Action: Inside Bar Price Action Setup, 08 July, 2013

The Euro seem to have found support at a previous demand zone. This zone has been very significant in recent times as price had twice this year, failed to break below this level. Therefore, the inside bar price Action Setup formed at this zone at the close of the US session today, could be the trigger for a change in trend however, the major trend on the pair remains bearish, unless price is able to break above the supply zone as indicated above. Meanwhile as the pair rotates higher, Sell Setups would be sort at about that Supply zone, if price fails to trade above it.

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Fakey With Pin price Action trade Setup




The Video Above describes the reason for entry of a Trade Setup Spotted on Monday, July 08, 2013

Sunday, July 7, 2013

Weekly Trade Room result: Week ending July 05, 2013.

InstaForex Companies Group


Account: 60607288 Name: APAFTT FX Currency: USD Leverage: 1:500 2013 July 7, 21:05
Closed Transactions:
TicketOpen TimeTypeSizeItem PriceS / LT / PClose Time PriceCommissionTaxesSwapProfit
1719829382013.06.28 08:48buy2.00usdcad1.04601.04171.05562013.07.01 23:271.04960.000.00-0.5968.60
1721842612013.07.01 00:57sell limit2.00eurchf1.23181.23551.22612013.07.01 10:051.2311cancelled
1721843622013.07.01 00:58sell limit2.00audnzd1.18691.19861.15632013.07.03 18:291.1671cancelled
1721843542013.07.01 04:57sell2.00audjpy91.0091.6788.382013.07.01 14:2591.670.000.000.00-134.46
1721842982013.07.01 07:38sell2.00eurusd1.30291.31041.28852013.07.03 12:011.29590.000.00-1.48140.00
1721842752013.07.01 08:26sell2.00gbpusd1.52231.52811.51392013.07.02 15:301.51390.000.00-0.42168.00
1722306552013.07.01 10:46sell2.00cadchf0.89800.90650.89792013.07.04 15:520.90650.000.00-0.74-178.03
1724073402013.07.02 13:54sell2.00eurjpy129.90131.34127.432013.07.03 12:25129.240.000.00-0.40132.26
1724345982013.07.02 16:00sell2.00euraud1.42181.43191.40382013.07.03 09:521.43190.000.002.12-183.25
1725413012013.07.03 09:58sell2.00gbpjpy152.49152.79151.582013.07.03 11:02151.580.000.000.00182.07
1725855252013.07.03 12:02buy2.00nzdusd0.77460.77580.79992013.07.03 20:540.77670.000.000.0042.00
1725835622013.07.03 12:35sell2.00usdchf0.95030.95330.94532013.07.03 18:140.94530.000.000.00105.79
1725978472013.07.03 13:02buy2.00audjpy90.5890.0891.822013.07.03 20:3090.790.000.000.0042.03
1726071412013.07.03 14:10sell2.00euraud1.42781.43341.40242013.07.03 18:131.43340.000.000.00-101.79
1727078852013.07.04 00:07sell2.00euraud1.43311.44331.40242013.07.04 23:251.41380.000.000.00352.96
1727442662013.07.04 08:26sell2.00gbpusd1.52581.53081.51562013.07.04 14:021.51560.000.000.00204.00
1727665922013.07.04 11:26buy2.00audnzd1.17061.16441.17062013.07.05 10:591.17060.000.000.780.00
1727720532013.07.04 12:09sell2.00usdcad1.05081.05771.04342013.07.05 15:351.05770.000.000.29-130.47
1727737002013.07.04 12:29buy2.00usdjpy99.6999.19100.542013.07.05 11:35100.070.000.000.0675.95
1728972682013.07.05 00:36sell2.00cadjpy95.1195.7492.702013.07.05 15:3395.740.000.000.00-124.99
1728994302013.07.05 01:17sell2.00nzdusd0.78270.78630.77222013.07.05 17:040.77220.000.000.00210.00
1729443412013.07.05 10:07buy2.00euraud1.41161.40631.43102013.07.05 11:401.40630.000.000.00-97.13
1731192232013.07.06 20:05balancetrade result for 2013-0428.88
1731192242013.07.06 20:05balancetrade result for 2013-05-15.88
0.00 0.00 -0.38 773.54
Closed P/L: 773.16
Open Trades:
TicketOpen TimeTypeSizeItem PriceS / LT / P PriceCommissionTaxesSwapProfit
No transactions
0.00 0.00 0.00 0.00
Floating P/L: 0.00
Working Orders:
TicketOpen TimeTypeSizeItem PriceS / LT / PMarket Price
No transactions
Summary:
Deposit/Withdrawal: 13.00 Credit Facility: 0.00
Closed Trade P/L: 773.16 Floating P/L: 0.00 Margin: 0.00
Balance: 6 884.65 Equity: 6 884.65 Free Margin: 6 884.65
Details:

Gross Profit: 1 721.61 Gross Loss: 948.45 Total Net Profit: 773.16
Profit Factor: 1.82 Expected Payoff: 38.66
Absolute Drawdown: 134.46 Maximal Drawdown: 352.30 (5.02%) Relative Drawdown: 5.02% (352.30)
Total Trades: 20 Short Positions (won %): 14 (57.14%) Long Positions (won %): 6 (83.33%)
Profit Trades (% of total): 13 (65.00%) Loss trades (% of total): 7 (35.00%)
Largest profit trade: 352.96 loss trade: -181.13
Average profit trade: 132.43 loss trade: -135.49
Maximum consecutive wins ($): 4 (393.82) consecutive losses ($): 3 (-352.30)
Maximal consecutive profit (count): 452.45 (3) consecutive loss (count): -352.30 (3)
Average consecutive wins: 3 consecutive losses: 1