GBPUSD staying with the bullish trend

These days I comment less on my posts becos you could use a picture to depict a scenario completely as the GBPUSD chart above does.


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GBPUSD EXPECTED TO RALLY INTO SUPPORT

GBPUSD which has been on an extended bullish run looks set to let off some steam as it trades at extreme points as shown in its chart above.


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GBPUSD Pushes higher from Key Support

There was a classic Cup and handle Trade Setup on the GBPUSD which was broken to the long side on the 8th of April. Price came back to that Key support, gave off a Pin bar which has triggered a bullish move on the GBPUSD. This means we are in for continued bullish pressure on this pair.


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Markets Price Action and Trade Setups: THE WEEK AHEAD March 17 - March 21 , 2014. USDCAD, NZDUSD, NZDJPY, GBPUSD, EURAUD,

EURAUD bounced off resistance and looks likely to bounce again, off the support as indicated above. A Pin bar at that zone would be the trigger.

GBPUSD triggered for more bullishness at the close of trading on Friday and this scenario should propel the pair higher in the new week.

NZDJPY is set to trade lower within this week as price hit resistance and gave off a outside bar in the process. 
 

NZDUSD has hit a critical point in its recent bullishness. Price could set-off lower early in the week.

USDCAD still hovers around its resistance zone as price hesitates to break through. Given this scenario, It is expected that the bears would have an upper hand at this zone.


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Markets Price Action and Trade Setups: THE WEEK AHEAD FEB 10 - 14 2014. NZDCAD GBPUSD GBPCHF EURJPY EURAUD AUDNZD

AUDNZD failed to break above a recent resistance zone, giving off a Pin bar in the wake of the false break. This set the tone for a possible sell off and we mapped out the possible entry points. The pair offered three setups within the 4hr time frame to go with the short and we managed to take them all. 

EURAUD false break of its inside bar set the stage for a possible bullish move. The bullish entry has managed to contain the pair and give further credence to the setup. Entry has been made and hopefully, this setup would offer us a good reward. The take profit zone is also mapped here.

The last time we ran a commentary on this pair (EURJPY) we brough our attention to its head and shoulder formation which we expected to send the pair back into support zone. That scenario played out quite significantly and we now have had a reversal as buyers came in hard at this zone. Price shud continue long in the coming week

 GBPCHF also has has given off a nice looking Pin Bar at support and the bullish zone has offered us a chance to join in on the expected bullishness. A 1-2 R/R should easily be met with this setup.

 GBPUSD offered quite a number of oppurtunities for long entries after we got a sinificant Pin Bar at the false break of the support. We managed to place 2 entries and both are already on a 1-2 R/R.

NZDCAD looks like a pair on a mission and we are on board with it. After the formation of the engulfing bar, we mapped out our possible entry zones and were able to make just one entry from this setup.



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Markets Price Action and Formations: THE WEEK AHEAD JAN 13 - 17 2014. NZDUSD EURAUD EURJPY EURUSD GBPUSD GBPNZD

 NZDUSD gave bounced off its support/Entry Zone as buyers jumped in at the chance to move long with the pair in a 1, 2, 3 triggered bullish price formation. The 123 price formation/price action trade setups give the savvy price Action trader an edge in making market decisions. 0.8511 is the key target for the expected bullish move.

 EURAUD is still very much in an uptrend though there now is significant threat to its continuation after price failed to continue lonng after hitting the bullish entry zone. A break below the minor support would initiate a possible change in trend.

 EURJPY still looks significantly bullish as price broke through and still trades above the recommended entry zone. Price should continue long in the coming week.

The euro has bounced off its support/bullish entry point following a 1 2 3 price formation it gave off at the formation of the IPB (Inside Pin Bar) at about December 2014. The CPR (Closing Price reversal Price Action setup now sets the tone for a resumption of the more dominant bullish trend.

 

GBPNZD faced support as it traded into its bullish entry zone (My entry zones are determined by the breakout point of a previous 1 2 3 price formation). Price is expected to resume another bullish run based on this. Further more, price also broke out from the cluster of inside bars at that zone.

I have maintained that the GBPUSD is bullish with no sign yet of it slowing down yet. Price has once again bounced off support/entry zone, setting up even another 1 2 3 formation and a break of the entry trigger at the tip of the recent pin bar would set the pair up for another leg of the bullish run.



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Markets Price Action and Formations: THE WEEK AHEAD JAN 6 - 10, 2014. AUDUSD CADCHF EURUSD GBPCHF GBPUSD

AUDUSD has given off a double bottom after price fell to its critical Support zone. This zone looks like interesting buyers into action however care must be taken in making bullish entries. Intraday time frames would be key in making these counter trend bullish entries.

CADCHF outlook remains bearish until its key resistance is broken though we may see some corrective bullishness in the coming week or weeks until about the marked key resistance zone above.

EURUSD outlook also remains bullish as price looks to continue to bounce off the lower trend-line as shown above. At the moment though, corrective sell off entries could still be sort as price aims towards its support zone.

The trade room made a huge catch on pips on the GBPCHF just before the close of the year after price bounced off a rising trendline. Outlook remains bullish though new entries on intra-day time frames could still be sort.

GBPUSD remains bullish and the Trade Room continues to look for good setups to long this pair. Price is currently within support zone and the daily or 4hr time frames may offer reasonable entry setups.


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Markets Price Action, The week ahead. AUDJPY AUDUSD CADCHF GBPAUD GBPCHF GBPUSD NZDCAD NZDCHF

AUDJPY chart above shows us a likely continuation of the bullish trend that emered after price hit a double bottom at about 5 and 27th August 2013. Its always safer to go with the major trend. If we get a reasonable setup on this pair in the coming week, we would buy into the pair. The pair currently trades just above a Support.

 AUDUSD has given off a bearish break changing our bias on the pair. We had expected the pair to bull from the Previous support but it has failed to push the pair significantly higher. A corrective bullish pullback is expected still before any new bearish entries can be made.

 CADCHF is clearly a bearish market with new entries made each time it swings. The current move on this pair could yet break the recent lows.

 GBPAUD has failed to resume a new bearish trend as had been expected. But good enough, there was no Trade setup to warrant any bearish entry and with break of the previous high, the bullish trend resumes. but like before, we still shall wait for price to sell corrective into our mapped support zones.

 GBPCHF has closed with a fakey Price action trade Setup after the initial rejection of the higher prices at its key resistance zone. The trade made new bearish entries on this setup and we look to the pair falling into the first mapped support zone. New bullish entries could also be made at those points.

 GBPUSD looks to be trapped within a horizontal consolidation. sell entries will be made as it faces rejection at the resistance zone while buy entries made at the support.

 NZDCAD also looks to be trapped withing a horizontal consolidation. A buy entry could be taken if the dynamics are right.

NZDCHF is very close to the Trade Room's take profit, which also is the support zone for the bullish break. We could take a buy entry if the price action is right.

The week ahead: Nov 18 - 22, 2013. AUDUSD, EURJPY, EURCAD, GBPAUD, GBPUSD, NZDJPY, NZDUSD.

AUDUSD as seen above is consolidating at about the support Zone we had mentioned at our last review. The expectation is for bulls to get in on this pair and push it higher from this zone. The trade room made an entry just before the close of the previous week and we expect the bulls to take control from here.

EURJPY as seen above has hit our projected TP Zone. The trade room made over 300pips from our entry. We now wait to see the reaction of the pair at this resistance zone.

EURCAD had triggered our buy entry as price fell within the support zone where bulls were expected to get back into the bullish ride, however, it did manage to pierce that zone-an indication that the bears were viciously selling off. The trade room did make a bullish entry but profits have been protected early since the pair also gave off a sell signal at the last recent resistance Zone. From this point, we are safe to hold onto the trade and hope price manages to push through this resistance. If it fails to and resumes bearish instead, The long tailed support should hold it for another round of bullish entries. Therefore we may be in for some Din Dong on this pair yet.

GBPAUD just above has been pushing long since the last time its review was made. We had pointed out that the trend had changed to bear but that a corrective buy-off was to be expected. Two zones were mapped out as possible reversal Zones and it has thus far broken through the first zone. If it sustains this break, It will most likely begin its sell off from the next resistance zone as indicated in the chart above. A price action sell signal at that zone should send prices down to the expected TP zone as indicated on the chart above.

GBPUSD has been consolidating within the Key resistance and Support Zone as indicated in its chart above. Its now moving bullishly towards its Key Resistance Zone. Pending Price Action, New bearish entries would be made at that zone. It may interest traders to know that the pair now carries a bearish bias following a failed break of the Support Zone.

 NZDJPY: The last review we ran on the pair showed that we held a bullish bias on the pair and also made a bullish entry on it based on the over-all bias. The pair had given off a bullish Trade Signal as it delved into its Key Support Zone, setting off a Pin Bar Trade Setup. This was more like a bread and butter setup and was subsequently taken gleefully. As the pair now trades within its Resistance Zone, We wait to see what Price action Signal it gives off at this zone.

The NZDUSD chart tells an interesting story. The pair had made a failed attempt to continue its bullish trend from the area now marked as Key resistance. This changes the bias on this pair to bearish, and though the new move is bullish, it merely is a corrective bullish move. We are bullish on this pair but our TP is at the Key resistance zone and we would quickly make new bearish entries if we get a clear sell signal.


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GBPUSD PRICE ACTION: outside Bar Trade Setup, August 14, 2013

GBPUSD seems to be resuming it's bullish drive after lower prices were rejected as GBPUSD hit its 8ema. More bulls are expected in the coming day and entries would be sort on the intra-day time frames.

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GBPUSD Price Action: Against Market Open August 11, 2013. Inside Bar Price Action Trade Setup

 

 GBPUSD looks set to rotate lower after the very bullish breakout candle on Wednesday. We should see or thereabout, a 50% retracement of that candle which could take the pair into the 1.5400 Psychological Support/8ema, and horizontal support level, where we expect the bulls to jump back in on the pair. A Price Action Buy Setup would confirm the expected bullish run at about that zone.

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GBPUSD PRICE ACTION: Hidden Fakey Trade Setup. August 07, 2013

 

 GBPUSD has broken above its resistance at about 1.5430 after it faced intense bullish pressure as it approached Support. The break of this resistance clearly sets the pair on renewed bullishness. This setup is quite difficult if you already aren't in on the bulls, therefore. We would wait to see how price reacts to the resistance at about 1.5600.

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GBPUSD PRICE ACTION: The Week Ahead. August 4-9, 2013

 

In my earlier days of Price Action Trading, I would have considered the weekly candle a Pin bar and would have gone into the new week with a bullish bias but that was then. Many times I had been wounded gravely by such biases but in-spite of such short comings, I still managed to remain profitable with just 50% of my Trades being profitable. That is the awesome power and advantage of trading the markets with just Price Action and no indicators. 

The last candle of the previous week, though looking like a Pin Bar, has a lower low and a lower high compared to the previous week which was actually a bullish candle. Price also did manage to pierce through the Supply Zone, which ought to have acted as the new support. The ema's also still have the 8 below the 21; another indication that the bears are still very much around. 

Attention within the new week will be focused on the Daily and intra-day time frames for possible price Action Sell Setups

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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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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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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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GBPUSD Price Action: GBPUSD breaks support as price closes below Inside Bar Trade Setup, July 03, 2013.

 

The Cable broke south of its inside bar formed at the closed of trading yesterday, inline with the dominant bearish trend. This scenario should usher in another round of selloff but only if the momentum is sustained. It is important to note that despite the bearish break, the pair is within its demand zone, an area that would interest many buyers. I would another day's wait to ascertain if the break is valid.

GBPUSD Price Action: GBPUSD breaks support as Pin bar Trade Setup fails. June 23, 2013.

 

 A Pin Bar Trade Setup on the GBPUSD last week Thursday (June 20, 2013) has failed since price broke the low of the Pin Bar by the end of trading on Friday June 21, 2013. This leaves room for more bearishness and price could target 1.5200 if this momentum is sustained. Our entry will be based on intra-day price Action Setups.

GBPUSD Price Action: GBPUSD frets around Support Zone, June 19, 2013.

 

On June 11, 2013, I drew our attention to the break of an inside bar trade setup on the Cable and price had been on a buoyant mood until yesterday when it lost ground, dropping again into the zone from where the previous inside bar formed. Expectations are for a bounce to occur at about this Support Zone, however, a break would change the entire complexion of the pair.

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