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.