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.