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.