EURUSD Price Action: Pulls Lower following a Fakey Trade Setup. May 9, 2013

 

The euro got sold off after a fakey setup. The Fakey was as a result of price failure to close above the previous inside bars, leading to a false break and with the coupling effect of the resistance above which it could also just manage to touch, the bears took hold and sent it back down into support zone. I had mentioned that the pair looked to be constrained within a range in my previous commentary on it.

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

USDJPY Price Action: Pin Bar Setup leads to break out. May 9, 2013

 

The yen broke above its 3 weeks old resistance after the Pin Bar Price Action Setup from the previous day's trading. The Trade Room managed to bank some profit based on this setup and we will look to rejoin the renewed bullishness pending price action if we get minor rotation back into new support.

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

AUDUSD Price Action: Inside Bar Price Action Setup. May 8, 2013.

 The Aussie closed the day with an inside bar price Action Trade Setup just above Support. The trend is strongly bearish however, we could have rotations back into resistance where we could possibly find bearish Price Action Setups to join the more dominant bearish trend.

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

NZDUSD Price Action: Hit Key Support Zone. May 8, 2013

 

The very bearish trend of the kiwi was faced with a very dominant support in today's trading but could only muster a false break of it. Since this is a key Support, I would be looking out for good bullish reasons to go long from this zone but in the event that today's low is compromised instead, price should then make a dash at the next support zone at about 0.8300.

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

EURUSD Price Action: Inside Pin Bar Price Action. May 7, 2013

 

 The EURO now looks set to be constrained within a range between 1.3200 and 1.2950. The Inside Pin Bar Trade Setup could trigger further bearishness on the pair, into the Range Support as depicted above.

The Trade room will be bearish based on this setup.

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

GBPCHF Price Action: Pin Bar Price Action Setup. May 5, 2013

 

 GBPCHF closed the day with a failed attempt to break above its 2 months high; achieved just 8days ago. Price faced massive sell-off immediately after, leading to the formation of a bearish counter trend Pin Bar. This setup interests the trade room as we will be looking to sell at about the 50% retracement region to limit the potential risk in this trade. The near term support (shown above) should interest buyers in the event that price is pushed lower into that zone.

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

EURAUD Price Action: Inside Pin Bar Price Action Setup complementing Closin Price Reversal Setup. May 6, 2013

 

Price has closed today's trading with an inside bar price Action Setup, complementing the initial Closing Price Reversal (Dark Cloud) which was spotted on the daily chart of Thursday. Expectations are for the pair to approach lower prices as we intend to rejoin the very bullish trend if price manages to rotate into Near Support

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