NZDUSD Price Action: Closing Price Reversal Price Action Setup. May 15, 2013.

The massive bearish run on the NZDUSD has approached a halt with the formation of a Closing Price Reversal price Action Setup just above the horizontal support zone. This setup could trigger price rotation back towards Key Resistance where Price Action Sell Signals should offer more oppurtunities to rejoin the bears.

My Recommendation: Stay neutral and wait out the expected pullback.

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Gold Price Action: Pin Bar off confluence zone, May 14, 2013

 

 In yesterday's commentar, I gave a bearish recommendation based on the notion that we could have a failed break of the New Resistance.  Savvy traders would have taken advantage to get in on a good price for the expected bearishness on the pair. The Pin Bar Price Action Setup after the inside bar from yesterday's trading should help send prices even lower, probably, back into Support as shown in the chart above.

My Recommendation: Remain Bearish.

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GBPJPY Price Action: Pin Bar Price Action Setup, May 14, 2013

 

 The Geppy did rotate lower as expected, following the Closing price Reversal Trade Setup discussed in yesterday's commentary. However, I did advice we look out for buy setups at about support if price managed to rotate lower. We now have a Pin Bar Price Action Setup at the close of today's trading. The trend is still very bullish and expectations are for price to be pushed higher as a result of this setup.

My Recommendation: A long entry is favoured.

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Gold Price Action: Inside Bar Price Action Setup, May 13, 2013

 

The last time I ran a commentary on Gold (April 24), I talked about the possibility of price resuming it bearish run from about its present zone, when price gave off an inside bar at the close of trading for that day. But the bulls managed to push the Metal further long but it now appears that the bulls have finally given up on this push. Notice the inside bar which also managed to close below support. This is a bearish signal and if price fails to break back throuh that support which should now act as resistance, we would witness another round of selling off of the metal.

My Recommendation: Sell on a failed attempt to break through the just broken support.

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GBPJPY Price Action: Closing Price Reversal Price Action Setup, May 13, 2013

 

The Geppy ends with a Closing Price Reversal Price Action Setup: An indication that the pair is in the running for some bearish rotations, possibly into the supports zone. Price Action Buy Setups should be sort on its approach into the Support or at its key support as shown above, if this setup plays out. 

My recommendation: Wait for price to move into support zone and seek for Bullish Price Action Setups. 

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NZDUSD Price Action: Breaks Key Weekly Support. May 12 - May 17, 2013.

 

 The New Key resistance woulld be the key action area determining where the trend could be headed in the comming weeks. If we get a daily price action setup at about the key weekly resistance, that would be the trigger to going short for the rest of the week or month.

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AUDUSD Price Action: Break of weekly Key Support. May 12 - May 17, 2013.

 

The AUSSIE broke through Key Weekly Support at the close of trading last week. This could leave the doors open for an approach to the weekly Support around 0.9720. Daily Price Action Setup would be anticipated at about the key weekly resistance to  trigger this sell-off.

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