USDJPY Price Action: Counter Trend Pin Bar. June 13, 2013

 

 The pair has continued to fall freely from its recent highs, breaking and closing below support at about 96.06. Though price retraced forming a pin bar at the close of trading today, the bearish bias on the pair remains. Short entries on the intraday time frame could be sort at about the new resistance.

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NZDUSD Price Action: Inside Bar Trade Setup. June 12, 2013

 

The bears on NZDUSD has been showing signs of slowing down  in recent times, but its always adviseable to go with the dominant trend, in this case, bearish. The day closed with no significant moves as the entire trading was sequisted by the previous day's, leading to the formation of an Inside Bar trade setup. Price also now trades  around key resistance and there is great possibilty that price would be rejected at about 0.8070 region, which should lead to the formation of a fakey setup. The trade room already has its pending sell order in place. However, this scenario would be completely changed if price were able to close above this key resistance zone.

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GBPUSD Price Action: Break of Inside Bar trade setup. June 11, 2013.

 

There has been a breakout on the GBPUSD as the dollar continues to be faced with immense selling pressure against the Pound and Euro. The break of the inside Bar Trade Setup from the previous day is further indication that price could aim to reach the next resistance as indicated above.

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USDCHF Price Action: Fakey with Pin Price Action Trade Setup.June 11, 2013.

 

Its been a few days since I last posted any updates. No thanks to the very poor network situation I have been faced with for about a week now. It does seem everything is back to normal, but I must apologise to my numerous followers who kept checking in vain for new updates.

The USDCHF has dropped significantly from the Pin bar Trade Setup discussed on June 2, 2013. It falls even further from the fakey with Pin trade Setup from the close of trade yesterday. Price at this point is at profit taking zone however, we still could get a break of the support just below.

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USDCAD Price Action: Fakey With Pin Trade Setup, pulls off. June 6, 2013.

 

 The Fakey with Pin Bar Trade Setup discussed yesterday on the USDCAD has pulled off, taking out the projected TP of the Trade Room. The selloff also managed to close beyond the Support which leaves room for further bearishness. Price may now target the next support as shown above.

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USDCAD Price Action: Fakey With Pin Trade Setup, June 5, 2013.

 

 USDCAD made a futile attempt at closing above the previous days inside bar price Action Setup. A Fakey with Pin Price Action Setup ensures which could send prices lower into support as shown above. Price  Action buy setups would be anticipated at that point however, a break would send prices lower.

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NZDUSD Price Action: Outside Bar Trade Setup pulls lower and setup up an Inside Bar. June 4, 2013

 

 I decided to do a follow up on the trade commentary from yesterday, to show how the Trade room got filled in on the Outside Bar Trade Setup. The entry was eventually made at about the Key Support Zone with stops below recent lows, target will be towards the zone marked as the key resistance zone.

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