USDCAD Price Action: Inside Bar Trade Setup. Against Market Open, July 14, 2013.

 

USDCAD broke through its key support on Thursday July  11, 2013 and failed to close above it at the end of trading on friday, July 12. If price still fails to close above this Key support zone during early trading in the new week, we then should see further selloff of this pair toward the next Key support at about 1.0167.  Following this scenario, our bias shifts to bearish and attention would be more on the intraday timeframes for good price action sell setups to join the emerging bearish trend.

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Weekly Trade Room result: Week ending July 12, 2013.

InstaForex Companies Group

Account: 60607288		Name: APAFTT FX					Currency: USD		Leverage: 1:500		2013 July 14, 10:53
Closed Transactions:
Ticket	Open Time	Type	Size	Item	Price	S / L	T / P	Close Time	Price	Commission	Taxes	Swap	Profit
173192559	2013.07.08 15:52	buy	2.00	eurjpy	129.85	129.87	132.60	2013.07.09 17:02	129.87	0.00	0.00	0.16	3.95
173384172	2013.07.09 12:47	sell	2.00	eurcad	1.3580	1.3621	1.3488	2013.07.09 17:55	1.3488	0.00	0.00	0.00	174.49
173465023	2013.07.09 19:26	sell	2.00	usdcad	1.0528	1.0611	1.0420	2013.07.11 01:47	1.0420	0.00	0.00	1.14	207.29
173534902	2013.07.10 08:11	sell	2.00	nzdjpy	79.02	78.92	77.02	2013.07.11 04:30	78.92	0.00	0.00	-2.35	20.13
173659263	2013.07.10 21:08	sell	2.00	usdzar	10.0276	10.0874	9.7738	2013.07.11 08:32	9.8965	0.00	0.00	3.27	264.94
173855396	2013.07.11 08:41	sell	2.00	audjpy	91.58	92.23	90.12	2013.07.11 23:30	90.87	0.00	0.00	0.00	143.64
173910030	2013.07.11 12:08	buy limit	2.00	eurnzd	1.6523	1.6361	1.6861	2013.07.11 22:15	1.6734	cancelled
173910181	2013.07.11 12:09	buy limit	2.00	gbpaud	1.6326	1.6215	1.6678	2013.07.11 22:15	1.6568	cancelled
173957121	2013.07.11 16:06	sell	2.00	gbpjpy	149.63	150.46	148.79	2013.07.11 21:59	150.46	0.00	0.00	0.00	-167.56
174053839	2013.07.11 23:58	buy limit	2.00	nzdusd	0.7825	0.7750	0.7957	2013.07.12 00:41	0.7847	cancelled
174124008	2013.07.12 12:02	sell limit	2.00	eurgbp	0.8620	0.8643	0.8488	2013.07.12 12:08	0.8614	cancelled
174244698	2013.07.14 01:52	balance	trade result for 2013-05										351.89
										0.00	0.00	2.22	646.88
Closed P/L:												649.10
Open Trades:
Ticket	Open Time	Type	Size	Item	Price	S / L	T / P		Price	Commission	Taxes	Swap	Profit
174124729	2013.07.12 12:08	sell	2.00	eurgbp	0.8614	0.8670	0.8488		0.8653	0.00	0.00	-0.33	-117.88
174057849	2013.07.12 00:31	buy	2.00	eurjpy	129.70	127.93	132.60		129.62	0.00	0.00	0.16	-16.13
174099649	2013.07.12 09:43	sell	2.00	usdjpy	99.01	100.64	97.44		99.23	0.00	0.00	-0.06	-44.34
										0.00	0.00	-0.23	-178.35
										Floating P/L:		-178.58
Working Orders:
Ticket	Open Time	Type	Size	Item	Price	S / L	T / P	Market Price
No transactions
Summary:
Deposit/Withdrawal:		351.89		Credit Facility:				0.00
Closed Trade P/L:		649.10		Floating P/L:				-178.58	Margin:			144.56
Balance:		7 533.75		Equity:				7 355.17	Free Margin:			7 210.61
Details:
Gross Profit:		816.66		Gross Loss:				167.56	Total Net Profit:			649.10
Profit Factor:		4.87		Expected Payoff:				92.73
Absolute Drawdown:		0.00		Maximal Drawdown:				167.56 (2.33%)	Relative Drawdown:			2.33% (167.56)
Total Trades:		7		Short Positions (won %):				6 (83.33%)	Long Positions (won %):			1 (100.00%)
Profit Trades (% of total):								6 (85.71%)	Loss trades (% of total):			1 (14.29%)
Largest		profit trade:						268.21	loss trade:			-167.56
Average		profit trade:						136.11	loss trade:			-167.56
Maximum		consecutive wins ($):						5 (673.02)	consecutive losses ($):			1 (-167.56)
Maximal		consecutive profit (count):						673.02 (5)	consecutive loss (count):			-167.56 (1)
Average		consecutive wins:						3	consecutive losses:			1

GBPJPY Price Action: Pin bar Trade Setup. July 12, 2013

 

GBPJPY has been trading within its demand zone for just over a month and has shown reasonable reluctance in breaking through it, leaving room for a break towards the upside. This point of view is supported by the presence of a double Pin Bar from the last two days trading sessions. Bullish entries will therefore be sort on the intra-day time frames, if we get a reasonable Price Action bullish setup.

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EURJPY Price Action: Pin bar Trade Setup. July 11, 2013

 

The EURJPY faced very significant buying presure as it it sold into its demand zone in today's trading leading to the giving off off all previous strength the yen exercised over the Euro. This event lead to the formation of a Pin Bar Trade Setup. Its important to note that the demand zone also coincided with the ascending trendline on this pair. A pin Bar at support at support as we have here should lead to more bullishness, however, there is an obvious supply zone just above as shown in the picture above. If the pair manages to break above this supply zone, we would be in for a new round of buying frenzy on the pair which could send the pair as high into 133.50 or there about.

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NZDJPY Price Action: 4 Hour Fakey Intraday Setup. July 10, 2013

 

 The Setup above looks like a decent Trade Setup on the 4hour TimeFrame of the NZDJPY. The Fakey Setup could trigger a selloff on the pair. The Trade room is short based on this setup as shown above.

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GBPUSD Price Action:More bears to come, 09 July, 2013

 

The down trend on the Cable which is in its 3rd week seems perfectly intact still. Further given impetus with the break of the inside bar formed at the close of trading Monday, 8th July. Short entries will be sort on the intraday time frames on rotations  back into supply zones.

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EURUSD Price Action: Inside Bar Price Action Setup, 08 July, 2013

 

The Euro seem to have found support at a previous demand zone. This zone has been very significant in recent times as price had twice this year, failed to break below this level. Therefore, the inside bar price Action Setup formed at this zone at the close of the US session today, could be the trigger for a change in trend however, the major trend on the pair remains bearish, unless price is able to break above the supply zone as indicated above. Meanwhile as the pair rotates higher, Sell Setups would be sort at about that Supply zone, if price fails to trade above it.

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