EURUSD Price Action: Breaks out Range Bound Market. May 30, 2013

 

 The trade room had gone short yesterday in anticipation of contunation of the about 100pips range bounded market but price broke north hitting our stop. This leaves a completely new bias on the pair. Long entries would be sort as price rotates into New Support.

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NZDUSD Price Action: Pin Bar Trade Setup. May 30, 2013.

 

The pair managed to complete a 1:2 Risk Reward from yesterday's Pin Bar Trade Setup but was quickly rejected as it touched Support forming a Pin Bar at the close of Trading.This setup leaves us with a bullish bias and entries would be sort at the 50% retracement region of the Pin bar.

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NZDUSD Price Action: Pin Bar Trade Setup. May 29, 2013.

 

The Kiwi has given off a Pin Bar Price Action Trade Setup which is expected to send prices lower and if price rotates into the 50% retracement entry zone, the setup would then offer a decent 1:2 risk reward ratio. The trade room has already made an entry on this setup as price failed in its bid to break above the previous Pin Bar high. It is important to note that the pair is currently shaping to shake-off the recent very bearish pressure on it.

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EURUSD Price Action: Range Bound Market. May 29, 2013

 

 My last Trade commentary on the euro was a complete give away and anyone who went with it completely, would have had a basket full of pips at this time. After the Pin Bar Price Action Setup, price moved lower and hit Key support but was unable to break through it. Subsequently, price moved back into resistance and it also seems reluctant to break away yet again. Price is therefore in a range of about 100pips and savvy price Action traders would have come out with about 200pips from the sell off and subsequent demand. I was in on so many trades and barely traded the euro in all of the rush but Ive managed to make a new entry at about Key resistance and my target still would be the key support.

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GBPUSD Price Action: Price Hits Key Support after Closing Price Reversal Trade Setup. May 28, 2013.

 

 The sell off on the GBPUSD following the Closing Price Reversal Trade setup closed just at about Key Support. There already seem to be a bullish Price Action Setup on the 1hour Time frame, so all short trades should be closed. New Short entries could be considered on the break of this Key Support. In the mean time, price could be pushed higher into Resistance Zone for a possible price Action Setup for the continuation of the more dominant bearish trend.

My Recommendation: New/Intermediately experienced Forex Traders Should stick to trading with the major trend only.

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USDCHF Price Action: Inside Bar Price Action Setup pushes price higher. May 28, 2013.

 

 USDCHF pulled higher from its inside Bar Price Action Setup, with the pair still having room to trade higher. Price Action long entries should be sort on the lower time frames to join the bulls if you aren't long on it already.

My Recommendation: Long pair on retracement into Support as shown above if price fails in an attempt to break lower support.

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AUDUSD Price Action: Pin Bar (Closing Price Reversal) Trade Setup. May 27, 2013.

 

 AUDUSD closed just above Support at the close of trading today and since we already had a Previous Pin Bar (Closing Price Reversal)  Price Action Setup, price is expected to rotate higher into resistance Zone at about 0.9755. 

My Recommendation: buy pair, with stops below current Pin Bar

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