Gold Price Action: Against Market Open, August 11, 2013. Pin Bar Price Action pulls higher, within Supply Zone.

 

Gold is slowly grinding higher after price fell back within its Demand Zone. No extensive bullishness is expected until we get a second bullish break on the pair. But where it fails and gives a sell setup instead, at about its Psychlogival level, Sell entries would be made. In the meantime, this points to the fact that we might be in for a ding-dong on this pair, until we get a clear break north or south (The time maybe, for Channel traders).

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EURAUD Price ACtion: Against Market Open August 11, 2013. Bearish Break Spotted.

 

 The EURAUD had been on an extensive bullish run which came to a halt as price failed to trade above the 1.4750 Psychlogical level, which was followed by a break of that zone on its way down. This created a new bearish bias therefore Price Action sell setups would be sort on retracements back towards the psychological level or on a break of the Demand Zone at about the 1.4300 Psychological level. What ever be the case the bias now is bearish but we will be calm and wait for the suitable price action setups to trade this bearish break.

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USDJPY Price Action: Ahead Market Open, August 11, 2013. Pin Bar Price Action Setup

 

The 96.00 Horizontal/Support Level Supported some profit taking of the sell-off on the USDJPY. Though trading on friday was thin on the pair, this level looks good enough to atleast force some bullishness into the pair early in the week but since there is no break to support the move, we would ignore the setup and wait to see price reaction at about the 98.00 psychological/horizontal/dynamic resistance region. We would go short at that point pending price action.

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GBPCHF Price Action: Ahead Market Open, August 11, 2013. Inside Bar Price Action Setup

The trend on this pair is expected to change from bearish to bullish following the Price Action bearish rejection candle of the GBPCHF on Wednesday (marked break). The next two days had witnessed very little price movements (Inside bars) however, the bias on this pair has changed from being bearish to bullish. The pair could either break through the 1.4300 psychological level or rotate lower in an attempt to gain momentum at about the 1.4200 horizontal/psychological level.

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GBPUSD Price Action: Against Market Open August 11, 2013. Inside Bar Price Action Trade Setup

 

 GBPUSD looks set to rotate lower after the very bullish breakout candle on Wednesday. We should see or thereabout, a 50% retracement of that candle which could take the pair into the 1.5400 Psychological Support/8ema, and horizontal support level, where we expect the bulls to jump back in on the pair. A Price Action Buy Setup would confirm the expected bullish run at about that zone.

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EURUSD Price Action: Against Market Open, August 11, 2013. Inside Bar Price Action Trade Setup,

 

 The Euro finally made it to the 1.3400 psychological level but lost some of its bullish steam as it did. Traders took profits from their bullish entries and we ended up with an Inside Bar Price Action Sell Trade Setup. Though the trend remains bullish, price could let out some of the overbought pressure on the pair. Buy entries should resume at about the 1.3200 level. Therefore, Price action Buy Setups would be sort at about that zone.

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AUDJPY Price Action: Closing Price Reversal Trade Setup, August 8, 2013

 

AUDJPY has found some support after price hit the 87.15 support area. A closing price Reversal setup ensures as a result of the failed break of that zone. This is a counter trend sigal but looks good enouh to trigger a reversal on this pair.

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