Crude Price Action: Pin Bar Price Action Trade Setup. May 23, 2013.

 

Crude faced significant bullish pressure as it hit support at the close of the US session today. A Pin Bar ensures which signals for further bullishness. Long entries are advised at about the 50% retracement region of this Pin Bar and price is expected to target the recent highs as long as the Pin bar low is not breached.

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EURJPY Price Action: Pin Bar Price Action Trade Setup. May 23, 2013.

 

The yuppy sold into into support and was subsequently faced with quick profits taking. This resulted in the formation of a Pin Bar Price Action setup. The major trend on this pair is bullish and the Pin bar has occurred right at the confluence zone. This looks like a decent bullish signal which could send prices higher in the next few trading sessions.

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NZDUSD Price Action: Closing Price Reversal Setup, Hits TP (Support). May 22, 2013.

 

 This was a give away from my commentary yesterday. The Trade room came out with a healthy 1:2 risk/reward of about 100pips. The Closing Price Reversal Setup has hit Support, it remains to be seen if the support would give way. 

My Recommendation: Stay out and observe its price action at support.

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GBPUSD Price Action: Inside Bar Price Action Setup, Hits support. May 22, 2013

 

One of the benefits of making trading decisions off the daily time frames is that all the minor and some times very volatile fluctuations inherent in the intra-day time frames would be none of your concern, evident in today's trading. Despite all the hush and flush, prices still respected the major trend. GBPUSD has hit support following its Inside Bar Price Action Trade Setup. I had recommendeed that Traders stayed short based on this setup and the result from just yesterdays entry would have been about 100pips.

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GBPUSD Price Action: Inside Bar Price Action Setup, pulls lower. May 21, 2013

 

 An Inside Bar Price Action Setup at the close of trading yesterday has sent the GBPUSD lower in today's trading. It is noticed that price made a few failed attempts to break above resistance thus the selloff. Price is expected to continue short into the next support zone at about 1.5040.

My Recommendation: Stay Short.

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NZDUSD Price Action: Closing Price Reversal Setup. May 21, 2013.

 

The Kiwi has been on a massive bearish run which is yet to show any significant sign of ending. With today's activities ending with a Closing Price Reversal Price Action Setup, price is expected to make a dash towards Support as shown above. But if this fails, price would make an attempt to reach key resistance at about 0.8359.

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USDJPY Price Action: bullish break loses momentum. May 20, 2013

 

My Trade Commentary on the USDJPY on the 9th of May, dwelt much on the pairs breakout and subsequent expectation of a pullback into support to make long entries pending price Action. Today's close seems to be be inline with that expectation. Price Action Long entries would be sort on rotations back into support at about 99.90.

My Recommendation: Stay neutral and wait out this expectation.

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