In reference to the trade commentary of the pair earlier today, the bears have sent prices lower as it now approaches its demand zone.
Tuesday, August 20, 2013
Monday, August 19, 2013
NZDUSD PRICE ACTION: Stranded Pin Bar Trade Setup, August 19. 2013.
Just like we had with the GBPCHF on the 15th of August, we also now have a stranded Pin bar Trade Setup on the Kiwi. For three days in succession, Price has failed to close above the 0.8100 Psychological level with todays candle forming a Pin bar, an obvious bearish Trade Setup. However, the setup still needs further verification and another failed close above the 0.8100 could be the trigger.
Subscribe to my Trade Room or my Mentor Programme or my Price Action Course to experience the simplicity of trading Price Action with me.
GBPCHF PRICE ACTION: Pin Bar Trade Setup, Validated. August 19, 2013
I had drawn our attention to the Counter Trend Pin bar trade Setup on this pair, in my Trade Commentary of the 15th. I had adviced against going short, recommending for a few more days wait to authenticate the Setup. The authentication now seem complete, as we have had 4 candles failing to close above the 1.4500 psychological level, coupled with a breakout in the lower time frames. The trade room is now short on this pair and expectations are for price to reach the demand zone.
Subscribe to my Trade Room or my Mentor Programme or my Price Action Course to experience the simplicity of trading Price Action with me.
Sunday, August 18, 2013
EURUSD PRICE ACTION: Against Market Open, Failure Swing Low/Fakey Trade Setup. August 18, 2013
Though trading on friday ended with what looked like a Pin bar, the momentum on the pair at the moment is still very bullish therefore, we will keep to the tradition of staying with the dominant trend, which is yet bullish on the EURUSD. Its important to note also that we still have the Fakey/Failure Swing Low (a bullish trade setup) yet to fully play out. We will therefore remain on the bulls until we get a clearer bearish setup on the pair.
Subscribe to my Trade Room or my Mentor Programme or my Price Action Course to experience the simplicity of trading Price Action with me.
USDJPY PRICE ACTION: Against Market Open, Closing Price Reversal Price Action Setup, Auust 18, 2013
The Closing Price Reversal on the pair looks good enough to initiate a sell-off on the pair with immediate supports at about the 96.00 level. This setup remains valid until we either hit the expected target or get a break of Friday's high.
Subscribe to my Trade Room or my Mentor Programme or my Price Action Course to experience the simplicity of trading Price Action with me.
AUDJPY PRICE ACTION: Against Market Open. Closing Price Reversal Trade Setup. August 18, 2013
AUDJPY has a Closing price Reversal Trade Setup which could yet pull off early in the coming week. This setup is a bearish alert and remains valid unless we get a break of the supply zone at about 90.00. Price is expected to reach 87.00 if this setup pulls off.
Subscribe to my Trade Room or my Mentor Programme or my Price Action Course to experience the simplicity of trading Price Action with me.
NZDJPY PRICE ACTION: Pin Bar at Resistance, Against Market Open August 18, 2013.
NZDJPY reached its Supply Zone and has shown reluctance breaking bullishly through it. A Pin Bar formed at the close of trading on Thursday, gives reason to think bearish and if this setup pulls through, we could see price falling into the 77.00 level.
Subscribe to my Trade Room or my Mentor Programme or my Price Action Course to experience the simplicity of trading Price Action with me.
Subscribe to:
Posts (Atom)