GBPJPY PRICE ACTION: Pivot Top Trade Setup

Fridays saw a very significant sell-off on the GBPJPY following the pairs inability to break above 156.00 Psychological Resistance, closing eventually below 155.00 psychological level. This scenario changes bias on the pair from bullish to bearish and also, the Pivot Top price Action Trade Setup is a Bearish Trade Setup. Entries would be sort on the 4 hour time frame to join this emerging bearish trend.

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USDJPY PRICE ACTION: Price shoots above Psychological Resistance

On August 31, I drew our attention to the Inside Bar Price Action Setup that had occurred on the daily chart of the USDJPY after price seemed to hit a bottom following the Closing Price reversal trade Setup. In my follow up analysis on September 3, I indicated that the trade room had gone long and was expecting price to reach the 100 Psychological resistance. It has now broken that resistance and the Trade Rooms TP. price could now aim to reach the 101 Psychological resistance zone. The trend remains bullish yet.

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Trade Call: Buying NZDCAD Based on break of psychological resistance Update

The Trade Call from yesterday on the NZDCAD has pulled higher significantly though its yet to hit  our expected TP level, the trade is well over 80pips green at the moment. If our target is reached, the trade will close out on about 180pips. The trade initially drew some concerns from a few of my students in the Mentor group based on the candle close formation after the breakout candle, which seemed like a bullish rejection but the break was still in play and it is normal that a minor retracement follows a valid breakout.

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Crude Oil Price Action: Pin Bar/Inside Bar Bullish Combo

Though I do not trade the news nor give much attention to it, but the possibility of a US military strike on Syria seemed inching one step closer to reality when a key US Senate panel approved a draft resolution allowing a 60-day military action in Syria that would be put to vote on Wednesday. Our chart also appears to be in-tune with that expectation following a Pin bar/Inside Bar Bullish Price Action Combo Setup on the daily time frame. If this Setup pulls off, expectation would for price to atleast hit the 111.00 Psychological resistance zone, as shown in the chart above.


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AUDUSD PRICE ACTION: Pin Bar/Inside Bar Combo Trade Setup Update

My Trade Commentary on the Aussie on 3rd September drew our attention to the Pin bar/Inside Bar Combo bullish setup on the pair. The Trade Room had gone Long based on the 4 hour breakout with our TP at the 0.9100 level which has been broken, leaving room for the pair possibly hitting the 0.9200 level.

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Trade Call: Buying NZDCAD Based on break of psychological resistance

This is an example of how I make entries as shown here in the buy Trade Call (buy Limit NZDCAD at 0.8205 SL 0.8107 TP 0.8393) posted to members of my Trade Room. Our expectation is for price to make an attempt to reach 0.8400 psychological resistance zone. This trade was made based on the bullish break noticed on the 4 hour time frame, also evident in the 123 bottom break on the daily time frame after the formation of a Pin bar on August 28.

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USDJPY PRICE ACTION: Closing Price Reversal / Inside Bar Combo, Pulls higher.

I drew attention to the combo Closing Price Reversal and Inside Bar Trade Setup on the USDJPY in my analysis of the pair, August 31. Price has since moved higher and looks set to hit the 100 Psychological level. A break would send prices further long into the 101 region. The Trade Room is long on this pair and our TP would be met at the touch of the 100 region.

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