Forex Trade Setups Commentary: Silver price action, 30th October 2010

Gold Silver performed Outside this week as both the rose of precious metals, on the back of continued signs of weakness of the dollar.

We can see in the workplace-daily chart below which the silver metal formed a small bar pin indicated the bullish refusal to support dynamic of exponential moving average on day 21 on October 22nd. Price more consolidated for several days, forming a second bullish bar pin "confirmation" and within a bar in the process.

Friday price higher and broken exploded Thursday in Setup.log bar we can see in the chart that resistance enters the head closer around $ 24.90 per ounce, it will be interesting to see what price action transpires around this level next week.

For deeper analysis of the major currency pairs and analysis of forex price action, check out my forex trading course.

Comment:

The dollar eased on Friday after economic data showed that the u.s. economy grew in the third quarter, but not strongly just change the expectation of monetary easing from the Fed next week.

The index of the dollar edged lower, while the Japanese Yen however near its peak records in 1995 of 79 74 yen for one dollar.

The combination of American mid-term elections next week and the announcement of the Fed will probably have a profound effect on the currency markets and could set in place an inflection point up or down.

The Dow rose 4.54 points, or $ 0.04%, S & P 500 lost only 0.52 a point, or 0.04 percent and the Nasdaq acquired only point 0.04 or 0.00%.

Action settings my Pin bars, price: fakey s, internal bar

My 3 main settings action price: Pin Bar, fakey, internal bar

Setting the PIN bar:

The bar of pins is a staple of the way that the exchanges of the Forex market. Has a high accuracy rate of trends of the markets and above all when they occur at confluent. Pin bars that occur at the level of resistance and important support are generally very precise configurations.Pin bars can be taken counter trend as well, as long as they are very well defined and protrude from the bars surrounding price significantly;indicating a strong rejection occurred. example chart, let's look at pin bars that occur with the context of a market trend, my favorite way of Commerce. Note how each bar pin resulted in movement that met or exceeded the next logical point of resistance, marked on the chart as "destination"

Pin bars that occur within the context of a market trend on the daily chart EUR/JPY:

 Installing fakey:

Installing fakey is another installation of action of the price of bread and butter. It means rejecting an important level within the market. the Forex market is designed for traders fake, as often times the market appears to be driven one direction and then reverse, sucking in all the amateurs as professionals are pushing the price back in the opposite direction. Installing fakey can disable some pretty big moves in the Forex market.The chart will examine below show a fakey that occurred in the EUR/USD market that out a huge down the movement of the Department.

Installing fakey nice that occurred in a major turning point on EUR/USD daily:

Installing internal bar:

Inside bar is a great tendency – signal continuously.Show a consolidation in the short and then a break out towards the dominant tendency. bar best are played on daily and weekly charts. they allow for very small risks and still very big rewards. inside bar combined with a strongly market trend is one of my favorite price action configurations. we can see in the chart below an interior bar that formed on USD/JPY daily after a strong pin bar signal has changed direction of trend. internal bar This occurred at a level of 50% retrace, as well as a level of support, whenever we get the price action confluent as this is seen as a very strong setup.

Bar within Setup on daily USD/JPY:

Further explanations of price action configurations and forex trading instructions found in my forex trading course that comes with lifetime access to our Member's forum that includes the configurations of ongoing trade and daily analysis of major currency pairs, as well as configurations of any relevant price. Once you some solid price action master configurations will be well on your way to trading with the Forex market success.

Copywrite – learn to zone the fuller market author Nial

Forex commentary: EURJPY and Daily Price Action 9-14-2010

Posted on 15 September 2010

Forex trade Setups comment: EURJPY and Daily Price * GBPJPY * – update

GBPJPY: update

The GBPJPY formed a break false more inside bar and support near 128.00 yesterday.This configuration fakey tipped off fundamental news dealers outside Japan imminent as regards their intervention in the FX market today to weaken the surging yen in order to strengthen their economy sagging.

EURJPY:

The EURJPY inside bar installation of rejection that has formed last Thursday off support near 106.00, drove more aggressive and penetrated the resistance around 109.50. the yen fell 2%, as the Japan Wednesday intervened in the FX markets for the first time in six years.

We can also see in the chart below that a candle bar pin bullish formed on Tuesday, this could be another tip off that prices had the potential to challenge the top of the range commercial near 109.50.

AUDUSD:

The daily has penetrated the resistance weekly near 0.9400 in the last two days and was able to maintain prices above this layer as shown in the following graph. momentum is however still bullish, but would wait to see a solid price Setup develop action before entering a new long position.

A move down to support near 0.9220 would be considered possible scenario of purchase if we saw some form of action bullish price close to this level.

For deeper analysis of the major currency pairs and analysis of forex price action, check out my forex trading course.

Comment:

Japan intervened in the forex markets for the first time in 6 years on Wednesday to stem the economic damage due to yen surging, this worked to push the yen significantly lower across the Board and lifting on Tokyo stocks by over 2%.

Gold drove to fresh high as of Tuesday, and this helped a weakening dollar, which led to a bullish trend in Daily, EURUSD and GBPUSD.

The Dow lost points 17.64 or 0.17%, the S & P 500 fell 0,80 points or 0,07% and the Nasdaq acquired 4.06 points or 0.18%.