Nial Fuller's Price Action Trading Education Community - Learn, Trade, Profit

Forex Trade Setups Commentary: Spot Gold Fakey with Pin bar setup, 12th September 2012

Posted on September 13th, 2012 | by | in Forex Trading Commentary | No Comments

Trading Setups / Chart in Focus:

XAUUSD

The Spot Gold market finally found some resistance today after pushing up to a high of about $1747.00 and then reversing sharply to end the day with a loss over yesterday at $1730.00. We can see a fakey strategy with pin bar formed today as everyone tried to buy the break higher thinking the uptrend would continue higher in the linear fashion it’s been moving in, only to have the bigger market players push the market lower. If today’s counter-trend setup comes off, we could see a retrace lower, perhaps into the key support around $1700.00, at which point we would look for price action buy signals to rejoin the uptrend.

1347488751-clip-16kb

Check out my latest trading lesson: How To Trade Trends In Forex – A Complete Guide

————————————————————————————————————————————————————————–
September Special Promotion- This month I’m offering a Special Discount on Lifetime membership to my Forex Course, Live Trade Setups Forum, Daily Trade Setups Newsletter, Email support line, and more. For more info visit the Forex Course Page Here.
————————————————————————————————————————————————————————–

Forex Commentary:

In the currency markets today, the euro gained more ground on the U.S. dollar on the back of a German court ruling that supported the passing of Europe’s permanent bailout fund. The EURUSD moved up to $1.2898 from $1.2854 yesterday.

The Australian dollar gained ground on the greenback as well, moving to a three-week high on the back of speculation about more stimulus from the U.S. Fed bank as well as positive news about China’s economy.

The U.S. dollar gained modestly on the Japanese yen and Canadian dollar but was lower against the other majors today.

Other Markets:

In the U.S. markets today, stocks gained modest ground on the back of positive news from Germany about the euro-zone rescue fund as well as speculation that the Federal Reserve will pass another round of economic stimulus soon.

The Dow gained 9.99 points, or 0.08%, the S&P 500 added 3 points or 0.2%, and the Nasdaq gained 9.78 points, or 0.3%.

Upcoming important economic announcements (New York time): 09/13/2012

3:30am EST: Switzerland – Libor Rate
3:30am EST: Switzerland – SNB Monetary Policy Assessment
8:30am EST: United States – PPI m/m
8:30am EST: Unemployment Claims
12:30pm EST: United States – FOMC Statement
2:00pm EST: United States – FOMC Economic Projections
2:15pm EST: United States – FOMC Press Conference


Leave a Comment

Recent Posts in Trade Setups Commentary

Weekly Forex Trade Setups Preview – January 26th – 30th 2015

Posted on January 26th, 2015 | by | in Forex Trading Commentary | No Comments
Weekly Forex Trade Setups Preview – January 26th – 30th 2015
Note: We Use ‘New York Close Charts’ – Get Our Preferred Charts & Trading Platform Here GBPJPY - Sterling/dollar selling off The GBPJPY has weakened considerably in recent weeks and we could see more downside movement in the coming days if bears remain in control. I am personally... Continue Reading

USDJPY Strength Continues, Looking to Buy Pullbacks, 22nd January 2015

Posted on January 23rd, 2015 | by | in Forex Trading Commentary | No Comments
USDJPY Strength Continues, Looking to Buy Pullbacks, 22nd January 2015
Note: We Use ‘New York Close Charts’ – Get Our Preferred Charts & Trading Platform Here. Trading Setups / Chart in Focus: USDJPY – Dollar / yen stays buoyant after pushing up from key support The USDJPY has remained strong this week and price has pushed up and away from the key... Continue Reading

Bracing for EURUSD Volatility Ahead of ECB, Gold Update, 21st January 2015

Posted on January 22nd, 2015 | by | in Forex Trading Commentary | No Comments
Bracing for EURUSD Volatility Ahead of ECB, Gold Update, 21st January 2015
Note: We Use ‘New York Close Charts’ – Get Our Preferred Charts & Trading Platform Here. Trading Setups / Chart in Focus: EURUSD – Euro/dollar consolidating ahead of ECB meeting The EURUSD gained back modest ground today and price consolidated ahead of tomorrow’s European... Continue Reading

USDJPY Strength From Key Support Continues, 20th January 2015

Posted on January 21st, 2015 | by | in Forex Trading Commentary | No Comments
USDJPY Strength From Key Support Continues, 20th January 2015
Note: We Use ‘New York Close Charts’ – Get Our Preferred Charts & Trading Platform Here. Trading Setups / Chart in Focus: USDJPY – Dollar/yen strength continues from key support The USDJPY has continued to remain strong after bouncing up from key support down near 115.85 last... Continue Reading

Weekly Forex Trade Setups Preview – January 19th – 23rd 2015

Posted on January 19th, 2015 | by | in Forex Trading Commentary | No Comments
Weekly Forex Trade Setups Preview – January 19th – 23rd 2015
Note: We Use ‘New York Close Charts’ – Get Our Preferred Charts & Trading Platform Here. EURUSD - Euro/dollar downtrend accelerates The EURUSD sold-off last Thursday and Friday, losing significant ground into the week's end as bears remain in control of this market. Whilst this... Continue Reading

Leave a Comment

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Sign up for Free Videos & Trade Setups
   Close

Disclaimer: Any Advice or information on this website is General Advice Only - It does not take into account your personal circumstances, please do not trade or invest based solely on this information. By Viewing any material or using the information within this site you agree that this is general education material and you will not hold any person or entity responsible for loss or damages resulting from the content or general advice provided here by Learn To Trade The Market Pty Ltd, it's employees, directors or fellow members. Futures, options, and spot currency trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This website is neither a solicitation nor an offer to Buy/Sell futures, spot forex, cfd's, options or other financial products. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in any material on this website. The past performance of any trading system or methodology is not necessarily indicative of future results.

High Risk Warning: Forex, Futures, and Options trading has large potential rewards, but also large potential risks. The high degree of leverage can work against you as well as for you. You must be aware of the risks of investing in forex, futures, and options and be willing to accept them in order to trade in these markets. Forex trading involves substantial risk of loss and is not suitable for all investors. Please do not trade with borrowed money or money you cannot afford to lose. Any opinions, news, research, analysis, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. We will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information. Please remember that the past performance of any trading system or methodology is not necessarily indicative of future results.

Copyright 2008-2014 Learn To Trade The Market
legal