Learn from Nick B's Forex trading blog, so you can use Price Action to make pips on any currency pair consistently too.
When learning Forex, people don’t tend to learn the nitty-gritty details of trading.
Things like what happened with last weeks EUR/CAD long.
What happens when you enter a trade, and it doesn’t go in your direction? Instead, price starts ranging, getting excruciatingly close to your target, and then falling away…
…If you have been trading for a while, you know the kind of trade I am talking about. If not,
Reversal trading is pretty simple when you see a picture perfect set up. Check out the trade to the left. The trade is a EUR/AUD 12 hour chart I took on June 25th, 2014. That set up is pretty much flawless.
BUT!
Most reversal trades do not look perfect. In fact, price action rarely ever looks perfect. Usually it is tougher to spot, and enter reversal trades.
So, are you struggling with learning how to trade price action?
What is the most effective form of support and resistance in Forex?
Pivot points? No, pivot points are useless in Forex.
Fibonacci? Fibonacci is ok, but it has a very limited scope.
Trend lines? Trend lines work, but their effectiveness varies in different market conditions.
In Forex, horizontal support and resistance (support and resistance areas) is by far the most effective form of support and resistance.
Generally speaking,
The other day I held a webinar about trading Forex on large time frames. Below you will find the webinar along with a lot of other information on large time frame trading.
High-maintenance trading SUCKS. It is always stressful, and it makes people – AND ME – feel uncomfortable, nervous, and rushed.
How can you learn to trade, or even trade comfortably, when trading is stressful and your charts require almost constant supervision?
Want to know what reversals to trade this week?
Check out the Price Action analysis below. In the analysis I share my support and resistance areas. I show you where I plan to enter reversal trade for EUR/USD and GBP/USD.
My free Price Action strategy and check out this link too.
Check out my support and resistance areas here.
Last week I held The 3 Day Price Action Challenge. A series of three webinars in which I shared some of my Price Action secrets, so you can start taking Price Action trades too. In the webinars I covered candlestick analysis, support and resistance, and how to trade reversals. Below you will find a recording of each of these webinars. Watch them all and feel free to ask any questions you have in the comment form below.
On Wednesday I held the last webinar in the 3 Day Price Action Challenge. In the webinar I explained how to use Candlestick Analysis and Support and Resistance together to trade reversals. In case you missed the first two webinars you can watch the first one here and the second one here.
In this webinar we ran out of time, so I was not able to explain how you can use Price Action to close bad trades out early.
Last night I held the second webinar in the 3 Day Price Action Challenge.
Unfortunately, during the webinar I was not able to cover everything I wanted to cover. I got a little distracted and sidetracked as I had to stop to answer questions. I feel like I didn’t do the best job at explaining how to place support and resistance on AUD/USD….
…So I added an extra video at the end of the webinar in which I place support and resistance on USD/CAD.
Last night I held the first webinar in the 3 Day Price Action Challenge. In this webinar I shared my Price Action techniques for reading and understanding candlesticks. You can watch the webinar below.
In the next webinar I will cover Support and Resistance areas.
Want to know what reversals to trade this week?
Check out the Price Action analysis below. In the analysis I share my support and resistance areas. I show you where I plan to enter reversal trade for EUR/USD, GBP/USD and EUR/JPY.
My free Price Action strategy.
