Forex price action analysis – April 8th 2015

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I hope you all enjoyed your Easter break. This year, I decided to extend my Easter holiday by a day; so, I’m only getting back to trading today. Honestly, I haven’t really looked at the charts much this week, so I’m not sure if there’s been any trades yet. A few people in the forum entered a GBP/USD trade on Monday, however, things have been pretty quiet since. This is normal though, my strategy doesn’t give us many trades until Wednesday and Thursday. Support and resistance areas To make the most of this analysis, you need to understand price action,…

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Forex price action analysis – April 1st 2015

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We have had a mixed week so far, some good trades, some bad trades, but nothing terribly exciting. However, the week is still young, things don’t often take off until Wednesday and Thursday with my strategy. So, should we be gearing up for an awesome Thursday? Probably not… … This Thursday might be boring as it is NFP (Non-Farm Employment Change) week, price action can be sluggish on NFP week. Support and Resistance Areas To make use of the analysis below, you need to understand how I use support and resistance in my trading. In their most basic form, support…

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Forex price action analysis – March 22nd 2015

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I have had a busy few weeks with the recent webinar on support and resistance. Now that things have quieted down I can get back to doing the weekly analysis. First, let me explain how this analysis works. Support and Resistance Areas I use my own support and resistance areas along with some very specific candle patterns to take awesome reversal trade… … I explain my strategy in detail in the Forex price action strategy section. I will also link to a few webinars below. Unless you understand my strategy, you should not use these support and resistance areas. If…

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Forex Price Action – How to Place Support & Resistance Areas

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Placing support & resistance areas using price action Last week I held a webinar on placing support and resistance areas in Forex. As usual with my webinars, it was not flashy or scripted. I just opened my charts and talked about price action. Overall the webinar went well and I was able to place support and resistance areas on four pairs. I was able to share a lot of good tips. However, many people in this webinar were asking off-topic questions, so we got side tracked. In the end, this is not one of my better webinars. It is still…

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This is why I love trading GBP/AUD so much….

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For the last few weeks I have been featuring GBP/AUD in my Forex price action analysis. Why am I featuring such an obscure pair? … Because it constantly gives me easy and profitable reversal trades. This weeks GBP/AUD price action reversals Over the course of two days we got two very similar reversal setups at the 1.9775 resistance area on GBP/AUD. The setups are highlighted in yellow below. So, how did these trades work out? The first trade was entered short at 1.9765 with a stop loss of 45 pips and a first target of 75 pips. The second target…

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