Nick B's Forex Blog

Learn from Nick B's Forex trading blog, so you can use Price Action to make pips on any currency pair consistently too.

Forex price action analysis – March 22nd 2015

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.

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Forex Price Action – How to Place Support & Resistance Areas

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,

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

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.

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Forex price action analysis – February 25th 2015

First off, I want to say a quick sorry for not answering last week’s questions in the comments’ section and for not posting about the webinar. I ended up being really busy last week so I was not able to post.

The webinar I originally planned for Monday, March 2nd will be on Thursday, March 5th. I will post details about the webinar tomorrow.

So, let’s get started with today’s analysis.

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Forex price action analysis – February 18th 2015

As this week started with a US bank holiday I decided not to trade until Tuesday. When Tuesday came along things were quiet apart from a small EUR/USD setup so I decided to skip trading until today…

…So, let’s kick of this rather short trading week with some analysis.

GBP/AUD Analysis

We already had a reversal trade from GBP/AUD this week. However, the trade was helped along by news, so I did not trade it.

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Forex price action analysis – February 9th 2015

Over the last year GBP/AUD has become one of my favourite pairs to trade. GBP/AUD is very consistent and as it is a fast moving pair the trades are usually worth a lot of pips.

So in this analysis and in much of the analysis in the coming months I will be covering GBP/AUD.

GBP/AUD Analysis

GBP/AUD is currently at highs it hasn’t seen since 2009. Since the pair is at five year highs I have no resistance areas beyond the 1.9600 level.

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Forex price action analysis – January 21st 2015

Usually I resume my Forex trading in early January. This year things have gone a little different. The first week of the year Jan 5 to Jan 9 was very dull. The second week of the year Jan 12 to Jan 16 was too chaotic.

So, what did I do?

I waited until this week to start trading again.

A lot of new traders feel like they need to trade at all times.

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Forex price action analysis – December 17th 2014

In this analysis I will be covering two pairs, GBP/USD and AUD/USD. If you want to see my support and resistance areas for these pairs please check out the support and resistance areas section.

Also, as of last week I have finished trading for the year. Usually, if I meet my minimum yearly target I take the last few weeks of December off.

I will still be watching my charts but I will most likely not take a trade.

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How to Trade Forex Price Action: My Reversal Trading Strategy in Three Webinars

Do you want to see how I trade reversals with a 74% win rate?

Last week I held three webinars over the course of three days. In the webinars I showed you how I use my Forex price action strategy to spot and trade trend reversals. Below you will find a recording of these webinars.

Forex Price Action Trading

My Forex price action strategy is split into three parts.

First is the candlestick analysis.

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Forex price action analysis – December 2nd 2014

In today’s Forex price action analysis we will look at a few pairs, starting with GPB/USD. If you want to see my support and resistance areas for these pairs, please check out the support and resistance areas section.

GBP/USD Analysis

We have already had a trade on GBP/USD this week. The first candle of the week gaped up by around 10 pips on the four hour chart. After the gap, price fell back down to our 1.5620 support area and formed indecision…

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