How to use this price action analysis
If you are new to price action trading, have a look at my Forex trading strategy.
You can also browse through the countless hours of price action webinar recordings here.
Key Support & Resistance Areas This Week
EUR/USD: I am going to start trading the Euro again this week. I will be trading with extreme caution though. My key resistance areas for EUR/USD are still 1.1005, and 1.1150. My key support areas are 1.0830, and 1.0690.
GBP/USD: My key resistance areas for GBP/USD this week are 1.5560, and 1.5660. My key support areas are 1.5460, and 1.5350.
USD/JPY: Key resistance is 124.80, and 125.60. My key support areas are 124.10 and 123.35 for USD/JPY.
USD/CAD: USD/CAD is at six year highs which means I have no areas for it at the moment.
AUD/USD: AUD/USD is at six year lows which means I have no areas for it at the moment.
It generally takes two or three weeks for new support and resistance to form when price pushes into a new area.
Price Action Scalping Strategy
This week I will be releasing version 1 of my new price action scalping strategy. With the help of one of my students, I am now using price action for small time frame scalping.
I will be sharing my strategy this week. I will also be adding a brand new feature to the site that you guys will love. This week should be a very exciting week for forex4noobs!
Questions
If you have any questions please ask below, I try to answer every question.