Mid-day Forex price action Analysis – 2016-10-25 (Setup on EUR/USD)

In today’s analysis I spot two potential setups, a EUR/USD long, and a USD/CHF short. The USD/CHF potential short has already been cancelled as buyers were able to create a new high. The new high indicates buyers are in control of price, which effectively cancels any potential short setup.

EUR/USD is still looking good as it’s sitting on a eight month low and sellers are struggling to continue down. If buyers take control of price, I might enter long for a bullish reversal on this pair. Continue Reading  »

How to Demo Trade the Smart Way in Forex (So you can become consistently profitable)

In this video I will show you how to demo trade the smart way. Too many new traders demo the wrong way, wasting months of time without ever improving.

The goal of demo is to simulate live trading as close to reality as possible. Which means you need to simulate the three CORE skills of trading:

  • Mastering a trading strategy so you take the right trades at the right time.
  • Mastering money and risk management so you never blow your account.

Continue Reading  »

Midday Forex price action Analysis – 2016-09-28 (Setups on AUD/USD and GBP/JPY)

In today’s analysis, I spot two potential setups on GBP/JPY and EUR/CAD. I also spot what looks like an imminent setup on AUD/NZD.

After running thorough risk analysis on AUD/NZD, I have decided not to enter. One of my requirements for a short entry is for sellers to prove they have control of price. The current candle is suggesting indecision and not seller control. So I will wait and monitor this one until sellers prove they have control of price. Continue Reading  »

Midday Forex price action Analysis – 2016-09-27 (Setups on AUD/NZD, GBP/JPY, and EUR/CAD)

In today’s analysis I spot two potential set ups on GBP/JPY and EUR/CAD. I also spot what looks like an imminent set up on AUD/NZD.

After running thorough risk analysis on AUD/NZD, I have decided not to enter. One of my requirements for a short entry is for sellers to prove they have control of price. The current candle is suggesting indecision and not seller control. So I will wait and monitor this one until sellers prove they have control of price. Continue Reading  »

Midday Forex price action Analysis – 2016-09-21

Today is an interesting day, we have a few strong setups forming on GBP/USD, EUR/USD, and USD/CAD.

GBP/USD and EUR/USD are showing a very similar long reversal setup from support. However, if you have been checking your economic calendar you know that the FOMC is going to release the federal funds rate later today…

…This release is likely to cause a big move on USD pairs, which would effect this setup. So please trade with extreme caution. Continue Reading  »

Midday Forex price action Analysis – 2016-09-20

In today’s analysis I spot a few potential set ups, the best of which is a EUR/GBP short. Price is already showing signs of stalling on EUR/GBP at the 0.8640 resistance area. This area has held price back twice since the post-Brexit Euro surge, and it could do the same this week. I will be monitoring EUR/GBP on the 6h, 8h, 12h, and D1 charts.

The other setups I found are not as good, we have a weak set up on EUR/JPY, Continue Reading  »

Midday Forex price action Analysis – 2016-09-06 (Potential setups on AUD/USD and USD/CAD)

UPDATE 1: Well the “ISM Non-Manufacturing PMI” numbers that just got released were unexpected. Obviously the potential trades mentioned in this analysis are cancelled without being triggered. However, this new move may have given us some new opportunities. Keep an eye out here for updates.

In today’s analysis I spot two potential setups, a AUD/USD 6/8 hr short, and a USD/CAD daily chart long.

I also discuss trading through news releases, and how I might handle NFP next month. Continue Reading  »

Midday Forex price action analysis – 2016-09-01 (Potential setups on USD/CAD)

UPDATE: The EUR/USD long was triggered due to the ISM Manufacturing PMI’s surprise fall below 50. I do not think anyone saw that coming. Since the entry was triggered by a news based spike, and these spikes tend to retrace quickly, I am closing this trade early.

In today’s analysis I spot one potential trade, a USD/CAD daily chart short. Continue Reading  »

Midday Forex price action analysis – 2016-08-25 (Potential GBP/AUD and NZD/CAD short)

UPDATE: Closing out EUR/USD and GBP/AUD both with small but insignificant gains. Price has been annoying this week, I saw no PUSH from buyers or sellers, I only saw small movements up and down. While I am happy I ended the week with a little profit, I am unhappy with this weeks moves.

And also, closing out my trades means I can get my weekend started, get a few beers, sit in my garden, put on the barbecue, Continue Reading  »

Midday Forex price action analysis – 2016-08-24 (Potential setup on EUR/USD)

In today’s analysis I only spot one potential setup, a EUR/USD long which is a long time away from forming, and an even longer time away from triggering. So all in all it is a pretty slow day today…

…But I do not like to put out boring videos, so today’s analysis session turned into a chat about price action techniques, especially for managing open trades. So you should find this video interesting and informative. Continue Reading  »

Midday Forex price action analysis – 2016-08-17 (Setups on AUD/USD, EUR/USD, USD/CHF, and EUR/AUD)

In today’s analysis I spot four potential trade setups on AUD/USD, EUR/USD, USD/CHF, and EUR/AUD.

The AUD/USD long setup looks particularly good. I may take this long on the 6hr, however, it is also looking good on the 12hr, I will wait and see how this one plays out before making a decision. The EUR/USD setup also looks good, even with the larger upper wick of the preceding candle.

The USD/CHF long setup is not the best looking reversal setup, Continue Reading  »