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In my last lesson#4 i have mentioned that finding a true support/resistance or supply/demand zone for a perfect trade, using this method we can identify many good trades with best risk reward ratio... NZDJPY is looking in solid uptrend Daily chart and price is keep making higher lows each time and keep moving up but each price has thier station where they pause and reverse or sometime those area are temporary and price break them but using pri ce action tell us which is solid supply demand zone as already mentioned the more price stop at supply demand zone they more become stronger Looking at daily chart it is clearly seen that 91.80 - 92.00 are is strong resistance and price is not able to break in previous few moves and fall sharply.. If you look at today's daily bar it has breached that resistance level but at the end price not able move upward and bulls dead at this zone and bears started taking the control. Since this is clear uptrend the fall might be small but can g...

NZDUSD has just broken its trend line resistance level forming from Oct 2014 and this might be interesting if price close above this broken resistance level on Daily bar.

EUR/USD declined on Wednesday to hit support at the near-term black downtrend line. The rate remains above  that line, something that keeps alive the scenario for a rebound and another test near the 1.1540 (R1) resistance area. On the other hand, our short-term momentum studies provide signs of weakness. The RSI broke below its upside support line and dipped below its 50 barrier, while the MACD has topped and moved below its trigger line. Personally, I would prefer to see a break below 1.1260 (S1) in order to adopt the negative view. Such a move is likely to prompt bearish extensions towards the support of 1.1100 (S2), defined by the low of the 26th of January. Having these mixed signs in mind, I would prefer to take the sidelines at the moment as far as the short-term picture is concerned, and wait for more actionable directional signals. Switching to the daily chart, we see that the price structure still suggests a longer-term downtrend. EUR/USD is printing lower pea...

Trade taken last week of January 2015.

NZD/USD  collapsed after the Reserve Bank of New Zealand shifted from a tightening bias to a neutral bias and even held out the possibility that the next move in rates would be a cut. The pair found an initial support near the 0.7320 zone, but broke that line and declined even more during the European morning Thursday . Given the negative sentiment towards kiwi, I would expect the pair to fall further at least until our 0.7220 (S1) support line. Our momentum studies support the notion. The RSI fell sharply below its 30 line and is pointing down, while the MACD, already negative, crossed below its trigger line. On the daily chart, the recent break below the black channel the pair has been trading in since December switched the bias to the downside, confirming the trend mode of this pair. • Support: 0.7220 (S1), 0.7180 (S2), 0.7120 (S3). • Resistance: 0.7320 (R1), 0.7400 (R2), 0.7490 (R3). Source : Ironfx https://www.ironfx.com/en/reg...

Trade taken Sold AUDUSD at 0.7850 and EURUSD at 1.1312 100 pips TP and SL 50 pips Result -    AUDUSD running 45+ pips and EURUSD 5+ pips ---------------------------------------------------------------------------------------------------------------------------------- Buy EURJPY at CMP 133 Tp 50 - 100 pips SL 40 pips Result - Running 30+ pips

Oil prices slide ahead of OPEC meeting  With just a day ahead of the Organization of the Petroleum Exporting Countries (OPEC) scheduled meeting in Vienna, impromptu talks between member nations Saudi Arabia and Venezuela with nonmembers Russia and Mexico ended without announcing any kind of agreement. On top of this, signals sent by individual member nations thus far suggest there is little consensus on whether and how to reduce output and stabilize prices. Benchmark West Texas Intermediate crude for January delivery fell to USD 73.60 a barrel, while Brent crude oil dipped to USD 78 a barrel on these developments. What could be agreed  on Thursday  is stricter enforcement of the existing production quota of 30 million barrels a day. Yet this is unlikely to be enough to reverse the fall by more than 30% since June in oil prices as there are no guarantees of any production cutbacks nor it is clear how non-OPEC members will react. It looks to us as if the decline in oil pr...