Last week there were only a few trades but some the ones taken took a few days to play and banked a lot of pips.

A number of pairs had some major drops last week and I’m going to share one of them with you now.

When identifying levels from which to trade, we usually consider a level to be strong if price has not been able to break through it. Once it is broken we ignore it and wait for the next setup. This is generally good practice. There are occasions however, where price will break through your pre identified…

First and foremost, I am a supply and demand trader and this forms the basis for all of my trading decisions. Whilst the above is true I feel that it is important for me to consider support and resistance (also called SR for short) as part of my analysis when considering potential trading opportunities.

This describes a particular type of price action where price swings up and down absorbing supply and demand levels as it goes. It’s important to understand what exactly is happening here so that when this price action develops we know how we can react to it.

Level Test The level test or LT is a type of PA where price leaves a level, and then comes back to test it before continuing in the original direction. They help to show the origin of the imbalance that caused a big movement in price. As a supply and demand trader I look for…

Spikes in Price This type of PA is common and happens for a number of reasons. When price leaves a demand level where there is a strong supply and demand imbalance price will often rise sharply creating what I call a spike in price. The opposite is true for supply. Where price leaves a supply…