Learn How to Trade Forex Price Action

justin bennett-greyscale

Do You Ever Wonder How Professional Forex Traders Pull Consistent Profits from the Forex Market? Well, this is your chance to find out. How would you like to learn how to trade Forex price action directly from me? Get access to my entire price action course, see all of the daily setups and get feedback directly from me. … [Read more...]

The Best Time to Move Your Stop Loss to Breakeven

GBPUSD strategic stop loss placement

The short answer is, never - there is never a good time to move your stop loss to breakeven. Better yet, it is never logical nor strategic to move your stop loss to breakeven. Of course I realize that, "never" doesn't make for a very informative lesson. Therefore I have decided to expand on that idea with some basic principles as well as an … [Read more...]

AUDJPY Fills Weekend Gap, Turns Lower

AUDJPY bearish pin bar on the daily chart

Like all Yen pairs, AUDJPY experienced a major weekend gap to start the trading week. The 120 pip gap came just after the pair had broken down from a wedge pattern that formed during the month of June. However unlike most of the other Yen pairs, AUDJPY was able to fill the gap during yesterday's session. That bullish momentum was short-lived as … [Read more...]

EURUSD Playing with Fire

EURUSD ascending channel with critical support area

As the drama in Greece heats up so too does the price action in EURUSD. The ascending channel we have been tracking for several weeks now continues to hold up, but for how much longer? The fact that the pair found enough buyers to close the gap over the weekend was impressive in and of itself. However I felt the move was a bit uninspiring and … [Read more...]

GBPCAD Rockets to New Seven-Year High

GBPCAD bullish breakout on the daily time frame

The Canadian dollar has sold off aggressively to start the week, and that's putting it nicely. With this weakness of course comes strength in pairs such as USDCAD and GBPCAD. I mentioned the potential for a USDCAD breakout on Monday which was confirmed during yesterday's session. At the same time GBPCAD also confirmed a breakout scenario with … [Read more...]

EURAUD Bull Flag Could be in Play Soon

EURAUD bull flag pattern on the 4 hour chart

Following an 800 pip rally from May 26th to June 10th, EURAUD began digesting gains in the form of a bull flag pattern. Those familiar with the pattern will know that it often leads to a continuation of the prevailing trend. Although I'm hesitant to buy the Euro, I'm just as hesitant to buy the Australian dollar, perhaps more so. And between the … [Read more...]

EURUSD Still Fighting Off the Bears

EURUSD key levels in focus on the daily time frame

As you know by now, EURUSD suffered a major gap down at the open this week to the tune of 165 pips. This came on the heels of the announcement that the Greek banks would close on Monday and remain closed until July 6th. Of course this caused many traders to become excited at the idea that we may be at the brink of another major leg down. Parity, … [Read more...]

USDCAD Not Backing Down

USDCAD descending channel on the daily time frame

USDCAD remains at the top of my watch list this week. After an impressive 2,200 pip rally from July of 2014 to January of 2015, the pair has been consolidating for the better part of five months. Trading channel breakouts is one of my favorite patterns to play, mostly due to the precise entry that can be had with the right amount of patience and … [Read more...]