DNB Forex Price Action Membership Review

Hello all I hope you are having a great weekend. I just wanted to provide a review of a brand new forex price action membership program that I have recently joined. It is called DNB Forex Price Action War Room. For any of you who have been reading my blog know that I am a big fan of forex price action methods, especially trading from the larger time frames such as the Daily, 8 hour and 4 hour charts. DNB Price Action War Room it is an instructional forex price action membership program that specializes in teaching forex price action methods from the daily charts so naturally it got my attention and I joined. The lifetime membership is very reasonably priced at $147 when you consider the value provided with the membership.

Within his DNB Price Action War Room the first gem Mr. Blackmore provides is the 30 module Price Action Protocol trading manual. In my opinion the Price Action Protocol trading manual will provide everything you need to become profitable forex trader, provided you are disciplined and have good money management. But the membership goes way beyond the price action instructional manual, and it is these extras that actually influenced me to join. Mr. Blackmore provides a daily “Chart of the Day” analysis of the most promising price action set up. Once a week (usually on Saturdays) he also provides a 25 – 30 min Market Commentary video in which he provides his price action analysis for the major pairs. This analysis allows you to get ready for the trading week ahead and lets you inside his head with respect to market analysis and what he is looking for in potential trade setups. Below is a snippet of one of the Price Action War Room weekly commentary.

In addition to all these great teaching tools there is also a forum which allows all members to discuss potential trade setups. I truly believe that this interactive participation is the only way to truly improve your skills as a trader.

Update: July 8, 2013

As a bit of an update Mr. Blackmore has now added some additional valuable content and instruction to his War Room membership.  He has added the “Price Action Experimental Lab” which has additional instruction on trading using the 4 hour charts, entitled the “4 hour trading strategy”.  Within this section he has also added a section entitled “The Power Candle”.  These power candles frequently show up on our daily and 4 hour charts.  Mr. Blackmore provides a great explanation of what the “Power Candle” is and how to best trade them.

For any of you who are truly interested in learning more about price action trading I would take a serious look at the DNB Forex membership by clicking here: DNB Price Action War Room.  In my opinion it is one of the best forex trading membership courses out there, and provides great value for the one time membership fee!

Well that about it for now but if you enjoyed this post please comment, share and like!

Cheers 🙂

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Potential AUDCAD Daily Forex Setup

Hello all I hope you are having a relaxing and restful weekend.

I was looking at my charts this evening and just wanted to throw up a quick post regarding the AudCad currency pair on the daily chart. As you can see on the chart below the AudCad has been in a fairly strong down move for about a month now. I think it is safe to say the current trend is down so personally I would only be looking to short this pair until there is a clear indication that the trend has reversed.

You will also see on my chart below that I have marked the level around 1.0421 as a key level. This level has acted as both resistance and support in the past. So I will be watching this pair closely as it approaches this resistance level in the upcoming days. Assuming price actually continues higher and reaches this resistance zone I will be looking for some clues that price may provide as to whether this pair is continue up and break past this level, or whether the bulls will have lost steam and price will continue back down with the trend.

These clues are based on price action and may include pin bars, dojis, a bearinsh engulfing bar, or price may just possibly consolidate for a while around this zone.

It will be interesting to see what happens with this pair over the next few days and I will do my best to do a follow up post if a trade signal materializes for us!

Well that is all for now. If you enjoyed this post I encourage you to comment, share and like 🙂

Cheers
20130503_AudCad

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Gold Heading South Again?

Hello all, I decided to enter a short order on Gold today at 1459. Here is my analysis and thoughts with reference to the daily chart below.

In my opinion there is a resistance zone at the 1478 region. This level acted as support back in July, 2011. Price is currently in a downtrend but has retraced to this resistance level, and has also retraced to the 20 EMA providing confluence.

We had an indecision bar at this resistance level on April 26th, followed by two inside day candles, one of which was a doji (or almost a doji depending on how picky you are). Today price broke below the low of the first inside day bar and that is what I used as my trigger to go short.

I have set my stop loss above the high of the indecision bar at 1487 and a take profit at 1406. I selected 1406 as my TP because this level appeared to act as brief resistance and brief support on prices way up to 1487 so I suspect price may stall here again. This TP level almost provides a 2:1 risk vs. reward.

Once again this post is meant for educational purposes only and is not to be taken as trading advice.

If you enjoyed this post please post, comment share and like!

Cheers 🙂

20130501_Gold

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