Forex Trading For Profit - a journey of a retail trader

Forex News

Dont miss out on important Forex news, analysis and information, subscription is 100% free sign up today!

Forex Trading

Forex Trading For profit is a leading source of forex related information. Be sure to sign up to the free news letter first.

Learn Forex trading here from beginner to advanced. Learn how to create automated systems, choose the correct forex broker, and all about momey management.

Start your forex trading journey here!

Automated Trading

Learn how to design and automate strategies using Forex robots.
Learn more

Forex Brokers

Learn how to choose the right broker. Best forex brokers and reviews.
Review Brokers

Learn to Trade Forex

  • Free beginners course
  • Learn to trade Forex
  • How to sign up to a broker
  • Download and use a free trading platform
  • Learn how to place your first trade
  • Advanced techniques


Free guide!

Want to learn from a Proprietary Trading Firm? Sign up to an advanced course!

What we do and what we are about

Forex trading for profit brings insights into the forex market along with technical and fundamental analysis. A focus on the Forex industry and how to trade the foreign exchange markets. Take your personal journey into the forex market as a retail trader and learn how the pro's do it.

We are constaintly growing and becomming the most imformal souce of forex realated information around. We know how fustrating sifting though it all trying to find the right path. We aim to provide you with the best information and forex brokers.

Forex signal services will be comming later so please sign up to be the first informed.

Join the other 10,000 plus followers on facebook
We have also been named in the "TOP 100" forex trading blogs so join us while we are still 100% free.

Forex Trading For Profit Just In...

EURAUD – Head & Shoulders heralds Declines ? 05/04/2018

AUD?USD

Share on...

EURAUD – I have written about this pair twice recently. On Wednesday last week I analysed a bearish formation (Outside Bar) which was formed on this pair. This week, the price left the formation thru the bottom falling to the nearest support level of 1.5980. There was a demand reaction that led to the lower limit of the OB in accordance with the former analysis. Today, there were again drops and another retest of said OB.

Why is this pair analysed by me for the third time this week? The situation presented on the H4 chart should be the answer.

EURAUD H4 – Head & Shoulders formation if implemented can lead to 300 pips declines

Currently, the pair has drawn a characteristic Price Action – Head and Shoulders formation. The price is actually at the “neck” level. If this level is effectively broken (1.5900), considering that H&S is a bearish formation – we can expect further declines. The range of these drops can be up to 300 pips, the same as the range (height) of the formation.

Of course, along the way, the price will come across some support on which local corrections may occur. The first one can be the level of 1.5820, where the price may be turned back to test the previously broken neck line, if the bearish scenario is implemented. In the event that the market goes north not effectively crossing the neck line, overcoming the level of the right shoulder 1.6090 will negate the downward trend.

Share on...


Generic placeholder image

About me

I’m just an ordinary guy with a family that wanted a way not to live freely and to do something I have passion for. I found that passion when I stumbled across forex a few years ago and endeavored to find a way to make it work for me. This has become my journey and my life and this is the way I trade.

View details »

Generic placeholder image

Forex Trading

Trading forex is highly lucrative and gives you the highest return on your investment you can trade from anywhere in the world on your pc, laptop or phone. It gives you freedom and can bring the lifestyle of your choice. If you are new to forex and want to learn please go to the “new to forex” page to get started.

View details »

Generic placeholder image

Chart analysis

Forex Technical analysis and chart talk, weekly set ups, support and resistant points. Technical analysis is the skill needed to interpret chart behavior to make rational speculation on price movement. It involves trend following momentum indicators and chart patterns.

View details »