Winner: Trade of the Week (August 15 to August 19, 2011)

Winner: 2011-8-14 23:55

It was a close fight, fellas! But in the end, there can only be one winner. And the Trade of the Week award goes to…

Pinggwyn!

He pointed out the morning star setup in USD/CHF’s daily time frame. It’s actually a longer-term setup suitable for position traders out there, but you might find his trade idea to your liking as well:

He decided to go long after that candlestick pattern formed and stochastic left the oversold area. He based his rationale on the SNB interventions and the recent USD/CHF and USD/JPY rallies. Although he plans to move his stop to breakeven when he’s up by a hundred pips, he’s setting his sights high and aiming for the .8300 area!

Do you think it’ll go all the way up to his target? It might not be too late to jump in the same trade with him! Just make sure you do your research and check out the other details of his trade idea right here:

USD/CHF Long by Pinggwyn

Alright, that’s it for this week’s edition of Forex Ninja’s Trade of the Week. Don’t be shy to pitch in your own trade ideas next time!

Voting: 2011-08-13 00:01

There’s no shortage of trade ideas this week… We’ve got five awesome setups to choose from!

Which among the following do you think is worthy of being the next Trade of the Week?

You have until 12:00 am EST on Monday, August 15, 2011 to cast your votes. What are you waiting for? Let the battle commence!


Submission: 2011-08-12 03:01

It’s a crazy time in the markets right now and we could see more of the same next week! Now’s your chance to wow your fellow pipsters with your fantastic forex analysis! You can now submit your awesome trades setups to be chosen as the trade of the week for August 15 to August 19, 2011!

Don’t hesitate my forex friends! Pitch your idea and post it up before its too late! I’ll only be accepting trade setups that are submitted between 3:00 am EST to 12:00 midnight EST Friday, August 12, 2011.

Just remember to post your trade ideas under a new thread in the Readers’ Choice: Trade of the Week forum.

Before you post your idea, make sure you check out the official rules and regulations first!

If you don’t have a trade setup in mind, then no worries! You can still participate in the contest by voting for your favorite setup! The voting begins 12:00 midnight EST on Friday (August 13, 2011) and will close 12:00 midnight EST on Sunday (August 15, 2011).

Time to put the iPad away and start scouring the charts for some setups! Don’t you wanna be part of the Trade of the Week Hall of Fame?

Good luck everybody and may the force be with you!

  • Stephen Oatley

    This was easy, I bagged a nice 100 pips on the GBPUSD long ;-)

  • resiforex

    This is easy, it’s Pinggwyn who as the only one mentioned here has seen the opportunity in the weakening of the Swiss Franc. 
    The rest of the trades are not that special. Where is USDCHF?
    Watch out for the SNB this week.. ;-)

    twitter: @resifx