Winner: Trade of the Week for June 13 to 17, 2011

Winner: 2011-6-13 00:00

The tribe has spoken! We had four brilliant trade ideas going neck and neck, but one was able to inch ahead of the rest. The winner of the Trade of the Week Contest for June 13 to 17, 2011 is none other than monstapips!

Here’s his little trade idea:

USD/CAD, Daily

USD/CAD Daily Chart

Long or Short: Short

Entry Point: Short at .9690

Stop Loss: .9910 – above recent highs

Profit Target: .9450

Risk percentage: 1.0%

Reward-to-risk Ratio: 2:1

Indicators used: RSI

Trade Rationale: The pair has consolidated into a really tight range lately and is still trading within a rising wedge. I feel that a break out is coming and I am favouring a break down lower. Read more…

Congratulations and welcome to the Trade of the Week Hall of Fame, monstapips!

That’s it for this week, folks! If you’ve got a couple of minutes to spare, check out the submissions for the Best Forex Trading System of the Month contest! Let’s help each other find that Holy Grail system!

Voting: 2011-6-11 00:03

The submissions are in, so it’s time to vote for your favorite trade setup for this week! I have compiled a neat list of the setups that have been submitted by our users. Take a look at which trade you think is best and vote for it. Represent yo!


Submission: 2011-6-10 00:01

Alright folks, it’s the time of the week again! Here’s another chance to wow your fellow pipsters with your fantastic forex analysis!

You can now submit your brilliant trade ideas to be chosen as the Trade of the Week for June 13 to 17, 2011.

Don’t hesitate, trader! Go ahead and throw your trade idea in the mix before it’s too late!

The submission period is only from 3:00 am EST to 12:00 midnight EST Friday, June 10, 2011.

Official Rules and Regulations
Submit Ideas at Readers’ Choice: Trade of the Week forum
Trade of the Week Hall of Fame (Past Winners)

Don’t have a trade idea to share? Not a problem! You can still participate by casting your vote for the Trade of the Week! The polls will open 12:00 midnight EST on Friday (June 10, 2011) and will close 12:00 midnight EST on Sunday (June 12, 2011).