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February 2006 Monthly Archive
In yesterday’s pick the pair broke to the upside and easily hit 10 pips and the aggressive target of the R2 line at .7407. I hope everyone did well on this one.
Today’s pick on the EURJPY. We have several economic reports coming out of the E-12 region and today’s entries should take advantage of any breakouts from any surprise news reports. I will go long with a break and candle close … Read more
Today’s pick is a basic pivot play. I have this feeling the pair is going to run up to the SMA’s and then move back down, but to be safe I will wait for a break of the S1 line … Read more
We had two open trades during the week. One winner and one loser. Now it would have been two winners, but I was a little too tight on the EURJPY stop recommendation. It’s okay though. We made a plan and … Read more
A strong move in the morning hours had this pair easily break the moving averages and hit 10 pips. If you were more aggressive you could have possibly hit 60 – 70 pips easily on this trade.
Today’s pick is a basic play. We have the NZDUSD downtrending. It’s a chart we’ve all seen plenty of times. Sometimes there’s a break to the upside to the 200 SMA then reversal, but this time I think it will … Read more
Today’s pick is on the good ol’ swissy… I like a short play on the pair but here’s a setup if it goes in either direction. If makes a strong move up I will probably enter long with a candle … Read more
Well, it looks like the pair made a strong move to the downside, but my stop recommendation was a little too close for the volatility after the E-12 Current account news release. If you had a wider stop loss set … Read more
Today pick is on the EURJPY. Pretty simple really, going long with a break and candle close above the R1 line. Going for 10 pips, targeting R2 as an aggressive target, and stop at 141.59. Looking for a short play … Read more
Today’s idea is based on the possible volatility of USDCHF after the Trade Report which is coming out tonight at 2:15 am EST (1915 GMT). At the moment the pair is trading above the 200 SMA and below the 100 … Read more
Since the US markets are closed this Monday due to President’s Day, I’m just going to review my past week’s activities. I only picked out two trades for the week. I went for just ten pips on both, but I … Read more
In my pick from Wednesday I entered at 141.66. I adjusted the entry because the 100 SMA moved. It easily broke through the 100 SMA and hit my initial 10 pip target. In the next candle it hit my aggressive … Read more
This trade idea is still has not hit and entry point. I do not like to hold open positions or entry orders through the weekend, so I will remove the orders at the end of the trading day tomorrow if … Read more
Usually, I don’t like to put trades on before big news reports (actually we recommend against it), but I’ve been watching what happens on those days and it’s pretty interesting. Basically, this is a pivot point play. Pivot points work … Read more
(Click on chart to enlarge) EURJPY is in a short term down trend, so I’m going to look at a short play. I will short below the 100 SMA and pivot point right below 141.50. Stop above 50 SMA @ … Read more
Unfortunately, the pair made it’s way all the down to my stop before shooting back up! Oh, well… loses are a part of trading, so I have to live with this one!
(Click on chart to enlarge) This trade didn’t work out exactly as planned. It did make a move up to the 200 SMA as planned, it didn’t quite touch(about 3 or 4 pips off), and then it made a move … Read more
(Click on chart to enlarge) The pair is in an uptrend, so I think I’m going to do a basic fib retracement play. As you can see the 38% Fib retracement level is lining up with the day’s pivot point. … Read more
I was taking a look at the charts and saw USDCAD, and I said to myself, “Self, let’s go for the same trade one more time!” So that’s what I’m doing again today except with the 200 SMA. I’m shorting … Read more
As you can see the pair hit the 100 SMA and then my initial profit target of 10 pips and then my aggressive target within 2 hours. Not bad.