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It looks like we’re going to start off the month of June with a couple of monster reports out of the US: Core PCE and US Jobs Data. We see US jobs data the first Friday of every month. This is the one report that can cause
Read MoreOur trade was triggered short at 1.0675 at the beginning of the US trading session this morning. Unfortunately, it was one of those cases where I was able to pick the support area instead of breaking area.
Read MoreAs expected, EUR/JPY corrected a bit further. Unfortunately for our “Pick”, it was unable to break support at 163.00 before rallying up to its current level around 163.40. Our trade was never triggered… doh!
Read MoreOur profit target was hit at 1.0730 as USD/CAD continued to fall after this morning’s interest rate decision and the statement soon afterwards. The pair is currently finding support between 1.0710 – 1.0720, and it looks like it will consolidate for the rest of the day.
Read MoreUS Existing Home Sales for April came in at -2.6% to 5.99M. We saw a revision in March up to 6.15M. The Greenback sold off, but the move was minute probably due to low volume ahead of the holiday weekend in the US.
Read MoreIt looks like I adjusted my stop a little too early. After a 20 pip move up from entry, I adjusted the stop from 111.85 to 112.05. Soon after, the pair retraced down once again to close out our position for a 20 pip loss on half a position. 112.00 proved to be a strong support area as the pair has rallied to it’s currently level around 112.80….. Doh!!!
Read MoreWith the thought of any rate cut from the Fed anytime this year, the market has sent the Greenback rallying in a slow and steady pace. Will it continue? For now, this is the
Read MoreJust a quick review from our trade on Thursday in which we were long CAD/JPY. April inflation data did come out stronger than expected which boosted the Loonie, but we hit a stumbling block on Friday as China widened the trading band for the Yuan. This proved to be more of a buying opportunity
Read MoreWe have been entered short half position in GBP/USD at 1.9830. We have April housing data just released with Building Permits down 8.9% and Housing starts up 2.5%. With such a weak Building Permits number I look to
Read MoreEUR/USD traded in between 1.3530 to 1.3560 during the Euro trading session as data came in mixed from of the Eurozone’s largest members. There were no trades triggered and ahead of the closely watched US CPI data out at 8:30 am EDT we will
Read MoreA peak performance trader is totally committed to being the best and doing whatever it takes to be the best. He feels totally responsible for whatever happens and thus can learn from mistakes. These people typically have a working business plan for trading because they treat trading as a business.Van K. Tharp