Pipcrawler

Well, it looks like we got a winner last night with a continued drop in the GBP/USD on rising inflation concerns in the US and inline numbers out of the UK. Within a few hours, the pair dropped and easily triggered our entry point. Pt1 and pt2 were easily hit for a nice total of …

I couldn’t resist doing another pick on the GBP/USD with such a nice technical setup. Fundamentally, we saw a strong drop in the pair due to inline results from manufacturing and industrial data from the UK, and rising inflation expectations from the US. Of course, we saw a retracement on profit taking after the move, …

As you can see on the chart, it looks like we caught the end of the short term downtrend, and the trade went against us for a -30 pip stop loss. I still like a longer term short on EUR/JPY- maybe weeks or months – but for the Pick of the Days, we’ll stick to …

After a strong move in GBP/USD for the last day or so, the pair is now in consolidation mode – it’s now trading in a 20 pip range, approximately. Now traders are potentially waiting for the numbers out of the UK at 4:30 am EST, and in these types of situations I like to play …

Last week I had a short play on EUR/JPY that didn’t pan out too well. In hindsight, it was definitely a good idea to go short, but on a longer term basis with a wider stop. So, we’re going to jump back into this pair, hoping we’re getting in at the beginning of a larger …

Aug 1 – Aug 3 +165 pips Aug 8 – Aug 11 -65 pips Aug 15 – Aug 18 +10 pips Aug 22 – Aug 25 +37 pips Aug 29 – Aug 31 -20 pips Total August: +127 pips

In my last pick, we saw the euro quickly rise against the yen, and there was no stopping it! Our short trade was triggered, and we were so close to pt1, but the pair reversed and continued its long term trend. We got closed out at a loss of -20 pips per lot. Grrr!! Lot …

Tomorrow we have the US Non-Farm Payroll report coming out. I usually do give a pick for that trade with a strong warning against trading that report…now I’m just not going to trade it. The market right after that report moves way too fast to get any kind of acceptable execution, even with entry orders. …

pt1, but narrowly missed pt2 before it rose back up and our second lot we closed at break even. There wasn’t much going on in the pair as German Consumer Confidence came in as expected, so we were pretty lucky to catch a little unexpected volatility in the session. Congrats! Lot 1: +20 pips Lot …

After the weak US consumer confidence number and concerns from the FOMC on the housing market, traders sold of the dollar and piled into the euro. We watched today as the euro rose in value in all of its crosses, but is the short-term move exhausted? I think so, and maybe we can catch a …