Pipcrawler

Our short entry was entered on USD/CAD and stopped out for a loss…we were only 6 pips away from hitting pt1 and walking away with some pips… doh!!! It seemed the market was pretty dead until about 12 pm EST when Philly Fed Index came out way, way, way better than expected.  Dollar bullishness meant …

Without any major economic reports coming out tomorrow, I’m looking to enter a couple of short plays on the AUS/USD, and to catch what seems to be a short term downtrend. It looks like the pair stalled at the 0.7600 level. I’d like to see a small relief rally before I jump in short to …

Tonight’s pick is on USD/CAD. It’s been in downtrend amidst US dollar bearish sentiment and higher oil prices. With today’s double economic whammy of lower US CPI and Housing Starts, we may see greenback sell off continue as the probability of another FOMC rate increase drops. To find a great price to jump in the …

It looks like we got a little lucky today as our short entry was triggered and was nearly stopped out! Luckily, the CPI and US Housing starts came in numbers lower than expected causing a sell off in the greenback and our trade to come to full profitability. Lot 1: +20 pips Lot 2: +50 …

Well, the chart says it all – besides a little volatility at the beginning of the Euro trading session, this pair went virtually no where. Of course, we shouldn’t be surprised. Many pairs have been stuck in a trading range as economies around the world are second guessing what central banks may do in the …

The USD/CHF has been in a very tight range of about 12 pips since the close of the US trading session this afternoon. Traders are on the sideline as we have significant US economic reports coming out tomorrow, most notably US Consumer Confidence report. With a range so tight, I feel we should se a …

We have a great looking chart on EUR/JPY. The euro has been making new all time highs against the yen, but when’s it going to end? Again, who knows? The Eurozone economy has been getting better and better, and the ECB has inflation concerns on their mind. We don’t have any news reports coming out …

Monday: No trade Tuesday: -50 pips Wednesday: -40 pips Thursday: +25 pips Total: -65 pips

We are taking a look at our USD/CAD trade on a 10 minute chart to get a better view of price action on Friday. Our long entry trade was hit as the pair drifted down before Friday’s economic reports. Retail Sales gave the greenback a boost and we saw pt1 hit soon after. Unfortunately, loonie …

For those of you who follow my picks regularly (in which I greatly appreciate), you may have noticed an error in my short entry order last night. Instead of short at 1.2290, it was supposed to be 1.2190. While I could respond and send a corrected level to those who emailed me, I couldn’t correct …