Pipcrawler

As you can see by the chart we saw some volatility push the pair down to hit my short trigger and then bounce back up. Doh!!! Seems like I know how to pick reversal points, eh? Well, today was another loss. Hopefully we will do better with the next pick! Lot 1: -40 pips Lot …

We have seen the Euro rise against the dollar lately, but against the Yen it has been drifting lower and lower. Now we have potential volatility with the E-12 CPI coming out at 5:00 am EST. With the trend on the 1 hour chart going down, I’m looking for a short trade when it hits …

We have the UK CPI(m/m) coming out at 4:30 am EST. This is the monthly measure of inflation experienced by consumers. The consensus number is around 0.6% versus the previous number of 0.2%. Any surprise in this news report should cause high volatility in this pair, and hopefully we can capitalize on that. Cable is …

Terrible. Monday -70 pips Tuesday -28 Trade Wednesday -78 pips Thursday No trade Total: -176 pips

Sorry to say that I had another losing day in the markets. In last nights pick we saw volatility push the pair down, and then shoot back up! This seems to be the theme this past week with my picks. I’ve been a pro at picking reversal points. Haha. So, that short trade idea stopped …

Even the best of traders have their slumps (not to say I’m anywhere near the best). Look at Barry Bonds. So what does a trader do to combat a losing streak……Stop Trading! And that’s what I’m going to do. It’s been a rough week, not just for myself, but for a lot of traders I …

In tonight’s pick I’m looking for the Japanese Yen to strengthen against the Euro. We have seen Asian currencies rally against the majors in the past few trading days. Especially the Yen, as traders are positioning for a possible rate hike out of the BoJ. The pair has been in a down trend on the …

We saw the pair make a strong move right before the US trading session and our long trade was triggered at .7764. After entry, the market did not move much as traders waited for the FOMC interest rate statement at 2:15 pm EST. As expected, we saw volatility after the report as the pair dropped …

Well, I made a major error with last nights pick… I admit it. I went with the fundamentals and ignored technical analysis. I saw a pullback in commodities and a short term rise in the strength of the dollar and went against the trend. I thought there would be a correction and I was wrong. …

I’m looking at the Aussie dollar again for a few reasons. Mainly, commodities did a turn around after a few days of weakness, and with economists urging the Chinese government to increase gold reserves, we may see the recent highs of gold to continue. So, with gold and the Aussie dollar moving almost in sync …