Pipcrawler

It was pretty tough to find a pick tonight, as there is a lack of reports being released. Well, we’ve seen the Australian dollar make a magnificent run up in the past month, but in the past few days we’ve seen consolidation. Maybe it’s time for a correction… We saw a pull back in commodities …

Well, we had a pretty good week. Hope everyone caught some pips with me! Good luck trading this week. Monday +105 pips Tuesday No Trade Wednesday -68 pips Thursday -40 pips Total: -3 pips

As stated in my recommendation, I waited until 7:00 am EST before I tried to enter my orders. Unfortunately, I could not get my limit orders at the levels recommended, so I waited until after the report to enter the market. The report was release at 8:30 am EST. The employment reported an increase of …

Well, it looks like we got bit on this trade last night. My orders got triggered a little after midnight and a couple of hours after the European session opened we saw a drop in the Euro and the trade stopped out. Now, on the chart review, I pointed out that the trade worked after …

We have the biggest short term, market moving report, US Non-Farm Payrolls, tomor row morning at 8:30 am EST. Tonight’s pick is going to focus on that event. Before I talk about the Pick of the Day, I’d like to remind everyone that this is the most volatile and dangerous report to trade. We’re still …

I have a couple of thoughts that went into consideration for tonight’s pick. First, we had the Japanese Finance Minister Sadakazu Tanigaki comment that the movements in the currency markets as of late may be excessive after the G-7 announced that Asian countries should allow their currency to strengthen. Also, we have an interest rate …

As stated, in my Pick yesterday, I placed my orders at 8:00 am EST. We did see movement after the Factory Orders report was released, but not enough to trigger the trade recommendations. Hopefully, everyone followed the Pick recommendation and waited until 8:00 am EST before entering orders, otherwise you would have been stopped out. …

Tomorrow morning we have several US economic reports coming out. I’m going to focus on the Factory Orders report at 10:00 am EST, so I will place my orders at the beginning of the US trading session at 8:00 am EST. The consensus number is at about 4.0% with the previous at 0.2%. Quite a …

As anticipated we saw strong numbers out of the UK manufacturing sector which caused a rise in the pound against the yen. At about 3:00 am EST, our entry price was triggered, and nearly hit PT1 before it moved back down below our entry. After the report was released the pound just shot straight up …

Early tomorrow morning at 4:30 am EST the UK Manufacturing Purchasing Manager’s Index (PMI) is being released. It is a leading indicator of the manufacturing sector, and its consensus number is around 51.5. Any number above 50 is an indicator of an expanding manufacturing sector. Hopefully, we can catch some pips from a potentially volatile …