Pipcrawler

As you can see we had a pretty go month in April. We’re finally seeing breakouts and trends form in the currency markets as the US dollar is starting to weaken. If you remember, I had technical difficulties the second week of April, so we only had one trade. Who knows what it may have …

At about 7:00 am EST, I saw that the pair was already below my entry level, so I waited and entered manually at 1.2525. Afterwards, the quarterly GDP was released. At first, the pair was slow to move down, but then picked up some steam. PT1 and PT2 was easily hit by 10 am EST. …

Well, we had a pretty good week. Hope everyone caught some pips with me! Good luck trading this week. Monday +20 pips Tuesday -40 pips Wednesday +9 pips Thursday +50 pips Total: +39 pips

Well, Big Ben spoke and the market listened. After he commented on a possible rate pause in the near term we saw a sell off in the dollar. This triggered our order, and unfortunately we caught the last leg of the move. Our position never PT1 and so I closed the trade out at 5:00 …

We have US quarterly GDP coming out tomorrow at 8:30 am EST. Today’s pick will hopefully capture some pips off the potential volatility of this report. Now the consensus number is at 4.9% which is a lot higher than the previous number at 1.7%. Obviously if the number is lower than expected we will see …

Today’s pick is based on general fundamentals and the trend. We all know the loonie and other “commodity” currencies have been on a tear against the US dollar. Even with oil slightly pulling back from record highs, we still saw the loonie gain some ground against the greenback. Along with commodities, we see interest rate …

Well, we had our first big losing day in April…hopefully it won’t be a recurring thing! As expected, UK GDP came out as expected at 0.6%. We saw a move in the pair and it triggered our short entry. The position was up as much as 20 pips before it reversed and stopped us out. …

Cable has been stuck in a range for the past ten days which means that traders are waiting for something to move the pair. Hopefully, UK GDP will be the catalyst for a strong move and break the pair out of the range. At 4:30 am EST, UK first quarter GDP will be release with …

We saw the Bank of Canada raise rates as expected. Traders sold off the pair which caused our entry order to hit. PT1 was hit within the hour, so we moved the stop to break even on the second half of our position. Unfortunately, the second half of our position stopped out at breakeven and …

Welcome back to another wonderful week of forex trading! Hopefully, we can catch some pips this week and continue the streak. Here is today’s pick: Well, the US dollar has been beaten up across all currencies for the past, including the loonie. Today’s pick is in hope that we will see continued weakness in the …