Pipcrawler

Good evening! Sorry it’s a little late! Hopefully we can start out our week right with this one! At 2:00 am EST we have the BOJ releasing its monthly Monetary policy report. This report covers economic developments and serves as an indicator to possible future interest rate moves. As you can see in the chart, …

The Non farm payroll number came out slightly higher than expected at 211K and unemployment rate fell from 4.8% to 4.7%. Also, the February numbers revised down which caused a mixed reaction initially. We then saw the dollar surge after 10 am EST. This caused USDCHF to hit our entry and rise as high as …

The momentum for this pair is currently in a downtrend, so we’ll look to short at a good price. Canada GDP comes out at 8:30 am EST tomorrow so please cancel order if the trade has not triggered. If the trade has triggered, close the trade at 8:00 am EST. I’m looking to short at …

I saw the candle close below the 200 SMA so I entered short at 1.3042. US GDP (Q4) came out at 8:30 am EST. Caused the dollar to go up, and then traders sold off the pair to easily hit my target of 1.3000. +42 pips!

Another loss on this trade recommendation. Luckily it’s only 14 pips. After looking back on the trade, I over look a very important thing and realized why it didn’t work. The Fed rate decision didn’t come out until 2:15 pm EST, which is after the European trading session is closed. So, European traders didn’t get …

It looks like the pair had a tough time breaking and move above the 100 SMA. I’m looking for a short play on USD/CHF if the pair breaks below and candle close 200 SMA. I’m targeting the 1.3000 price level, with a stop at 1.3125.

This pair moved strongly, and hit my entry and stop in one candle bar. Lost 32 pips. Ouch! Hopefully we’ll have better luck on the next trade!

Since there aren’t any news reports I thought I’d look for a resistance play in USD/CAD. I drew the fib extension lines to see where the pair was going and possibly make a reversal. 61% fib line is usually a pretty good reversal point, plus it’s right about the R1 line. So I’m going to …

This pair continues in a downtrend, so let’s see if we can find an entry point. On this chart I’ve drawn Fibonacci retracement and extensions. As you can see we have some levels lining up with each other along with some of the pivot point levels. Good areas to watch for reversals and/or breakouts. So, …

This past week I had 3 intraday recommendations and I closed out one long term trade recommendation. My first NZD/USD trade idea did not enter, but on my second recommendation NZD/USD fit my entry criteria. Unfortunately, I had a pretty small stop loss of 20 pips which my trade hit before shooting down in my …