Pipcrawler

Today pick is on the EURJPY. Pretty simple really, going long with a break and candle close above the R1 line. Going for 10 pips, targeting R2 as an aggressive target, and stop at 141.59. Looking for a short play with a break and candle close below the 50 SMA. Place stop 10 pips above …

Today’s idea is based on the possible volatility of USDCHF after the Trade Report which is coming out tonight at 2:15 am EST (1915 GMT). At the moment the pair is trading above the 200 SMA and below the 100 SMA and 50 SMA. I use them as support and resistance areas, so if there …

Since the US markets are closed this Monday due to President’s Day, I’m just going to review my past week’s activities. I only picked out two trades for the week. I went for just ten pips on both, but I also picked out an aggressive profit target for each pick. Now if you went for …

In my pick from Wednesday I entered at 141.66. I adjusted the entry because the 100 SMA moved. It easily broke through the 100 SMA and hit my initial 10 pip target. In the next candle it hit my aggressive target of 140.70 for a total of +96 pips. USDCHF – The trade didn’t trigger …

This trade idea is still has not hit and entry point. I do not like to hold open positions or entry orders through the weekend, so I will remove the orders at the end of the trading day tomorrow if it has not been hit or close any open positions.

Usually, I don’t like to put trades on before big news reports (actually we recommend against it), but I’ve been watching what happens on those days and it’s pretty interesting. Basically, this is a pivot point play. Pivot points work really well. They’re like magic almost… okay not really. I’ve seen them stop currency pairs …

(Click on chart to enlarge) EURJPY is in a short term down trend, so I’m going to look at a short play. I will short below the 100 SMA and pivot point right below 141.50. Stop above 50 SMA @ 142.37. Going for 10 pips of course, but my aggressive target is going to be …

Unfortunately, the pair made it’s way all the down to my stop before shooting back up! Oh, well… loses are a part of trading, so I have to live with this one!

(Click on chart to enlarge) This trade didn’t work out exactly as planned. It did make a move up to the 200 SMA as planned, it didn’t quite touch(about 3 or 4 pips off), and then it made a move back down to the 100 SMA. I forgot to mention to take the trade off …

(Click on chart to enlarge) The pair is in an uptrend, so I think I’m going to do a basic fib retracement play. As you can see the 38% Fib retracement level is lining up with the day’s pivot point. I am going to go long at 1.2993, with a stop at 1.2959. Ofcourse, I …