Watching the USD/JPY Trend Higher
Good afternoon forex friends! There’s a technical setup forming on USD/JPY that looks very promising to work out, but with the US elections coming up tomorrow I’ll be in “watching” mode for now.
Read MoreGood afternoon forex friends! There’s a technical setup forming on USD/JPY that looks very promising to work out, but with the US elections coming up tomorrow I’ll be in “watching” mode for now.
Read MoreGood afternoon! USD/CHF did make its way back up to the previous area of interest and found resistance, but unfortunately risk aversion turned things around ahead of today’s NFP.
Read MoreGood morning forex friends! I held on for as long as I could, but it seems that traders have already priced in a Spanish bailout into the euro. This moved the market to a point that invalidated my technical setup, so it was time to go.
Read MoreGood morning! After holding my USD/CHF short position for over a week, and quite a few twists and turns, I think it was time to let this lingering trade go ahead of another potentially volatile NFP report.
Read MoreGood morning forex friends! With September come and gone, we’re now in the final stretch of 2012–where in the heezy did time go!? But before I get down and dirty with the final months of the year, I gotta do a quick reflection on my third quarter blog performance.
Read MoreGood evening forex friends! My boy Big Pippin’ spotted a nice channel on USD/JPY, so I broke it down to the lower timeframes and saw a nice setup to short again. Check it out!
Read MoreGood morning forex friends! It looks like I got pretty lucky with my directional bias, but not so lucky on how deep the pullback would be. Take the jump to checkout how USD/CHF acted ahead of the FOMC meeting.
Read MoreGood afternoon! It looks like the market got an appetite for risk pretty quickly with today’s events; not good for the Japanese Yen. Check out how the ECB press conference and surprise ADP data affected USD/JPY today.
Read MoreGood morning! Price action was a snoozer this week, but it did go my way just enough to get me into my long USD/CHF position and into profit. Unfortunately, today’s mixed US data changed that pretty quickly.
Read MoreGood morning! USD/JPY played out in my favor as the pair retested the previous resistance areas and held. With technicals signaling short term minor support–and the BOJ decision coming soon–I decided to close out my trade.
Read MoreThe damage from a bad trade often extends well beyond the loss on the trade itself. By shaking up a trader’s confidence, such trades can lead to missing winning trades the trader would otherwise have taken. The resulting missed profits can often even exceed the loss on the original trade.Jack D. Schwager