Pipcrawler

Good afternoon to all you Asia session players! Here’s a review of my AUD/USD day trade as I only managed to snag just a few pips for the day. Check it out!

Good morning! We saw USD/JPY spike lower after another earthquake hit Japan yesterday morning. The pair dropped enough to trigger my long trade and then we saw the market rally back higher within the same hour. As the weekend was quickly coming to a close, I decided to close my trade to avoid weekend risk.

It looks like euro sentiment continues to remain fluid as the market shifted gears on speculation that the potential ECB interest rate hikes outweigh the sovereign debt issues and credit downgrades. Needless to say, this didn’t work out too well for my day trade….

Risk aversion continues to be the name of the game and it looks like the Greenback continues to benefit from it. My short EUR/USD trade was triggered for a few nice pips on the day. Check it!

It looks like the mix of economic and geopolitical events over the past day or so has brought back fear and safe haven flows to the Greenback. Cable also deviated from past behavior after the BoE held rates and bond purchasing plans steady.

Good evening! With the US Non-Payrolls coming up soon, I have decided to lock in profits by closing out my short positions on Cable. Didn’t catch big moves, but it was a nice profit for the week. Check it!

Big moves for Cable as expected, but the volatility didn’t move the markets in my favor as GBP/USD moved higher first and then dropped like a rock! Check out my trade and price action review for nice short signal before the madness started.

We finally got to my event of the week, the UK Interest rate decision. As expected, the Monetary Policy Committee (MPC) held rates at 0.5%, and just like the past few announcements, Cable rallied higher–unfortunately without triggering my orders…doh! Take a look!

With my swing idea orders from yesterday’s post cooking, I thought I’d switch back to “Pick of the Day” mode with a price action review on AUD/USD. No news day ahead of big events generally means ranges may rule. Check it out!

For today’s price action study, I’ll review a setup I like to call the “Trifecta.” Basically, it’s a candle pattern and divergence forming at an inflection point, and when you see this bad boy, it’s a good signal of a potential reversal. Check it out!