Trade Ideas

Well, well, well… As it turns out, what I initially thought would be a super trade just turned out to be a breakeven trade.

I guess risk appetite was just too strong for technical setup! Though we saw weak economic reports from Australia yesterday, the surge in appetite was enough for the Aussie bulls to launch a fresh attack against the dollar.

The cable has moved higher through the downtrend line of the Channel Down on the daily chart. This move is accompanied by a break though the 1.6200 level on the pair which has been resistance since the Jul13 rally and represents a break that could really attract momentum.

No trade for me this week as my short orders at the 61% Fib were narrowly missed–by 1 pip! With the market already dropping 100+ pips and the week coming to close, it’s time to shut down and review.

This week has just been so intense! With all the talk of debt dominating headlines from the U.S. to the euro zone, I feel like my brain has turned into an ice blended Frappuccino.

Shabam! And just like that, AUD/CAD hit my profit target. Only problem is, I never got triggered!

Computers can do in a microsecond what would take humans hours to do manually. Beginning with the U.S. equities market more than 15 years ago, algorithmic trading has become common in major financial markets – and has penetrated the foreign-exchange market in a big way in recent years.

I’m not usually a huge cross-rate fan, but the minutes from last night’s RBA release and the BOC rate statement both being digested there’s reason to look a the AUD/CAD. Bottom line: Traders are discounting a rate hike in the loonie while simultaneously “baking-into-the-cake” a rate CUT in the aussie.

Darn! I chose a good spot to go long, but AUD/JPY just couldn’t break through resistance at WATR/85.00 major psychological handle!

Argh! It looks like I missed a really huge setup on the comdoll charts last week. This particular pair made a 400-pip rally, can you guess which one it is?

With all the news we got last week, there were a ton of awesome setups on all the cross pairs. But my pick for last week? I’m going for that sweet down move on Guppy!

Trending patterns like the NZD/USD’s Rising Wedge can be traded one of three ways and it all depends upon the strength of the (up)trend. The daily NZD/USD has rallied through the uptrend line resistance of the pattern triggering a contnuation breakout entry long. Chart pattern alert courtesy of Autochartist. The first way – and this …

Because I had to keep my myself from facing the fact that Harry Potter is finally over (sniff, sniff), I decided to round up my stats for the second quarter of 2011. Too bad for me, the digits I came up with aren’t exactly the best pick-me-uppers.

Oh no, not another heartbreak! How many chances do I have to give AUD/USD before I actually win a trade? Here’s what happened to my latest attempt at trading the Aussie.

t was a quick and very eventful trade for me as UK employment surprised and Fed Chairman Ben Bernanke’s testimony to Congress rocked the markets.

Good day my khalasar (I just finished watching Game on Thrones so please forgive me for feeling like I’m Daenerys)! Today, I’ve got a nice little long-term trend play on EUR/USD. Judging from how it sharply rose, it could be a chance to “sell high.”

This is a question I received from a new trader who has been learning about how I trade. It’s an interesting question – especially during these times where the lack of a bullish or bearish Directional bias on many majors – is increasingly driving me personally to the shorter-term, intaday time frames.

So much for the euro rallying on the back of an ECB rate hike! All it got was a little boost… certainly not the big rally I was hoping for!

With a bear flag breakdown, the daily USD/JPY has taken the first step back to possibly testing the 80.00 decade level and setting up a continuation of the prior meandering downtrend in the pair.

The fact that two markets in distribution (the daily dollar and EUR/USD) are trading into their potential exhaustion areas makes today’s price action all the more important and brings up this question: How much potential for follow-through is there?