Trade Ideas

Ha! So much for “not breaking out anytime soon!” Thanks to some rather unexpected news, I took a hit on my short EUR/JPY position that I took yesterday.

I found this beautiful setup on Cable but I don’t know which side to take! Oh my gosh! I feel like I have to choose which is the better lipstick between MAC Ruby Woo and NYC Red Flame! So I’m just gonna let the market decide and save myself the headache.

Boomshakalaka! We’ve got the Final Four coming up next weekend, but it’s still Monday and y’all know what that means – it’s time for my Weekly Winner! I’ve got a sweet-looking setup on EUR/JPY that in hindsight, I should have tried my luck on!

The 1.4200 psychological handle proved to be too much for the euro to handle. You may find this funny, but I actually dreamed the on Thursday that my trade had already hit my profit target at 1.4250. Sadly, it was only a dream. 🙁

After giving you a lowdown on what moved the comdolls for the past couple of days, I now give you my BEST COMDOLL SETUP OF THE WEEK! Can you guess why I gave it to AUD/USD?

Here’s a look at my USD/CHF daily swing short and the levels I am watching.

Stochastic is my new girlfriend! For a second week in a row, it saved me from the heartache of falling for a fakeout. Whew!

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….

It looks like New Zealand technically dodged a recession after all! Yay for New Zealand, boo for my trade! As I planned, I manually closed my trade at the release of the positive report. Here’s what happened…

Drats! Just when I thought I caught a winner, I got killed by the spread as my adjusted stop got hit! What’s worse, price eventually hit my profit target!

The break higher in the EUR/USD has carried the pair to 1.4250 where psychological level resistance at the “50” pip has pushed price lower and broken the uptrend line support of the Rising Wedge pattern.

Sorry for the delay, fellas! Had to put off doing my Weekly Winner price action review today because I got caught up with my GBP/JPY trade! I’ll fill you in on that later on… For now, let’s check in on what GBP/JPY presented last week!

I think I jinxed my trade again by calling 1.4000 a top! Boo! After I entered my trade, EUR/USD only dipped to a low of 1.3751 before skyrocketing past the resistance at the falling trend line and stopping my trade out at 1.4050. Drats!

Whew! After dealing with a crazy schedule and even crazier market action last week, I can’t think of a better way to end the week than doing a comdoll replay. Find out how Japan’s news moved the comdolls, and why I think NZD/USD had the best setup for the week.

Last week my 30-pip filter annoyed me like that “Friday” song. But now, because it saved me from a fakeout, I’m head over heels for it! Oh, how I love you my 30-pip filter!

ARGH! I guess I won’t be able to do my happy dance this time around because my USD/CAD trade didn’t turn out as well as I hoped. Here’s how I got stopped out after only a few candles…

The GBP/USD has traded lower today as the U.S. Dollar rallied slightly higher, but is still in a downtrend. The dollar managed to reach the and trade slightly above 77.00 to a 77.13 high before losing footing above the major psychological level. In the meanwhile, the GBP/USD trades around 1.6000.

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!

After touching a new all-time low against the dollar yesterday, who wouldn’t be smitten by the mighty Swissy? But I’m not head over heels yet… As always, I’m going to wait for confirmation!

The market is just full of surprises, isn’t it? Just when I thought risk aversion would dominate for the rest of the week, NZD/USD popped up from a new 5-month low and rallied to .7450. Thank heavens for my trailing stop!