Trade Ideas

Oh phoeey! It looks like EUR/USD is starting a new downtrend but I’m not in it – my trade signals didn’t all line up!

Noooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo! It looks like my trade idea was way-off as price continued to shoot up after the appearance of the shooting star. I will not get emotional, I will not get emotional!!!

The U.S. Dollar continues to bounce within an overall range between 78.61 and 75.23 with what I see as a definite bearish bias coming from the mark down phase which has yet to transition or be broken.

On the chart I use here at Chartology, you ‘ll notice that I have a particular set of moving averages and color-coded candles that help me identify the trend, momentum, and sentiment of the market. Market trends or phases is the first step of my trading approach which means that before I enter a trade I must determine the market’s psychology which is revealed by its movement.

Oh, what a bummer. AUD/JPY just left poor little Happy Pip behind! It did zoom all the way up to 82.00, which is my first profit target. Should I have just entered at market?

Saved twice, missed a good trade once – that’s the story of the HLHB system this week.

De ja vu? A glitch in the matrix, perhaps?? This trade played out almost exactly how last week’s did! Drats!

I know it’s kinda late, but I just couldn’t sleep. When Huck can’t sleep, what do you think she does? Look at charts of course. Ahh, I love how the forex market is open 24 hours!

Success! Thanks to my wide stop, my trade was able to handle all the volatility and hit my first profit target.

The week as far as I’m concerned will begin on Wednesday after the election results are in and traders can then determine what they want to do with equities and the dollar. in the meanwhile, with a RBA rate hike seemingly imminent, I also look at the aussie, the uptrend and why I still feel the daily is being bought a corrections lower.

My idea that the Greenback sell off has run out of steam worked out pretty well against the majors–except Cable. While the rest of the majors are trading lower on the week against the Dollar, Cable is grinding higher on better-than-expected UK data.

Yipeee! Back to back wins for me! I was actually a bit nervous with this one because it didn’t start out too well, but in the end the price zoomed up to my profit target. See how it all played out!

Oh 30-pip filter, how I love you. Thanks to you, I have managed to avoid another major whipsaw as EUR/USD bounced around 1.3750 and 1.4000 this week.

I’ve been holding on to this trade for almost a week already so I think it’s time to close out and be happy with my winnings. I know, I know… I could’ve made much more but, hey, a win is still a win!

Looks like a new high has formed on EUR/CHF, which invalidates my original trade idea.

Another week, another couple of close calls but no signal from my HLHB system! A blessing in disguise perhaps?

And just like that, I got stopped out on my EUR/JPY trade. Looks like I was wrong as traders saw Tuesday’s drop as another opportunity to buy the euro cheap!

I wanted to share this with you today because I feel this week is going to be an important adjustment for me personally as far as the trading strategy I have used for the past six weeks is going to shift away from 240-minute swing entries to a focus on the daily time frame.

Wow! What a difference 24 hours can make on currencies as the China interest rate raises didn’t have much of a lasting effect on the markets. Traders returned to further Fed QE2 sentiment, and with the help of positive corporate earnings, risk was quickly picked back up.

Phooey! Thanks (or should I say NO THANKS?!) to China’s SURPRISE decision to increase interest rate by 0.25%, I had to stomach another loss.