Trade Ideas

So much for a breakout trade! Thanks to your votes and comments, I closed my trade manually just in time to see USD/CAD skyrocket to near my stop loss area. Whew! Read on to see what happened!

I think I jinxed myself! I said that it was going to be a perfect trade so many times that the markets heard me and turned the tables against my favor. Ha! Kidding! I have no one to blame but myself and the market isn’t out to get me (or any of you either, dear readers).

I’m back with another Weekly Winner, and my top pick for last week is once again good ole Guppy!

Good day, friends! Waking up on a late Saturday morning after a busy Friday night always puts in me in a bright mood, so I decided to do another one of my favorite things – analyzing comdolls! Here are a few economic events that rocked the comdolls’ socks, as well as my best comdoll setup for the week…

There’s been a lot of talk about why the dollar “should” go up and my take has always been that by the time I hear it, it’s been “baked into the cake” aka already discounted.

That’s not to *dis* fundamentals. I simply feel that the rally from February 2 – 12 may have been when the fundamentals were moving the U.S. Dollar Index higher.

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.

The GBP/USD is a perfect example of a current swing buy. A “swing” is another way of saying correction or a pullback in an uptrend or bounce in a downtrend. But how much of a correction is enough to offer support in the uptrend and resistance in the downtrend?

My, oh my! Imagine my surprise when I came back home from a night out with my home girls and found out that USD/CAD dropped like a rock! How could I have played this trade better?

The U.S. Dollar’s resistance at 79.00 will play a significant role in my continued expectation for the EUR/USD to bounce. I must avoid being too rigid however because a failure to notice a transition to a sideways market trend on the daily EUR/USD could put me on the wrong side of intraday trends as well as keep me bullish too long.

‘Sup fellas? As I promised last week, I’ll be doing a weekly price action review on the best setups on my favorite crosses. This week’s “Weekly Winner” is none other than GBP/JPY!

After more than a week of waiting, I finally closed my USD/JPY trade at a profit! This is probably how my home girl Esperanza Spalding feels after winning the Grammy Award for Best New Artist!

Noooo!!! I just missed a sweet-looking head and shoulders breakout! Will NZD/USD retrace back to its previous support, or continue dropping down the pip deeps?

After three all-nighters, I’m finally done backtesting the second version of the HLHB. Check out the results! I’ve got to warn you though, the figures ain’t pretty.

EUR/JPY, I’ve got my eye on you! The pair has been trending up lately, but I have a feeling it may change directions soon… The question is, where?

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!

Will the dollar get some lovin’ from traders ahead of Valentine’s Day? Hmm… I hope so! Because upon seeing that descending triangle on Cable, I think I’m going to dump the pound in exchange for it!

I’ve decided to follow Pipcrawler’s lead and make past price action reviews on my favorite currency crosses. He has his “Pick of the Day,” now get a load of Cyclopip’s “Weekly Winner!”

I did a one-hour webinar this part weekend and it was about the seven keys to my trading that I introduced here yesterday. The series will continue but I thought I’d share the notes that I used in the presentation.

I train in MMA (mixed martial arts) twice a week with one of my best friends. It’s a physical chess match as compared to the electronic chess match that is trading. I was speaking to my jiu jitsu sensei (teacher) after class today and the subject of what I did for a living came up. I explained that I was a currency trader and expected him to give me a blank stare.

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!