Trade Ideas

The US Dollar Basket has moved lower on the 60-minute chart as the Dow Jones is still weak but has significantly pared back the losses seen earlier in Tuesday’s trading session. The Dow’s mid-morning recovery has slowed the pace of US Dollar buying.

After a couple of weeks of inactivity, my has finally started showing some life as a bullish crossover happened. I did not enter though because my signals did not line up!

After the EURJPY hit my first profit target, it quickly rose to break the rising trend line. Because of this, I decided to close all my remaining position and lock in profits. I could’ve have gotten more, but I don’t feel bad at all. I have broken out of my trading slump and am slowly getting my game face back! Touchdown!

Finally! Thanks to risk aversion spurred by the usual debt contagion fears, the USDCAD zoomed all the way up to my profit target at 1.0700. It seems that the Loonie got badly hit yesterday despite the strong economic reports from Canada.

Wow! What heck has been happening to the Aussie?! It just dropped 700 pips this past week! Looks like I was too conservative on my trade!

Oh Phooey! I missed out on the retracement on the EURUSD! The euro is starting to look like a fur coat in the middle of summer – nobody wants it!

The US Dollar reached an intraday high of 87.21 before pulling back steadily into the latter half of Monday’s New York trading session.

The trade started out great, but it looks like the Euro found temporary relief from panic selling at the start of this week. 1.3950 held as the bottom for EURAUD and it’s been all upside from there. Doh!

Oopsie, there goes my trade idea! I’m not feeling bad at all, because I think it was one of those trades that you risk very little and get paid in spades if it goes your way. Besides, I only put half my usual position size.

Phew, I almost got caught up in a serious fake out! After gapping up to start the week and rising to as high as 1.3096, it almost looked as if the moving averages were going to make a crossover to the top.

The AUD/JPY is poised to test 83.00 once again following buyers being rejected at the resistance waiting between 84.75 and 84.50. The weakness of the AUD/JPY reflects the weakening of the Australian Dollar versus the Japanese Yen.

Matching the weak with the strong. That’s what’s this trade is all about. With that said, I’m looking to buy one of the strongest performing currencies this year, the Loonie, and sell one of the weakest, the euro.

Well, whad’ya know… It looks like I won’t be doing some modifications on the HLHB system just yet! Amidst all the frenzy in the markets, my HLHB system still rocked! Can you say trade of the year?!

It’s really a rare occasion nowadays where a missed trade opportunity really eats at my core….and today happens to be one of those days!! A near 700 point drop in USDJPY? Seriously??

Lesson learned. When risk aversion’s too strong, don’t bet on the EURUSD to retrace as far as the 61.8% Fibonacci retracement level. I completely missed the boat on this one, as the pair hastily fell when the European trading session opened up.

What in the world happened yesterday! Even though price was chilling below the 94.00 price level, I didn’t think it would drop so low to stop my remaining position at 92.20!

Touchdown! I’m back in the game folks! Within hours after touching the 61.8% Fib, the GBPJPY tumbled down all the way to my profit targets. I am glad that I have finally ended my losing streak with this win.

Awwwwwwwwww yeah! Forgive me for being overly ecstatic; I just can’t help it! This is probably my best trade yet. Sorry for the late update but I didn’t expect the EURUSD to drop 300 pips in just two days!

Geez, yesterday wasn’t such a happy one for me since my short USDCAD got triggered then stopped out in just a few hours. Apparently, traders freaked out and sold off higher-yielding currencies when risk aversion came back to haunt the markets.

After a down day in the crude oil and lumber markets, strength in the U.S. Dollar, and an entire session where the Canadian Dollar lost ground against the U.S. Dollar, the USD/CAD seems to have found a near-term intraday top.