Trade Ideas

There are more reasons I have to want to take the 60-minute swing that I have been waiting for this morning, but the main reason I may not get it is PROXIMITY.

You guys are going to LOVE this edition of my Huckdate. In this issue, I’ll show you the first quarter stats of both my HLHB and discretionary trading system. Go on, take a peek… I know you want to.

A like transparency. I want you to be able to see why and how I am taking an entry. Now this is from an earlier swing from this morning on the intraday EUR/USD but the thinking and set up would be the same for any swing short entry.

OH NOOOO!!! What happened over the weekend?! The EURUSD gapped up by almost 100 pips, stopping me out in the process!

Oh dear! The Aussie didn’t pull back as much as I expected it to and it looks like the price missed my entry by two measly pips.

Gosh darn it! I saw one crossover this week, but not all the signals lined up, so I didn’t get triggered!

Buenas noches mis amigos! Looks like the downtrend kicked off during yesterday’s Asia session continued throughout the European and session, pushing USDJPY down to my stop at 93.40 and close out my trade.

Whee! The USDCAD hit parity finally! After holding on to this trade for almost a week, my second profit target at 1.0000 got hit. Yesterday’s downbeat FOMC statement served as a catalyst for the USDCAD to edge lower and hit a low of 0.9989.

Whee! Thanks to the positive US non-farm payrolls report last week, my second profit target on my long USDJPY trade finally got hit.

I’ve got two short videos to share here with you…I thought it would be great weekend “in your robe” seminar. I like to break down the ideas and analysis behind my trades whenever I can so you can see how and why I choose to take a set up.

It’s an early Huck-date for ya’ll because I’ll be taking this week early! It’s Good Friday tomorrow, and banks from other parts of the world will be on holiday.

Despite Ireland’s credit downgrade, traders continued to buy up most of the anti-dollars this week. Looking at the price action for the past couple days, it looks like risk appetite is back on track, ultimately spoiling my Cable short.

Unfortunately, my long EURJPY trade got stopped out at 124.35 yesterday. Prior to that, the price broke above the psychological 125.00 mark only to fall back after credit woes in the euro zone resurfaced.

I didn’t get a new signal from my HLHB mechanical system this week. But don’t get me wrong, I’m not complaining at all! My short EURUSD trade from last week is still open with almost 300 pips in the bag and still going for more. Yipee!

Unfortunately, support at the neckline of the inverted head and shoulders formation and at the 38.2% Fib did not hold. The price punched through them with ease, triggering my stop loss soon afterward.

It looks like I was too aggressive with this one, shorting way too early, and placing my stop too tight. Do’h!

Good evening! UK inflation data came out only slightly below expectations, but it was the CBI Distributive Trades that came in as a big disappointment (13 vs the previous month reading of 23) that pushed Cable lower to my stop out level and beyond.

Luckily, the Canada’s economic reports came in better than expected last Friday. This allowed the USDCAD to fall to a low of 1.0062, hitting my first profit target at 1.0075 along the way.

Yipee! I got a good valid signal on my HLHB system this week and I hope it works out for me. There was a downward EMA crossover while the stochastics were still crawling towards the oversold area.

Those Aussie bulls are really showing their horns eh? I got the direction right but my long entry wasn’t even close to getting triggered!