Trade Ideas

Bahh, looks like I got faked out! I was right on the initial move, but price reversed later in the day and stuck within a tight range!

Things are looking bearish for the Aussie right now so I changed my mind about this trade idea. Besides, AUDUSD already rallied far away from the entry area I’m looking at.

Argh! Despite all those signals lining up, the CHF bulls we’re just too strong! USDCHF tanked like the Last Airbender and I took a hit!

Since the daily chart is strong, that bullish sentiment will be reflected by traders buying into the intraday pullback in expectation of a continuation of the uptrend. The market direction on the 30-minute chart is a narrow-ranging accumulation cycle, as confirmed by the one-bar Initial Trend reading.

It’s very likely that the intraday USD/CHF has found a sideways range to trade within as the Asian session approaches. The current market cycles on the 15, 3, and even 60-minute time frames indicate that the small move lower during today’s trading session leveled the short-term time frames out as the 240-minute and daily charts remain range-bound.

A combination of better than expected European Bank stress test results on Friday and today’s better than expected US New Home Sales brought risk tolerance back to the markets at the start of this trading week. This meant a broad US Dollar sell off and a rally in EURUSD.

When things were finally going my way and when I was up about 70 pips, I decided to move my stop to breakeven + 1 and eliminate any risk. The EU stress tests results were coming out, and I just didn’t want to leave my trade to chance.

Success! Yep, you heard me! Thanks to my stochastics filter my HLHB system, I was able to avoid a major fakeout.

Hmm, it looks like USDCAD did breakout… but to the downside! Despite Canada’s weaker than expected retail sales figures, the Loonie managed to catch some gains as risk appetite took over the markets.

It turns out I was right in predicting that EURJPY would drop like a rock. Check out that slide all the way down to the 110.00 mark! Unfortunately, I missed this boat since the price didn’t climb all the way up to my entry at 113.30.

With the mark up cycle still intact, the 15-minute USD/CHF is weakening once again as prices test the 1.0550 level. This is the second, arguably the third such test in as many days…

Kaboom! I guess I should have closed this one earlier! I held on a bit too long and I paid dearly for it as GBJPY dropped like Lebron James popularity last Friday!

Ugh! Risk aversion turned out to be the theme last Friday, which made Happy Pip a very very sad girl. Yes, yes, I know, referring to myself in the third person won’t help!

Looks like I got a win from my trade that triggered a couple weeks back! Read all about it in today’s Huckdate!

Phew! I was able to avoid a big loss on my account! Thank goodness I was watching the charts and the news when the European session kicked off.

After moving lower withing the Falling Wedge pattern and reaching support the support target along 1.4948. The GBP/USD has rallied and broken the resistance at 1.5085 and is currently looking for footing above the “00” major psychological level.

As expected, UK CPI data brought in volatility to Cable, eventually pushing the pair higher to my entry level. Unfortunately, weak US data and and positive corporate earnings sparks a demand for “risk” at the beginning of the US trading session.

So much for my trade idea. EURGBP, after breaking out of its descending channel, was slowly bought up by the bulls. Needless to say, my trade stopped out eventually. Boo!

Woooohooooo! Finally – a valid signal! Thank you HLHB system for giving Huckie her bucks!

Hmm, it looks like GBPUSD is ranging now, which means I need to cancel my open orders. The pair seems to have found some serious support at 1.5100 and probably won’t go as low as my entry at 1.5000.