Trade Ideas

Good afternoon! My remaining position in Cable closed at 1.4620 for a profit during yesterday’s return to positive sentiment towards global growth.

Wow! What a wild week eh!? Just when I thought that risk aversion was going to make most traders buy up the dollar, what do I see as the week comes to a close? The dollar has lost against most majors! What is going on?!

Do’h! Instead of dropping like a rock, the pair actually broke up top and rallied towards 76.50!

Oh great, I made a mistake on my trade and it proved costly! After being up 80 pips on my second position, I ended up getting stopped out!

Unfortunately, Cable found some serious sellers on the 38.2% Fibonacci retracement level and dropped like a rock last Friday.

Thanks to my 30-pip filter, I was saved from, not just one, but TWO losing trades. Phew! Last Friday, an upward crossover took place but I wasn’t able to get a trade signal for two reasons…

Yikes! My trade only went my way 30 pips, but was a good thing I moved my stop to my entry point! I would have stopped out if I didn’t play it tight!

Doh! The CADJPY did break out… But to the bottom! Looks like risk aversion remains king of the FX markets!

Gosh, I wasn’t able to profit from that sharp dive in the EURUSD since I didn’t get the go signal from my !

Ouch! This trade marked my second loss in a row. What did I do wrong? Did I set my stop too tight? Did I go in too early?

Doh! Looks like the 0.8400 handle was just out of reach as price bounced off a former low. Nevertheless a win’s a win!

Throughout Thursday’s U.S. trading session, momentum in the USD/JPY was key to confirming the rally in equities…

For traders who have been watching the trio of intraday lows along 1.2141 (S1), 1.2143 (S2), and 1.2175 (S3) on the EUR/USD, the wait may be over:..

Eww! It looks like the range broke and the pair just fell to the 0.8100 handle. Needless to say, I missed the move downwards.

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!