Trade Ideas

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.

Even though the USDCAD rose sharply on Friday because of some poor economic data from Canada, I’ve decided to close my trade. New developments over the weekend have made me change my outlook on the pair.

The 15-minute GBP/USD’s short-term intraday chart indicates that strong near-term resistance is waiting for any bulls thinking about rallying this pair higher through 1.5300 during the coming week.

Make that two weeks in a row that I didn’t get a signal! Price just steadily dropped, probably on all the bad news surrounding the euro zone. Still, I would have expected more of a nose dive considering that THREE euro zone members got downgraded. Maybe there just isn’t enough sellers left in the market?

The AUD/USD has reached an intraday double-top, with prices now exhausting between 0.9288 and 0.9292. This caps what has been a strong two-day rally in the AUD/USD, with the Australian Dollar strengthening against the U.S. Dollar.

Understanding when breakouts and continuations may occur is essential to trading a trending pattern. The market cycle as indicated by Initial Trend reading on the chart alert will indicate whether a continuation or breakout is more likely…

Risk aversion took quite a nice run yesterday, causing the Aussie to fall against the greenback. It turns out that the IMF thinks the Greece needs another €10 billion in bailout funds in order to pull itself out of debt!