Trade Ideas

Sadly, euro weakness stemming from Greece and Portugal debt concerns hit the news wires waaaay too soon, causing the EURGBP to fall much earlier than I initially expected. Since my trade idea is now invalidated, think it’s time to close any open orders that I have.

The pattern alert on the GBP/USD’s 15-minute chart offers an interesting analysis of current price action, beyond the breakdown of the Channel Down pattern…

And it finally comes to an end. The pair basically just bounced around in 120 pip range, stopping me out at breakeven.

The USD/CAD has broken the Channel Up pattern’s support on the short-term 15-minute intraday time frame. The short time frame indicates near-term weakness…

Good morning Forex friends! Looks like I caught a bit of luck last week as EURUSD crept within two pips of hitting a 1.32 bid before rallying furiously on Friday and bringing me to profitable territory!

The 240-minute NZD/USD broke higher through resistance at 0.7138 – the price at which a breakout buy was triggered on the Triangle pattern’s downtrend line…

I popped up my HLHB charts and I saw a lovely purple candle, indicating a downward crossover… but once again, I couldn’t enter! The 30 pip filter didn’t get hit and I failed to catch that 250 to 300 pip move.

Aww, what a bummer! My short EURUSD trade didn’t get triggered yesterday as the price pulled back until the 38.2% Fibonacci retracement level only.

The intraday EUR/USD has broken the 1.3300 level, making a new 11-month low at 1.3259. (The last time prices traded at these levels: May 1, 2009.) The downtrend has formed a Falling Wedge pattern, with prices continuing to press down and make not only lower lows…

The EUR/JPY has formed a Triangle pattern on the 60-minute chart, with prices squeezed into a narrow trading range between 125.55 and 125.05. The current market support above the 125.00 “big figure” level…

Zzzzz… Movement on the NZDUSD has been putting me to sleep as it’s been stuck in a tight range. I’ve decided to take a small hit and close early because I think my original trade idea may be invalidated.

It looks like a lot of traders picked up the pound when the UK’s annualized inflation rate beat forecast. This was taken by traders as a sign of future rate hikes, which pushed the pound higher.

Do’h. I guess I was a bit too late in playing the range. In hindsight, I should’ve realized that I was going for a fourth bounce…

Good afternoon friends! We saw quite a bit of volatility in Cable since I posted my trade idea as the pair jumped back and forth between 1.54 and 1.55 this week. With the weekend approaching fast, I have decided to close the trade to avoid weekend event risk.

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!