Trade Ideas

Good morning! It looks like the resistance that has been working for the past couple of weeks couldn’t hold in today’s session on negative US Dollar comments from the FOMC Meeting Minutes.

Remember that when you’re trading the USD/JPY, the risk appetite/aversion of equities will be a major factor. The current downtrend reflects that the yen continues to rally against the U.S. Dollar.

Good morning! It looks like I couldn’t catch a break on GBPJPY as I missed the initial break of the symmetrical triangle, and now the market failed to make it up to my short entry point at 148.50 on the retracement.

It wasn’t fun to sit through but there was a reason to wait out the pullback into the Wave on the daily chart. In fact there was also a reason to expect a deeper correction as well.

Good morning! Well, it looks like risk aversion moves didn’t follow through as the Dollar sold off and risk assets rally at the open of trading today. Gold is hitting new highs and AUDUSD has pushed up higher, stopping out my remaining position at breakeven.

With the strong uptrend – and “strong” hardly seems enough to describe the trend the aussie has been in – I’ve been swing trading. This means that I wait for a pullback to a key level and buy into it. It’s a funny feeling to buy weakness but remember in a swing trade it’s a correction you’re looking for just as long as the overall trend is int

I got home today from work and found out that my take profit point got hit! I was a little worried at first, because the pair seemed to range for a bit and actually tested the 89.50 price level twice before moving down.

Good evening! I thought I’d end the week by throwing out a trade idea on GBPUSD. The US Dollar rallied on Thursday as a drop in global equities caused a run to the Greenback. Will we see more risk aversion trades into the weekend?

Phew… finally got the chance to back test the HLHB system. With that said, it’s time to make some changes to the HLHB system. Check ’em out!

In my last post I mentioned that… “I’m looking for a bounce to either the 78.6 Fibo or the bottom line of my Wave (red) to short into AS LONG AS THE WAVE MAINTAINS THE MARK DOWN ANGLE.”

I missed out on this USDCAD trade as the price didn’t climb all the way up to 1.0600. Too bad… The 38.2% Fibonacci level held up really well so I have to close my open orders on this one.

If Plan A was to play the soft support bounce in distribution… If Plan B was to play the breakdown if the market flattened out to accumulation then… Plan C is what to do not that the trend resumed the mark down.

The USD/JPY is setting up a a descending triangle on the 240 minute chart as prices have congested within downtrend line resistance and horizontal support. What the set up will be here depends upon the market cycle since there is a horizontal level that could be faded.

Let’s look at one of my five minute “daytrade” set ups from this morning on the cable as the mark down cycle showed prices moving swiftly lower. My goal was to take advantage of a bounce and short into the downtrend.

Good afternoon! There’s a sweet chart pattern forming on GBPJPY signaling that the pair may break out in the near future. Let’s take a look, shall we?

Good morning! Not much movements in the markets since I dropped in orders to go long EURUSD, but we did see the pair dip a bit lower to the 38% Fib area and rally up to the

Short term trading is something that many traders are interested in but to me the main challenge to 1) discourage “overtrading” which by the way means trading without a plan for each and every entry. It’s not a matter of the number of trades, but the quality. The other challenge with short term trading is 2) “cost per trade” and this means factoring in the spread.

How’s it going, everyone? Here’s my USDCHF trade idea based on classical charting. Check it out and let me know what you think!

Good evening friends – here’s an update from my AUDUSD trade last week! It seems like I may have missed by a bit, as I was a little conservative and really wanted to enter at the trend line.

How does TIME effect your trading? This is not just limited to the time you enter the trade, although that is certainly going to impact your trade because of typical pip movement during the time of day and economic events.