Trade Ideas

The 50.0% Fibonacci and the trend line held pretty nicely, as the pair bounced higher and I was able to ride the intra-day trend. Unfortunately for me, the move wasn’t sustained, topping out near the 83.00 handle.

Yes! I finally caught a break! Things worked out perfectly for me, as the pair bounced from the top of the channel and proceed to shoot down.

Argh – it looks like euro bulls bounced back last week! Off with their heads!!!

D’oh! The bearish pennant chart pattern I’ve been watching with my one good eye indeed broke out last week… but to the upside! Needless to say, my short entry order failed to trigger when the pair rallied upside.

This week was a pretty hectic one, with a bunch of central bank rate decisions and the highly-anticipated US non-farm payrolls report. Just like the American Idol hopefuls, most majors bounced back from their dismal performance last week and attempted to finish stronger this week – some succeeded, others didn’t.

Oh great… The Kiwi didn’t retrace back to the 0.7000 handle so I missed out on my trade!

The GBP/USD has been consolidating across the 15 and 30 minute charts as the longer term 240 minute and daily charts are in strong mark down cycles. The longer term charts while tempting because of their strong trends are going to take some time to correct enough for me to get interesting in a swing trade short.

Darn! Looks like I got stopped out on the remaining position on my NZDUSD trade. Oh well, at least overall I won on the trade.

Good afternoon forex fanatics! It looks like I missed out again, as the entry on my trade was just above Cable’s high point on Friday and I wasn’t triggered before the drop.

One pip. Yep, one pip away from hitting my profit target. In retrospect, I should not have let my trade run like that, especially since price has already bounced from the previous week’s low. Could’ve, would’ve, should’ve. Ah, well, at least I walk away with some profit.

I got left behind on this trade, as the yen rallied early in the Asian session yesterday. I can’t even say that I was close to being triggered, as the pair only went as high as 35 pips away from my entry point.

Even though I still had an open trade from last week, I had to exit that one because a new crossover formed during the first part of this week. The EMAs made an upward crossover but the stochastics were already in the overbought region, meaning I could not enter long. I thank the forex gods for that!

I got seriously burned on this one as the Loonie managed to bust out of its range late into the European trading session session. 😐

Don’t you just hate it when your trade idea was right but you just couldn’t get triggered?

The 30 minute EUR/USD has formed an Ascending Triangle. This pattern is also referred to as an asymmetrical pattern since one level is horizontal — in this case the resistance. The horizontal level opens up some potential alternatives to the common momentum set up that is most commonly associated with triangle patterns of any typ

Good morning to all you Asia session traders and welcome back to another fabulous week of FX trading! It looks like my trade triggered and moved my way, but it looks like I couldn’t get a big enough move on this trade. Check it!

Yipee! I caught a winning signal on my mechanical system this week! In fact, there were a couple of crossovers but thanks to that 30-pip filter, I was shielded from suffering a fake-out.

Prices have found not only a continuation of the U.S. Dollar strength today but continues to do so despite equities buying. The breakout through the triangle pattern on the 30 minute chart show’s that the 81.00 was not a level that seller’s were willing to step in at. The key to any breakout is whether or not buyers will support prices when prices pull back.

Unfortunately, price was unable to retrace back to my desired entry point. In retrospect, I should have gone long on the break of the bullish flag for a quick day trade.

Whee! A breakout on the EURUSD! But, unfortunately, the pair broke out to the topside, opposite of what I was expecting. 😐