Trade Ideas

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.

Finally, I found some time to draft up a trading system of my own! Curious? Check it out! I’d love to hear your thoughts!

Welps…it looks like USDCAD was ready to breakout, but to the downside! Positive ISM data from the US brought back the risk bulls out, taking traders away from greenback and moving back to the Loonie.

Short term time frames are an integral part of active intraday traders view as well as a great way to new traders to enter the market will less risk than — for example — a 60 or 240 minute chart. The longer the time frame, the larger to risk/reward ratio. Well, ofcourse, everyone loves more potential profit but not everyone can AFFORD the higher risk that usually comes with it!

Where’s the U.S. Dollar heading next? It depends on your time frame ofcourse. I break my trading charts into 15, 30, 60, 240 minute and daily charts. This means I could be looking at up to five different market cycles across the U.S. Dollar Index at any one time.

Hello traders, you probably don’t know me but I’m the new aspiring trader on the block around here… My name is Hucklekiwi Pip but you can call me Huck.

EURJPY couldn’t find a bid today as sellers came in and pushed the pair lower throughout the three major trading sessions on concerns the economy wouldn’t be able to sustain itself once stimulus is withdrawn.

Good morning Forex fanatics! It looks like I was a bit too conservative in my entry order as traders didn’t want to wait until the market hit the 50% Fib before dropping some sell orders on USDJPY.