Trade Ideas

Our first profit target was hit yesterday, where we closed half of our position and moved our stop to break even on our remaining position. We did not get to see a

Our trade closed out at the end of last week as the Aussie found support into the weekend. Unfortunately, we were short on the pair so we took a hit at the end of the day.

To close out the week, tonight’s chart couldn’t get any simpler. No Fibonacci, no mathematical indicators – just short at the resistance line!

It looks like volatility took EUR/JPY as high as about 162.95, just below our entry orders, before sellers jumped in and bought some Yen in early US trading.

After retracing from last week’s downtrend, it appears the move lower may resume after finding resistance at 104.00.

We held our short position over the weekend, and it looks like we came close to our second profit target, but as the European trading session open, Cable caught fire higher on

Our short position on EUR/JPY closed earlier today as the pair hit our second profit target at 160.00 during the Asia trading session.

Let’s take another look at USD/CAD as it has fallen back to parity and possibly a reversal point from the down trend.

It’s pretty that price action is telling us that the broken resistance did not turn to support. So, our trade idea did not work out and it’s time to close it down and move on.

Our short USD/CAD idea looks like it panned out well…almost. The pair did find resistance and fell lower, but unfortunately it found sellers below our entry price around 1.0240 before falling lower.

Well, it looks like another case of “right on the analysis, but wrong on the entry” as our short position missed being trigger by about 10 pips.

Cable fell during the morning European trading session , most notably the UK CBI trade data and mortgage data.

Our trade was triggered, and after a rollercoaster ride through unrealized loss, then profit, and now back to loss, it appears there aren’t enough buyers at the trendline to support our long play.

Our patience has paid off today during the morning European trading session as the Euro continued to sell off against the British Pound.

Our short position was entered quickly after our post and it looks like we caught a break as there was a broad based US Dollar rally throughout the Euro/US overlap.

Our hopes for a “buy the rumor, sell the news” didn’t pan out for the AUD/USD as the pair boosted higher, rather than selling off on profit taking just after the release of Australian CPI yesterday.

It seems the market has reached a bit of indecision, to no surprise as we approach the Bank of Canada’s interest rate decision tomorrow. Expectations are for a

Well, we’ve waited a bit on this trade idea, but it looks like the pair won’t hit our short entry at 1.6210 any time soon. It’s a new week, so I’ve decided to

Euro bulls have been beating on the 1.59 door and it looks like they have broken through on the back of this morning.

We caught a few pips on half a position last night as EUR/CAD rallied during the morning European trading session, even after