Trade Ideas

Our last trade idea was triggered shortly after I posted, and we saw a stong rally in the pair from the 61.8% Fibonacci level. Too bad we had only a 25 pip target, because that thing shot up! So, we did well for the week and a look forward to a bounty of inflation data this week from various countries.

Here’s just a quick review on this trade. Our bullish outlook was correct at the time and our order to enter short was triggered during the early morning asian trading session. Cable picked up steam through out the morning Euro session and our position was

The second half of our open short position reached the adjusted profit target at 1.1460 during the late morning Euro session. This offsets the small hit we took with the first half position and we came out with a small gain of +10 pips.

Hello 🙂 I hope everyone had a wonderfully, long weekend! With metals on a tear on demand from China and traders flocking to gold for inflation protection, going long in AUD/USD looks to be a great play after a retracement.

It looks like traders and speculators are changing their minds and placing bets that the ECB will actually raise rates this week from 3.75%. Our shorts were entered and we saw some pip collecting, but we met resistence and gave it all back as broad based Euro buying commenced during the Euro session.

Our trade panned out well today as Canadian employment data came out better than expected with new jobs rising by 54.9k versus the forecast of 12.0k. This sent lead to some Loonie buying in the early morning and our short position was

The markets are quiet ahead of the Bank of England Interest Rate decision and the Easter holiday, so it doesn’t look like we have any trading opportunities at the moment. I’d like to take this bit of down time to introduce the newest team member, Cyclopip! Here’s his story:

Hello everyone! Looks like it has been a wild ride for our AUD/USD position as we saw the RBA keep rates at 6.25% last night. This sent AUD/USD down to trigger our long orders at .8100. Unfortunately, the sell of on the news triggered a stop out on half of our position, but

Just a quick stop adjustment on our open USD/CHF position that was left open from Tuesday. We have ISM services coming up in a few minutes, so we will adjust our stop from 1.2240 to

Tonight we will look at CAD/JPY. We’ve seen a few factors today that may push the pair down to a great buying price to jump in the “Return of the Carry Trade” bonanza we’re seeing today. The bull run in oil took a breather today as tensions in Iran eased as

It looks like fundamentals beat out technicals in our trade today as the bullish dollar sentiment pushed USD/CHF higher and higher through our resistance levels. With consumer data all stronger than expected as well as a strong Chicago PMI number out this morning, we should see the

It looks like the pair failed to follow through the downward spike from earlier this week and stay range bound for the last 2 days. The third portion of our trade was stopped out for additional +10 pips on a spike up during the morning Euro session yesterday.

Our remaining short position reached as low as 1.6150 before reversing back up to our readjust stop at breakeven. This pair has moved within this 50 point range and may continue to do so for the rest of the week with the lack of significant data for the Euro.

With Durable Goods Orders coming out weaker than expected, the momentum to the downside looks very strong in USD/JPY. We were triggered on both long orders already, so I will close all open positions to avoid the risk of further selling

Good Morning! Hope everyone had a great weekend! Tonight we will take a look at GBP/USD. Yesterday we saw the US New Home Sales numbers came out weaker than expected at 0.85M versus the forecast of 0.99M. This further enforces the

March Pip Count…

I thought I’d start sharing my thoughts and promote books that I think would be great for newbies to check out. I’d like to kick off this new feature by sharing a book I picked up today by Rob Booker called

Good morning! We’re about to see US Existing Home Sales report released at 10:00 am EST, with a consensus of about 6.260 million. We saw a rise in January and December, but because of the colder weather some parts of the country experienced in February I think we will

No pick tonight. Nothing is really jumping out at me now as far as chart setups. I will take a look again later today ahead of the US Existing Home Sales report and hopefully we can find something good. Stay tuned!

We have a nice little forming on the 4 hour chart for USD/JPY with upward resistance at 118.00. Even with the decline in the Greenback today, I agree with the price action and see this pair rising in the medium term. With the Bank of Japan holding off on interest rate hikes, carry trade interest should continue to resume.