Trade Ideas

Looks like we’re off to a good start. Let’s hope we can keep it going!

Final pip count for January…

Consumer confidence was released with a reading of 96.9, below the consensus of about 98.0. We also got the Factory Orders number coming in at 2.4% versus the consensus of 1.9%. So, mixed numbers at 10:00 am EST, which means we probably won’t see much movement for the rest of the day.

As expected, Dollar sentiment continued to be bullish in USD/JPY, but instead of retracing after the strong move down to 120.50, it continue south as low as 120.10. We just saw the ISM Manufacturing Index numbers out at 49.3, which was expected after all of the regional surveys came out lower than expected as well.

Final January pip total…

Our short term trade was stopped out at a loss as our position was whipsawed after today’s slew of economic reports. Again, another frustrating trade as we watched the pair go back into our direction and nearly reaching full profitability.

Our half position in GBPUSD was stopped out at -40 pips as we just saw weaker Chicago PMI numbers at 48.8 versus consensus of 52.0 and weaker monthly construction spending at -0.4%. This was another tough loss since we were actually up approximately

It’s been a snoozer of a day for USD/CHF as the pair remained in a 40 pip range since the beginning of the Euro session. Consumer Confidence report came out pretty much inline at 110.3 versus the consensus of 110.0 So, basically no surprise, which means no volatility. We will

Tonight we will be “Cross-Eyeing” CAD/JPY as we recently saw a weak Retail sales number out of Japan a few hours earlier. Japan’s economic data has been weak as of late, and today’s number won’t help much. We’ve also seen oil prices rise recently as

We just saw the release of the Dec. Durable Goods report with a solid number at +3.1%. November’s number was revised up to +2.2%. The Dollar got a little boost from the news and our trade, which entered during the morning Euro trading session, hit pt1 and half of our position was closed locking in +20 pips.

With all of the significant data for the Dollar and Euro having been released today, it doesn’t look like traders are excited about neither of these currencies. Again, we saw a slightly weaker German Ifo Business Climate Index number and

This morning, we watched Cable get a beat down as traders sold off their long GBP positions when BoE Governer King suggested that the rate hikes may end and that news came out that the vote for a January rate hike was only 5-4 in favor. I think this may be an over reaction by traders and

We hit profitability last night as the Greenback gained broad strength against the majors during the morning Euro trading session. Both profit targets were easily hit for a total of +70 pips, even before we saw

As expected, currencies broke out of their trading rangegs today and we managed to catch a reversal with today’s trade. As soon as EUR/JPY hit pt1 the pair shot back up and triggered our break even stop. So, we have locked in 20 pips with half a position and…

The Loonie unexpectedly sold off against the majors today. I can’t seem to find the reasoning for the sell off at the moment, but whatever the case may be our trade was stopped out for a small -40 pips. Again, price action earlier alerted us to…

Half of our position triggered long this morning at 156.70. Pt1 was hit for +20 pips. Because we only got in with half position i decided to treat it as a full position and closed our open trade at pt1. For those who are still in the position, you are currently up +40 pips. I would move

As expected, USD/JPY did rally after the Bank of Japan decided to keep rates at 0.25%. Unfortunately for our trade, the pair didn’t find resistance right at our stop, around 121.40. It looks like the fundamental aspect outweighed the technical aspect of the trade and…

Our trade was triggered this morning as AUDUSD retraced as expected. US data came out this morning with the headline PPI number higher than expected at 0.9% and the core number slightly higher at 0.2%. The TIC data came out at a net $68.4 billion. Pretty good number, but way lower than the forecasts at roughly $82.5 billion. Also, the index of industrial production came out higher than expected at 0.4%. So …

Our trade triggered approximately 8:30 am EST this morning, but it looks like the pair has found resistance at 237.00. UK CPI reports came out better than expected, which appearantly did nothing to help our trade. Because price action isn’t what I was expecting…

Our trade triggered in the early US hours, and after weathering some whipsaw action, pt1 was hit! We closed the first half of our position and locked in +30 pips, then moved the stop on the second half of our trade to breakeven. The second half of our position…