Trade Ideas

We saw a surprise from Canada this past Friday morning as employment numbers came out worse than expected. This caused a rally and triggered our long trade, in which we were narrowly stopped out. Luckily, US dollar strengthening continued and our trade reached full profitability! Lot 1: +20 pips Lot 2: +50 pips Total: +70 …

Monday: -60 pips Tuesday: +80 pips Wednesday: +100 pips Thursday: +70 pips Total: +190 pips It was a great week as we rode US dollar strengthening and breakouts. +190 pips?? Maybe we should just call it a day for the rest of the month, and go somewhere tropical? How about Aruba? Nahhhhh!! Can’t wait for …

Our pretty little chart formation in GBP/USD turned out to be a winner as the retracement proved to be a great time to jump in short. I drew a Fib extension on the chart to show how a pair can react to it, and as you can see the drop responded to the 1.000 level. …

Well, it’s the last trade of the week, and we’ve done pretty well for the week…+120 pips up until this point. Should we take a break and start the weekend early?? Naaaahhhhh =) Well, I see a breakout opportunity forming in the USD/CAD pair. This is obviously due to traders waiting for the Canadian employment …

Well, it looks like we got a winner last night with a continued drop in the GBP/USD on rising inflation concerns in the US and inline numbers out of the UK. Within a few hours, the pair dropped and easily triggered our entry point. Pt1 and pt2 were easily hit for a nice total of …

I couldn’t resist doing another pick on the GBP/USD with such a nice technical setup. Fundamentally, we saw a strong drop in the pair due to inline results from manufacturing and industrial data from the UK, and rising inflation expectations from the US. Of course, we saw a retracement on profit taking after the move, …

As you can see on the chart, it looks like we caught the end of the short term downtrend, and the trade went against us for a -30 pip stop loss. I still like a longer term short on EUR/JPY- maybe weeks or months – but for the Pick of the Days, we’ll stick to …

After a strong move in GBP/USD for the last day or so, the pair is now in consolidation mode – it’s now trading in a 20 pip range, approximately. Now traders are potentially waiting for the numbers out of the UK at 4:30 am EST, and in these types of situations I like to play …

Last week I had a short play on EUR/JPY that didn’t pan out too well. In hindsight, it was definitely a good idea to go short, but on a longer term basis with a wider stop. So, we’re going to jump back into this pair, hoping we’re getting in at the beginning of a larger …

Aug 1 – Aug 3 +165 pips Aug 8 – Aug 11 -65 pips Aug 15 – Aug 18 +10 pips Aug 22 – Aug 25 +37 pips Aug 29 – Aug 31 -20 pips Total August: +127 pips

In my last pick, we saw the euro quickly rise against the yen, and there was no stopping it! Our short trade was triggered, and we were so close to pt1, but the pair reversed and continued its long term trend. We got closed out at a loss of -20 pips per lot. Grrr!! Lot …

Tomorrow we have the US Non-Farm Payroll report coming out. I usually do give a pick for that trade with a strong warning against trading that report…now I’m just not going to trade it. The market right after that report moves way too fast to get any kind of acceptable execution, even with entry orders. …

pt1, but narrowly missed pt2 before it rose back up and our second lot we closed at break even. There wasn’t much going on in the pair as German Consumer Confidence came in as expected, so we were pretty lucky to catch a little unexpected volatility in the session. Congrats! Lot 1: +20 pips Lot …

After the weak US consumer confidence number and concerns from the FOMC on the housing market, traders sold of the dollar and piled into the euro. We watched today as the euro rose in value in all of its crosses, but is the short-term move exhausted? I think so, and maybe we can catch a …

The loonie made a fabulous run against the euro in the past few weeks, but in the last few days we’ve seen a correction and weekness in the Canadian dollar. Is it just a correction before a continued drop in the pair, or is it a sign of what’s happening with weak commodities and Canadian …

Monday: -18 pips Tuesday: +75 pips Wednesday: +20 pips Thursday: -40 pips Total: +37 pips It was a little bit of a frustrating week as there weren’t many market moving reports and traders are still unsure on what to do with the greenback.We still managed to grab 37 pips out of the markets…Not bad!This week …

Our AUD/USD trade went against us at the beginning of Friday’s euro session as the pair dropped and found no support at the .7600 level.After the stop out, I continued to watch the pair and notice that the previous support levels are now turning into resistance levels.We may see a new short term downtrend forming, …

As expected, EUR/CAD continued its downtrend, but was interrupted by the German Ifo Business Climate Index numbers. The market was expecting much worse due to the terrible ZEW report earlier this week, but the Index number came out as expected at 105.0 – good for the euro, bad for our trade. Our second lot was …

The AUD/USD has been in range mode for the past few days, making directional trades difficult. Regardless, I still like a long trade on the pair for a few reasons – Stronger commodity prices, much stronger housing numbers our of Australia, and a mixed US dollar as traders await hints from the Fed of future …

I still like a short play on USD/CAD as it seems to drift lower on the one hour chart. Oil prices are back on the rise with geopolitical issues out of the Middle East, which is helping the pair drift lower. I drew a fib extension to help me find possible levels of support and …