Trade Ideas

It was all about the GDP reports on Friday as we saw little movement before the report. As expected, GDP numbers came out lower and the US Dollar sold off quickly. Our long trade was triggered, and within an hour after entering the position we hit full profitability. What a great way to end the week!

We watched the Greenback take a beating all last week as US data has been showing that the US economy is not as strong as we all thought, and that further weakness is expected. We pretty much rode USD down the whole week, and with the exception of our Wednesday trade, hit profitability every day.

Apparently, the negative US economic news today wasn’t enough to strengthen the loonie against the US Dollar. With consumer price inflation dropping, we may be seeing a slowdown in growth for Canada. Is this a sign of what’s to come from the great run the Loonie has had against the Greenback? Only time will tell, …

Tomorrow morning at 4:30 am EST, we have the Bank of England Meeting Minutes being released. The housing sector in the UK looks to still be on a rise, in which will play heavily in to future rate decisions from the Bank of England. So, what will the language and tone sound like in tomorrow’s …

We saw the euro sell off across the board at the beginning of the Euro trading session, and the sell off only accelerated as the Eurozone CPI report came out as expected at 0.2% and the Trade Balance was reported at 1.5B, lower than expected. So, our short trade triggered and hit both profit targets …

Monday: -5 pips Tuesday: -40 pips Wednesday: No Trade Thursday: +80 pips Total: +35 pips Like last week, we started off slow, but managed to get a win or two and positive pips for the week. This upcoming week looks exciting as we have oil and gold prices currently declining, and major economic reports for …

What a boring day in USD/JPY!! While we saw some action in the majors, nothing too major about this pair as it stayed in a 40 pip range. It was pretty much expected with the major events coming up this weekend, but I thought it would at least continue to drift lower. Well, I am …

We have quite a few US economic reports rolling out tomorrow – most notably the US Consumer Price Index reports. I decided to avoid all of that because of the extreme volatility that is potentially created by that report. With inflation being one of the main themes in the US, I believe a lot of …

Well, it looks like Prime Minister Blair may have been misquoted when saying that employment data would come out slightly worse today – it unexpectedly came out better! Unemployment claims were actually down unexpectedly, show signs of strength in the economy. So, the short story is no short trade as expected, but our long trade …

Greetings fellow traders! Tonight’s pick is a simple one is that we’re just going to jump into a short-term, fundamental based trend in USD/JPY. The yen has been creeping higher in value due to speculation that the Chinese will loosen their firm grip on their currency, the yuan. So, with the Japanese Yen being the …

Well, the US trade balance grew to a whopping $68 billion…eh, who cares? Apparently, currency traders don’t! There was a little bit of whipsaw action that brought our short trade to inches from pt1…well, depending on your broker (my account never reached…grrr!)…and we were stopped out. But the good news is that the Greenback strengthened …

We have a battle going in this pair and it’s between the strength of the US Dollar caused by “inflation concerned”/”oil weakening”, versus the “inflation concerned” strength of the Pound. Now, the Greenback has been strengthening across the board this past week, but Cable kicked butt this morning as CPI and RPI came out higher …

It’s rare that we get to see Elliot wave theory played out so perfectly in the markets, so I had no choice but to make this pair my “Pick of the Day” when I saw it. As you can see on the chart, the US dollar has been making steady gains against the Swiss Franc. …

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 …