Trade Ideas

USD/CAD has made several attempts to break the 1.1250 price level on the hourly chart, but it looks like a “no go” as we’re seeing a move down in the pair. Now, it may find resistance at the 200 sma, that’s why I’m looking to short with a strong break below it. Tomorrow morning we …

Pipcrawler’s Pick of the Day: USD/CAD USD/CAD has made several attempts to break the 1.1250 price level on the hourly chart, but it looks like a “no go” as we’re seeing a move down in the pair. Now, it may find resistance at the 200 sma, that’s why I’m looking to short with a strong …

After the impulse wave pattern, we saw the corrective waves and a move sharply lower. It was helped by comments from the Bank of Japan Governor Fukui. Fukui stated that “monetary policy decisions should be made early and changes should be made in small increments.” And the market went Yen long on this statement. This …

I’ve been watching this pair for a while, and it seems here we have a nice little example of a currency pair moving in waves. To me, it looks like it has completed its impulse wave pattern and is now in corrective wave pattern mode. Hopefully, we can catch some pips on its way down. …

I’ve been watching this pair for a while, and it seems here we have a nice little example of a currency pair moving in waves. To me, it looks like it has completed its impulse wave pattern and is now in corrective wave pattern mode. Hopefully, we can catch some pips on its way down. …

We saw great numbers out of the US current account and consumer confidence reports on Friday, and that helped our short play on the AUD/USD. Our short play was triggered during the euro session and ended with the pair hitting pt2 a few hours later. We finally see a winning trade after a choppy and …

Monday: -72 pips Tuesday: No trade Wednesday: -60 pips Thursday: +55 pips Total: -77 pips

Man, it’s been a tough week to trade, and yesterday was no different. We saw our short order trigger and stop out during the euro session. I still think this pair is going to break out to the downside, but the question is “when?” I guess we won’t know until it happens. Lot 1: -30 …

This pair has been trending to the downside, but recently we’ve seen a nice run up. This is most likely due to a bounce back in metals in which the Aussie dollar has a strong correlation to, and recent mixed news coming out of the US. Like they always say, “the trend is your friend” …

Since mid May the USD has risen against CHF steadily, and recently we’ve seen a sideways, ranging pattern in the currency pair. There was a strong move to the upside in an attempt to break the range, but it looks like it wasn’t enough. Now, we’re seeing lower highs and lower lows on the 1 …

There wasn’t enough movement to the upside, even after the CPI report, for a trigger of a very a conservative entry point. No trade entered.

After the release of the reports, we saw fast movement in the markets, and a lot of whipsaw action. Our short trade was entered, but soon after, the volatility cause the pair to hit our stop out level. News reports are definitely difficult to trade, and today was no exception. Lot 1: -36 pips Lot …

We are seeing a continued move to the downside in AUD/USD, so in tonight’s pick, we will hopefully catch this move at a great price. It’s looks like the pair is stalling and back in range mode momentarily, but with tomorrow’s CPI data, we may see some volatility as this number has been highly anticipated …

We have a big week for the USD starting with tomorrow morning at 8:30 am EST. US Producer Price Index and Retail Sales will be released tomorrow morning, along with comments from Fed Chairman Bernanke. It’s been all about inflation lately for the Fed, and the numbers we will see tomorrow and Wednesday may help …

Monday: +31 pips Tuesday: +70 pips Wednesday: No Trade Thursday: -60 pips Total: +41 pips

On Friday, we saw the pair trade higher during the euro session and our short trade was triggered. Unfortunately, the pair just going higher and we were stopped out a couple of hours after the trade triggered. Lot 1: -30 pips Lot 2: -30 pips Total: -60 pips P.S. – Don’t forget to check out …

Well, the ECB raised rates 25 basis points to 2.75% and we did not see the highly unlikely raise of 50 basis points that would have caused EUR/USD to hit our entry. After the report was released we saw the dollar gain a lot of ground today, and it moved far, far away from our …

The US dollar has been gaining some ground against the Aussie dollar, so I’ve decided to jump in the downtrend of this pair. The pair has tested the .7400 handle, retraced, and it’s back down again, barely keeping it’s head about that level. Because AUD/USD is in a downtrend I’m looking for a short play …

We saw further correction in the pair last night, and it was enough to trigger our long play at 144.76. Soon after the entry, pt1 was hit, while it took the rest of the trading day for the pair to reach pt2. Good job to those who caught some pips! Lot1: +22 pips Lot2: +48 …

Usually, I don’t ever really touch this currency pair for my “Pick of the Day” because it’s Big Pippin’s thing, but how could I pass up a trade on it with an ECB interest rate decision tomorrow morning! Now all the markets pundits are saying that a 25 basis point rate hike is “guaranteed,” while …