Trade Ideas

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 …

As suspected, we saw dollar buying at the beginning of the euro session open. Shortly after the open there was a strong reversal, but not enough to hit our stop loss level. Dollar buying resumed and we saw pt1 hit, and then we closed our position at 5 pm EST. Hopefully, everyone caught some pips! …

We see the euro trending higher against the yen in the past few weeks on the back of positive economic reports out of the euro zone. The pair has hit the top of the channel drawn, so I’m looking to enter long with the trend with a retracement down at the bottom of the middle …

We have a pretty good looking chart on NZD/USD tonight. As you can see on the left of the chart, there was a pretty strong move in favor of the US dollar against the New Zealand dollar. I drew a Fibonacci retracement and it looks like the pair retraced back to the 61% fib line …

Monday: No trade Tuesday: No trade Wednesday: +67 pips Thursday: No trade TOTAL: +67 pips

The Non-Farm Payroll report came worse than expected….way worse! The number of jobs created was a very low 75K, way below the consensus of 170K. It seems the US economy seems to be slowing down which is bad news for the US dollar. The market is now going to be on the lookout for the …

Tomorrow morning we have one of the most volatile, market moving reports in the U.S. Non-Farm Payroll report. It is a very dangerous report to play and I recommend to take the trading day off since we’re up +67 pips for the week. For those of you who still want to trade I recommend waiting …

We saw strong movements after the early morning E-12 reports, but not enough to enter our trade levels. This pair has been in range trading mode for a couple of days, and I would suspect it will continue that way through the end of the week. No trade.

From the consolidation, we see a breakout during the euro trading session. A strong move downward triggered our short trade, and within the next five hours we reach full profit potential. Hopefully, everyone caught some pips! Short trade entered: Lot 1: +20 pips Lot 2: +47 pips Total: +67 pips

As I stated a couple picks earlier, I would keep an eye for a short trade on this pair. It looks like it’s going to close below the trendline drawn. It has also made a few attempts to break the 144.44 price level, but no luck. EUR/JPY has already started another move down, so now …

GBP/USD went into range mode this evening after the strong move due to U.S. Treasury Secretary Snow leaving his position. Traders are sitting on the sidelines waiting for a catalyst now and hopefully we can find one with the GfK Consumer Confidence report later. It’s consensus number is inline with the previous at -4, so …

It looks like EUR/JPY found support at the 50 sma and 100 sma, and broke previous highs with a strong move during the beginning of the euro session. I’m going to keep an eye on this pair for a move short still. On the daily chart the pair is trading sideways at the top of …

The Euro has made a nice run up in the last few weeks against many pairs, not just the dollar. It looks like this run has been exhausted on the hourly chart as I have pointed out a head and shoulders pattern. You can even pick out a double top on the right side of …

It seems in the last few days this pair has been stuck in a range between the 23% and 32% Fibonacci area. It looks like the correction may be exhausted and a continuation of a bullish run up may be in store for the Aussie. No trade was entered from this recommendation, but I will …

After the open of the US trading session we saw a big drop in the pair which hit the bottom of the channel shown. We entered long at S2 line and saw a quick rise to hit our pt2. Unfortunately, the pair rose so fast it hit our long order and it trended for the …

For those of you who have checked out my signals blog, you already know that I’m heading to Europe for a little bit of rest and relaxation. So, today’s pick is actually a “Pick of the Week.” This is a little bit longer term trade idea to hold it down until the end of next …

As you can see by the chart we saw some volatility push the pair down to hit my short trigger and then bounce back up. Doh!!! Seems like I know how to pick reversal points, eh? Well, today was another loss. Hopefully we will do better with the next pick! Lot 1: -40 pips Lot …

We have seen the Euro rise against the dollar lately, but against the Yen it has been drifting lower and lower. Now we have potential volatility with the E-12 CPI coming out at 5:00 am EST. With the trend on the 1 hour chart going down, I’m looking for a short trade when it hits …