Trade Ideas

Well, we had a pretty good week. Hope everyone caught some pips with me! Good luck trading this week. Monday +20 pips Tuesday -40 pips Wednesday +9 pips Thursday +50 pips Total: +39 pips

Well, Big Ben spoke and the market listened. After he commented on a possible rate pause in the near term we saw a sell off in the dollar. This triggered our order, and unfortunately we caught the last leg of the move. Our position never PT1 and so I closed the trade out at 5:00 …

We have US quarterly GDP coming out tomorrow at 8:30 am EST. Today’s pick will hopefully capture some pips off the potential volatility of this report. Now the consensus number is at 4.9% which is a lot higher than the previous number at 1.7%. Obviously if the number is lower than expected we will see …

Today’s pick is based on general fundamentals and the trend. We all know the loonie and other “commodity” currencies have been on a tear against the US dollar. Even with oil slightly pulling back from record highs, we still saw the loonie gain some ground against the greenback. Along with commodities, we see interest rate …

Well, we had our first big losing day in April…hopefully it won’t be a recurring thing! As expected, UK GDP came out as expected at 0.6%. We saw a move in the pair and it triggered our short entry. The position was up as much as 20 pips before it reversed and stopped us out. …

Cable has been stuck in a range for the past ten days which means that traders are waiting for something to move the pair. Hopefully, UK GDP will be the catalyst for a strong move and break the pair out of the range. At 4:30 am EST, UK first quarter GDP will be release with …

We saw the Bank of Canada raise rates as expected. Traders sold off the pair which caused our entry order to hit. PT1 was hit within the hour, so we moved the stop to break even on the second half of our position. Unfortunately, the second half of our position stopped out at breakeven and …

Welcome back to another wonderful week of forex trading! Hopefully, we can catch some pips this week and continue the streak. Here is today’s pick: Well, the US dollar has been beaten up across all currencies for the past, including the loonie. Today’s pick is in hope that we will see continued weakness in the …

As you can see from the chart the loonie made a strong move which triggered our trade and within the next hour hit PT1. Closed out one half of the position and moved stop to breakeven for the other half. Unfortunately, the other half was stopped out within the next fews hours. We netted 17 …

Well, we had a pretty good week. Hope everyone caught some pips with me! Good luck trading this week. Monday +14 pips Tuesday +82 pips Wednesday -7 pips Thursday +17 pips Total: +106 pips

The loonie has been on a nice run against the dollar, and I think with the pull back it is a nice time to go with the trend and rising commodity prices! Short USD/CAD at 1.1377, stop at 1.1429, PT1 at1.1360, PT2 at 1.1320 Remember to close half of position when the first profit target …

In last night’s trade we some some volatility after the E-12 CPI report that caused the pair to trigger our long order. Unfortunately, there was strong movement that caused the pair to drop and stop out at a 50 pip loss. Fortunately, I kept the other trade order open! It triggered our short order and …

Tomorrow morning at 5:00 am EST we have the release of the E-12 CPI report. The number is forecasted to be at 2.2% and any number over 2.0% is considered to be above ECB’s “neutral rate” This number will be closely watched and may give insight on whether the ECB will hike rates in May …

First, I’d like to apologize for not being able to have this Pick up on the site at 12:00 am EST. We’ve had some technical issues lately. I did, however, post my pick on some of the well known forex forums, so hopefully some of you caught it there. For those who did, what a …

Yestersday’s pick came within 6 pips of hitting PT1 before it reversed back and made another attempt to drop. I recommended closing all postions at 3 pm EST. I closed at 1.2729 for a gain of 14 pips.

Later tomorrow morning we have the Bank of England releasing the minutes from their meeting approximately 2 weeks earlier. We will be looking for volatility from any surprise insight on future rate moves or an unexpected vote count. Long GBP/USD at 1.7848, stop at 1.7800, PT1 at 1.7888, PT2 at 1.7930 Or Short GBP/USD at …

I hope everyone had a great three day weekend. As we came back from a few days of deserved rest and relaxation, we saw a big a sell off in the US dollar, even with a surprisingly strong TIC number. Amidst this sell off was the lack of European traders in the mix, so we …

Sorry, no charts today due to technical difficulties I won’t have the abilities to post charts up. Until then I won’t be able to do a daily pick, so keep checking back or for those of you signed up for the newsletter, we’ll send you folks an email. Again, I apologize for any inconvenience. On …

Good evening! Sorry it’s a little late! Hopefully we can start out our week right with this one! At 2:00 am EST we have the BOJ releasing its monthly Monetary policy report. This report covers economic developments and serves as an indicator to possible future interest rate moves. As you can see in the chart, …

The Non farm payroll number came out slightly higher than expected at 211K and unemployment rate fell from 4.8% to 4.7%. Also, the February numbers revised down which caused a mixed reaction initially. We then saw the dollar surge after 10 am EST. This caused USDCHF to hit our entry and rise as high as …