Trade Ideas

The momentum for this pair is currently in a downtrend, so we’ll look to short at a good price. Canada GDP comes out at 8:30 am EST tomorrow so please cancel order if the trade has not triggered. If the trade has triggered, close the trade at 8:00 am EST. I’m looking to short at …

I saw the candle close below the 200 SMA so I entered short at 1.3042. US GDP (Q4) came out at 8:30 am EST. Caused the dollar to go up, and then traders sold off the pair to easily hit my target of 1.3000. +42 pips!

Another loss on this trade recommendation. Luckily it’s only 14 pips. After looking back on the trade, I over look a very important thing and realized why it didn’t work. The Fed rate decision didn’t come out until 2:15 pm EST, which is after the European trading session is closed. So, European traders didn’t get …

It looks like the pair had a tough time breaking and move above the 100 SMA. I’m looking for a short play on USD/CHF if the pair breaks below and candle close 200 SMA. I’m targeting the 1.3000 price level, with a stop at 1.3125.

This pair moved strongly, and hit my entry and stop in one candle bar. Lost 32 pips. Ouch! Hopefully we’ll have better luck on the next trade!

Since there aren’t any news reports I thought I’d look for a resistance play in USD/CAD. I drew the fib extension lines to see where the pair was going and possibly make a reversal. 61% fib line is usually a pretty good reversal point, plus it’s right about the R1 line. So I’m going to …

This pair continues in a downtrend, so let’s see if we can find an entry point. On this chart I’ve drawn Fibonacci retracement and extensions. As you can see we have some levels lining up with each other along with some of the pivot point levels. Good areas to watch for reversals and/or breakouts. So, …

This past week I had 3 intraday recommendations and I closed out one long term trade recommendation. My first NZD/USD trade idea did not enter, but on my second recommendation NZD/USD fit my entry criteria. Unfortunately, I had a pretty small stop loss of 20 pips which my trade hit before shooting down in my …

AUD/USD Pair has hit the bottom of the channel for a total of 157 pips. Exited trade. NZD/USD Well, the pair moved down as expected and made my entry criteria. Now depending on where you got in and your brokers’ prices you may have gotten stopped out with the 20 pips stop. If you didn’t …

Kinda tough to pick out a trade tonight, especially with a lack of news reports, but I think I found one. If the loonie decides to head south I will enter a trade short at 1.1630. I will have a 20 pips stop at 1.1650. My first profit target is going to be 1.1590. Once …

EUR/JPY Didn’t hit entry point. No longer watching this trade. NZD/USD No candle close below the fib line. No Trade. USD/CAD The loonie made a big run from the entry point of about 95 pips. Hopefully, those who took the trade had a trailing stop and took some profit as it came 5 pips from …

Today’s chart is on NZDUSD once again! It’s still in a down trend with a slight retracement, so let’s see if we can get in and grab a few pips! Tomorrow NZD will be releasing its QoQ GDP report at 5:45 pm EST. I expect range trading until the report, but often times traders will …

This pair has been in a serious downtrend. Let’s see if we can partake in the pip party! By the arrow I have drawn you can see that the 0.750 fib extension level and the S1 line are lining up nicely. Also, it’s right at the 0.6200 price level. Price levels ending in double zeros …

Here’s a quick review of my only pick after my break last week. It looks like I underestimated the move of the E-12 CPI report and picked out the wrong resistance point at the R2 line. It’s okay. It’s another important lesson learned on gauging news reports, and I limited the loss to only 20 …

Here’s a one hour chart on EURJPY. Tomorrow morning at approximately 5:00 am EST the E-12 Consumer Price Index report is coming out. I’m looking for support and resistance in the areas pointed out at the chart. On the resistance side I like a sell order at 142.05 with a stop at 142.25. Going for …

The pair moved up to within 2 pips the R1 line and moved down again. I took the entry order off before 8:00 am EST as suggested before the Non-Farm Payroll Report at 8:30 am EST. No trade.

Here’s a daily chart of EURJPY. As I’ve mentioned before, the EUR has been range bound, so I’m looking to do a resistance play. I will enter an order short at approximately 143.50 on the EURJPY with at 50 pip stop and target the top of the middle channel (dotted line). USD/CAD This pair has …

We had 3 trades entered this week. Two winners and one loser. Take a look: Day Pair First Target Second Target Monday NZD/USD +10 +21 Tuesday USD/CHF -30 -30 Wednesday EUR/JPY +10 +10 No suggest 2nd Target Thursday EUR/JPY No trade No trade TOTAL -10 +1 Unfortunately, that 30 pip stop loss killed the profits …

As you can see, after the BoJ statement the pair whipsawed up and then made a move down. The BoJ announced an end to their quantitative easing policy, which could possibly lead to a raise in the interest rates, which hasn’t happened in like a gazillion years(ok, maybe not that long). With an announcement like …

Even after the BoJ announced the end to their quantitative easing policy the EURJPY remained range bound. So we’ll look to do a support/resistance play. If the trade does not hit by 8:00 am EST tomorrow please cancel any entry orders. Short at 141.30 Stop loss at 141.55 First Profit Target at 141.20 Second Profit …