Trade Ideas

USD/CAD has been ranging between 1.1300 and 1.100, and it looks like it’s in a downward trend at the moment. After today’s US interest rate hike the pair made a strong move downward and I believe we may see a continuation of that move during the euro session. I’m thinking one of two scenarios may …

The Fed raised rates from 5.00% to 5.25%, and as expected with a 25 bps raised the dollar fell. Within the hour GBP/USD gained almost 200 pips, but to be honest I stayed out of the trade due to the fact that the pair drifted farther and farther away from our long entry point at …

We had a profitable trade today as EUR/JPY bounced back up as soon as it hit our entry point at 145.70. In just a couple of hours we saw it hit pt1 for +20 pips, while we had to wait until 5 pm EST to close lot 2 for +52 pips. Congrats to those went …

Please read entire post! Tomorrow is a big day as traders have been anticipating the FOMC rate decision for what seems like forever now. We’ve seen much debate in the media (from economists, market pundits, traders, etc.) and quite frankly, it’s still up in the air on what will happen tomorrow. Market consensus is calling …

Without any significant economic reports tomorrow, I had to look for a purely technical play. Because of the lack of reports, I expect low volatility and range trading, but I think I’ve found a nice play in EUR/JPY. We’ve been watching the euro rising again and I think with a correction we can jump into …

For those of you who have been watching NZD/USD, you’ve seen a considerable drop in this pair, and now that it’s broken the previous daily low of 0.6141 we should see a further decline. Today’s new home sales report was a surprise of 1.23 million new homes, in which the market was expecting a decline. …

For those of you who have been watching NZD/USD, you’ve seen a considerable drop in this pair, and now that it’s broken the previous daily low of 0.6141 we should see a further decline. Today’s new home sales report was a surprise of 1.23 million new homes, in which the market was expecting a decline. …

Monday: +66 pips Tuesday: +80 pips Wednesday: No trade posted Thursday: No trade triggered Total: +146 pips

At the open of the euro session on Friday, US dollar buying continued, and the pair never made its way down to our sell entry point. No trade entered. Hope everyone is having is a great weekend!

At the open of the Euro trading session we saw the US dollar rally against all the majors as traders look for a safe haven from the North Korea missile situation. So, the question now is, “is this rally done?” Well, we have the US Durable Goods report coming out tomorrow morning at 8:30 am …

Well, the market was forecasting weak retail numbers out of Canada, and of course, the Canadians showed the market how wrong it was! We had a trade prepared for great numbers, and it looks like we capitalized by gaining +80 pips! Lot 1: +15 pips Lot 2: +65 pips Total: +80 pips

I’ve been reading news reports and looking at charts all day and to be honest, there really isn’t a trade jumping out at me. It’s been a range bound week for many pairs with the lack of significant economic reports and I think tomorrow is probably going to be the slowest day of the week. …

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 …