Trade Ideas

Alright kiddies. Today’s pick really isn’t a set it and forget it trade. Tonight the Bank of Japan is coming out with the Interest Rate Statement 11:00 pm EST. Now for those of you who watch our morning analysis know we stay away from the market during big news events. I think only the most …

The pair triggered my short entry order at 1.3086. Unfortunately, my 30 pips stop wasn’t enough space for it to move before it went back down. So, it’s 30 pips down whether you went for the first profit target or the second profit target.

This trade ended up pretty well. Our first profit target was hit and then 2 hours later the aggressive profit target was hit. Congrats on those who took this trade and made some pips.

No major economic news coming out tomorrow for the US dollar or the swissy, so this a straight technical play. If the pair moves up go long for 10 pips at 1.3205 with a 30 pips stop. For those who want more pips, move the stop to breakeven after 10 pips are made and go …

This is a pure technical play since there aren’t any major news coming out for the NZDUSD until Wednesday. If the pair manages to make it up all the way to the 38% fib line then it could possibly make it’s way back up to the pivot point. I will buy NZDUSD at 0.6574 and …

We had 3 trades entered this week. I always go for just 10 pips, but I also have aggressive targets for those looking for more. So, in my review I post if 10 pips were hit, then what happens if you were going for the second target instead (assuming you were asleep and didn’t move …

I pulled up the 10 min chart to show the price action on this pick. Basically, after the short trade was triggered my target of 10 pips was hit 30 minutes later and then went back up. For all those who took the aggressive target and didn’t move your stop, you would have been stopped …

On this chart I see a strong move to the downside, so I drew a fib retracement line to see where the pair may possibly go. As you can see the 50 SMA, Pivot point, and 38% fib line are all lining up perfectly indicating a very strong resistance point. I will enter short here …

Today’s pick will be on the EURJPY again, but this time a little trickier. I drew a fib line on the 4hr chart and as you can see we have a couple of resistance points lining up; most notably the 61.8% fib and the S1 line. In the morning we have the E-12 PPI and …

The were no breaks of the SMA’s or pivot areas, so no trades entered on yesterdays pick.

In yesterday’s pick the pair broke to the upside and easily hit 10 pips and the aggressive target of the R2 line at .7407. I hope everyone did well on this one.

Today’s pick on the EURJPY. We have several economic reports coming out of the E-12 region and today’s entries should take advantage of any breakouts from any surprise news reports. I will go long with a break and candle close above the R2 line and 100 SMA. Going for 10 pips as usual and my …

Today’s pick is a basic pivot play. I have this feeling the pair is going to run up to the SMA’s and then move back down, but to be safe I will wait for a break of the S1 line to enter. So, wait for a break and a candle close of at least 5 …

We had two open trades during the week. One winner and one loser. Now it would have been two winners, but I was a little too tight on the EURJPY stop recommendation. It’s okay though. We made a plan and followed it which makes them both successful trades. So for the week I’m down -19 …

A strong move in the morning hours had this pair easily break the moving averages and hit 10 pips. If you were more aggressive you could have possibly hit 60 – 70 pips easily on this trade.

Today’s pick is a basic play. We have the NZDUSD downtrending. It’s a chart we’ve all seen plenty of times. Sometimes there’s a break to the upside to the 200 SMA then reversal, but this time I think it will go down from the 100 SMA. So with a break of the pivot and 50 …

Today’s pick is on the good ol’ swissy… I like a short play on the pair but here’s a setup if it goes in either direction. If makes a strong move up I will probably enter long with a candle close above the 76.4% fib retracement line. I will place my stop at about the …

Well, it looks like the pair made a strong move to the downside, but my stop recommendation was a little too close for the volatility after the E-12 Current account news release. If you had a wider stop loss set than I did, then I hope you made a lot of pips on this one.

Today pick is on the EURJPY. Pretty simple really, going long with a break and candle close above the R1 line. Going for 10 pips, targeting R2 as an aggressive target, and stop at 141.59. Looking for a short play with a break and candle close below the 50 SMA. Place stop 10 pips above …

Today’s idea is based on the possible volatility of USDCHF after the Trade Report which is coming out tonight at 2:15 am EST (1915 GMT). At the moment the pair is trading above the 200 SMA and below the 100 SMA and 50 SMA. I use them as support and resistance areas, so if there …