Trade Ideas

Since the US markets are closed this Monday due to President’s Day, I’m just going to review my past week’s activities. I only picked out two trades for the week. I went for just ten pips on both, but I also picked out an aggressive profit target for each pick. Now if you went for …

In my pick from Wednesday I entered at 141.66. I adjusted the entry because the 100 SMA moved. It easily broke through the 100 SMA and hit my initial 10 pip target. In the next candle it hit my aggressive target of 140.70 for a total of +96 pips. USDCHF – The trade didn’t trigger …

This trade idea is still has not hit and entry point. I do not like to hold open positions or entry orders through the weekend, so I will remove the orders at the end of the trading day tomorrow if it has not been hit or close any open positions.

Usually, I don’t like to put trades on before big news reports (actually we recommend against it), but I’ve been watching what happens on those days and it’s pretty interesting. Basically, this is a pivot point play. Pivot points work really well. They’re like magic almost… okay not really. I’ve seen them stop currency pairs …

(Click on chart to enlarge) EURJPY is in a short term down trend, so I’m going to look at a short play. I will short below the 100 SMA and pivot point right below 141.50. Stop above 50 SMA @ 142.37. Going for 10 pips of course, but my aggressive target is going to be …

Unfortunately, the pair made it’s way all the down to my stop before shooting back up! Oh, well… loses are a part of trading, so I have to live with this one!

(Click on chart to enlarge) This trade didn’t work out exactly as planned. It did make a move up to the 200 SMA as planned, it didn’t quite touch(about 3 or 4 pips off), and then it made a move back down to the 100 SMA. I forgot to mention to take the trade off …

(Click on chart to enlarge) The pair is in an uptrend, so I think I’m going to do a basic fib retracement play. As you can see the 38% Fib retracement level is lining up with the day’s pivot point. I am going to go long at 1.2993, with a stop at 1.2959. Ofcourse, I …

I was taking a look at the charts and saw USDCAD, and I said to myself, “Self, let’s go for the same trade one more time!” So that’s what I’m doing again today except with the 200 SMA. I’m shorting USDCAD when it touches 200 SMA, going for 10 pips first, and my aggressive profit …

As you can see the pair hit the 100 SMA and then my initial profit target of 10 pips and then my aggressive target within 2 hours. Not bad.

USDCAD has been in a down trend and has been bouncing down off the 50 SMA along the way. I see the pair making a break up to 100 SMA and then possibly coming back down. So, for this trade I’m just going to have watch and make the trade when it touches the 100 …

(Click on chart to enlarge) The EURJPY is making lower lows on the 1 hour chart. I like a short trade at or below the 50 SMA (142.00). I drew the Fib line to show 3 points of resistance: 50 SMA, 50% Fib line, and the pivot point. Plus the pair is already below the …

First let’s take a look at the chart: As you can see the pair never broke down past the 50 SMA, so a short trade never developed. Now I did make a side that if it broke above the 200 SMA it would probably make a move to the upside. If you played that you …

Check out this chart on the EURJPY: The EURJPY has been trending upwards since it bounced off the 200 SMA on the daily chart. Here on the one hour chart we are going to take advantage of a retracement and continue the ride on up! With fib retracements I usually like to set my entry …

Here’s my pick of the day. Let’s take a look at the hourly chart for NZDUSD: As you can see, with NZDUSD having trouble breaking above the 100 SMA to the upside and the pair in a downtrend, we’re going to look for a short trade. We are looking to go short at 0.6813 with …

Let’s review yesterday’s trade. Well, it looks like AUDUSD hit our entry point of 0.7498. First, the good news. If you were less aggressive and went for 10 pips your profit target would’ve been hit. The bad news, if you’re aggressive like me, is that you would’ve been stopped out at 0.7525. Here’s the chart: …

Today we have a daily chart of the AUDUSD: As you can see the pair is in a downward channel. The top of a channel is a strong resistance point, and with the 200 SMA there as well it looks like the pair is having trouble pushing upwards and may turn downwards. To get ready …

Trade lots in multiples of 2. Recommendations will include entry point, initial stop-loss level, first profit target (PT1) and second profit (PT2). When PT1 is reached, close half of the open position. From here you can do one of two things – move the stop for the other half to breakeven point (this will lock …