Trade Ideas

As I stated a couple picks earlier, I would keep an eye for a short trade on this pair. It looks like it’s going to close below the trendline drawn. It has also made a few attempts to break the 144.44 price level, but no luck. EUR/JPY has already started another move down, so now …

GBP/USD went into range mode this evening after the strong move due to U.S. Treasury Secretary Snow leaving his position. Traders are sitting on the sidelines waiting for a catalyst now and hopefully we can find one with the GfK Consumer Confidence report later. It’s consensus number is inline with the previous at -4, so …

It looks like EUR/JPY found support at the 50 sma and 100 sma, and broke previous highs with a strong move during the beginning of the euro session. I’m going to keep an eye on this pair for a move short still. On the daily chart the pair is trading sideways at the top of …

The Euro has made a nice run up in the last few weeks against many pairs, not just the dollar. It looks like this run has been exhausted on the hourly chart as I have pointed out a head and shoulders pattern. You can even pick out a double top on the right side of …

It seems in the last few days this pair has been stuck in a range between the 23% and 32% Fibonacci area. It looks like the correction may be exhausted and a continuation of a bullish run up may be in store for the Aussie. No trade was entered from this recommendation, but I will …

After the open of the US trading session we saw a big drop in the pair which hit the bottom of the channel shown. We entered long at S2 line and saw a quick rise to hit our pt2. Unfortunately, the pair rose so fast it hit our long order and it trended for the …

For those of you who have checked out my signals blog, you already know that I’m heading to Europe for a little bit of rest and relaxation. So, today’s pick is actually a “Pick of the Week.” This is a little bit longer term trade idea to hold it down until the end of next …

As you can see by the chart we saw some volatility push the pair down to hit my short trigger and then bounce back up. Doh!!! Seems like I know how to pick reversal points, eh? Well, today was another loss. Hopefully we will do better with the next pick! Lot 1: -40 pips Lot …

We have seen the Euro rise against the dollar lately, but against the Yen it has been drifting lower and lower. Now we have potential volatility with the E-12 CPI coming out at 5:00 am EST. With the trend on the 1 hour chart going down, I’m looking for a short trade when it hits …

We have the UK CPI(m/m) coming out at 4:30 am EST. This is the monthly measure of inflation experienced by consumers. The consensus number is around 0.6% versus the previous number of 0.2%. Any surprise in this news report should cause high volatility in this pair, and hopefully we can capitalize on that. Cable is …

Terrible. Monday -70 pips Tuesday -28 Trade Wednesday -78 pips Thursday No trade Total: -176 pips

Sorry to say that I had another losing day in the markets. In last nights pick we saw volatility push the pair down, and then shoot back up! This seems to be the theme this past week with my picks. I’ve been a pro at picking reversal points. Haha. So, that short trade idea stopped …

Even the best of traders have their slumps (not to say I’m anywhere near the best). Look at Barry Bonds. So what does a trader do to combat a losing streak……Stop Trading! And that’s what I’m going to do. It’s been a rough week, not just for myself, but for a lot of traders I …

In tonight’s pick I’m looking for the Japanese Yen to strengthen against the Euro. We have seen Asian currencies rally against the majors in the past few trading days. Especially the Yen, as traders are positioning for a possible rate hike out of the BoJ. The pair has been in a down trend on the …

We saw the pair make a strong move right before the US trading session and our long trade was triggered at .7764. After entry, the market did not move much as traders waited for the FOMC interest rate statement at 2:15 pm EST. As expected, we saw volatility after the report as the pair dropped …

Well, I made a major error with last nights pick… I admit it. I went with the fundamentals and ignored technical analysis. I saw a pullback in commodities and a short term rise in the strength of the dollar and went against the trend. I thought there would be a correction and I was wrong. …

I’m looking at the Aussie dollar again for a few reasons. Mainly, commodities did a turn around after a few days of weakness, and with economists urging the Chinese government to increase gold reserves, we may see the recent highs of gold to continue. So, with gold and the Aussie dollar moving almost in sync …

It was pretty tough to find a pick tonight, as there is a lack of reports being released. Well, we’ve seen the Australian dollar make a magnificent run up in the past month, but in the past few days we’ve seen consolidation. Maybe it’s time for a correction… We saw a pull back in commodities …

Well, we had a pretty good week. Hope everyone caught some pips with me! Good luck trading this week. Monday +105 pips Tuesday No Trade Wednesday -68 pips Thursday -40 pips Total: -3 pips

As stated in my recommendation, I waited until 7:00 am EST before I tried to enter my orders. Unfortunately, I could not get my limit orders at the levels recommended, so I waited until after the report to enter the market. The report was release at 8:30 am EST. The employment reported an increase of …