Trade Ideas

In last night’s trade we some some volatility after the E-12 CPI report that caused the pair to trigger our long order. Unfortunately, there was strong movement that caused the pair to drop and stop out at a 50 pip loss. Fortunately, I kept the other trade order open! It triggered our short order and …

Tomorrow morning at 5:00 am EST we have the release of the E-12 CPI report. The number is forecasted to be at 2.2% and any number over 2.0% is considered to be above ECB’s “neutral rate” This number will be closely watched and may give insight on whether the ECB will hike rates in May …

First, I’d like to apologize for not being able to have this Pick up on the site at 12:00 am EST. We’ve had some technical issues lately. I did, however, post my pick on some of the well known forex forums, so hopefully some of you caught it there. For those who did, what a …

Yestersday’s pick came within 6 pips of hitting PT1 before it reversed back and made another attempt to drop. I recommended closing all postions at 3 pm EST. I closed at 1.2729 for a gain of 14 pips.

Later tomorrow morning we have the Bank of England releasing the minutes from their meeting approximately 2 weeks earlier. We will be looking for volatility from any surprise insight on future rate moves or an unexpected vote count. Long GBP/USD at 1.7848, stop at 1.7800, PT1 at 1.7888, PT2 at 1.7930 Or Short GBP/USD at …

I hope everyone had a great three day weekend. As we came back from a few days of deserved rest and relaxation, we saw a big a sell off in the US dollar, even with a surprisingly strong TIC number. Amidst this sell off was the lack of European traders in the mix, so we …

Sorry, no charts today due to technical difficulties I won’t have the abilities to post charts up. Until then I won’t be able to do a daily pick, so keep checking back or for those of you signed up for the newsletter, we’ll send you folks an email. Again, I apologize for any inconvenience. On …

Good evening! Sorry it’s a little late! Hopefully we can start out our week right with this one! At 2:00 am EST we have the BOJ releasing its monthly Monetary policy report. This report covers economic developments and serves as an indicator to possible future interest rate moves. As you can see in the chart, …

The Non farm payroll number came out slightly higher than expected at 211K and unemployment rate fell from 4.8% to 4.7%. Also, the February numbers revised down which caused a mixed reaction initially. We then saw the dollar surge after 10 am EST. This caused USDCHF to hit our entry and rise as high as …

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 …