Trade Ideas

Today’s chart is on NZDUSD once again! It’s still in a down trend with a slight retracement, so let’s see if we can get in and grab a few pips! Tomorrow NZD will be releasing its QoQ GDP report at 5:45 pm EST. I expect range trading until the report, but often times traders will …

This pair has been in a serious downtrend. Let’s see if we can partake in the pip party! By the arrow I have drawn you can see that the 0.750 fib extension level and the S1 line are lining up nicely. Also, it’s right at the 0.6200 price level. Price levels ending in double zeros …

Here’s a quick review of my only pick after my break last week. It looks like I underestimated the move of the E-12 CPI report and picked out the wrong resistance point at the R2 line. It’s okay. It’s another important lesson learned on gauging news reports, and I limited the loss to only 20 …

Here’s a one hour chart on EURJPY. Tomorrow morning at approximately 5:00 am EST the E-12 Consumer Price Index report is coming out. I’m looking for support and resistance in the areas pointed out at the chart. On the resistance side I like a sell order at 142.05 with a stop at 142.25. Going for …

The pair moved up to within 2 pips the R1 line and moved down again. I took the entry order off before 8:00 am EST as suggested before the Non-Farm Payroll Report at 8:30 am EST. No trade.

Here’s a daily chart of EURJPY. As I’ve mentioned before, the EUR has been range bound, so I’m looking to do a resistance play. I will enter an order short at approximately 143.50 on the EURJPY with at 50 pip stop and target the top of the middle channel (dotted line). USD/CAD This pair has …

We had 3 trades entered this week. Two winners and one loser. Take a look: Day Pair First Target Second Target Monday NZD/USD +10 +21 Tuesday USD/CHF -30 -30 Wednesday EUR/JPY +10 +10 No suggest 2nd Target Thursday EUR/JPY No trade No trade TOTAL -10 +1 Unfortunately, that 30 pip stop loss killed the profits …

As you can see, after the BoJ statement the pair whipsawed up and then made a move down. The BoJ announced an end to their quantitative easing policy, which could possibly lead to a raise in the interest rates, which hasn’t happened in like a gazillion years(ok, maybe not that long). With an announcement like …

Even after the BoJ announced the end to their quantitative easing policy the EURJPY remained range bound. So we’ll look to do a support/resistance play. If the trade does not hit by 8:00 am EST tomorrow please cancel any entry orders. Short at 141.30 Stop loss at 141.55 First Profit Target at 141.20 Second Profit …

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.