Trade Ideas

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 …

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 …