Trade Ideas

(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 …