GBPNZD has been on my radar for weeks and actually MONTHS! I've been waiting for this pair to start showing upward momentum and start pushing higher, it has given us a favorite chart pattern... a bull flag! ENTRY: I'm looking at 1.7700 area, there are fibs and flag support there, I would like to buy dips with short term trend line confirmation (1 hour trend line...
the EURUSD has cratered for the last few weeks and I'm left wondering what may happen as we approach 13 year lows on this pair. 1.0470 (give or take a few pips) is the lowest level since 2003, anytime I see a double bottom happen with nothing nearer than 13 years prior I get curious and I can tell you I'm curious. EURUSD could be headed into MASSIVE lows, I'm...
Yesterday we had a GBPJPY trade that went well, we were looking for 100 pips, it went about 70 before turning aroud, still not a bad run. Now looking closely at 136.75, this is a nice short term decision point for this pair, a break either direction could be good for 50-100 pips. See the chart for details. As far as stops, a broker lower and I'll have my stop...
Pretty simple, we have a rising wedge, great breakout levels and some clear targets. I want to sell the break of 135.60, stops should be above highs (136.60 area) with a target of 134.20. I know I said 100 pips above but really this should be a 140 pip trade if it works with us a little. That's it... any questions? Leave a comment below.
This is a favorite trade of mine, it's done on a short term chart (15 minute) and the beauty of it is we use some trend line to confirm entry, if we don't get the break we don't take the trade. This one is coming up on overbought so watch for a short term trend line break and a move back down towards 108.00. Stops are flexible, I usually add to this trade if it...
We have a GREAT pattern on a daily chart, this has been long awaited! We have some GBP volatility coming with the Dec 7th vote in the UK pertaining to Brexit, but we have nearly a month to tackle this trade. ENTRY: two things, first get a daily close a above the descending trend line. Also I'd like to see 1.6550 break, then I'll buy pull backs with short term...
Of course I don't want to be in anything before the US elections, the JPY pairs will probably move a fair bit US election results. But this is a clean wonderful set up! Here's how I'm planning on trading this. 80.00 was my buy level, it got a bit choppy right there so I stayed out, I want to enter as close to 80.00 as possible after the election. I'll stay in...
I know no one wants to touch GBP pairs with a 10 foot pole but I think we might finally be in good territory for jumping into some GBP strength. Here's what I think we could start with... 1. The flash crash high has held very nicely on this pair, it looks like a short term top for now 2. There's a long term trend line that gets re-tested over and over again...
Being more of a currency trader and less of a stock trader, the question of what do you see here is sincere. Here's what I see: 1. A massive rising wedge (reversal pattern) 2. Two well established levels, 17,050 and 15,350 3. There are some monster fib levels down below as well. I don't know what all this means but I think we can see some big arguments...
This is a short term bullish head and shoulders pattern, it's clean and working well, there's plenty of time for entry and the move up into 114.50 area. Stops should be below the right shoulder, target at 114.50 and entries around 113.90/114.00 Let's make some pips. Done. Period.
The dollar index is showing some short term signs of correction/bearish movement. We see a rising wedge and 3 consecutive missed weekly pivot points, that's a pretty big deal. I'm not trading DXY but I am trading USDJPY, EURUSD and USDCHF so this chart will dictate some future positioning on those pairs. If DXY moves down to at least 98.40 area that could...
USDCHF has done NOTHING for a long time and now it looks like it's almost ready for something kind of big. We have a great longer term pattern setting up there and we're looking for opportunities to buy dips when/if this pair retests the break out area. Here are a few scenarios: 1. buy dips around .9800-30, stops down around 9600, target 1.0300 (max...
If you haven't been trading NZDCAD, you've missed out on some great pips/trades/profits/rides to the bank whilst laughing/etc! This pair can be abusive, as long as you go into it knowing that everything is mucho easier! OK here's what I'm doing AGAIN on this pair, I've been shorting it from 9650, in and out several times. This recent retracement has pulled...
I've been discussing selling EURUSD for some time now, it keeps pulling back small and selling off bigger. There's assortment of pivots that make it look like a trend is starting to pick up momentum. Draghi's comments today had some pretty serious mixed reactions for euro pairs, the overall takeaway was, we're probably going to sell the curly hair out of the...
USDCAD looks ready for a buy potentially. The BOC talked about stimulus today, the cad got clobbered. Oil isn't looking very supportive of a massive CAD move towards weakness but 100-300 pips doesn't look out of the question. Simple trade, buying trend line break, locking in profit along the way, seeing where things go from there.
USDJPY is definitely a pair I want to be long and buy every opportunity. However the mixed movement with USD pairs makes this a possible sell trade for the short term while we wait to buy dips. All jpy pairs look like better buys than sells but I would consider shorting this down to the weekly pivot for 100 pips. If you're not feeling aggressive, wait for dips...
NZDCAD has been Christmas time, it just keeps giving up pips and pips. If you're not in yet or you've been in and out, here's another chance to grab a quick 100 pips. It's pretty easy, we have a bear flag, we want to sell the break and target big support at 9300. If this pair can pull back towards the missed daily pivot we can get some nice entries short...
USDCHF (chart posted yesterday), DXY and EURUSD are all lining up very well and confirming one another. Here is the big "what if" and of course it's related to another central bank being central banky! Yellen speaks wednesday, expect plenty of USD volatility... PLENTY! IF these USD pairs can hold trend lines and support then we should be ready for some big...