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Currencytrading

Buying dips- looking for 300-500 pipsUSDCHF 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 target). 2. buy breaks of .9900 with the option of adding to the position as low as .9800, still targeting 1.0300 highs
Long
by JaredJJohnson
Stop NOT Trading This Pair!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 back, almost to the pip, 61.8%. I'm ready for one of two things: 1. sell the break of .9465 2. sell the secondary channel if it forms below the current ascending trend line. STOPS are above .9575, a break above there will likely move an add'l 85+ pips into the next major resistance, no thanks. TARGET .9300
Short
by JaredJJohnson
Sell the @#$% out of this break out level!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 EURUSD! 1.0910 was Brexit low for this pair, now we're right back to retest that area, a break below here looks great! Here's what I'm going to be doing: sell break of 1.0910 targeting 1.0700 and 1.0650 stops- moves back above 1.0950 will make me look for small losses and reassessing the set up.
Short
by JaredJJohnson
5
This could swing either way- 50-100 pips should be easyUSDJPY 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 and buy any pull backs looking for longer upper targets at 107.50.
by JaredJJohnson
Selling pull backs, quick 100 pips comingNZDCAD 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 hopefully up around 9400 area. See the chart for details, make some pips and have a happy Thursday/Friday!
Short
by JaredJJohnson
3 things to watch side by side, 500-1000 pips is the goal here!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 moves. USDCHF and closing above the daily trend line is important. 9835 will be easy for the daily candle to clear, 9885 (previous high) could be a little bit of a challenging level, FOMC will tell us more. DXY 97.50 is important, watch the daily candle for a close above and then the FOMC, that's an important level, plus we're closing outside of the wedge and looking very bullish. EURUSD 1.1125/00 was easily taken out, next stop looks to be 1.0900 so if that goes we should have an easy run of 150 pips and then another 200 pips into 1.0700. In summary, all three of these need to be watched side by side and if FOMC minutes don't mess everything up we should see steady movement across the three pairs into some nice profit.
by JaredJJohnson
One of the most important charts for currency traders!Whether you trade oil or not, this is a must watch! Any currency impacted by oil movement (think CAD, NOK, USD) this is a must watch chart. If oil starts to break out and confirms this head and shoulders, we may see the black gold get back into the mid 60's. I know what you're thinking, "there's an oil glut etc etc etc" I don't care and I'm not looking at that, this is a purely technical outlook. If this head and shoulders confirms, we may see this as the result in the near future. So be ready for what may be setting up. And if you do trade oil, jump on this!
TVC:USOIL
by JaredJJohnson
Head and shoulders in the works, quick 60-80 pips!Worse case scenario hopefully this is just a channel break and there's a trade to be had at the break of the channel. However I would love to see one more small leg of confirmation and see if this can turn into a head and shoulders pattern. I want to see 60-80 pips of profit, I'll short at the break of the trend line/quasi-neckline. .8525 is a great short term target/area to move stops into profit. Speaking of stops, initial entry should have stops above the recent highs.
Short
by JaredJJohnson
CRIKEY! We have a long AND/OR short setting up here!AUDUSD was kind enough to give me 50 pips a few days ago, I don't trade this pair too often but I'm getting more interested in this because of a multi-year channel we have to work with. If this pair break up or down we have a long way to go to to the bottom of this 4 year old channel. If it break up we have nothing but smooth sailing to the upside. I've marked the symmetry levels for the nearest term targets if we see break outs, there could be a lot more to come beyond that but at least that looks good to start the party.
by JaredJJohnson
Wedge and head and shoulders, this might be ready to ROCK!GBPCHF, along with so many other GBP pairs, looks like it might be ready for something big. The head and shoulders pattern on the 4 hour chart has a price projection of 700-800 pip ((laughing all the way to the bank)) and we have a falling wedge (the blue trend lines). There is a lot of bullish patterns in the works here, I'm ready for GBPCHF to starting moving up. An entry at the break of the falling wedge could start the party, then adding to it at the break of the neckline would be great as well. I'll update you all as this trade develops and I take an entry.
Long
by JaredJJohnson
2