Last week I talked about this rising wedge, it flexed it's muscles and we have to expand the wedge a bit, but it's all still very much intact and I'm super anxious to get into this trade short. Specifically for EURUSD there's ECB news on Thursday and Trump on Friday, sooooo.... I'm looking for end of week to trade this pattern. Ideally I'd like to see: ENTRY:...
OK so Trump, or whoever, caused the markets to go HOG wild this morning, which is cool! We had some nice pips on EURUSD and the first target was hit so that's fine. This might seem like a long shot, and maybe it is, but we could see the start of a larger pattern forming here. Here's what I'm looking for: The completion of a rising wedge, it's dependent on...
I might be alone here but I can't imagine going anything other shorting EURUSD, any squeezes higher should be nice entries to sell the rallies. There's a lot of fundamental reasons behind why I think the EURO is headed down in a major way, blog posts coming on that, for the mean time google it! ;) To be clear, I want to short any confirmation that it's headed...
I'll keep this short and sweet, I can't see too many other scenarios to be long EURUSD much earlier than parity (even then I think I still want to be short). Anyway, Massive resistance sits around 1.0500 and we have a monthly pivot up at 1.0580, I will be looking for any reason imaginable to sell this pair at those levels, I'll probably start small at 1.0500 and...
I like to keep these trade ideas simple, here are the areas of entry, where I want to take profit. If you want to know mow about how I came to this conclusion, leave a comment below. I'm looking for two areas to short GBPUSD: ENTRY: sell retracement at 1.2530-70 area OR sell break of low at 1.2365 STOPS: if the lower entry gets filled, my stops will be above...
USDCHF has failed many times around the 1.0200/1.0300 area and maybe now it's ready to go. So far the USD has been beat up to start the week but it could also just be a nice chance to buy some dips and get long again this pair. I'm looking at these entry details: BUY: as always looking for trend line breaks to confirm the buy, but liking 1.0130/40 area to start...
audusd has been oh soooo choppy BUT it has maintained structure this entire time, which is amazing. We have a clean and clear retest of a larger break out, there is a nice secondary channel created here and I want to sell the break out in the worst kind of way. Entry details: I will sell this pair after it clears the trend line and gives us a little retest...
NZD has been reluctant to move lower but it might finally be ready if we get confirmation here The details: short below ascending trend line stops above recent highs target lows of 0.6970 area and ultimately 6740 area
I feel like a broken record, I talk about 100 pip trades all day long, the funny thing is 100 pips is hard for some people to make, if you're one of those people then bask in this set up! THE DETAILS: 1) this could pull back now or lower around the 1.0035 area, either way be ready to short that pull back at/around 1.0060-80 area 2) I'll have stops above 1.0150,...
I have not been very excited to be short USD lately, I've been riding the trend along with everyone else, here are some reasons I'm looking to trade USD weakness on EURUSD. 1. the 13 year lows around 1.0500 have held very well 2. Short term charts are showing higher lows 3. we're approaching a solid trend line So if there is an hourly open above the trend line,...
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...