MrPSS — Trading Ideas and Scripts

, 30

Long

MrPSS Updated

I'm going long here just above 134 on USDJPY. I failed on two previous attempts around 133.63 (38.2 retracement) and got stopped out with much tighter stops. I still like USDJPY long currently based on a fundamental bias with COT data showing 63% of institutions are long USD and 83% are short JPY. In addition, US GDP and interest rates outweight the JPY. From a...

Short on EURUSD under 1.11 - showing weakness on the daily chart

EURUSD

, 120

Short

MrPSS Updated

I opened this trade on Thursday, March 31st (day before NFP) with a long bias on the dollar, based on the anticipation of continued positive US economic reports and a strong recovery of the US economy and the expectation for additional rate hikes in the months to come. Keeping in mind the possible negative NFP numbers could stop me out for a small risk on this...

Short on the Euro after daily close below 1.1070

EURUSD

, 120

Short

MrPSS Updated

Short on the Euro @ 1.10704 with an initial target of 1.1040. Shows weakness on today's daily inverted hammer close, rejecting the 1.11 level. Drilling down to the shorter time frame of 120 minute, there is additional signs of weakness on the RSI which has re-tested the 40 line. Last, we have a potential double top rejection on the downward channel. Daily...

Short on the pound overnight trade

GBPUSD

, 30

Short

MrPSS Updated

Short on the pound overnight with a Sell stop order that got filled at 1.2458. SL: 1.2488 / TP: 1.2400. The pound recently broke near-term channel support after catching major resistance off the longer-term channel resistance and the 1.2570 level. I posted this one late, after the trade, but still want to log it.

Pound broke short-term support

GBPUSD

, 30

Short

MrPSS Updated

FX:GBPUSD Short GBPUSD at 1.24798, initial target of 1.2457 and stop loss just above recent highs at 1.2503. 30 min chart shows a close below 1.2487 and 1.24833 and traded under this level for the duration of the sessions.