PipsTradingClub

PipsTradingClub

Here is another Forex Trading Snack. A Friend on twitter said it like this. “With everything the FED has done plus the fiscal stimulus package one would think that markets will stabilize first, then soar.” Bellehos I agree, In stead we hit a bottom and started in a V shape Stock market recovery. The reason IMO as well as many others is leverage. It is an...

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Another Forex Trading Snack. From my original posting of the short opportunity that I saw in USDNOK, my tactics have always been in building a position up to take advantage of my longer term bias for the pair. The market will do what’s its going to do and all we can do is catch a ride if we can. Newer traders might just catch a great entry point but only get...

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Impulsive moves are what we are looking for. Right? I mean those are the moves that have the biggest bang for the trading risk buck! However looking around the charts sometimes you just run into a move that has already happened. Sad, but it’s true all to often. Opportunity could just be hiding in plain sight though. This is when I look for a EW ( Elliott Wave )...

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Another Forex Trading Snack. AUDJPY on my weekly chart it shows an interesting point in price action. Sitting just below a multi year trend line ( a trend line going back to 2018 ) this down slopping pink trend line should provide a cap in price. Usually price action taking a crack at a multi year line doesn’t break through on the first try. My bias is to set...

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Another Forex Trading Snack! I know! It’s been lagging the moves of the S&P stock index when it’s been a great risk on or risk off dance partner. Where has the partnership gone? This 109.70 resistance zone has held price from advancing when stocks have been screaming higher throughout the Christmas rally. I don’t believe in straight line moves move on for ever!...

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Here is another Forex Trading Snack. From our breakout trade more then a week ago I’m still holding onto my very bullish bias. It has pulled back to its longer term flag top pattern ( indicated by the horizontal red line ) a shorter term bullish battle zone with the lower 1500 round number being the bullish OH crap zone!! This is a free ride trade for the idea...

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Another Forex Trading Snack! The EUR has been trapped inside of a multi year wedge pattern ( indicated by the blue trend lines ) but once it broke out of this pattern it’s bias in my opinion is to the long side. Also recently the DXY index has formed a wedge like shorter term pattern and the exact inverse pattern of the DXY is the gray trend lines indicated on...

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I’m often asked about gap trading after I post up a gap trade setup. Usually the question is, “ what is my strategy in trading gaps?”, or “What is gap trading?” Back in June 28-30 this gap happened in spot gold. ( the pink circle) it’s a good example of gap trading from real charts not text book examples. Well first of all, not all gaps are created...

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Welcome to another Forex Trading Snack. NZDCAD looks good for a possible EW ( Elliott Wave ) 5 wave pattern on the hourly or the 2 hour and also in the 4 hour charts. Sometimes patterns are much more clear on a certain timeframe, but at times like this, it fairly clear in multiple times. Friday trade was wild with NFP news and price action that followed. Yet...

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It’s not all that often I get to post up a scalping plan. So here is another Forex Trading Snack! EURUSD broke above it channel it had been running in for about a week and one-half. Although it seems tired a bit for today. It’s still grinding higher. Although I can count a EW 5 wave in the 15M I would suspect pullbacks to be bought the closer we get to...

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If you have been trading GBP pairs you’ve know all about the tape bombs or headline whiplash moves. It’s hard to get in a trade when a headline can just drop or jump by 100 or more pips regardless of technical setups. But we’ve somewhat known the with Brexit and any of the possibilities there of, things were going to get volatility rolling. So here is another...

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Well to say the least Friday’s move was a surprise. I mean back to back multiple hundred pip moves, WOW! The market is never wrong! So yes, why not such a moving pattern? Why not another day or two like the last. It’s all possible. Well here is how I took the challenge. And here is another Forex Trading Snack. Just because you lose a trade and take a losses,...

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You’ve all head the story of the Bulls, bears , and pigs..., you’ve herd that one before I’m sure! Bulls make money! Bears make money! But pigs get slaughtered!! Here is another Forex Trading Snack. GBPJPY along with I think every GBP pair ripped higher today in the markets. Good news on the Brexit front, or just good rumors to spark traders into positioning...

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To say trading Forex / currencies can be frustrating, is an understatement. To be a good trader, we must shake it off and get busy searching for high probability trades worthy of risking our risk capital. So here is another Forex Trading Snack. Earlier ( what I mean is a few days ago ) I pointed out a nice EW ( Elliott Wave ) 5 wave pattern developing in my...

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Another Forex Trading Snack. I’ve been following the USDCAD for sometime looking and waiting for a great opportunity to possibly trade it. But for some time it hasn’t followed oil, or the other commodity currencies. Currently though it has made a very good looking bullish Flag pattern inside of a bigger triangle, which happens to be inside of a even bigger...

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GBPJPY is offering up a nice looking EW 5 wave setup pattern. From current levels it could, if it plays out deliver 50-80 pips with a well defined stop loss. The small pink line is my choice to play should price break down. With stops around the 131.00 round number. My orders are stop sell orders on this one. My reasoning for this kind of order is simply this... I...

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Here is another Forex Trading Snack NZDUSD fell below the 2015 low ( indicated by the black horizontal line) but bounced just as quickly back above. Thus tells me that that level might be of interest of larger position holders. What makes this very interesting is the weekly candles. Moving back to the shorter 4H charts I saw this inverted Head & Shoulders...

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Well the blue top channel trend line held once again on this pair. It is a weekly channel top trend and until it’s broken and held the path of least resistance is higher. Add into the mix traders, and thus the market is looking forward and wanting something positive out of the Trump China trade war front. With meetings at the end of this week 10-11-13-19 I can...