Archives for April 2013

Beautiful moves in the majors as we begin our abbreviated trading week.   There was very little economic news in the session and the USD began to weaken with the US traders.  All the majors moved well but the EUR offered the best entry.

It’s been a while since I’ve needed Target 3, but it came in handy as price exceeded our Target 2 with considerable strength.  This move was clearly visible with a tool that we use ( not shown here), which is used by a number of extremely large institutional traders and hedge fund managers.  When one can get in behind them and ride a currency pair close to their targets, while protecting profits along the way, a very rewarding trade is realized.

I love it when the month ends strong!

Good luck with your trading!

Nice to see positive economic numbers for the UK and US this session.  However, the US traders decided to push the EUR down to the Big Figure – 1.3000 once their news was out of the way.  We patiently waited for an entry short and were rewarded.  Some days you wait for hours and nothing seems to happen, other days once you enter the hours tick by with nothing happening, and then some days you are rewarded right away.  It’s been a slow week, but it picked up today with our targets finally being hit.

Good luck with your trading!

Let’s hope for another nice move to end the week.

Back tomorrow if we find a trade.

Slow tedious trading.  After a very active week last week, so far this week has been slow.  The AUD had difficulty rising above the Asian session high, which was also yesterday’s high.  Once it began to roll over, we entered and hoped that we would be able to get to at least the Asian session low.  This was not the case!
As the US traders began their day, the pair found sellers at the Asian session high each time it attempted to get above.  We end up closing the trade at the UK close for 20 pips.

Let’s hope the next 2 days are a little more active.

Good luck with your trading!

A very active start to the UK session with the pairs moving quickly and getting away .  The NZD had been very active in the Asian session, quite similiar to the AUD trade we took last week.  We looked for signs that  it would reverse and entered long.  We were quickly rewarded but a very wicky candle formed within a half hour, so we tightened our “take profit”  and the trade closed the following candle – locking in 20 pips.

Be careful never to chase trades.

Back tomorrow.

Good luck with your trading!

AUD set up well after an extended Asian session.  This is such a favourite trade setup of mine that I completely missed the GBP trade – oh well.

The AUD was unable to climb above its Asian session highs for more than a pip or two and began to fade.  With a stop above the Asian session high and a greater that 3:1 Reward to Risk to our Target 2, we entered and took some heat for over an hour.  Price slowly rolled over and we had hoped to get rewarded at least to the Asian session low, before the UK close.  Price moved down, but as we tightened our “take profit” we ended up being taken out of the market for 30 pips.

Overall a great week.

Enjoy your weekend!

Back Tuesday.

Much quieter session after yesterday’s extended moves.  It really was hard to find a trade as the pairs just weren’t moving or very convincing.  After the fourth lower high, the NZD looked like it would move down.  The stop loss was very affordable above the Asian session high, but if the third lower high was taken out, I would close out, as the US session and news was approaching.  Moving the stop loss to plus 1 pip took the risk out of the trade and we managed to get a few pips before it stalled in its descent at the Asian session low.

Let’s hope for one more nice move to end the week, but we will be meticulously picking the best setups as always.  We do not want to give back any pips after what has already been a stellar week.

Good luck with your trading!