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Shorting the USDCAD once again as oil moves higher
Oil continued higher today and after the U.S. session got underway, the DXY backed off its highs as the equity markets moved higher. A short was taken in the USDCAD risking 25 pips for a potential 55 pips to our daily target at 1.2516. An earlier long trade in the...
Shorting the EURUSD as the DXY remained strong to begin the trading week
A fairly light news day for economic releases to begin the week and the USD remained strong. There was an initial move lower after the U.K. session got underway, followed by a pullback going into the U.S. session overlap. As the EURUSD began to move lower again, a...
2023 Trading
In 2022, I experienced 2 different health scares which are now behind me. They served as a reminder that nothing is more important than our health. As a result of the two incidents, my trading and teaching were greatly reduced. I will continue to trade and teach in...
Shorting the USDJPY as the pair continues lower
Since October 21st last year the USDJPY has been in a downtrend making lower lows and lower highs. Today as the U.K. session got underway the pair moved lower, retested its Asian session low, before moving lower still, and as the U.S. session got underway, the pair...
Long the GBPUSD as the DXY moved lower today
As the U.K. session got underway the GBPUSD moved lower to test its Asian session low, then broke above its Asian session high leaving a bearish doji candle. Price pulled back to test yesterday’s high before reversing higher leaving a bullish 3 candle reversal...
Short the USDJPY as the USD moves lower
It was a very light economic news calendar today. The DXY moved lower again for a third day in a row and the USDJPY set up for a trade before the other majors today. The pair had moved lower after the U.K. traders began their day, then made a small...
USD weakness and a uniform move for the majors against it
A fairly tight trading range before the U.S. session, then a uniform move across the majors as the DXY moved lower and lower. A long was taken in the EURUSD risking 20 pips for a potential 79 pips to our daily target at .9953. The move was vertical so we...
Short the EURUSD as the pair reverts back to its trend
The Asian session saw the EURUSD move lower and as the U.K. traders began their day, breakout shorts were tricked, and the pair briefly moved higher taking out stops. A second test of the Asian low found some buyers for one candle which was followed by a bearish...
Long the GBPUSD as the USD starts the week moving lower
The GBP pairs have been very active since PM Liz Truss came to power. Last week she fired her Chancellor of the Exchequer. On Friday, the Bank of England’s emergency bond buying program ended. The newly appointed Chancellor of the Exchequer, Jeremy Hunt is trying...