Forex Tips and Tricks – Keeping It
Simple To Be Successful
Some days it’s just too tempting to short the GBPUSD
I read a quote today from a trader who described the cable as having two types of days lately: ” 1. days where it falls, and 2. days where is makes gains then gives them all back later”. The political drama in Britain continues and Brexit is anything but a...
The markets awaits the outcome of the G20 meetings especially the Trump-Xi “deal or no deal”.
It appears the market overreacted to Fed Powell’s comments on Wednesday and the USD is strong today as November comes to an end. All eyes are on the G20 meetings in Argentina as politicians attempt to resolve their differences with other nations. The outcome of the...
A relatively subdued U.K. session and then Fed Powell spoke and the USD sold off heavily.
Today as the USDJPY moved down it found buyers at its Asian session low and a reversal setup gave us an entry risking 6 pips for a potential 42 pips to our daily target at 114.18. Price moved up very little in advance of the U.S. Open and we moved our stop loss up...
Shorting the AUD as the market focuses on the upcoming Trump-Xi meeting at the G20 Summit
The USD was slightly stronger today and global stock markets began the week positively. The AUDUSD moved strongly higher during the Asian session trading, which usually is followed by a reversal when the U.K. traders come on. Almost uniformly at the same...
USD a little soft today as gold and 10 yr yield move up
The AUDUSD set up for a long today with a slightly softer USD and gold moving up. Risking 6 pips for a potential 32 pips to our daily target at .7274 we entered long after a “W” pattern reversal and bounce off a simple trendline. Price moved up in advance of the...
A day of strength for the USD across the majors and equity markets continued their tumble
Although the equity markets worldwide continued lower today, the USD was strong and gold was on its back foot. With a uniform move of strength for the USD versus the majors, it was not difficult to find trade setups. Risking 10 pips for a potential 44 pips...
A weaker USD, higher gold and AUDUSD sets up for a long
The USD was weaker today as we close the trading week. A very light news day with gold and commodity prices on the rise. A long setup was found in the AUDUSD risking 8 pips for a potential 55 pips to our daily target at .7312. As the U.S. session got...
Trading the EURUSD on Tuesday and Wednesday as it retests the 1.1300 figure
On Monday, which was a North American bank holiday the EURUSD finally broke the 1.1300 level and quite decidedly as it moved down to 1.1215. On Tuesday, it would be normal for it to retest the 1.1300 level and we would discover if buyers or sellers would prevail....
An uneventful FOMC yesterday, a flat USD today and an air of caution going into the weekend
There was not a lot to glean from the FOMC statement yesterday. The market continues to expect a rate hike in December and likely 2 more rate hikes in 2019. Whether or not the U.S. economy has peaked or not, it continues to be strong and the USD continues to...