Forex Tips and Tricks – Keeping It
Simple To Be Successful
Shorting the AUDJPY as money flows move to risk off to begin the trading week
The trade war implications between the U.S. and China have the markets unnerved and moving toward safety today. With major stock indices selling off to begin the week and money flows moving toward the JPY, we chose to short the AUDJPY. The AUDJPY is a good gauge...
Trading the AUDUSD on Thursday as ECB’s Draghi disappoints the EUR bulls once again
On Thursday, E.C.B. President Draghi stated that the Q.E. program will end at the end of December this year (no surprise there). The surprise for the market was that he stated there would not be any interest rate increase through the summer of 2019…and the EURUSD...
So far this week the market has not had any big surprises
On Wednesday, well before the FOMC rate announcement, a short setup was found on the USDJPY. After the Summit in Singapore yesterday went well, the market shifted its focus back to trade tariffs. With a pending announcement from Fed chair Powell, and the USD...
Nothing interesting today to close the week but an AUDUSD trade from Thursday produced a modest gain
As the U.S. session got underway on Thursday, the AUDUSD began to roll over and a short was taken risking 10 pips for a potential 44 pips to our daily target at .7605. The trade inched lower slowly and we exited at the U.K. close. Trade tariff implications remain...
Still shorting the EURUSD when it sets up
The EURUSD set up today for a very rewarding R:R as we were able to enter short risking 14 pips for a potential 100 pips to our daily target at 1.1604. The pair stair-stepped down after it failed to close above its multi-pivot. Protecting our profit in advance of...
The GBPUSD set up for a short early in the U.S. session
As mentioned previously, I like to look for short setups in the EURUSD and GBPUSD until the current trend changes. Today both pairs set up but the GBP short only required a 14 pip stop loss for a potential 65 pips to our daily target. It took price about 45...
Tumultuous trading week includes Italian government, U.S. imposed tariffs, and “on again” summit with North Korea
The markets are gyrating about as uncertainty regarding Italy’s ability to form a euro-friendly government remain in question. Spain too may have a change of government pending. Uncertainty will not help the Euro. The U.S. is imposing tariffs at midnight...
A nice short on the EURUSD to end the week
The EURUSD continues to be a pair that I like to short… as previously mentioned. It doesn’t set up every day but when it does as it did today, I want to take advantage of it. Today the USD was strong and after the EUR failed to stay above its Asian high, a...
Shorting the GBP as Prime Minister May and Bank of England Governor Carney remain on their back foot
With Brexit in just over 10 months, internal squabbles continue for P.M. May regarding her plans to remain in the customs union longer if necessary as the question regarding the Irish border remains unresolved. BOE Governor Carney in his recent statement has...