by Michael Bridgman | May 7, 2021 | Forex Tips
The market has been quite slow this past week and good trade setups have been few, and not amounted to any gains worth posting. Today the NFP number created a large move against the already soft USD. For me, the idea was to wait for the pull back and trade the...
by Michael Bridgman | Apr 28, 2021 | Forex Tips
A bit of back and forth price action as the markets prepare for the FOMC and month end. The DXY continues to be on its back foot… bearish below 91.00. A long GBPUSD was taken early in the U.S. session after a higher low as price moved up into its Asian range –...
by Michael Bridgman | Apr 27, 2021 | Forex Tips
It’s month end this week and trading can be choppy especially when combined with Jerome Powell and the FOMC statement on Wednesday. Today a USDJPY long was taken as the pair continued to stay above 108.00. – risking 11 pips for a potential 26 pips to our daily...
by Michael Bridgman | Apr 23, 2021 | Forex Tips
The risk sensitive USDJPY moved lower in the first half of the U.K. session, finding a bottom just beneath 107.50 then it began to move higher early in the U.S. session. A long was entered after a reversal pattern risking16 pips for a potential 37 pips to our daily...
by Michael Bridgman | Apr 22, 2021 | Forex Tips
The GBPUSD moved lower early in the U.K. session, leaving a second lower high for the day. Buyers emerged just above yesterday’s low and the pair began a retracement higher. When it began to move down again it left a third lower high for the day. A short was taken...
by Michael Bridgman | Apr 20, 2021 | Forex Tips
There was very little economic news today and the USD tried to bounce at a technical level just above 91.00 Equity markets were moving down from their recent highs and currency flows – typical of the “risk off” environment moved to the yen. A short was taken in the...
