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Currencytrading

The Rising Wedge Is BACK! (200 pip target)Last week I talked about this rising wedge, it flexed it's muscles and we have to expand the wedge a bit, but it's all still very much intact and I'm super anxious to get into this trade short. Specifically for EURUSD there's ECB news on Thursday and Trump on Friday, sooooo.... I'm looking for end of week to trade this pattern. Ideally I'd like to see: ENTRY: wedge break out, small retest and sell that STOP: above highs TARGET: 1.0350 area
Short
by JaredJJohnson
1
Talk about a long shot- 200 pips worth!OK so Trump, or whoever, caused the markets to go HOG wild this morning, which is cool! We had some nice pips on EURUSD and the first target was hit so that's fine. This might seem like a long shot, and maybe it is, but we could see the start of a larger pattern forming here. Here's what I'm looking for: The completion of a rising wedge, it's dependent on STAYING BELOW 1.0650! If that level breaks then I'm not going to completely reassess. ENTRY: Short rising wedge break out STOPS: above 1.0650 TARGET: 1.0350 and 1.0175 (and parity of course)
Short
by JaredJJohnson
One more push higher the it's SHORTY time!I might be alone here but I can't imagine going anything other shorting EURUSD, any squeezes higher should be nice entries to sell the rallies. There's a lot of fundamental reasons behind why I think the EURO is headed down in a major way, blog posts coming on that, for the mean time google it! ;) To be clear, I want to short any confirmation that it's headed lower. For now I'm looking for 1.0600-50 for areas to short. I'm going to get an aggressive trend line and sell any breaks, I don't expect a move much above 1.0700. ENTRY details: entries between 1.0600 and 1.0650 (looking for this area + trend line break lower for entry) STOPS: above highs which will be at/around 1.0700 area TARGET: 1.0350 AND Parity
Short
by JaredJJohnson
1
LONG USDCHF if it breaks 1.0211 resistance.USDCHF looks to be at an interesting point to me. I'm thinking of going long at 1.0216 (entry would be just above a resistance level at 1.0211, if it manages to break it) with TP at 1.0299 (another longer term resistance level) and a SL at the point I think I would be wrong, which to me is into the body of the last daily candle. At about a half of the ATR on the daily (which sits at 0.00435 at the time of writing), this is an aggressive stop, but over the long term the USDCHF appears to me to be in a channel, so it could well go lower and I don't want to take those losses. The pair has had a few attempts on the higher long term resistance around the 1.03 area, so it could try again or it could fall lower on those failures from here. Either way, here's one of my positions and we will see if it's going to work out. These are only my opinions. Comments, questions and suggestions are very welcome!
Long
by BarkerCR
Two areas to short, 200 pips of scoot is comingI like to keep these trade ideas simple, here are the areas of entry, where I want to take profit. If you want to know mow about how I came to this conclusion, leave a comment below. I'm looking for two areas to short GBPUSD: ENTRY: sell retracement at 1.2530-70 area OR sell break of low at 1.2365 STOPS: if the lower entry gets filled, my stops will be above 1.2500, if upper gets filled, stops above 1.2750 TARGET: 1.2200/1.2165 BOOM! Let's make some money!
Short
by JaredJJohnson
3
Let's buy this puppy... with confirmation!!USDCHF has failed many times around the 1.0200/1.0300 area and maybe now it's ready to go. So far the USD has been beat up to start the week but it could also just be a nice chance to buy some dips and get long again this pair. I'm looking at these entry details: BUY: as always looking for trend line breaks to confirm the buy, but liking 1.0130/40 area to start buying STOPS: longer term you should have them below parity, short term keep stops tight below 1.0100. TARGET: 1.0220 and 1.0330 AND 1.0500
Long
by JaredJJohnson
Top 5 Risk Management RulesTop 5 Risk Management Rules: 1. Only Trade with Risk Capital -Risk Capital is the amount of money you are willing to lose and do not include your living capital into your trading account! 2. 2% Risk Management -The 2% Rule prohibits you from risking more than 2% of your account equity on each trade you are entering. 3. 6% Risk Management -The 6% Rule prohibits you from opening any new trades when your current open risks in your open trades reach 6% of your account equity. 4. 10% Risk Management -The 10% Rule prohibits you from opening any new trades for the rest of the month when the sum of your losses for the current month and the risks in open trades reach 10% of your account equity. 5. Risk to Reward Ratio -Only take the trades which provide you at least 1:2 Risk to Reward Ratio
AMEX:SPYEducation
by YongLiang
Top 10 Trading Psychology RulesTop 10 Trading Psychology Rules: 1. Plan the Trade & Trade the Plan -Plan all the potential trades beforehand, and trade accordingly with your plans 2. Always be Disciplined -Do not create excuses to break your own trading rules 3. Expect Losses -Do not take a trade unless you are willing to accept the risk 4. Emotion Management -Always analyze your trade objectively and with a neutral of mindset 5. Focus on Trading Well -As a trader, your focus is on making the good trades, not focus on making the money 6. Patient, Patient and Patient!!! -Patient to wait for the Best Setups to trade, do not trade when there are no good setups 7. Trade What You See, Not What You Think -Concern with the effects, not concern about the reasons behind of what are happening. Everything is on your charts! 8. The Trend is Always Your Good Friend -The easiest money is made trading with the trend 9. Trading Evaluation -Record down your trades, why are you entry and why are you exit, continuously improve yourself 10. Trading is a Marathon, not a Sprint! -Be realistic, trading takes time to build experience
AMEX:SPYEducation
by YongLiang
Short term (75 pip) trade- bear flagThis is a pretty clean pattern, I got in once already and took some profit. Now looking for a quick move down to recent lows. WHY I LIKE THIS TRADE: 1) there's a clean clear bear flag, these are great set ups! 2) Symmetry lines up perfectly with past lows (measuring the previous movement against the current movement, profit target method) 3) The recent move lower retraced 38%, that's great fib retracement for a continuation of the downward trend 4) USD strength seems to be holding solid 5) because I waited 6 months for this pair to break out of a tight channel... it's about time!! ENTRY DETAILS: I want to find any reason to short this at a higher price than 7375, however a break below that level with a retest, I'll enter that trade for a move down to .7300. Stops will be above 7420.
Short
by JaredJJohnson
2
Coming off 13 year lows- quick bounce for 100'ish pipsI have not been very excited to be short USD lately, I've been riding the trend along with everyone else, here are some reasons I'm looking to trade USD weakness on EURUSD. 1. the 13 year lows around 1.0500 have held very well 2. Short term charts are showing higher lows 3. we're approaching a solid trend line So if there is an hourly open above the trend line, a retest of the trend line, I'm buying up towards 1.0740 and 1.0815 with stops below 1.0565. I won't fight this trend too much, I will be aggressive to lock in profit and move stops along with the trade.
Long
by JaredJJohnson
1
The time has come... 500-700 pips are lining up!GBPNZD has been on my radar for weeks and actually MONTHS! I've been waiting for this pair to start showing upward momentum and start pushing higher, it has given us a favorite chart pattern... a bull flag! ENTRY: I'm looking at 1.7700 area, there are fibs and flag support there, I would like to buy dips with short term trend line confirmation (1 hour trend line break to buy the dip etc) STOPS: below 1.7500 looks pretty safe at the moment, otherwise we have to go real deep on the stop area. Target: 1.8000 will be a great area, but ideally I'll hold on until 1.8300/8400 I'll keep you all updated! Happy pippin!
Long
by JaredJJohnson
I'm very short term "long" here- looking for 100+ pipsthe EURUSD has cratered for the last few weeks and I'm left wondering what may happen as we approach 13 year lows on this pair. 1.0470 (give or take a few pips) is the lowest level since 2003, anytime I see a double bottom happen with nothing nearer than 13 years prior I get curious and I can tell you I'm curious. EURUSD could be headed into MASSIVE lows, I'm super bearish with this pair. However it has dropped a goooood amount into fairly historic levels, it should be time for a little pull back/correction. Here is what I'm looking for, a break of the channel, let it reach the current weekly pivot, re-test the trend line break out then move up into 1.0740/50 area. Ideal entry: 1.0650 (remember break out, then retest, I'm not buying the first break) Stops below 1.0570 Target: 1.0740 and 1.0845
Long
by JaredJJohnson
quick 80-100 pips coming up!This is a favorite trade of mine, it's done on a short term chart (15 minute) and the beauty of it is we use some trend line to confirm entry, if we don't get the break we don't take the trade. This one is coming up on overbought so watch for a short term trend line break and a move back down towards 108.00. Stops are flexible, I usually add to this trade if it goes against me. So it if does I keep selling with new confirmation until all positions are in profit, trade management is super important here. I'll keep you updated on the details.
Short
by JaredJJohnson