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Currencytrading

This might be the only long term game in town- 300-500I posted two charts because I wanted to show how the the bigger picture is playing out and how to managed the more near term trades/entries. As you can see on the chart below, the weekly chart has a 5 year old trend line that has broken, the market closed and opened above that trend line and has pulled back to retest. The chart above shows a more near term picture of that trend line retest on the 4h chart and areas to start buying into. We like scaling into this trade around current market price and buying into more dips if that happens. Upside targets at this point are 1.1300 and 1.1400. More updates to come...
Long
by JaredJJohnson
Small head and shoulders- 100-150 pipsThis one isn't the most popular pair to trade. It gave a nice quick 35 pips last night on THIS TRADE CALL and I think we could see another good push down to the weekly pivot. We have a possible head and shoulders forming, first off was the rising wedge now it's time for the right shoulder to form. One way or another I want to trade this to the weekly pivot, a head and shoulders would be the easiest most obvious set up. Entry details: (ideally) enter short at 87.70 Stop above 88.20 Target 86.50
Short
by JaredJJohnson
Oh what a range, what a beautiful range!Sorry for the "Mad Max" reference, such a great movie! AUDUSD has one of the best ranges I've seen yet! it's just shy of 100 pips, if you're a range trader than feel free to take advantage on buying lows and selling highs of this 100 pip range, keep stops tight because when this breaks out it's going to be probably with some good momentum. Once the range breaks, I'm looking for at least 100 pips either direction. A break above 7700, I'm targeting at least 7800 A break below 7600, I'm targeting at least 7500 It's really that simple, trade the range until it break, then trade the h'word out of the break!
by JaredJJohnson
1
EUR/USD; Short? or Long?The EUR/USD seems to be in a bit of a pickle, there was a false breakout represented by the ABCD shape, but there seems to be a reason behind that as the Coppock curve shows that it provided past support for that decline, so I would ignore the false breakout. But, the currency pair has reached a crucial resistance point, this is also represented by the 100 EMA, providing this resistance. Furthermore the 50 EMA is providing the support, so I would short just in till it has stalled in the green region, then sell. But, if a upward breakout occurs then I would sell my short position and go for the buy.
Short
by marginal_trader
220 pips here- but it's going to be trickyThere's some great profit potential here, however it's going to be a very tricky set up to take. Let me explain. The gbpcad looks to be hunting out the upper missed monthly pivot at 1.6680. IF and only IF it hits that upper lever FIRST will I take the trade. If 1.6680 is hit in the next few hours, I'll sell/short at that level targeting 1.6460. It's that simple. However if this pairs dips down to 1.6500 area first (before hitting 1.6680) it's a no trade for me. I hope that makes sense. ONE BIG IMPORTANT DETAIL: There's potentially super volatile UK news coming Monday night/Tuesday morning early, that could mess up this whole thing. Keep the news in mind.
Short
by JaredJJohnson
5
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