PipsTradingClub

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Here is another Forex Trading Snack. EURCAD is offering a good EW 5 wave setup on the hourly chart. Will comment more, but things are moving somewhat and I’m still setting things up on this. As we head into market mode before NFP on Friday I’m suspecting some pull backs till news release. If you decide to trade this you assume all risk. If you trade you...

PipsTradingClub Updated 

Here is another Forex Trading Snack! I try to post up higher probability trade ideas in my opinion according to my own style of trading. If this also matches yours. Great!! Allow me to just say, this idea is both long and short trade plays in one pattern and trading idea. Full disclosure; I’m already short at 107.75 When news hits and markets react to it, ...

PipsTradingClub Updated 

So I often see setups of past moves repeated in smaller timeframes. A lot of people might think a small timeframe trade setup needs eyeball attention thus your time applied to charts and screen time. True or not, it’s a traders choice. Besides patterns just jump out at you at times, so, trade what the market gives you... is what I say. On lower portion of this...

PipsTradingClub

And here is another Forex Trading Snack. This pair is offering up one of the cleanest Elliott Wave 5 wave setups right now. I usually post this kind of setups as EW 5 wave. On the chart we have additionally a down sloping channel pattern that is slow in price movement and has over lapping price action forming the wave 3 down to wave 4 in the pattern. This kind...

PipsTradingClub Updated 

Here is another Forex Trading Snack. There is always a bit of confusion with new traders who haven’t yet settled in on a type of trader they would like to become. Most trader newbies are having to balance trading with other sources of income and a family life a well. Many tend to trade in a scalpers mode for shorter times in the markets. Yet one of the...

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‪So if the RBNZ tonight is a little less dovish than expected. I’d like to sell AUDNZD on the breakout lower just as I have laid out here on my chart. So I’d sell 1.0735-40 zone Set a stop of 25-35 pips TP 1.0650-75 zone I’d be hoping to get filled off a momentum play down where if everything goes as planed it will keep going lower after the order is filled....

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Here is another Forex Trading Snack. It’s easy to post up any trade idea as it happening or just after the best opportunity has come and is now gone. Here is an idea before it has become a filled order or trade. The trade before it a trade! Someone once told me, in Forex trading straight line moves usually to a great trader equals taking a calculated counter...

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We have to consider with Brexit and all, the Queen just isn’t dancing to the same tune anymore. News and rumors of news on developments or political maneuvers just seemingly moves the Queen around the dance floor with swooping and then spinning around that would make any 90-year-old-or something lightheaded... it time for that break in dancing like it’s 1999....

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Here is another Forex Trading Snack! Yes I know... But there is significant amount of news risk associated with trading GBP pairs right now, you say. True! But using calculated risks, there is a great opportunity for an over sized reward for the risk taken in my opinion. First this pair has completed a double bottom pattern It has moved up from that bottom...

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Another Forex Snack. Here we are just before the FOMC rate decision and the EURUSD is positioned at the middle of a recent range. A repeatable event in moving towards middle ground just in front major news releases anyway. My reddish box is the battle ground between Buyers and sellers. A break in either direction for me would point towards a longer term move....

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Here is another Forex Trading Snack. Hey a few days ago I posted in TradeView chat that I thought GBP would be heading into another short lived down move and then have another move to set new highs of this recent longer swing move up off the bottom. I was met with some comments to the effect that implied there might be a lack of experience, because the commentary...

PipsTradingClub Updated 

AUDNZD Currency pair is more of a trade based on the AUD out preforming the NZD. With the NZD central bank one of the most dovish of the globs central banks—it is no secret then that traders view it as the most weak of all the currencies. So a buy or sell here is the belief that AUD will simply out preform / be the stronger or even less weak should the market go...

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It’s Friday! TGIF Here’s another Forex trading Snack. After the ECB enacting unlimited QE yesterday during it meeting EUR was shaken with volatility and created what can be viewed as a double bottom pattern. After breaking the neck line and holding it, the path of least resistance I believe is toward completion of the pattern. That should take us towards...

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Here is another Forex Trading snack. I know it’s Friday and late in the trade day by Friday’s standards, but it’s never to late to strategize and plan for a new weeks open trade. USDJPY has run up and started to show signs of slowing a bit. This could just be a rest before another push higher. Evidence that it might go higher early next week... Friday’s trade...

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Another Forex trading snack. Nothing moves in a straight line for long in Forex trading. So with this last bounce of optimism on a no hard Brexit deal the market pounced on bidding up the GBPUSD. There is significant news risk to trading this pair, positive or negative news will push price in wider swings. However this daily flag pattern that seems to be forming...

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Just another Forex trading snack! I’ve mentioned it in chat before... “just before major expected news releases EURUSD usually seeks middle ground.” For most of this week I’ve been long EU, but mid week just before NFP release, I started to look for shorts. Why? Because for years now EUR and other dollar pairs have set their respective high’s or low’s and then...

PipsTradingClub Updated 

Here is another Forex trading snack! Diamond patterns don’t happen all that often. New traders might be asking what does it mean, and how can we trade it? Diamond patterns are called reversal patterns usually found at tops or bottoms of trends. The blue trend lines form a 4 sided diamond pattern and price continues to go up and down inside of the pattern first...

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Yes I know my earlier post was about wanting Sell this pair around the 1.2300 level. However, with this impulsive and sudden move higher and taking into account of some potential dollar positive news on Friday ( tomorrow / 8/23/19 ) I can see a run up in price based on a EW 5 wave setup I see on the hourly or 30M charts. I know they are short term charts, but this...