JGSmith123

JGSmith123

Great spot to get just a few pips. Enough for a nice cup of coffee. Coffee anyone?

JGSmith123

I love the idea of starting a small long position on the GBPCHF! Because of the way the GBP has been acting, I would keep it really small at first and build as it goes in my direction.

JGSmith123

The USDMXN is getting close to a wonderful sell position. It would be especially nice if it could get up there without having too much of a pullback. But, at this point, still just watching.

JGSmith123

Though I have been burned pretty badly while shorting EURGBP in 2016, I see this as a very good zone to short it. Of course, who knows what will happen with all of the British news.....

JGSmith123

I really like the idea of going long the GBPJPY when it gets down to this red line. That is a significant Daily level. With the GBPJPY, I expect that we could get at least 100 pips out of this.

JGSmith123

I took a loss on this trade. There was plenty of opportunity to get a small amount of profit but I just didn't take it. When it broke below the support (see linked trading idea) I just got out at a loss. JPY pairs just trend way too much for me to be willing to hang on to until it turns around.

JGSmith123

I am looking to go long when the price gets down to this red line (240 minute support line)

JGSmith123

I love these types of scalps. They are so consistent and easy. Primary cautionary word: Sometimes the sell off happens before the actual highest point. So if the sell off happens before triggering your entry, remove the order.

JGSmith123

For horizontal S/R levels on 240 minute charts, I generally only like to take about 20 pips. But has traveled a long way with virtually no breather to get here. I expect there will be a good amount of profit taking going on. I may go for more than the normal 20.

JGSmith123

I like taking 20 pip trades on small bounces from major 240 minute levels.

JGSmith123 Updated 

This Daily chart is to complement the Weekly chart that I posted about the DOW

JGSmith123

The DOW has had a great run up over several weeks. But I think we are going to start seeing some weakness and get a bit of a drop.

JGSmith123

On the weekly chart we are getting close to a strong weekly level. These are often good for a 70 pip or so trade when it gets down there.

JGSmith123

We have seen some slowing momentum on the long term down trend in the NZDUSD and it posted a higher low in January this year. This last week it broke out above the resistance that was formed and it appears we could go into a medium term uptrend from here.

JGSmith123

GBPAUD is getting down to a significant weekly level. This should be good for a ~70 pip bounce.

JGSmith123

Amidst all the Brexit news, the GBP has been in a crazy trend. I actually lost a good amount of money because of it. But here we are looking at a very significant level and I think there is definitely some money to be made shorting this pair.

JGSmith123

The AUDUSD is approaching this very obvious and significant 240 Minute trend line just before the NFP today. News can always do crazy things with the price and I would never make a prediction based on how I believe the market will interpret the numbers, but it is pretty clear that some good news for the USD will further give this reason to drop from this trend...