PipsTradingClub

PipsTradingClub Updated 

AUDJPY has for the last 3 weeks been capped at the 78 level. No real surprises here because it also is where a long term trend-line hits. This trend line goes back to 2014. If stocks sell off / a risk off environment this pair should also sell off. So far the move is driven by last weeks Stronger moves in JPY Pairs. I’m playing this one by selling off any bounces...

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That right I hadn’t played this pair well this last week. However if you have a plan, stick with the plan till you’re proven wrong! Changing from plan to plan isn’t anyway to make it as a trader because you’re guessing or at best not looking for high probability plays. My mentor used to say.... Okay, a self-taught trader doesn’t really have a trading mentor, my...

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No one likes the US Dollar but.... This weeks dollar moves has been challenging to say the least. Sticks down you’d think Dollar up. Right? Yet the Dollar was slightly down or just mixed. Gold was looking like a breakout was in play but no! Followed stocks a bit—this also should have said Dollar get a move on. Not yet! Oil moved higher into my resistance zone of...

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As I had pointed out on my earlier post I was waiting on the neckline retracement to get short and yes we got to the horizontal blue zone and not quite to my red box preferred zone. I’ll take what the markets give though. Earlier this morning took 1/2 off ( because it’s Friday more then anything as to why ) and going to search for add on opportunities. With...

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Ok I’ll admit it! I didn’t really trade this pair all that good / well of late. Not that I lost some pips, that’s all good and comes with trading. It because I allowed myself to get caught in a smaller pattern inside of a similar large pattern. Up sloping channels. I played the small pattern only so, so! Took some pips then gave some back and in the end I was down...

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Full disclosure here when I posted the original post I was not in the trade just yet. As I post this I’m still not filled on orders. But I have a open order zone around 1.24-1.2440 zone with my blue horizontal zone and red box zones as my open order area. Stops above 1.25 with open targets for now due to larger head and shoulders pattern needing certain price...

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Oil orice action as I follow it in the WTI has shot up in prices and discovered not only fib resistance zones but horizontal resistance as well around 41-42 price range. Nothing wrong with that except that USDCAD hasn’t followed oil’s price action. Instead it has carved out a very nice inverted head and shoulders pattern . Should the neckline break then we should...

PipsTradingClub Updated 

Yesterday offered up some good short term play on NZD against the 6760 area. Today we seem to have a repeat trading opportunity within a up sloping channel so far today offering resistance. In addition we have A great fib resistance zone From the recent highs around the 6780-6800 area. With hourly price action over lapping and grinding slowly higher I’m thinking...

PipsTradingClub Updated 

Glad to be back after a bit of time off chasing other responsibilities of mine. EURJPY has broken down through what I see as a head & shoulders pattern play neckline.The measured move is some 200-250 pips lower providing the neck line break is held. I suspect bounces back to that neck line will be met with resistance. Hold under the neckline and this opens the...

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Another Forex trading snack. Well like that the market does what it wants too! The market is never wrong! So what went wrong with my take on the SPX and what I was seeing in the markets? Nothing! Nothing at all. News hit about potential positives with the Covid 19 virus... well traders and algo’s that have had 11 years of bullishness in the markets fueled by the...

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Here is another Forex Trading Snack. To go along with my stock risk on or off trading view, here is my favorite Forex pair that matches closely to my stock trading view. Of corse the two instruments trade inversely to each other. My main strategy for this weeks market open is to follow the recent up channel the pair has been trading in. The downside has been...

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Here is another trading Snack. Ever sense the stock market pushed to it last all-time-high, followed by risk off fears of the pandemic, we’ve only challenged the re trace move bacK to the 61.8 Fib level and now are grinding around. With zero or close to zero rates in most of the world, money managers who for the most part have only seen for the last 11 years a...

PipsTradingClub Updated 

Another Forex Trading Snack. I posted up a earlier a trade that failed me and my original setup. Sudden volatility struck fast and hard! Ok, I will admit it, for a moment my emotions were crushed. I went from trading my setup emotionless, to just about packing it all in for the day! What changed? A bit of self talk changed my fear of having just lost, to...

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Another Forex Trading Snack. My law of big candles does fail and has a 33% failure rate. But that doesn’t mean you can not learn to bend the odds in your favor, along with putting you on the road to greater successes in the future. In my previous post on EURAUD I posted up a trading strategy. My law of large candle strategy. And I don’t want to get people...

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Here is another Forex Trading Snack. This is an example that I saw in the market this morning ( my morning ) and my trade setup as I took it, long with my thoughts as I planed it out. Price action certainly has changed while I was slowly typing this post. Just an example of how I trade a larger true average range currency pair. The plan here is to trade long in a...

PipsTradingClub Updated 

Here is another trading snack! AUDJPY has created this really nice bearish wedge pattern. In my opinion there is two good ways to play this pattern. As always patterns can and often do break in the opposite direction from ones own analysis or market bias’s. Having said that, trade if you must with your own risk tolerances. ‘‘Tis also isn’t trading advice, but my...

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Another Trading Snack! Using my weekly chart I’ve formed this oil trading bias for some time. That and I deeply respect the EW 5 wave patterns on longer time charts. Let me explain... Yes that’s right! I suggest that new lows could come in price action on the WTI even though the oil war had come to an end as some pundits were reporting in the news. I have...

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Many seemed to believe with the oil war over and the 10 million cut in supply that this would’ve caused price action to rise at the next opportunity. I mean Algo’s would have driven price higher off this kind of news right? The worlds industrialized nations have been filling their tanks as oil was falling—now that the world oil production agreements have come to...