riffster21

riffster21

The EURCAD has been trading inside this massive channel since the beginning of Dec. We have a run towards resistance right now. The recent push up has 'not' consolidated making a bounce near resistance more likely. I will wait for the pair to get close to resistance (top of the channel), then sell with a stop 20 pips above the channel and a target near the...

riffster21 Updated 

Hi folks, The GBPJPY has been grind inside a downward wedge for a couple of weeks. The over all trend for the GBPJPY is bearish. I am looking for a break below the shorter term support (little/shorter yellow line on the chart). When/if this level breaks, I will short and place a stop outside the 'main' resistance (somewhere around 142.00 and ride this pair to the...

riffster21 Updated 

Hi folks, the EURUSD has been bearish during the US session. We had a minor correction, but the EURUSD looks ready for another push down. My main indicator is signaling a short and I'm in. My levels are on the chart. Sorry for the late post. I was getting my trade setup and the market dropped. Still trying to post quick enough to make these ideas useful...

riffster21 Updated 

Hi guys, the GBPJPY is trying to push higher but can't seem to get above resistance (yet). I will buy after a confirmed break above resistance (I'll use a 15 min candle above to confirm), then wait for a pullback near former resistance/new support. Option B: If up trending support fails I will open a short position (I'll use a 15 min candle below to confirm),...

riffster21 Updated 

Hi folks, I guess I'm feeling risky today? I usually don't fade, but I seem to find a lot of them today. All of my indicators are screaming over extended for the AUDJPY. I was waiting for the move to become parabolic and move above the steep upward resistance trend line. I shorted as soon as it did. My prices are marked on chart. I'll post a few of my other...

riffster21 Updated 

Hi folks, the EURUSD has been Bullish all night/day (depending on where you live). Most forecasters are predicting a stronger EUR vs USD over the next few months. I still think the Bearish moves are just as profitable as the Bullish moves, but today it looks bullish. I've been waiting for a pullback near down trending support to go long. News gave me a nice...

riffster21 Updated 

Hi guys, This is one of those quick scalp trades that I hate posting, but I thought it might be helpful for some of the new traders. The NZDJPY is over extended at the moment and will pull back (probably a clean Fib level). As I am posting this trade, the NZDJPY has already dropped 8 pips, so you probably won't catch this one, sorry. My trade levels are on the...

riffster21

Hi guys, you know it's true... We all love and hate the EU right now. I'll say this upfront: I will push my stop to BE after 25pips on every EU trade until prices mellow out a bit. The EURUSD is in a downtrend at least until it's not (again). I was waiting for a clear break of former resistance, now support and it looks like we have that break. I waited for a...

riffster21

I've been waiting to see if the USDJPY would break back above former support and it did. Most traders expect this pair to grind higher and I would agree. I am long after the break. Long @ 113.26, stop below the last swing low @ 112.43 and my target just under the last swing high @ 115.01

riffster21

The GBPUSD made a 'double top-ish' formation and the 4hr seems to confirm the bounce. I waited for my indicator to confirm the sell before I jumped in. I waited for a pull-back after the sell. I will ride the (what I expect to be a very choppy) drop back to support. I am short @ 1.2348, with a tight stop @ 1.2451 and my target inside support @ 1.2135

riffster21 Updated 

The GBPAUD has been down trending pretty strong over the past couple of weeks. We catch a large leg of the initial move down. We may get a chance to grab another leg. However, if resistance fails after my trade entry, I will reverse my position. Consolidation is not out of question for this pair. My Plan: I will short the GBPAUD if/when the price reaches the top...

riffster21 Updated 

The EURUSD continues to ignore it's previous bearish trend. That said, the moves up and down have been fairly strong. We have a possible double top forming . If we get a confirmed bounce (I'll use a bearish 15 min candle off of resistance to confirm) I will sell @ resistance with a tight stop above. Plan B: if the EURUSD breaks above resistance (I'll use a new...

riffster21

Hi folks, the GBPUSD finally broke out of the wedge. I could catch the initial breakout when it happened, but as the Forex usually does, we got a second change to enter. This probably means choppy prices, but I'd much rather sell this pair. I am short @ 1.2142, with my stop @ 1.2308 and my target @ 1.1717. I used a fib extension to calculate my target. This...

riffster21 Updated 

Hi guys. Even the EURUSD bears have to admit that the EU is climbing. Well, fine... they don't 'have' to admit it, but they should :D (I'll pay for that one in chat, lol...). I am long the EURUSD with a pretty tight stop and the stop makes sense where it is. This is a pretty clean trade unless news blows it up. We'll see. The Why: price action tested support and...

riffster21

He guys, sorry I didn't post this fast enough. Hopefully the GBPCHF will pop up again to give folks an entry. This is a clean trade with lots of down hill potential. I am short @ 1.2255, my stop is @ 1.2315 and my target is set @ 1.2020.

riffster21 Updated 

Well, my original support was a tad too high, buy we are tracking the bounce the now. I'm still holding this trade and expecting to reach the top of the channel. The yellow line is my predicted price move. Happy Trading!

riffster21

The GBPUSD has been, well boring lately. Price action is pretty flat. This pair has been winding up for a big move. Most of us have seen this before. The GU usually makes huge moves after long periods of flat/sideways price action. Prices moves below support @ 1.2110ish have been quickly rejected. Some analysts believe that The BOE is protecting this level. All...

riffster21

It looks like a an ABCD pattern is forming. With the 2nd leg complete, a bounce to consolidate is likely. I will look for another entry short after the consolidation. I have close to 300 pips on this one, so I am making the conservative play and cashing out. I hope you caught this one! Until the next trade!