Tagged "day trading"

Daily Outlook: GM hutters and welcome back for another week. Last week we saw a lot of bearish movement with the EU as the dollar made gains against most major currencies. This week opened with a 25 pips downside gap (which as already been closed) followed by a quick rise as Euro bulls have come out early:

We don’t expect the Euro bullishness to last for too long as our primary forecast is for the dollar to continue to gain against other currencies. We will, as always, continue to trade what the charts give us and that starts with an aggressive rising trend support that has developed on the 4h charts since market open, shown on the chart above as the bottom blue line. On a downside break to this support we will look to get short on the pair until a new falling resistance forms and is broken. The biggest threat to our bearish outlook at the moment, from a technical standpoint, is the oversold nature of the pair after last week’s drops.

Trading Idea: Primary trade is a short on a downside break of blue rising support (currently at 2720 and rising) with targets at 20/25/25/30 for 95 pips profit. Emails will be sent out to Pro subscribers on the break.

Our secondary trade has yet to develop, but will be a break of falling trend resistance after the primary trade occurs.

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Daily Outlook: We don’t normally trade on Fridays… and today is no exception, especially with a full day of news capped off with the first NFP employment data of 2012 due out around 13:30 UTC today.

Non-farm payroll data, which many traders look to as an indication of how well the overall economy is doing (the more jobs that are being added the better the economy is doing) is forecast to come in at 150k, an increase of 30k over the last report. Despite this slight increase in job creation unemployment is forecast to slip to 8.7% from 8.6% as overall cuts in employment outpace the job creation process.

Trading Idea: We normally don’t trade on Fridays, and with the first NFP of 2012 due out today we consider any trading to be extremely aggresive and will sit today out. CandlePRO and Swing signals will continue to function as normal for PRO members.

Have a great weekend all and we will see you again Monday!

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Daily Outlook: Our primary trade was activated from yesterday’s signal as the rising trend support we were watching was broken at 1.2962 (email alert was sent out at 1.2952 which is about where we entered). Trade is currently +25 in the profit and has gotten up to +50 in the profit. We have moved our SL to break even and will look to close out and go long if our secondary trade is triggered today.

We are tracking a new rising trend support (bottom blue line) that we are short-term bullish above (though we still have our short from yesterday open). Price has not moved much so far this week and, in fact, is back at its starting point from the 2012 open. It appears bulls and bears are still testing each other out in this thin still-close-to-the-holidays volume.

Trading Idea: Primary trade is a short on a break below our new rising trend support (currently a 1.29 and rising) with targets at 20/20/25/30 for 95 pips profit. We will keep our current short open for these targets unless the secondary trade is triggered.

Our secondary trade is a long on another failure above 1.2900 with targets at 20/20/20/20 for 80 pips profit. We will be looking for another reason to close and get short on this trade, though, most likely a new rising trend support that forms and is broken.

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Daily Outlook: No trade taken yesterday as bulls came out swinging in 2012, pushing price off support which means that our entry signals (yesterday’s primary signal was a short on a break below rising blue trend support) were not triggered. Today we are looking for more of the same but are also now tracking a key resistance level above price around 1.31.

Trading Idea: Our primary trade will be to get short off a break of the rising trend support (currently at 1.2950 and rising) with targets at 20/25/25/25 for 95 pips profit. Pro users will receive email notifications when the break occurs.

We will also look to get long on a topside break of 1.31 with targets at 20/20/30/30 for 100 pips profit.

PRO users will receive email alerts when Support and Resistance levels are broken.

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Daily Outlook: Welcome to another year PipHutters! Thanks to everyone for making 2011 another great year – we are now in our fourth year and PipHut would not be the same without YOU!

It is hard to say if the markets will be slow or volatile this week – trading will remain thin and when volume is light like this it can either putt along without clear direction or make large moves on smaller orders. Either way we are tracking the rising trend support shown below (bottom blue line):

Trading Idea: Our primary trade will be to get short off a break of the rising trend support (currently at 1.2928 and rising) with targets at 20/25/25/25 for 95 pips profit. Pro users will receive email notifications when the break occurs.

We are not looking for longs at the moment ourselves, but aggressive traders could look at the blue rising support to get long off of, targeting 20/20 pips at a time.

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Daily Outlook: Yesterday’s short was triggered at 1.3048 on the break of rising trend support (email sent to subscribed pro members) and all targets were quickly hit for 80 pips profit. The pair actually continued to drop for nearly 170 pips but given the low end-of-year volume we were happy taking our 80 pips into 2012!

Trading Idea: We will not be trading today as there are only two days left in 2011 and markets are whisper thin, meaning even slight rumors could whip you out of a position right now. Aggressive setups are shown on the chart above and if we were trading we would look to get long on a break above the falling trend resistance shown in blue at the bottom of the chart.

Signals will resume again Tuesday, January 3rd and we will embark on yet another year together! Thanks for making PipHut the #1 forex community year after year – we would be lost without you all :). CandlePRO and PRO S/R Breaks and Bounces will continue to work as normal and S/R charts will be updated for PRO members.

See you in 2012!

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Daily Outlook: Markets have been at a dead stop for the past several days as a very large chunk of traders, banks and funds are done trading for the year. In our little impromptu survey yesterday 50% of respondents said they were done trading for the year – and that is just of those still checking the analysis! We could see a bit more action today, though, as we have our last real day of news before the end of the year:

Trading Idea: The pair did not break out of its large pennant consolidation pattern yesterday and instead continued to bounce on top of its rising trend support. We stayed flat as we are only looking for a break of that rising trend support at the moment and when that happens we will target 20/20/20/20 pips for 80 pips total, keeping our SL tight to avoid the thin market whipsaws.

That is the only trade we are looking for given thin holiday volume but the more aggressive setups are also shown on the chart above. Of course PRO members will receive email alerts when S/R lines are bounced or broken.

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Daily Outlook: Welcome back PipHutters! Thin holiday / end-of-year markets out there as prices have basically been consolidating for the past several days. Many banks will re-open today around the world so we could finally see some movement and volume today though we guess that between 50-70% of traders are done for the year and will pick up again in 2012. That is not a scientific guess – just our experience.

Trading Idea: For traders looking to brave it today we are tracking a rising trend support and a falling trend resistance (blue lines) that are converging together to form a giant pennant consolidation pattern. The preferred trade out of this setup is a short and we will look to sell on a downside break of the rising support level (PRO members will receive email alert if subscribed) with targets at 20/20/20/20 pips for 80 pips potential. Keeping it tight to reflect the think markets.

That is the only trade we are looking for on the EU today, though of course aggressive traders can look to take longs off of rising trend bounces or shorts off of falling resistance bounces.

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Recap: Three targets were hit on yesterday’s primary short for +65, but we were going for +95 so when price reversed we closed out our position at the second target for +40.

Daily Outlook: Markets are getting razor thin as the holidays approach and traders are taking the end of the year off. We are done trading for this week and there will NOT be a signal tomorrow OR Monday (S/R charts, CandlePRO and email alerts will still continue to work and be updated for PRO members). Analysis will resume again the 27th but we will only be trading if there is a setup worth trading – always our criteria but the setups will be a little less appealing a few days before year’s end :)

Price has bounced off of rising trend support (bottom yellow line) and is currently threatening another run up. We are primarily bearish on the pair and, if we were trading today, would be looking for reasons to get short on rallies.

Trading Idea: We are not trading today due to thin market conditions around the holidays. Aggressive setups shown on the chart above, and you can add to that a short on a break below bottom yellow rising trend support as an aggressive setup.

Happy Holidays and see you on Tuesday!

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Daily Outlook: We finally saw a decent correction against dollar strength yesterday as the USD fell against most currency pairs yesterday. EU only rose 150 pips or so, but AU and GU both tipped out near 300 pips on their rallies! No trades were triggered for us on the EU yesterday as the pair never broke below its rising support for the primary and we never saw a long signal that gave us the warm and fuzzies.

Trading Idea: We think this rally has legs and could reach as high as 1.34 before week’s end – but there is still plenty of room for minor bearish corrections and at the moment we are tracking a blue rising trend support that we will look to get short off a break of with targets at 20/20/25/30 for 95 pips. This support is currently at 1.3100 and rising (PRO Members will receive an email alert).

Of course longs can also be taken off of support bounces and we will look to do this off of small timeframe 15m and 30m charts with confirmation (e.g. candlesticks).

1.32-1.3220 is the next solid resistance.

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