The GBP set up shortly after the US traders began their day.  There was a clear rejection at yesterday's low as sellers entered pushing price down.  After a second close below the Asian session low, an entry is taken. Price tested the Asian session low once more before dropping to its daily low.  As the CB Consumer Confidence news was about to be released, price continued to drop.  We protect a good part of the move in advance......

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The EURGBP set up nicely for us and produced a favourite reoccurring pattern that we look for while in a trade.  After  putting in a wicky candle low, we patiently awaited further signs that price would move up. With a very affordable stop loss, we enter the trade and vigilantly watch price as it reacts to each of the levels marked on the chart.  Price continues upward before finally stalling at the Asian session highs.  We are......

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The CHF set up nicely for us after the European economic news was out of the way.  It clearly had difficulty staying above yesterday's high and began to drop.  When price went below the Asian session low, approaching the session low, with the US traders about to start their day, we tightened the profit stop to lock in 25 pips of profit. US Unemployment and Core Durable goods numbers were both due out in 30 minutes too.  As the US traders......

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Another very light economic news session with a mild USD weakness tone so far this week - hence the gold talk.  The UK traders moved the CHF up and the US traders bring it right back down.  We were hoping for a larger move either direction, but with little news so far this week, it didn't happen.As the US traders start to bring the CHF down, an entry is taken when normally there would be lots of US economic news.  The stop loss is......

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A very light news session to end the week and an overall subdued trading session - with tighter ranges being put in by most of the majors.  The GBP set up requiring a stop loss of 19 pips for a potential 70 pips of reward.  The setup is a familiar one, but the reward didn't pan out.  The UK traders pushed price above the Asian session highs twice..each time pulling it back.  After the second pullback we enter long hoping to get......

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Modest gains in CHF before Mr. Bernanke's speech today.  The key here was to find a comfortable trade setup, keep the stops tight and get out (to be conservative) before Mr. Bernanke's speech - which can cause enormous volatility.  The CHF began to move up with its inverse...the EUR moving down at exactly the same time...confirming the trade.  The long on the CHF required a 15 pip stop loss and in retrospect the EUR was the better......

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A session of USD weakness followed the economic news releases.  The CHF and GBP (not shown) set up for very nice trades.  After the European news, it was clear that the CHF could not close above the Asian session highs (hint).  Price dropped to near the Asian session low which set up our trade.  We had further confluence with a tool we use and with a stop just above the session high, we had a greater than 3:1 Reward to Risk ratio......

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GBP produces some fairly quick pips with USD showing strength.  Very light news session in advance of the US session commencing.  The GBP has had an increasingly large trading range recently.  This trade setup had the makings of a much larger move than what manifested.After making a series of lower highs, the pair began to move up and down as the UK traders took charge.  After breakout shorts had been tested twice, an engulfing......

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AUD moves down once the US traders begin their session.  Very little economic news in advance of Mr. Bernanke speaking and the FOMC minutes due out shortly.  This will have the potential for extreme volatility.The AUD put in 2 lower highs early in the first half of the session and proceeded downward.  A modest ranging session until the US traders joined in.A trade short with a greater than 3:1 Reward to Risk ratio to our Target 2  is......

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EURGBP produces a greater than 4:1 Reward to Risk ratio setup following the UK economic news.  The pair explodes upward after the UK economic news is released. When this type of reaction occurs it frequently (not always) will provide an opportunity for a reversal move. In this case, there were a confluence (not shown) of signs that the pair was topping out.   My students should be able to recognize at least 4.  Trading is an extremely......

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A large move down for the AUD during the Asian session after the RBA rate statement.

A favourite pattern set up during the UK session.  As the AUD continued to set lower highs, a short entry is taken.  This trade is greater than 4:1 Reward to Risk to our Target 2.  With a stop just above the reversal high, we first attempt to make it through the Asian session low.  Price eventually closes below it, then reverses with a wicky candle.  When price begins to move up and closes bullishly above our Target 1, we......

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