Overall Friday was a light news session lacking high impact potential economic releases.   The first part of the UK session was lacklustre, but as traders reacted to disappointing US figures, the EUR began to move down.  Price moved slowly down re-testing yesterday's low before dropping to our Target 1, where we exit... when price bounces above.Summer draws to an end and Monday is a holiday in North America.  It's been a good summer......

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The majors didn't offer many attractive setups to my eyes during the UK session.  A series of lower highs made for an appealing setup in the EUR, but he gains were modest.  As price reversed to re-test the Asian session lows once more, we are closed - protecting our profits. One thing a trader never wants to do, is let an acceptable level of profit get away and  turn into a loss.  In this case, we had a wicky candle which warned......

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An active session as the UK traders returned from a long weekend.  Initially the UK traders pushed the CHF down and quickly reversed it with the German IFO Business Climate release, but the Asian session high is not challenged.  Price fades but cannot get above the Asian session high again.  A triple top forms and the US traders begin by reversing the market down.  Although I hesitate to enter trades in the middle of the Asian......

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The GBP had economic news to digest, then made its move lower.  It's always best to wait until the news is out of the way and look for the trending move to begin.  Let price tell you when it's underway.  Do not trade based upon the economic news outcome and do not chase price. After the news candle, we waited and look for signs.  After 2 wicky candles a very bearish engulfing candle followed.  Sellers were in charge and an......

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The UK traders pushed the EUR down and the US traders pushed it right back up. Positive economic news numbers out of Germany and the EUR moves down.  Negative unemployment numbers out of the US, and the EUR moves up...hmmm.  I hope as traders that you do not trade based upon the economic news numbers themselves... but you must be aware of the economic news releases pending and how significant they may be to the market in terms of potential......

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To trade or not to trade in advance of the FOMC meeting minutes? The NZD has been trending down all week and after rising in the second hour of the UK trading session, it could not stay above the Aug 13th low.  As it tried, sellers entered and the previous hour's range is completely taken out by a bearish candle.  This was an attractive setup and met our minimum Reward to Risk ratio of 3:1 to our Target 2. Price dropped and the trade was......

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A very light news and lackluster trading session until the US session got underway.  After the Prelim U of M Consumer Sentiment figure was released, the EUR began to drop.  An entry short is found as price closes below yesterday's high with a 3:1 Reward to Risk to our Target 2.  Price settled at the Asian session lows and the trade is closed.It's been another very good week of summer trading.Back on Tuesday if can find a trade.Good......

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Both the AUD and NZD were fairly active during the Asian session.  My preference when this happens is to look for the momentum to reverse and find an entry.   The AUD had difficulty staying above the Asian session high...meaning sellers were entering above.   After the second close above, a reversal sets up with a bearish candle which closes below the range of the previous 2 hours.  Price moves down where it consolidates just......

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An almost identical setup to Friday's trade with more pips as price moved closer to our targets.  We don't trade Mondays, but the past 3 sessions, the EUR has given a very clear 3 Drives pattern.  Today's setup was 3 pips short of our desired 3:1 Reward to Risk ratio to our Target 2, but the pattern of the setup was the same as Friday's...so why not go for it?  Trading is not easy but when the setups are so clear, it makes trading......

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A familiar pattern set up for the EUR in another light economic news session.  The UK traders began their session by quickly pushing price below the Asian session low, inducing breakout shorts, then pushed the market higher to run stops.  They then completed the "wash and rinse"... doing it a second time.  A very wicky candle at the Asian session high was created as sellers entered pushing price back down.  With enough orders......

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NZD moves higher in the US session as traders go long above yesterday's high.   The Kiwi set up nicely making a series of higher lows.  We are willing to accept a 2:1 Reward to Risk to our Target 2 once the US session begins.  We look for a 3:1 or better R/R during the early UK part of the session... before the US traders are active. Once the US session is underway this becomes a 2:1 R/R because we only have 4 hours left.It is never......

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An overall theme of USD weakness is evident in the charts today.  The NZD set up nicely an hour before the US traders began their day.   The NZD made 3 attempts but was unable to close below the Asian session low. A bullish candle followed and an entry is taken with a 13 pip stop loss.  As the US session was about to begin, the stop loss is moved up to plus one pip - in the event that US traders push the market back down.Price begins......

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