The JPY had a very active Asian session and began to pull back hard in the UK session.  After it bounced at the previous day's Asian session low (Hint) an entry is found.  The stop loss was 14 pips and the idea was to get to the Asian session high for a retest.  As price moves up, we remove any risk from the trade and protect some profits.  This is critical to your trading success and peace of mind as a trader.  When price......

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An overall theme of USD weakness was evident throughout today's trading.  The EUR, GBP and CHF took off without us.  With the NZD having a much larger negative Trade Balance than expected, I was curious to see if I could find a reversal trade and ride it to the Asian session high or higher.The pair eventually set up - consistent with the USD weakness theme that prevailed.  An entry long is taken - allowing for a 17 pip stop loss and......

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A fairly light news session to begin our trading week.  The JPY moved down after an initial surge higher as the UK traders trapped breakout longs and stopped them out.  After a bearish reversal candle, and lower high, a short entry is taken.  The stop loss is 13 pips for a possible 74 pips to our Target 2.  This a great Reward to Risk ratio and stops of 15 pips or less are very attractive to us.Price moved down but stopped short......

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The AUD continues down retracing the post FOMC reaction.Once again as the UK session gets underway, there are no buyers above the Asian session high.  Price begins to move down and penetrates the Asian session low.  We wait for a retracement and find an entry with a Reward to Risk of greater than 3:1 to our Target 2.  There is no significant US economic news that we need to be concerned about.  Price makes its way down to our......

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After the FOMC announcement, the AUD moved up and today it moved back down.  It's good to be aware of the fundamentals, but it's more important to be able to read price, and exercise sound money management.  This involves limiting risk with small stop losses and ideally a Reward to Risk ratio of 2:1 or better - depending on the time of day.Looking at this particular setup, it was clear that you did not want to be a buyer above the Asian......

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The trading in advance of the long awaited September FOMC meeting has had currencies in very tight trading ranges.  The FOMC market buzz is for the tapering of the total monthly purchases of USTs and MBSs to be rduced from $85B down to $75B a month,  and remaining dovish on interest rates.  Traders are also talking about the possibility that the FED may adjust the threshold rate for unemployment lower.I was not expecting any trades......

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NZD moved up nicely after initially testing the breakout traders' conviction.  As price moved up with news out of the way, the initial stop loss is moved up to plus one.  As price continues to rise, profits are protected by structure.  Price moves through both our targets in one candle.  As price pulls back, the trade is closed at Target 2.Be aware of FOMC tomorrow during the US session.Good luck with your trading!Back tomorrow......

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A quiet news session early on... followed by an active US news session.  After the Preliminary U of M Consumer Sentiment figure was released, the NZD reversed and an entry short is taken.  Price penetrated the Asian session highs, but bounced at the session multi-pivot line.  As price indicated there were buyers there, we exit as price climbs to the Asian session high - for a modest gain.Trading is a very difficult profession to master.......

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The JPY set up nicely after the US Unemployment figure was released.  The JPY has been making a series of lower highs and double-topped early in the UK session.   It traded in a fairly tight range awaiting the US news.  Once the news was out of the way, it set up nicely allowing us a 2:1 Reward to Risk entry to our Target 2.  Price re-tested the Asian session lows once before dropping to Target 2 where we exit the trade.There......

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The JPY is a pair that I haven't traded in a long time.  It's a major pair and traders will find that it moves well in most sessions.  A European bank trader has been sharing with me a model used for trading the JPY.  It appears to work very well, so I'm back looking for setups in the JPY once again.After a series of lower highs a short is taken, with a 17 pip stop loss above structure.  Price moves down and bounces off the Asian......

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A very light news session, but we were able to find a trade on the NZD.  The NZD and the AUD both reversed upward at the same time.  The Kiwi set up nicely for us as it bounced off a technical level allowing us to enter long with an affordable stop loss in place beneath the Asian session low.  This met our minimum criterion of a  3:1 Reward to Risk to our Target 2.  Once price rose above yesterday's high, we raised our stop......

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A long lackluster session with a very late EUR trade setting up.  The EUR attempted to get above the Asian session high but was unable to stay there.  It finally pushed hard above - well into the US session with all the economic news behind us.  A stop loss under structure enabled us to have a better than 2:1 Reward to Risk ratio... which is our minimum once the US session is underway.As price moved up we locked in profit and eliminated......

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