Recent content by Pip Daddy

Usd/jpy There's regular bearish divergence here with price making a higher high while the oscillator has not. I'm really believe the yensabi will strengthen soon as look for this pair to come crashing down to its trendline support. Trade: I see two ways to trade this pair: Aggressive. Short...

With all due respect, I think asking whether to increase your trade size is premature. You've only been demo trading for 2 months. That is too short of a period to determine your system "stats" like max drawdowm, max losses in a row, etc. If you decide to trade your system live, keep your...

Usd/jpy The 117.00 level looks to be an attractive sell point here. This pair looks "overbought" as well. Since double zero levels are strong psychological support/resistance levels for this pair, I believe 117.00 will hold as resistance and this pair will weaken. I'm selling at market price...

Gbp/usd There is bearish hidden divergence here. Price has made a lower high or at least a flat high while the oscillator has made a higher high. After a pretty long rally, look for price to fall soon.

Eur/usd We're still trading in a pretty tight 100 pip range here. Immediate resistance is at 1.2720. It doesn't look like that will hold and the we'll probably see the pair to its upper trading range of 1.2750. There's nothing major coming out in terms of news so I'm looking to short and trade...

USD/JPY 4-Hour Based on the shooting star formation at the height of today's rally which was also near its last recent highs, I believe this move has peaked. I'm shorting market at 116.50. My stop will be 116.75 and profit target will be 116.00. This is a short-term trade. Yesterday, I talked...

USD/JPY 4-Hour Check out the hidden bullish divergence here. Price has made a higher low while the oscillator has made a lower low. I'm going to buy at 116.00. My stop will be 115.70 which is below the recent spike low. My profit target will be 116.50. As long as support can hold at the 200 SMA...

EUR/USD 1-Hour Notice how the pair has been trading in 60 pip wide horizontal channels. I believe this pair is a little overbought at the moment and will probably weaken before resuming its uptrend. I'm going to buy at 1.2780. My stop loss will be 1.2710 which is below its next support...

USD/JPY 1-Hour I’m going short at market price at 115.50. My stop loss will be above resistance (marked in purple) at 115.85. My profit target will be 115.00.

USD/JPY 4-Hour If this pair closes below 115.50, I’m going to sell. My stop will be placed 1 pip above the high of the breakout candle. For example, if this current candle closes below 115.00, its high is 115.72, so my stop loss will be 115.73. My profit target will be 115.00.

GBP/USD 4-Hour We have a breakout here! The pair has managed to close below its support. I’m going to wait for the pair to pull back up to test resistance and short at 1.8370. My stop will be placed above the high of the breakout candle at 1.8445. My profit target will be 1.8255 where the cash...

EUR/USD 4-Hour On this chart, the pair managed to close below its purple 200 EMA and its old support at 1.2690. Price looks to have consolidated at the moment. I think a short rally occur before the pair continues it trip downward to 1.2500. I’m going to short the pair at 1.2700. If you look...

EUR/USD 4-Hour The .618 Fibonacci retracement seems to be a strong support level. I also see hidden bullish divergence. Notice how price has made a higher low while the oscillator has made a lower low. This usually means the pair will head up. Look how the pink 50 EMA and .500 Fibonacci...

EUR/USD 4-Hour Last week, I had predicted that this pair would fall down to its blue 100 EMA and then bounce back up. Well I was wrong. Price fell to the 1.2720s level before bouncing back up. Looking at this chart, I have a feeling this pair is simply taking a breather before rising back up to...

USD/JPY 4-Hour Still bouncing around. Last night, I said I would sell this pair if it closed below 112.00 and target 111.50. While it did manage to close below 112.00, I did not take the trade due to the shape of the trigger candle (highlighted in pink). With its long lower shadow or wick, a...