Forex Trade Ideas – Wednesday, February 19

Sitting through an additional 4 or 5 full days holding a couple of small “long USD” trades, I’ve made the move here in the early morning to not only add to these – but pick up a few more.

Currently I’m holding:

long USD/CAD, as well short NZD/USD and AUD/USD

I’ve also added a small “face ripper position” in long EUR/NZD ( however bizarre you may think that is) at 164.83

I’m holding tight for the EU type currencies ( EUR; GBP and CHF ) as I’d like to see a more “convincing” move but both GBP and EUR are starting to show signs of exhaustion.

As well nearly ALL the JPY pairs are currently sitting at levels where a decent short position “could” be initiated but I’m still going to “tread lightly here” as these trades would suggest a further “risk off move”……and we know how that goes here as of late. The U.S Dollar looks painfully close to making a turn, but again we’ve got “Thursday” ahead – so in all honesty, not looking for too much action here today.

I’ve had little to say as of late, as I’ve not been actively trading but (as it’s my mandate) I must continue to push for profits as I go through alot of bamboo chutes, and of course don’t mind a good cold beer on the beach once in a while.

13 Responses

  1. Anonymous February 19, 2014 / 7:37 am

    Which time frame
    what strategy

  2. Franky February 19, 2014 / 7:58 am

    Good call on USD/CAD, going up in spite of US numbers…..since tapering red numbers ONLY.

    • Franky February 19, 2014 / 8:12 am

      …didn’t noticed bad CAD data…that explains the green candle.

    • Forex Kong February 19, 2014 / 8:28 am

      Thank you USD/CAD – for restoring my faith in what the hell is going on out there!

      These are the kind of entries we are “used to getting”.

  3. David February 19, 2014 / 9:30 am

    Wow, USD/CAD blastoff! I’m taking some off the table to be safe (before FOMC minutes).

    • Forex Kong February 19, 2014 / 9:37 am

      It’s about time no?

      Damn thing…..all of it – yet again just sitting there today.

      Ya a quick 100 pips in USD/CAD worth taking off the table for sure.

      • Forex Kong February 19, 2014 / 9:40 am

        USD finding i’ts footing here but then of course……FOMC.

        As it stands, I dont “expect” much in the language to change anything, and USD is due for it’s move higher regardless….

        Unless of course…they sand bag and suggest / hint at “tapering the taper” or additional stimulus….

        Trading with these guys so active / involved in markets is a total pain, as literally “they can change the fundamental outlook” in a single statement.

        it’s bullshit and a complete pain in the ass.

        • Forex Kong February 19, 2014 / 9:42 am

          Long EUR/NZD now starting to perform.

          Wacky I know – but there “is” method to the madness.

  4. Rob February 19, 2014 / 10:05 am

    I like your trades Kong, well done. I myself am long USD on the Aussie, CAD, NZD, and GBP… short Kiwi on Sterling and Franc and Short CAD on Euro…decent day, now I want to see what yen does… and the language in the minutes (in my view of course) will be what they have been saying for some time now… Taper on…what’s weird is the markets don’t want to believe it, or they think the Fed will have to keep the printers running for a lot longer than planned so the rest of the world doesn’t go bust if the cheap printed money goes bye bye…

    I am holding all into minutes as my strategies say to, and I always “try to” stick to the plan … : )

    Cheers Kong

    • Forex Kong February 19, 2014 / 10:09 am

      Sounds great Rob…..and thanks.

      Conviction goes a long way in this racket, so if you’ve got a plan (and can manage to stick to it) you just might fall into that “mysterious 5%” of traders that actually “make money”. He he he……..

      Sounds to me like you’ve got your head on right – great having you here at the blog.

      I’m holding through today’s “minutes” as well.

  5. Timothy Ames February 19, 2014 / 10:25 am

    Kong, getting married on March 1st, coming to your location for 10 days on March 2nd would love to come into town for lunch and some cold beers with you and your lovely bride to be. I’ll be at Azul Fives from the 2nd evening till the 10th afternoon. Hope we can catch up. T

    • Forex Kong February 19, 2014 / 10:44 am

      No shit???


      Yes of course….make sure to get a hold of me closer to the date and we’ll get things set up!

      That’s just great – looking forward to it.

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