Trade ideas thread

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Good morning/evening/afternoon and welcome to Wednesday!
Any trade ideas, thoughts, views, you would like to share with fellow ForexLive participants, please do so:

(And don’t forget – the only economic data due today in this timezone is from Australia at 0030 and 0130GMT – AUD orders are here for those with an interest)

Author: Eamonn Sheridan

Eamonn Sheridan worked with Bankers Trust Australia for 13 years as a Spot foreign exchange dealer, trading across all major currencies and all time zones. He rose to a Vice President position, running spot operations during the busy European time, leaving the bank just prior to it being sold to concentrate on running his own business in the ‘real world’! The markets, however, had him hooked – he continued to trade equities, CFDs and then on to futures, giving him broad experience across financial markets. He is now active in FX and equity index futures as well as writing for ForexLive™. Eamonn is a graduate of The University of Melbourne in Australia and lives in New South Wales.


All|Asia Pacific

Ideas Corner|trade ideas

Eamonn Sheridan


  1. Short a basket of CCY’s vs Yen, H4 look toppy / overbought stochastics and UJ/EJ running in to 61.8% fibs. Also US10’s look to be slowing down and will need a major catalyst to break above 2.75% so help if they start to cool off a touch. Nikkei looks strong but is also facing resisitance.

  2. good morning eamonn…. as to trading ideas, i’ve been looking at XAUUSD and EURJPY and since yesterday and would like to say EURJPY is ripe for a retrace (not reversal) pullback on shorter time frames. but on daily it’s up for another couple 100 pips. but EURJPY only retraced 70 pips so far and it’s right back up where it dropped from and USD/JPY shows no signs of giving up the horns. so honestly, i have no idea why these 2 pairs seem to be all doped up. ;)

    as to spot gold (XAUUSD), the trickster took me to the cleaners yesterday. i was convinced the only way was up to at least 1,350 if not 1,370. so i still want to say it’s a buy but i think i need to sort out my technical signals first as there seems to be too many contradictions. i get the sinking feeling something is not right with my setup.

  3. Hi Grasshopper – gold is always a tricky beast

  4. Will leave the actions till German data. Favour Eur but looking exhausted. A good read on Europe data could offer some rejuvenation though.

  5. It seems that you’re right about that, Jeremy. The action in US bonds has had the effect of keeping the yen and the British Pound higher at the expense of the Australian dollar.
    Not sure of it being a coordinated effort but it sure seems that way.
    Either way, the natural course of events will win out and the awaited rebound in AUDxxx will come swiftly.

    We are now waiting for the AUDCAD to test the ten day simple moving average for a signal to get long again on the pair, while looking to sell GBPJPY as a mirrored complement to the pair.

    Best of luck, everyone!

  6. eamonn, i am curious. how do you approach trading XAUUSD? do you only consider fundamentals? do you use some kind of technical approach that you can share with us? i feel like i hit a wall with XAUUSD at the moment. so frustrating. any hints appreciated. ;)

  7. CBA & Leighton reprting bumper profits..Leighton’s has tripled.. I wonder if this will have a positive spin on the AUD..being a good sign for the construction industry…?? Hmm
    Gold..might try to test 1330..if it fails.. 1312 is next on the cards.
    The news from India …not so good.

  8. Who was that guy who said recently he had no idea how gold trades? I can’t remember, but ditto.
    It is very responsive to changes in interest rates and interest rate expectations (usually)
    Stay on top of the news flow (very difficult to get ahead of the news flow in it though – IMO)
    I view technicals as a ‘good idea, good input’ not a carved in stone unchanging view – if the techs say it should do something and it won’t, then its likely the view is wrong (ps. goes for all instruments)

  9. Hey Eamonn let me help you out with that guy lol

  10. LOl – thanks Ryan – I literally could not remember ….

  11. I didn’t either but it was pissing me off so I dug it up haha

  12. Ahaha…I thought you were being sarcastic too.

  13. Tom – I wish I was …. hahahahaha
    But no …..

  14. good moring all! Hope everyone slept well :)… I don’t think last night’s US data is strong enough to install fear of tapering so AUD may not fall much longer…with that being said I think buying below 0.9 would give a favorable profit/loss ratio if using 0.88 a low point.

  15.’s my bold call on gold…got close to 1312. Below 1285 by week’s end if jobless figures come in better then expected


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