Day Trading Signals May 7 – Daily Tally +10 VT +22 News


BK NEWS TRADES with our Economic Data Projections   

Videos on How to Trade our 3 BK News Strategies 

How To Trade AJAX

How To Trade Crowd Fighter

How To Trade C – Trade 

BK Day Trading Chat Room Results  5/05

BK Trading Room Results



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****NOTE we are going to trade C-Trade and Crowdfighter on 15 Minute rather than 5 minute delay on all pairs today***


Date Currency
GMT Strategy
May 7 – Th AUD/USD AU Employment 1:30 C-Trade
May 7 – Th AUD/USD AU Employment 1:30 Fighter



Last 24 hours Results
Crowd Fighter 





Here’s what we are looking for in tomorrow’s economic reports (May 6, 2015) – Good Luck Trading!

1. Australian Unemployment Report (9:30PM ET) Bullish AUD — Potential upside surprise given rise in employment component of manufacturing and services ISM

2. Chinese Trade Balance (TBD) No Trade — Will be very market moving but Chinese data is difficult to predict 

USD/JPY Headed for Fresh 7 Year Highs

USD/JPY Headed for Fresh 7 Year Highs

Chart Of The Day

USD/JPY Headed for Fresh 7 Year Highs

USD/JPY took out the 120 level with ease today despite a lack of U.S. data. Talk of tighter monetary policy drove the U.S. dollar higher against most of the major currencies. This morning Dallas Fed President Fisher said that early and gentle rate increases would be wise. This follows yesterday’s comments from Fed President Lacker who believed that June was an attractive time to raise rates. Based on these comments and our general outlook for US monetary policy, we believe that USD/JPY will hit and exceed last year’s high of 121.85. U.S. rates are on the rise and stocks are performing well, making U.S. assets even more attractive. A softer retail sales report on Friday could sap some of the gains but we view any pullback in USD/JPY as an opportunity to buy at lower levels.

Taking a look at the daily chart of USD/JPY, the break above 120 puts the currency pair on track for further gains. However there are a 2 main resistance levels to be mindful of – 120.80 and 121.85. These levels halted previous rallies in the pair. Support is at 120.