Today was a cliche day in Seattle, cold and rainy. I saw it as an opportunity to partake in a O’Keefe family tradition, Ivar’s Fish Bar on Pier 54. If Seattle is known for anything it would be rain, coffee and Ivar’s Fish Bar on the waterfront. When I brought my Wife to visit Seattle for the first time we drove straight from the airport to Ivar’s, it’s that good.

Since opening in 1938 Ivar Haglund’s fish bar has become a Seattle institution.  My entire life I’ve measured other fish-n-chips against the Ivar’s standard and nothing comes close to their Halibut-n-Chips.

I ate out on the pier. It was raining, windy, 39 degrees and I loved every minute of it. If you come to Seattle, do not miss Ivar’s or you’ll miss out on something special.

If you let me know your coming, I’ll meet you there!

Is the USD/SGD Preparing a Breakout?

Here is a currency pair I’ll wager many of you don’t look at regularly but a nice channel is shaping up on the USD/SGD which may breakout soon. On the daily chart we see a head & shoulders pattern which broke down about two weeks ago followed by a consolidation range. The range can break in either direction but the overall trend on the daily chart appears to be up and Friday closed with a bullish engulfing candle giving me a bias to the uptrend continuing. The pair is currently consolidating on the 38.2% Fibonacci level within the uptrend between $1.4149 and $1.5575.

(Click the charts for a larger view)

As of Friday’s close, the 60 minute chart was bunching up near the top of this channel. Should the pair break out to the upside, I think a decent technical price target could be $1.5300. We will have to wait and see what happens.

What do you think? Share your opinion on this trade with us by clicking here, I’d love to hear from you.

About the Book

I appreciate the interest in my book through all the comments and email, I’m very excited about it. Peter asked if I had any idea when it would be out and I’d like to address that question. Currently we are still in the writing and editing phase. I don’t believe the book will make it to print until late this year or early next year.  I will keep you updated via this blog as progress is made so stay tuned.

I’m writing this book for the struggling trader or those who work a day job. This is not an academic book. I don’t explain what a pip is, how the FX market got started or what the economic drivers of XZY currency are.  My goal is to give you actionable trading advice from my own experience with some methodologies you can make your own and hopefully get you on track to profitable trading.

-Ryan

Photo Credit: anneh632

IMPORTANT NOTICE: These comments are for information purposes only. My opinions or other information contained in this post do not constitute investment advice. It should not be understood as a direct recommendation to buy or sell any currency contract or other investment vehicle.   Forex trading involves substantial risk of loss and is not suitable for all investors. You could loose some or all of your investment capital, your shirt, shoes and possibly end up sleeping in a rusty old van down by the river. If you do, it’s not my fault you dig?