Since the original EUR:GBP long term analysis detailed in this post it was always my intention to follow it up at the end of the first Quarter in view of a potential long term swing short that could yield a significant devaluation of the Euro against the British Pound.
The lack of updates from me continues! This is simply because I'm not seeing a trading environment that inspires confidence in committing to swing positions. You often hear people say "being flat is a position" and at the moment I think that rings true.
The set-ups I've detailed over the last Week or two
Having gone over the watch list a number of times tonight, there's almost nothing that can be traded with confidence without further price action to finalise some of the ongoing Swing set-ups.
You may recall that I've been trading the long side of GBP:NZD with success and
Probably posting this potential swing set up a little on the early side, but it demonstrates how far out I begin to plan a potential trading set up and allows me to follow and understand the way a particular Index or Forex Pair is moving before taking an entry.
If this plays out and offers a trade, it will be the
First of all, apologies for the lack of updates over the last Week. This has been due to other commitments taking up my time and compounded by the fact there were no new swing set-ups worthy of talking about.
Earlier in the Week I talked about AUD:USD and CHF:JPY as potential swing long set-ups, but neither of them played out so no positions were taken. CHF:JPY was particularly difficult because I really liked the chart but all other Yen Pairs looked bearish so this had me on
A couple of Week's back I posted details of CHF:JPY as being a potential swing long entry as the daily 200 MA offered support offering an initial upside target of 91.37 and a break beyond that would provide fresh air through to 94.44
That post can be found here.
It was my intention to talk in further detail with regards to the upside potential on CHF:JPY over the Weekend but unfortunately family circumstances prevented me from doing so.
So, as a late update to the situation here's a quick chart showing
It hasn't gone unnoticed by some that I've never posted an AUD:USD analysis.
There are some reasons for this, the main one being that I have a bet that AUD:USD will make all time new high's in 2012. The year started great and just a few Week's ago AUD:USD was within 300 pips of delivering my winnings, but the recent correction has concerned me a little.
So there we have it, I have an agenda and ultimately a
Another Week has ended where the positions I've chosen to run have not performed as well as some of those I intended on running but never actually entered.
Last Weekend I discussed (here) the bearish characteristics across all of the main Indices particularly