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
This post is essentially to record my thoughts as opposed to being an outright prediction. Presently undecided whether I'm going to take the position as my previous Gold trade incurred a loss despite being one I was quite confident of.
My thinking.... short with stop loss on a daily close above
Today hasn't been particularly good to me. All open swing trades are now red!
AUD:NZD was +200 last Week, now showing -35
GBP:NZD was +120 within hours of entering the position, now showing -110
GBP:CHF was +140 when I got up this morning, now showing -45 on rumours of SNB raising the Euro Peg.
Amazing how quickly things can change. GBP:CHF has suprised me the most as it looked incredibly bearish yesterday and I remember thinking it could be one
Whilst we await the arrival of the Quad Witching Week volatility, here are a few FX pairs creeping in under the radar showing just a very quick picture of where they are and where they're likely to go...
Having taken a closer look at most of the Swing Trade candidates for next Week I've concluded that most FX pairs I'm watching need at least another session to determine their viability. By the same token so do Indices and although we are seeing strong bearish signs we've yet to see a confirmed lower high.
Flicking through a number of blogs it's quite clear that