As you know, half of last Week's EUR:AUD short was covered ahead of a bullish set-up on shorter time frames that could lead to a 2nd short entry.
On 4 hourly and Daily time frames, the areas detailed in the following charts show levels where resistance should be prevalent if the move down is to resume.
Another relatively quiet Week from a swing trade perspective with only 1 new position taken.
EUR:AUD was rejected perfectly by the 61.8% fib retrace detailed inthis post, however I wanted confirmation of this rejection before entering a position and
My previous Cable Swing Long on a pull back from the recent high proved to be a little premature as the correction we've seen has been much deeper and ferocious. If only it had been a swing short!
Glancing through the chart now there's a few things that have caught my eye
Selling on Indices is pretty much established now so unless you are already in swing shorts, entering positions now based solely on the targets detailed in this post is probably not worth the risk for the small potential reward.
However, if you are already positioned here are some levels that will
Another relatively quiet Week for swing trades, not so much due to the lack of set-ups but more because I didn't chase them as there was enough volatility to earn a fair few points out of day trading the Indices.
The only swing position I had open was