Author: RS2OOO

Here's a setup I like trading but unfortunately missed as my time was being spent building this site! First of all, I'd like to say that in the bigger picture, I believe Indices are likely to trade a large range making it difficult for permabulls and permabears alike. Although I believe long term tops are in place on Indices I trade, I don't think we are likely to see massive moves to the downside so soon after this summer's large sell-offs.

Approximately 18 Months ago I projected a USD CAD low in the region of 0.9400 - 0.9460 This low was subsequently achieved earlier this year but this came without any real capitulation which kept me out of the long entry I'd waited so long for. Neither did my generally reliable system give a long signal on the rise from that low, so I post this analysis with relative caution.

Finally found time to have a quick run through my charts looking for something interesting but have been met with disappointment. There just doesn't appear to be any tempting low risk / high probability setups presenting themselves right now. So, I'm going to focus on one to watch for the future. AUD:JPY is trading a choppy up trend on the weekly chart, having twice been rejected from the 2007 high - 2009 low 61.8% fib retracement level.

Hello and welcome to my venture into blogging about trading Indices and FX Markets! Having been a Bulletin Board Thread owner and main contributor (20,000 posts) for the last couple of years on a hugely successful forum, I've often considered entering the blogosphere and going it...

Swing short entry taken at 126.50 based on daily channel resistance and 4 hourly fib retracement level. Daily support beckons just slightly below the current price level, however it's been somewhat abused recently and I don't expect it to hold. A retest of the March 16th 2011 "Tsunami" Low would make for an ideal target