Still not seeing any swing set-ups that are showing conviction but there are a few that could materialise over the next day or two.
In the meantime I've added AUD:JPY to my watch-list because it sits at important levels on all time frames. There's no certainty right now as to which direction I'm going to trade it, if at all, but it's one of the more interesting long term charts at the moment and I reckon there will be some
Due to the expected low volumes I've not entered any new major swing trades this Week or spent much time analysing new ones due to the fake moves common with this low volume end of year Week. As much of the Week was spent Day Trading I hope you liked the trades I've detailed over the last few posts.
So, a quick update on previously taken Swing Trades:
This is not my normal style of trading but is a valid method of trading so I've decided to give the trade a try and share it here.
EUR:AUD broke it's all time low this Week so I shorted it on an intraday retrace and will see how it pans out. Ideally I'm
I've been itching to post about my long term outlook for GBP:CAD for ages now and have been running a couple of small trades on and off the long side for a couple of Months now but haven't reached the level of confidence required to really jump into these in size or with real commitment.
Now that might be changing and here I present you with a trio of trading opportunities to make the most out of a bearish Canadian Dollar.
As any regular readers will already know, I had a wonderful swing long on this pair throughout the summer of 2011 and have since been waiting for it to show it's hand as to the next direction.
This Week there have been some developments and it's getting closer to giving us some clues as to whether it will finally reverse at the current resistance or at the very least offer a credible trade-able correction.
It's unfortunate that the AUD:CHF swing short was stopped out for a 100 pip loss making this trade the 2nd official losing swing trade since blog inception. As and when time allows I will re-evaluate the whole set-up that originally got me into the trade in order to find ways of avoiding a similar loss, but in all honesty, I've taken many winning trades from almost identical set-ups so might have to just call it a bad trade.
As recently discussed, AUD:CHF has been on my watchlist for a swing short entry for some time, just waiting for the ideal set-up to materialise allowing for a really low risk short entry. Unfortunately, when the ideal entry occurred it did so overnight and by following morning a good chunk of the initial move had already taken place therefore skewing the ideal risk vs reward parameters.