EUR

Recently I've found it more difficult than ever to establish whether some Markets are showing major trend reversals or sellable/buyable retraces of existing longer term trends. Volumes throughout the Summer across various Markets have been lower than usual and this can make deciphering a trend reversal or retrace even more difficult. There is no holy grail answer, because the action you ultimately take will be based upon

As the heading suggests, I've taken a few new trades this Week, but have struggled or am struggling with all of them. It's one of those Weeks where I'm left wondering if Markets are just completely random and only a look at previous trading results remind me that TA must play a major part! I came into the Week with one open trade, an AUD:CAD short, but on Monday my Day Trading system gave a long signal on the 5 minute time frame, so I decided to

As there's no new set-ups ready for entry right now (including AUD:CAD detailed in the previous post which still awaits confirmation), I thought I'd have a look through some old trades and found something interesting with EUR:AUD. It was originally taken (see post here) as a "Box Trade" short. Box Trades are fairly rare set-ups, but thus far every one that I've taken has been a success. With EUR:AUD I covered the position at the 61.8% fib (circled) which seemed sensible at the time but re-visiting the chart and I realise maybe

Hope your Week is going better than mine! Though my Swing Trades are all looking good and even the DOW swing short is still showing good profits despite this Week's 500 point rise, the 2 day trades I entered today left a lot to be desired! So I've had a scan through my watchlist and the following charts define those I consider most likely