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
There are still a few possible swing set-ups in progress but only one trade was taken this Week.
Following on from the AUD:CAD analysis I decided to enter a short position based on TA across a combination of time frames, using the Weekly time frame for the longer term set-up and the 5 minute time frame for the actual trade entry with all other time frames offering something in support of the trade.
Finally a little bit of action this Week that resulted in a decent trade.
The Week started with my main focus still on GBP:CHF having previously been stopped out of a swing long position that can only be attributed to poor stop loss placement. The risk/reward ratio for a swing long entry had somewhat deteriated following
Unfortunately yet another empty Week from a Swing Trading perspective!
I've no idea whether it's my (incorrect) interpretation of what I'm seeing in the Markets, or whether all Markets are setting up for huge volatility, but this last couple of Months has not offered anything that fit my usual swing strategies.
Considering that for the last couple of Years I've averaged
It's been a very tricky Week to analyse new Swing trading set-ups, well, it didn't start that way but it certainly ended that way.
Following the GBP:CHF analysis detailed hereI was quite surprised to see a powerful break out the very next morning and after some indecision I decided to enter a long position on an intraday pull back. Initially the trade appeared to be
The main feature of this Week was closing the long term Swings I've been holding for quite some Weeks.
I covered the DOW shorts that my system had taken some time ago but unfortunately I messed up on the trade losing out on 700 of the points that had been available at the previous lows. What's more, I think DOW will probably go
Another Week has passed where no new positions have been added but there have been some potentially interesting set-ups and all that's kept me out of taking them was the possible impact this Weekend's Greece elections may bring to all Markets. There's certainly some volatility ahead that's for sure but how this will affect various correlated Market's remains uncertain for now.
Not a great deal to add this Week as I'm still holding the same positions as last Week and no new positions taken.
I struggled again from a day trading perspective, rather unnecessarily really because all I had to do was keep hold of the first day trade of the Week (DOW long from 12,070) and I'd have had a great Week!