NZD

I put so much energy into day trading the volatility over the last Week that I actually missed out on some reasonably good swing trade set-ups that were previously discussed here. One of those was AUD:USD for a swing long, I actually entered that position but got frightened out of it for a small profit as the markets became quite uncertain and jumpy surrounding Cyprus and Europe news.

GBP:NZD was a potential swing long candidate a couple of Months back and although it rebounded from my "line in the sand" support, it sliced through some quite strong supports on it's journey there so I gave it a miss. One of those failed "supports" was in the 1.9510 area and you can see from the chart below that it failed to provide support in July and again in August.

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

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

Since the AUD:NZD Swing Long from February never made traction from support, I've been watching the pair and waiting for a retrace to switch short into the trend. For me, the problem with retraces is being confidence that it is indeed a retrace of a macro trend as opposed to a genuine reversal of that trend. The current AUD:NZD chart