Today hasn't been particularly good to me. All open swing trades are now red!
AUD:NZD was +200 last Week, now showing -35
GBP:NZD was +120 within hours of entering the position, now showing -110
GBP:CHF was +140 when I got up this morning, now showing -45 on rumours of SNB raising the Euro Peg.
Amazing how quickly things can change. GBP:CHF has suprised me the most as it looked incredibly bearish yesterday and I remember thinking it could be one
Whilst we await the arrival of the Quad Witching Week volatility, here are a few FX pairs creeping in under the radar showing just a very quick picture of where they are and where they're likely to go...
It's been a particularly good Week to both Day Trade and Swing Trade Forex Pairs and Indices since we have seen a return of much needed volatility to the Markets.
That volatility made for some quite great trading performances but as far as results go, I've only really banked the profits from
Just a quick update on these 3 charts that I've been following closely this Week.
NZD:USD was presented last Weekend as a viable Swing Short but I didn't take a position myself simply because I'm already quite heavy on the short side of NZD across other trades.
After the rapid sell off earlier in the Week, Price has recovered equally
I'm currently Flat Indices having held long positions throughout much of today but with little going on in the way of new swing set ups I thought it worth sharing a couple of DOW and FTSE charts to give an idea of the type of things I watch intraday ahead of entering Day Trades.
Because this Blog is predominantly a way to
We've already discussed the Trending Characteristics of The New Zealand Dollar in this previous post analysing GBP:NZD so I'll get straight to the point on this one.
NZD:USD is showing some fairly classic signs of a short term top on multiple time frames and although I don't think price will play out quite like my annotated price projection, it gives an idea of
There are a few charts I'd like to post ahead of Sunday Night's FX Market Open and I'll start with GBP:NZD
If there's one thing that can be said about the New Zealand Dollar, it's been one of the best Trending Forex Pairs during recent times. I say the best, because although other pairs have trended reasonably well, the New Zealand Dollar does so smoothly without huge whipsaws. There are certainly a few NZD pairs that I regret not participating in.
For GBP:NZD the 15th Decmember 2011 high down to the 15th February 2012 low captured a 2000 point move with the largest retrace being just 350 points. Nice if you can get it!
For the last 3 Weeks price has been forming a possible bowl shaped rounded bottom. I do find these long winded rounded bottoms difficult to trust but the advantage of them being you can usually spot very quickly when your trade is
It's fair to say I spent much of the last Week sitting on my hands. The 2 currencies taking centre stage have been the Japanese Yen and the Swiss Franc which is exactly as I suggested in last Week's trading review. As the latter has some quite significant risks attached to it in the form of SNB's (so far weightless) promise to intervene, only the short Yen trade offered