USD

Only the one swing trade taken this Week, and exited 24 hours later. That was the EUR:USD long, the analysis behind which can be found in this post. It rallied almost straight away after entering and 24 hours later price was rejected from quite strong resistance at the top of the recent range, which happened to coincide with the triangle I'd marked out in the previous analysis.

USD:CHF has shown considerable weakness lately so I've been waiting for a suitable retrace to enter into the trend. Although bearish in the main, USD:CHF is entering oversold territory on some time frames so the aim here is really to test the water with a view to covering the position on any sign of incorrect timing.

Over recent Week's Cable has been trading a relatively large range of approximately 400 pips. The overall trend on the Weekly chart is down, but on smaller time frames there is no trend at the moment, only a range that will eventually break into a trend. Whilst price is trading in a range it's relatively common for traders to make a decision as to the outcome of that range, but in reality the range itself is proof that there is indecision within the Market. The only way to capitalise on that indecision is to ignore any overall directional bias and play the range as it forms. In the case of GBP:USD on shorter time frames that range has run a sequence of marginally higher lows whilst resistance has been repeatedly found at 1.5736 region. This could be indicative of an ascending triangle formation or looking at the chart the possibility of a bullish inverted head and shoulders pattern, but in reality these potentially bullish patterns can fall apart through time decay. Therefore, the long position I've taken from

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