30 Dec EUR AUD Swing Trade Update and Weekly Trading Review
Due to the expected low volumes I’ve not entered any new major swing trades this Week or spent much time analysing new ones due to the fake moves common with this low volume end of year Week. As much of the Week was spent Day Trading I hope you liked the trades I’ve detailed over the last few posts.
So, a quick update on previously taken Swing Trades:
AUD:NZD wasn’t going anywhere and due to the fact the Australian Dollar has shown strength across a number of AUD pairs I chose to scrap this swing short taking a 22 point loss.
The EUR:AUD short delivered well over the course of the Week and since spotting the trend line that originates from the beginnning of time I chose to close the position for a gain of +131 pips and take a risk by reversing long and running a tight stop loss as detailed in the chart below:
Going forward I have my eye on a number of GBP pairs all of which are at critical inflection points and I’ll post details of these possible set-ups over the course of the next few days.
In the meantime, if I don’t get a chance to add more content ahead of the New Year, I wish you all a Happy New Year and a profitable 2012.