EUR AUD Swing Trade Update and Weekly Trading Review

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.

  • RS2OOO
    Posted at 14:29h, 01 January

    After switching long on EUR:AUD at the all time trend line the position briefly turned to a profit before capitulating through the trend line where I closed for an approximate 30 pip loss. I’m pretty sure that during normal volumes this would have held and we’d have seen a much more powerful reactionary bounce from this trend line, but, if traders hadn’t spotted it they wouldn’t have traded it and this is what I believe occurred.

  • 1099 form
    Posted at 02:12h, 04 January

    whats your facebook profile?

    • RS2OOO
      Posted at 17:38h, 04 January

      I don’t have one.