19 Jan This Week’s Swing Trading Round-Up; 18th Jan 2014
Last Week’s EUR:AUD short achieved target on Monday although I didn’t bank profits at the target due to other commitments but managed to get the trade closed later in the evening for a 176 point profit which is a pleasing result for the first 2014 trade and made more pleasing by the fact that price reversed direction from exactly my target print.
There’s currently no set-ups worthy of making it onto my empty watch list right now so I’ve no idea where the next trade will come from. Some future possibilities may include the following:
AUD:NZD if it can find support near current levels for a potential reversal although this set-up could take Weeks to materialise.
GBP:NZD for a short. It’s worth watching price grapple with the 4 hourly 200 MA to see if resistance in that area holds.
EUR:JPY has been selling off over the last couple of Weeks and I have my eye on 137.70 region as a possible downside target which is over 300 pips away from the current print.
So over the next few days I’ll continue to visit these charts and post further details if any become viable trades.
Hope your start to 2014 has been a profitable one.