17 Sep This Week’s Trading Round-Up 15th September 2012
Apologies for the delay in updating on this Weeks Swing Trades, or, lack of them should I say!
The only trade taken this Week was the EUR:AUD short which was unfortunately stopped out. From a news stand point, the decision by the Fed to continue pumping vast amounts of money into the markets with no end date spurred the Euro to continue it’s rally in most Euro crosses, and thus due to the low potential reward envisaged on the EUR:AUD short my relatively tight stop loss was taken out to the tune of 100 points.
I still believe the pair will retrace some of the recent rally, but my view isn’t as well supported by technical’s as it was a Week ago, so before my next attempt at shorting this pair, I’ll let the Market lead me into the trade.
I think the break of 2012 highs across stock Indices now sets up the potential for continued strength in equities over the medium term and increases the probability that we’ll be ending 2012 at multi Year highs. In the very short term I’d expect to see a pull back over the next day or 2 and some kind of consolidation before another major move higher. It’s frustrating that I’ve been calling the equity markets right for some time on my forum, but haven’t participated in the way I probably should have done.
In view of the vast amounts of cash the Fed has now promised to create, I’ll probably be casting my eye over a few of the USD pairs awaiting technical set-ups for short entries, though for now I’m not sure how clear cut this strategy will be.
In the meantime I’m going to see how the various markets settles and consolidates over the next few days before looking to commit to some new swing trades.
Good luck with your trading!