Update on Swing Trades; 18th October 2012

Update on Swing Trades; 18th October 2012

My normal practice is to enter details of opening/closing trades in the comments section beneath the Post detailing the analysis ahead of the trade.

However, there have been a number of comments and emails asking if there is a way I can communicate entries and close-outs using a live email service etc. Unfortunately, for now, that is not something I want to do, particularly because this is just my personal blog, not a service (which I guess would have to be FSA registered in some way), so the best option is to create new posts specifically detailing the entry/exit price. 

This way, email subscribers will receive the details in their inbox first thing the following morning, and anyone browsing the site doesn’t have to go searching through comments boxes to see the status of a trade.

So, here goes:

The 2nd half of GBP:NZD long was stopped out at breakeven. This gives a total aggregate profit of 79 points on the trade. The trade was at + 250 pts at one stage, but didn’t get the traction I was looking for and has failed to hang onto the Hourly 200 MA after multiple tests over a short period of time.

I’ve also just closed the USD:CHF swing short at 0.9250 for a profit of 85 points. I do think it will eventually go lower, but there is a possibility for a rally of some kind from current levels, and the 4 hourly bullish engulfing doesn’t give too much promise for further downside in the short term.

In regards to the EUR:GBP swing short I was interested in, so far, price action has not been favourable so for now this idea remains on hold.

CAD:JPY remains on the watchlist, but again, no positions taken as yet.

1 Comment
  • Pingback:This Week's Swing Trading Round-Up 20th October 2012
    Posted at 16:01h, 21 October

    […] the closure of the GBP:NZD and USD:CHF Swing trades, details and reasoning for both can be found in this post.Beyond that I’ve not really seen anything I like but remain interested in both EUR:GBP for a […]