50 MA Tag

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29 Sep

Posted at 23:34h in CHF, GBP, General by
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Following my 3 Week break I feel I'm trading at quite a comfortable and relaxed pace continuing to hold the DAX and GBP:CAD swing long positions. DAX as with other indices seems to be going through a correction at present but its quite clear DAX remains one of the strongest Indices. As you know, my system shorted FTSE back in May on the basis a medium to long term top may be in place. Bearing this in mind it could turn out the DAX Monthly break-out candle is little more than a fake-out and I am concerned that the huge profits seen on that trade will turn to dust, but I'm quite determined to stick to the plan on this one unless I see a real break-down in the technicals.

02 Jan

Posted at 21:05h in AUD, EUR by
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On scanning through the charts last night shortly after futures opened I selected a number of potential Swing Trade candidates worthy of further analysis. My thoughts, as posted on the ADVFN forum were as follows: AUD:CAD - Potential Swing short GBP:USD  - Swing Long, but not yet, see Weekly chart USD:CHF  - Possible falling wedge, confirmation should come quickly AUD:CHF - At support ready for Swing Long GBP:CHF -  A speculative Swing long if it finds support as it's still not hit my upside target set early last Year CAD:JPY - Maybe a short, but no confirmation yet and my fib levels are a bit hit and miss, but keeping an eye on it. EUR:AUD - For a short term trade on the short side if we can get an hourly close below current support - which is where price is right now (23:00 1st Jan), doubled up with the hourly 200 MA. If both of these fail to support price, should see more downside.

07 May

Posted at 23:26h in AUD, NZD by
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Since the AUD:NZD Swing Long from February never made traction from support, I've been watching the pair and waiting for a retrace to switch short into the trend. For me, the problem with retraces is being confidence that it is indeed a retrace of a macro trend as opposed to a genuine reversal of that trend. The current AUD:NZD chart

03 Mar

Posted at 18:31h in GBP, NZD by
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There are a few charts I'd like to post ahead of Sunday Night's FX Market Open and I'll start with GBP:NZD If there's one thing that can be said about the New Zealand Dollar, it's been one of the best Trending Forex Pairs during recent times. I say the best, because although other pairs have trended reasonably well, the New Zealand Dollar does so smoothly without huge whipsaws. There are certainly a few NZD pairs that I regret not participating in. For GBP:NZD the 15th Decmember 2011 high down to the 15th February 2012 low captured a 2000 point move with the largest retrace being just 350 points. Nice if you can get it! For the last 3 Weeks price has been forming a possible bowl shaped rounded bottom. I do find these long winded rounded bottoms difficult to trust but the advantage of them being you can usually spot very quickly when your trade is

14 Jan

Posted at 00:46h in General by
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Waiting for quality Swing Trade entries is like waiting for a bus.... After a long wait for anything remotely swing-able, 5 trades all turn up at once! It's certainly been a busy Week for both swing trading and day trading, but it's time I really took action to cut out the day trading for all but the highest levels of volatility because although it can potentially be more profitable, it generally under-performs over the longer term and is much more