61.8% fib Tag

Unlike the previously discussed GBP CAD, if there is one FX pair that has precisely followed my road map over the last 6 Weeks it's this one. From the rally up to the Daily Triangle and the retrace down to the combined 200 MA and old fib level support followed by continuation of the rally back up to the triangle resistance, AUD:JPY moved beautifully and exactly as suggested. Yet I've still

The rally in Cable over the last couple of Weeks has shown considerable strength and though I have mixed opinions from a fundamental perspective, it is more than possible we'll see trade-able pull back from current levels. Judging how deep that pull back will be is a little more tricky, so here are a few charts to help you find your own conclusion:

Still not seeing any swing set-ups that are showing conviction but there are a few that could materialise over the next day or two. In the meantime I've added AUD:JPY to my watch-list because it sits at important levels on all time frames. There's no certainty right now as to which direction I'm going to trade it, if at all, but it's one of the more interesting long term charts at the moment and I reckon there will be some

With the U.S Markets closed today for MLK day volumes have been low and there really isn't anything substantial going on in any of the Indices or Forex Markets I watch. All existing set-ups detailed here over the last fortnight are either still in play or their respective moves are in progress. In fact, I wish I took some more of those trades because some have performed

As recently discussed, AUD:CHF has been on my watchlist for a swing short entry for some time, just waiting for the ideal set-up to materialise allowing for a really low risk short entry. Unfortunately, when the ideal entry occurred it did so overnight and by following morning a good chunk of the initial move had already taken place therefore skewing the ideal risk vs reward parameters.

AUD NZD brings back some good memories of the earliest days of this blog! At the time I saw the upside potential on this pair there wasn't much else around in the way of high probability trades. Even this swing long was a little nerve racking early on as it just took so much time to do anything, only being kept in the trade by the fact that I was getting paid positive interest due to the interest rate differential between the 2 currencies.