Toggle

Swing Trading & Technical Analysis

Charting The Future..s!
Page 1 of 40
Next
Open
GBP:USD Swing Long – Short Term Trade; 24th Nov 2014

Having day traded the short term range in GBP:USD throughout much of last Week, this morning I entered a long, initially planned as a day trade but after further thought decided to give it some breathing space, albeit with one eye regularly checking up on it.

The main trend is clearly down and has been for some Months but a time has come where practically every time frame is showing almost extreme levels of positive MACD divergence. This in itself is no guarantee of a reversal, but should lead to a correction of some kind, and even a weak correction is still adequate to take 100 pips or more.

Here is the 15 minute and 4 hourly time frames demonstrating that divergence:

GBP USD 15 min 24th Nov 2014

GBP USD 4 Hourly 24th Nov 2014

The 4 hourly chart also shows an area of S/R approximately 40 pips above the current price which should be a fair initial price target from which a further insight into buying strength can be determined:

GBP USD 4 hourly res 24th Nov 2014

The Weekly time frame gives a better view of price hovering around the 61.8% Fibonacci retracement level taken from the July 2013 to July 2014 rally, again adding reason that buyers may appear around current levels even if only for a trade-able dead cat bounce.

The trade was entered at 1.5646 based on the 5 minute time frame (as this was originally intended to be a day trade) thus currently shows a profit of around 50 pips. I’ve since moved the stop loss to below last Week’s low but this has only been placed as security if selling suddenly resumed. It would be my intention to scrap this trade as soon as signs of further weakness become apparent.

Posted In: GBP, USD
Comments No Comments
Open
GBP:NZD Swing Long 4th Nov 2014

After some Months without seeing a single swing trade opportunity I felt comfortable with, I’ve finally taken the plunge with a GBP:NZD swing long.

Although its a choppy pair to say the least, the overall trend has been up for almost 18 Months now even though a glance at the […] Continue Reading…

Posted In: GBP, NZD
Comments 2 Comments
Open
The Efficacy of using Stop Losses: 11th May 2014

Following a discussion on the ADVFN FX forum thread I thought I’d reproduce my post here so as to keep it for future reference. Please note that some of the statements herein are taken from a research paper written by William K.N. Chan, former Head of FX Strategy in HSBC […] Continue Reading…

Posted In: General
Comments Comments Off
Open
Update To AUD:GBP Analysis; 27th April 2014

Having previously discussed a long term AUD:GBP set-up in this post in its earlierst stages back in February it’s time for an update as price action continues to take the support the trade idea.

This trade could be the pre-cursor of a future box trade meaning this is quite a […] Continue Reading…

Posted In: AUD, GBP
Comments Comments Off
Open
Belated Update, Nasdaq and USD:CHF; 14th April 2014

Apologies again for taking so long to provide an update, just haven’t had the time to concentrate on swing trading.

The last swing trade taken for the blog was the AUD:CAD swing short which and this was stopped out on the day it printed its high prior to the small […] Continue Reading…

Posted In: AUD, CAD, CHF, SPX, USD
Comments Comments Off
Open
GPB:CAD, AUD:CAD & EUR:CAD Analysis; W/C 24th March 2014

Following a sustained weakness in the Canadian Dollar a number of CAD pairs are showing signs of exhaustion which happens to coincide with Fibonacci retracement levels and areas of potential short to medium term resistance.

In particular there are 3 pairs that have my interest so I’ll start with the […] Continue Reading…

Posted In: General
Comments 1 Comment
Open
Gold, EUR:USD And USD:CHF Analysis; 10th March 2014

Firstly an update to my previous post where I cited GBP:NZD as the favoured swing trade from my watch list. Yet again it performed as expected but yet again I didn’t enter the trade due to my focus being elsewhere. However, it may not be over for that pair […] Continue Reading…

Posted In: CHF, Commodities, EUR, USD
Comments Comments Off
Open
Update To 10th Feb Trading Plan; 23rd Feb 2014

As you’ll remember in my previous post of 2 Weeks ago I gave details of 5 currency pairs each demonstrating early stages of set-ups I tend to follow before entering a trade.

As things stand I’ve not entered trades in any of them as yet. For one of them I […] Continue Reading…

Posted In: AUD, EUR, GBP, NZD
Comments 2 Comments
Page 1 of 40
Next
Valid XHTML 1.0 Transitional     © 2014 Index Swing Trading & Technical Analysis
— All Rights Reserved.