Selling on Indices is pretty much established now so unless you are already in swing shorts, entering positions now based solely on the targets detailed in this post is probably not worth the risk for the small potential reward.
However, if you are already positioned here are some levels that will have me watching closely to gauge how price reacts.
Projected 15 min channel suggests 12,390′s will receive a visit:
4 Hourly trend line targets 12,390′s
Daily 200 MA at 12,390 No way we are going up in the medium term without this being reached:
The old FTSE triangle dying to get back tested:
One thing that’s been discussed on my forum is the fact that the sell off has been so orderly. This isn’t unusual but it often means there can be surprises when least expected and more often than not those surprises are in the direction of the trend, therefore be aware that a dead cat bounce may be seen from some of these supports followed by sudden heavy selling that smashes through them. I do have some DOW shorts running but wont cover all of them at the targets detailed above, so any intraday long positions I try will effectively be hedged, and will most likely be running fairly tight stops, ideally getting stops to break even as early as possible, or more likely taking profits quickly until we have confirmation that a short term low is in place.
Another relatively quiet Week for swing trades, not so much due to the lack of set-ups but more because I didn’t chase them as there was enough volatility to earn a fair few points out of day trading the Indices.
The only swing position I had open was the Cable [...] Continue Reading…
Here’s a few charts from the current Watch list.
Most of these correlate with one another so if S/R works on one of them, it should work on all of them simultaneously. But there’s always a spanner in the works somewhere….. FTSE has broken it’s support:
NZD USD – Support
I find it interesting [...] Continue Reading…
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 [...] Continue Reading…
No Weekly Trading Round-Up this Week as the only Swing position taken last Week was a Cable Long and that position is still live but will most likely be stopped out within the next 24 hours.
In the meantime, just a quick post showing a short term set-up.
DOW Futures gapped [...] Continue Reading…
As you may know, CAD:JPY has been my favoured Yen trade on the short side recently based on good quality technical set-ups but in actual fact, the Austrailian Dollar has been the weaker currency against the Yen and therefore this might be where we should be focussing our attention.
It’s [...] Continue Reading…
The following analysis was intended to be a continuation of that detailed last Week in this post.
Having entered a long position (1.6171) today primarily based on that previous analysis I decided to run the ruler over Cable again, but this time findings are a little more mixed. By the [...] Continue Reading…
From one Indice to another and from one FX pair to the Next, there isn’t anything glaringly obvious that I can see for the Week ahead. There are plenty of set-ups, but the risk of failure seems on the high side for most. On that basis I’ve pulled a [...] Continue Reading…
Only a quick post here because again I’ve not traded much over the Week, partially due to Flu and partially due to a continued lack of convincing set-ups, though there have probably been a few set-ups missed due to the former!
The CAD:JPY short very quickly delivered 100+ points profit [...] Continue Reading…
The following analysis on GBP:USD was with the intention of finding a solid conclusion as to it’s next likely direction. No solid answer was found so I wasn’t planning on posting up the details but in hindsight it maybe useful to some so here goes.
Calling Cable with confidence is [...] Continue Reading…
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