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 couple of names from the hat and decided to have a closer look.
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 which came a bit
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.
I'm really sorry to say that yet another Week has passed with very little in the way of updates from me. I'm starting to become unsure as to why I'm not seeing the trading opportunities that were plentiful throughout January to March. I've started to question whether I'm lacking in confidence, missing good set-ups, or there just isn't anything that can be deemed high probability. There have been a lot of moves that looked obvious after the event, but picking the good ones before the event has been particularly difficult and hence I've barely collected any pips all Month.
Only 3 trades were taken over the last Week, a DOW short from 13,010 which wasn't intended to be a swing trade but ended up as a 3 day hold and delivered a 186 points profit, a Cable short that was stopped out for a 35 pip loss, and finally another attempt at shorting CAD:JPY which has remained a
As discussed in the Trading Round-Up for Last Week I've got no high probability swing set-ups on the radar right now but promised to talk about a couple of things I'm watching that could offer some shorter term trades and may eventually become solid swing trading candidates.
This full analysis doesn't hold any particular bias and may or may not result in the taking of new trading positions, but I'd like to share my thoughts on what I see in the charts based on historic variations of similar set-ups and discuss the possible outcomes.
The Weekly chart doesn't appear to be at an obvious
Almost a Week has passed without any new Swing Trading updates from me and I'm very conscious of this but the fact is, I'm still not seeing stuff that really warrants taking a risk on. By all means, there are plenty of set-ups out there and most will probably play out as those I've talked about already have, but if I'm too uncertain about a particular set-up I'd rather miss out than take the trade just to end up either making mistakes by being