03 Jun This Week’s Swing Trading Round-Up 3rd June 2012
Being so busy in other areas of my life at present has restricted the time I’d normally be putting into my quest for great Swing Trade opportunities. I don’t think it’s a terrible thing because leaving positions without interfering has generally been the right thing to do. My system is still holding half a DOW swing short from 12,900 which feels pretty good right now.
I’m still holding the AUD:NZD swing short, although this wasn’t initially recorded in the swing trading log because despite posting the pre-trade analysis before taking the trade, at the actual time of entry the intention was to run it as a day trade, but the set-up started looking like what I’d been waiting for so I just ran with it. Maybe I should add this to the log after all.
I covered half the EUR:AUD swing short mid week for a profit of 114 pips mainly because short term time frames were marginally in favour of a rally, and this rally has now materialised with the 2nd half of the position showing exactly break-even as I type. I think this rally will fizzle out, so I’ll post up some analysis surrounding that tonight or tomorrow ahead of a possible re-instatement of the half position I closed.
Pretty gutted I’ve missed out on the huge Cable sell off, particularly as I had a set-up for a huge move, unfortunately I wasn’t sure which direction that move was going to be and having previously had a marginally bullish bias in which my last long was stopped out, I kind of stayed away from Cable.
Anyway, I hope you are enjoying this long 4 day Queen’s Jubilee Weekend, and hopefully I’ll be back later tonight or tomorrow with some solid analysis on a few prospective swing trade ideas.