This Week’s Swing Trading Round-Up 9th June 2012

This Week’s Swing Trading Round-Up 9th June 2012

Not a great deal to add this Week as I’m still holding the same positions as last Week and no new positions taken.

I struggled again from a day trading perspective, rather unnecessarily really because all I had to do was keep hold of the first day trade of the Week (DOW long from 12,070) and I’d have had a great Week!

Still holding half EUR:AUD short, intended to add but my ideal adding level was not reached and I missed the boat. This position currently showing 201 points profit, bearing in mind I already closed half the position at 114 points profit.

The AUD:NZD short is also still running and 4 hourly is currently retesting the 200 MA from above. Really need this to break through to get the downside momentum I’ve been looking for. If support is offered at current levels I’ll probably look to close this trade. It currently shows 107 points profit.

DOW system short is still also running, albeit looking significantly less healthy than it did a Week ago.

Going forwards, other than the list of watch-list trades I posted a few days back, nothing new has materialised and if I’m to be completely honest, I have little idea of what to expect over the coming days across main markets and Indices as a lot rests on European issues with the Spain bailout request and China data due overnight tonight will probably be market moving.

One chart I’ve not talked about has been GBP:NOK. For some Weeks now I’ve considered it a great looking swing short, but with a 90 point spread from my broker I’ll probably give it a miss though it has been playing on my mind so we’ll see.

Hope you are enjoying your Weekend.

 

1Comment
  • Olu
    Posted at 18:22h, 14 June

    Trading has suddenly become higher risk than before. One feels there are institutions skewing the technical analysis of the markets. I like you found myself second guessing my weekend analysis and changing tact mid week to my detriment…