Index Swing Trading & Technical Analysis - Latest Posts

You may recall my recent choice to take a risky trade in AUD:NZD whilst waiting for a EUR:GBP set-up to fully play out. Obviously I could have entered both trades but on the basis that the EUR:GBP set-up didn't look quite ready for entry, and the AUD:NZD despite being far riskier did, I just went with the latter. Unfortunately for me, the EUR:GBP short would have been an instant winner, whilst the AUD:NZD one is yet to show a profit of any kind! In fact I widened the stop slightly on the AUD:NZD long on the basis that my original stop placement didn't leave enough breathing space. At present the AUD:NZD position is showing a loss of approximately 140 pips whilst the EUR:GBP trade, had I taken it, would now be showing +180 pips!

Firstly I have to apologise for the lack of updates to the blog. Hopefully you will understand that my life outside of trading has been really testing over the last few Months restricting my ability to spend the time I'd like to spend on analysing and taking new trades. Despite not taking many trades, the set-ups I've posted over the last few Months have in the main played out very well so I hope there's been some inspiration from those!

In all honesty there still isn't much out there that's worth trading based on my low-risk approach but as I've not posted any updates for a Week here's a quick one just to show I'm still plugging away in the background waiting for opportunities. Last Week I mentioned a few trade possibilities and 2 of those played out well even though I didn't take them myself. The 3rd one was AUD:CAD for a swing short from the same 50% fib level in this chart although I did suggest it may take a while to play out.

You may have spotted there was no trading round-up over the Weekend just gone. This was simply due to the fact no new trades have been taken and the suggested swing trades I had lined up either didn't provide what I was looking for on smaller time frames to enter, or, I missed the entries and decided to let them go. There are a couple of swing set-ups I'd like to focus on over the next couple of days and I'll post further details ahead of entries if they start going to plan.

I've decided to close half of the DAX swing long to take a profit of 503 pts. I'll update the trading log with the aggregate profit once the entire trade has been closed but for now the remaining half  is to continue running, not sure of target etc, just going to trail it. Stops currently at b/e but will have a closer look at raising them over the next day or two. Having held the trade for almost 6 Weeks its probably the longest held trade so far this Year and is paying off accordingly. This chart shows the trade along with my emotions and reasons for banking half thus far:

As the Week started with uncertainty over the debt ceiling situation I chose to have a lazy Week to avoid jumping into trades I may regret! Of course this was despite the debt ceiling conclusion being pretty predictable. The DAX swing long is still running, showing circa 380 pips profit based on current futures pricing. Whilst I didn't swing trade the last Week I have had my eye on a few charts so here's a brief run through of a couple of the more interesting ones: