Forex Swing Trading

It's the end of a nice long holiday weekend, and it's time to start thinking about trading again.  I'm still sitting on a few positions held over from last week, all of which are currently in profit.  I'm short EUR/USD and AUD/USD, and long EUR/AUD.  All of these pairs have retraced a bit in recent days, so we'll see if they resume their trend and I keep riding them, or if they continue to retrace and I get out. Tonight, I'm eyeing a short setup in GBP/JPY.  The pair has been in a bit of a downtrend in recent months with an area of support around 139.00, and for the past few days it's been hugging a down trendline that has ...

It's the end of a nice long holiday weekend, and it's time to start thinking about trading again.  I'm still sitting on a few positions held over from last week, all of which are currently in profit.  I'm short EUR/USD and AUD/USD, and long EUR/AUD.  All of these pairs have retraced a bit in recent days, so we'll see if they resume their trend and I keep riding them, or if they continue to retrace and I get out. Tonight, I'm eyeing a short setup in GBP/JPY.  The pair has been in a bit of a downtrend in recent months with an area of support around 139.00, and for the past few days it's been hugging a down trendline that has ...

This Friday is Christmas, so I suspect that the week in the Forex market will be relatively quiet.  I've got a few open positions that I held over the weekend that I'll be monitoring, but I don't anticipate entering into any new positions (that is, of course, unless I see an opportunity I can't pass up!). I've currently got an AUD/USD short position that has an unrealized profit of about 100 pips so far.  I entered into this position following the breakdown out of the symmetrical triangle that I mentioned last week. I'm also short EUR/USD, with an unrealized profit of about 340 pips so far.  This trade has really worked out well for me ever since I got in shortly after ...

Just wanted to quickly note a few more potential setups this week before calling it a night... AUD/USD After a prolonged uptrend, AUD/USD has been consolidating as of late on the daily chart, forming a nice symmetrical triangle. Today, the pair broke down through the bottom line of the triangle, offering us a potential short opportunity.  Time will tell us whether this is actually the beginning of a significant move down.   EUR/GBP Today's action saw the EUR/GBP test a rising trendline serving as support.  This could be a good opportunity, depending on how the next few days unfold.  If the pair respects the trendline, it could be a good long opportunity, especially considering that the general trend ...

Just wanted to quickly note a few more potential setups this week before calling it a night... AUD/USD After a prolonged uptrend, AUD/USD has been consolidating as of late on the daily chart, forming a nice symmetrical triangle. Today, the pair broke down through the bottom line of the triangle, offering us a potential short opportunity.  Time will tell us whether this is actually the beginning of a significant move down.   EUR/GBP Today's action saw the EUR/GBP test a rising trendline serving as support.  This could be a good opportunity, depending on how the next few days unfold.  If the pair respects the trendline, it could be a good long opportunity, especially considering that the general trend ...

The EUR/USD setup I was watching has turned into a short position for me.  The pair broke the rising trendline last week, then retraced slightly to the trendline, before continuing with its move down on Friday.  I jumped in to my short position on Friday as the Euro resumed its move down.  Though we saw an up day today, I'm still bearish this pair for the immediate future.  We'll see what happens... Go to Source

AUD/JPY is presenting a possible short opportunity on the daily chart.  After being in a bit of a range for several months, the pair hit a new high in mid-October, but has made a couple of lower highs and lower lows since then.  We appear to have made the second lower high yesterday, so this may be a good time to jump into a short position.  We've a got a little room to work with before the pair hits horizontal support around 76.00 (although we should proceed with caution as the pair aproaches 80.00, another area of support). ...

AUD/JPY is presenting a possible short opportunity on the daily chart.  After being in a bit of a range for several months, the pair hit a new high in mid-October, but has made a couple of lower highs and lower lows since then.  We appear to have made the second lower high yesterday, so this may be a good time to jump into a short position.  We've a got a little room to work with before the pair hits horizontal support around 76.00 (although we should proceed with caution as the pair aproaches 80.00, another area of support). ...

Folks I'm liking the action in the stock market and that is where I've been for a while now.Link Go to Source

Today EUR/JPY hit an area of resistance around 137.45, forming a double top on the daily chart.  We've been predominantly in an uptrend over the last several months, so long term, I'm still bullish.  However, with the formation of the double top, now may be a good time for the pair to take a breather and retrace back to the rising trendline.  Of course, it could go ahead and just break through the resistance, in which case I think we'd see a decent move up.     So, in anticipation of either move, I'm going to straddle today's price action with a buy above today's high and a sell below the low.  Here are my orders. Long Entry:  ...