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Long Term Swing Trades

  • #1
  • First Post: Dec 14, 2006 2:19am Dec 14, 2006 2:19am
Wanting to take a look at long term trading on weekly daily type basis. Currently been in a long term trade with a demo account with gbp/chf since 12/6/06 and currently up 181 pips.

My target is based on hitting a lower high then the highs of the days listed below.

Target 1.3825
11/3 daily high 1.3868
11/5 daily high 1.3845
11/6 daily high 1.3840
11/7 daily high 1.3854
11/8 daily high 1.3805
11/9 daily high 1.3837


After looking at it closer realize it is a slow mover up down up down with much extremes. Looking at trades that will yeild around 200 pips are more a week. Taking into consideration the following.

Double Triple tops and bottoms
Trends
Retracements
News Reports

All strategy and input is appreciated.
  • #2
  • Dec 14, 2006 3:39am Dec 14, 2006 3:39am
I based my descision to go long on the gpy/chfon this type of retracement pattern and with the six days hitting 1.3800 and above for highs.
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  • #3
  • Dec 14, 2006 3:42am Dec 14, 2006 3:42am
This is what it has done so far this week
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  • #4
  • Dec 14, 2006 9:29pm Dec 14, 2006 9:29pm
Closed order at 1.3801 based on 15 min chart trying to go above 1.3823. As I said this is on a demo accout (trading gbp/usd on live) but treating demo trades like real money. As much as you can. Plus itme said this pair is heading for a down trend.

Quoting goodthings
Wanting to take a look at long term trading on weekly daily type basis. Currently been in a long term trade with a demo account with gbp/chf since 12/6/06 and currently up 181 pips.

My target is based on hitting a lower high then the highs of the days listed below.

Target 1.3825
11/3 daily high 1.3868
11/5 daily high 1.3845
11/6 daily high 1.3840
11/7 daily high 1.3854
11/8 daily high 1.3805
11/9 daily high 1.3837


After looking at it closer realize it is a slow mover up down up down with much extremes. Looking at trades that will yeild around 200 pips are more a week. Taking into consideration the following.

Double Triple tops and bottoms
Trends
Retracements
News Reports

All strategy and input is appreciated.
Attached Image
  • #5
  • Dec 14, 2006 9:30pm Dec 14, 2006 9:30pm
Looking for a swing trade next week with a live account any ideas.
  • #6
  • Dec 14, 2006 11:57pm Dec 14, 2006 11:57pm
Quoting goodthings
Looking for a swing trade next week with a live account any ideas.
Long GBPUSD with a stop under 1.9467.

FXChant
Singing the world of forex
FXChant Singing the World of Forex
  • #7
  • Dec 15, 2006 2:30pm Dec 15, 2006 2:30pm
seems like the pound is on a down trend what do you base that on. I will more then likely be trading the pound so any ideas you have is great
Quoting fxchant
Long GBPUSD with a stop under 1.9467.

FXChant
Singing the world of forex
  • #8
  • Dec 19, 2006 8:33pm Dec 19, 2006 8:33pm
Just got through looking at this chart and checked my emails and got this to confirm what I was looking at
There seems to be a retracement pattern here

News from the Desks of Boris and Kathy
Selling USD/CAD
December 19, 2006 EMAIL TIME: 2:38 pm EST
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Dear Tom,

We are looking to short USD/CAD today, as it looks good from multiple time frames. Oil prices have reversed this morning's drop as weather here in NY begins to fall from the 50s down to the low 40s. Technically, we are seeing a turn on the daily charts below our favored first standard deviation bollinger band. On the hourly charts, we have confirmation of a short term trend reversal with prices below the 200-hour SMA.

Therefore we are looking to short USD/CAD at market (it is currently trading at 1.1523), with a stop at 1.1553. Our first target is 1.1503, second target is 1.1435.
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  • #9
  • Dec 19, 2006 9:17pm Dec 19, 2006 9:17pm
This shows the double high IB
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  • #10
  • Dec 20, 2006 5:43pm Dec 20, 2006 5:43pm
Target is based on retracement patterns from Post #8 and the 61.8 fib of 11/28 low of 1.1286 and 12/15 high 1.1588

Short at 1.1510
Target at 1.1401
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  • #11
  • Dec 20, 2006 7:25pm Dec 20, 2006 7:25pm
Cad today almost retrace to the 50 fib and is going down hopefully it will hit the target.
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  • #12
  • Dec 20, 2006 8:31pm Dec 20, 2006 8:31pm
i agree im also short.
1.1585 here
  • #13
  • Dec 20, 2006 8:32pm Dec 20, 2006 8:32pm
Wow you seen it coming great
  • #14
  • Dec 20, 2006 8:36pm Dec 20, 2006 8:36pm
<TABLE class=tborder cellSpacing=0 cellPadding=3 width="100%" align=center border=0><THEAD><TR><TD class=alt1>8:30am </TD><TD class=alt1 align=middle>CAD</TD><TD class=alt1>Wholesale Sales m/m</TD><TD class=alt1 align=middle>http://www.forexfactory.com/forexfor...isc/mi_med.gif</TD><TD class=alt1 align=middle>-0.2%</TD><TD class=alt1 align=middle>-0.1%</TD><TD class=alt1 align=middle>-1.6%</TD><TD class=alt1 id=collapsecal_eventanalysis_3331 align=middle>[read</TD></TR></THEAD><TBODY></TBODY></TABLE>



Anybody know what the above news is supposed to do to the UsdCad
  • #15
  • Dec 20, 2006 9:09pm Dec 20, 2006 9:09pm
Looking at your first chart posted here... almost convinces me to for sure continue on my trading plan to trade only when price hits bottom and tops of the Bollinger bands... forget about all the other indicators.... do it on daily chart... if I had bought at all your yellow circles, and the sold at the tops of the BBs... lots and lots of pips... just have to be patient... and that is what swing trading is, NO ?
  • #16
  • Dec 22, 2006 3:35pm Dec 22, 2006 3:35pm
Has not retraced to the 61.8 fib level
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  • #17
  • Dec 22, 2006 3:46pm Dec 22, 2006 3:46pm
Weekly Chart showing UsdCad reaching a point of resistance that if breached could take it to the April 2 high of 2006
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  • #18
  • Dec 22, 2006 3:49pm Dec 22, 2006 3:49pm
See our adjusted target
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  • #19
  • Last Post: Dec 22, 2006 3:50pm Dec 22, 2006 3:50pm
This trade was originally based on Post # 9 and the UsdCad retracement pattern as you can see it came close to the 61.8 fib mark as our target then backed off. Currently it is at a point of resistance that it has not gone beyond since April 2 2006 see Post # 17 In order for the trade to descend to our target it obviously has to break past today’s 61.8 fib and beyond see Post #16. Post # 18 shows are adjusted target
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