Great swing trade ideas for June 2014

Short S & P 500:

 

Long GOLD:

 



trade ideas May 20th

Market has been very choppy this week, been struggling to find some good plays but a couple of ideas are starting to look good,

The first is the Kiwi, big support at 0.8515, but if it gets there I will not want to be long... The play is to be long at 0.8560 and (0.8545 if need be) and stop loss at 08520

 

 

The second is long EUR/JPY:

 

 

The reasoning is simple, the USD/JPY has a very clear support at 100.80 which WILL probably be broken, but when all longs are out of the market and only shorts remain, im guessing we rally again.. of course, this is risky, so stops are essential in case it goes into freefall, but this is what I think will happen:

 

buying the Euro crash on Friday night, nice setup

I haven't been trading the Euro much lately, but this move today caught my eye. When I daytrade, I look for moves that have gone too much in one direction. I am not a Euro bull or bear, i make some pips and im out.  On the Euro topic, im not convinced this is the start of a more severe bear move like some are saying.  Maybe im wrong, but for now im playing the bounce. Im already long at 1.3760 and im adding at 1.3743, a level i believe should hold, otherwise,  im bailing out under 1.3730.

 

 

 

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Update:  this trade was a disaster. A traders worst nightmare is to have a position drift lower against him, while he continuously moves his stop... This move in the Euro completely caught me off guard, and what saddens me is that I was never convinced, I just went long due to the volatility and expectation of a quick bounce. Nevertheless, I have added at 1.36 and placed a hard stop at 1.3570.  I believe we should start heading higher from here, a bounce is long overdue.

 

 

Good shorting opportunity soon (NZD/USD)

Although I am expecting this pair to top somewhere over 0.88,  for tomorrow I believe there is a good shorting opportunity at 0.8705.  More on this later, but this does look very promising so wanted to post before I forgot.. here's the chart:

 

 

 

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Update 1 : This trade I pointed out to yesterday didn't turn out too well.  I shorted at .08705 as planned, and almost immediately, it jumped 70 pips higher.. I added higher and got out with a small profit after midnight, only to watch it drift lower.

 

Everytime you think a move is definitely over, it seems to go on just that little bit further to trick you into closing a position.  I am preferring a different approach with using stops. Scale in a position with multiple entries, (in a zone you think will hold) and place a stop on all entries at a point where you are convinced the trade idea is wrong. Its a risker strategy, but with volatile markets, it higher your odds to succeed..

 

I am planning on going long the Nzd/Usd  (small position) close to 0.8840...here is the chart, and a related gbp/nzd entry as well.

 

 

first is nzd/usd....then the gbp/nzd

 

 

 

Waiting to short Gold at 1314

Gold on Friday rallied almost 30$ on Friday, tilting the odds towards the bullish view that we go higher above 1400, rather than breaking 1200 in the coming few months. A bottoming process seems to be taking place, and with Fridays move, it looks like the low at 1268 will hold, for a much bigger move to the upside.

For today, I am going counter-trend , a small short line at 1314, hoping to reverse long when and if it retraces lower.

 

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 Update 1 :  We got a small retrace from 1314-1315 today, but it was slow and corrective in nature, hinting at one last move up tomorrow, I think to around the 1320-1321 level.  There is a chance it falls from here overnight, a good chance, but ive decided not to risk it, so ive covered my shorts at 1309, and im hoping to reload soon from a higher price.  

 

 

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Update 2:  Just posting the follow up chart, I am sticking to strategy and building a long position around 1285-1288.. I highly doubt 1275 will be breached, so I will add if I see it lower, but exit all at 1277..