These 2 entries could trigger any day now
Dave Floyd is a professional FX and stock trader based in Bend, OR and the
President of Aspen Trading Group. Dave’s approach to FX combines technical
and fundamental analysis that results in trades that fall into the swing
trading time frame of several hours to several days. For a free trial to
Dave Floyd’s Daily Forex Alerts
Choppy Conditions Demand Longer Time Frames
We consider ourselves fortunate to have posted a modest
(emphasize modest) profit on our trade calls this month given that the trades we
made were of the swing trade variety, 24-72 hours in duration. The Dollar
Index (DXC),
which we rely upon quite heavily was simply erratic, making continuation moves
rather difficult. That being said, with the market now eagerly awaiting
next Fridays U.S. payroll data, we should expect that choppy conditions to
continue.
While we always are keen to take longer-term macro based trades that have
sound technicals, we have not reached a point where we would execute at this
point. However, given that trading will likely continue choppy for the
next week, we are keen on identifying trades that will not be as sensitive to
the DXC movements. Last week we profiled a short in EUR/GBP, but are still
waiting for the daily chart to confirm.
Short EUR/GBP
Short EUR/SEK
As always, feel free to send me your comments and questions.
Dave Floyd is a professional FX and stock trader based in
Bend, OR and the President of Aspen Trading Group. Dave’s approach to FX
combines technical and fundamental analysis that results in trades that fall
into the swing trading time frame of several hours to several days.