Swing trading Forex

Hello Traders,

I haven't posted in a while, but I just wanted to share some of the winners I have had in the last couple of months in Forex. I have a bunch of pictures of the before and after that are pretty much self explanatory.

My current system is very simple and only uses two indicators on a 4 hour chart.

1. A 200 period Simple Moving Average.
2. Parabolic SAR on the standard setting

First is a long AUS/USD trade that I took after noting in early February that price action had pierced the 200SMA and held. I watched for about a month as price action held above the 200SMA for the last 30 days causing it to rise. Then, noting in March that the price action touched the rising 200SMA, and the PSAR showed a green dot, I decided to take a shot. Long AUD/USD 2 lots, with T1 at +70 pips, and T2 at +140 pips.

For the Aussie trade above, I moved the stops to breakeven shortly before the first target was hit, and was lucky enough to have the second target close at .9100 the next day.

The next trade is a short EUR/USD trade that I took because the Euro had broken down through the 200SMA on the 4 hour chart and failed a further test of the Moving average making a lower low. I watched as Euro struggled along the moving average, but when price action moved below the wick of the lowest candle of the previous three days, I pulled the trigger.

 

After the first target was hit the stops were moved to breakeven.

 

Then, after a small retracement, there was continued momentum to the downside, so I moved the stop for the second lot to the top of the retracement.

On this one price action returned and was stopped out for about 50 pips above breakeven on the second lot.

If you want to talk swing trading or have any questions become a follower of the Small Time Trader. In the near future, I'll post some of my latest options trades. Some winners, some not, but I'm always learning.

Follow me on Twitter @ B50cal1978

I try to post everything real time as far as currency trades go, if you want to see what I'm looking at.

Good luck trading,
STT