Watchlist for March 9, 2006

Swing trading: My trading strategy. As the name implied, I attempt to predict the short term swings in price and am willing to hold positions for more than one day if necessary to allow the price to gather enough momentum in favour of my picked directions.

Watchlist: Starting from today, I intend to startup a simple watchlist (as inspired by Trader Mike) of potential swing candidates for each trading day, simply to perform the task of scanning the market to avoid missing trading opportunities, as well as to act as a reminder not to trade against the prevailing trend.

Potential swing trades :
Longs:

• AUS vs USD (support 0.7334) now at 0.7359 (New - 8 hours ago!)
• EUR vs USD (support 1.1910) now at 1.1921 (New - 12 hours ago!)
  
• USD vs CAD (support 1.1534) now at 1.1565 (3 days ago)
  

Shorts:

• GBP vs JPY (resistance 204.75) now at 204.40 (2 days ago)