RT Swing Trader Blog | News
20May/101

Swing trading software – How will does “action-reaction” tell us about the next move in the euro?

The  June Eurocurrency posted pivot highs of the April 15 and May 3rd reversal swing dates. Both dates marked the end of the corrective bounce and triggered a bearish reversal, followed by a lower market. The euro also posted a 570 point rally, during the two session following the May 6th reversal date. Since then, the euro has dropped to a new low and reached the up-sloping reaction line target objective,on the May 19th reversal date. The market  has completed a full cycle, with time and price coming together on May 19th. The euro rebounded off the reaction line suggesting the downward pressure may be over soon and could set up a possible bullish reversal pattern. For undated trade signals check out the  TMV Swing Trade report.

June Eurocurrency

June Eurocurrency

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14May/100

Swing Trading Software for Trading Currencies.

Looking for a trading software program to help you trade the volatile currency markets? You may want to consider the RT Swing Trader. The program signals are pattern based so that it uses the markets own price action to identify “sweet spots” where the markets are building energy inside a trend that precede explosive market moves. Once the signal has been triggered the program will make time and price projection using the unique “action-reaction” theory to project price target objectives as well as the duration of the trade. Intelligent and dynamic protective stops are automatically adjusted based off market direction, price range and momentum, therefore, protective stops are determined by actual market conditions and are not arbitrary. The program can adjust to market conditions because the algorithms are based on timeless and universal fundamental  principles of the market, therefore it can work under any market conditions and or any timeframe. Check out the performance of four of the RT Swing Trader portfolios at www.rtswingtrader.com and sign up for a free 30- day trial so you can use it for yourself.

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14May/100

Currency Trading – Reversal dates project major turning points in Canadian dollar.

The Canadian dollar formed a bearish TR swing pattern after posting a major high on the April 22nd reversal date and turned lower in front of the May 6th meltdown and subsequent drop to 9293. The “loonie” rebounded from the low and traded higher into the May 12th reversal swing date, closed inside the 60% sell window and tested the 20- day SMA. This price action formed a potential bearish TC pattern with trigger price below the price bar that entered the 60% sell window and triggered the sell when the market passed through .9717.  This is just one example of the potential provided by understanding “action-reaction” price action in conjunction with the reversal date trading technique.  Using the “action-reaction” time/price projection methodology I was able to identify a major reversal timing on April 22, followed by the high of the corrective rebound on May 12…days in advance.

June Canadian dollar

June Canadian dollar

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28Apr/100

New swing patten triggers selling opportunity in Japanese yen.

Tuesday’s one-day rally stopped short by the 20- day SMA and the down-sloping reaction line. The yen reversed at the two levles of resistance  and resumed the dominate downward trend. This should set the stage for the next swing lower into the May 6th reversal swing date.

June Japanese yen

June Japanese yen

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13Apr/100

Canadian dollar approaching parity [chart]

Canada’s dollar once again approached parity with its U.S. Dollar after Finance Minister Jim Flaherty said the currency’s rise has been “orderly” and reflects the country’s good fiscal position. This has effectively ended the three-day pullback to the median line and set up a new bullish reaction swing pattern. I look for the market to continue higher into the April 15th reversal swing date.

June Canadian dollar

June Canadian dollar


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23Mar/100

Swing trading opportunity setting up for June Swiss franc [chart]

June Swiss franc – The Swiss franc is beginning to exhibit a show of strength on speculation that the central bank will begin relaxing a year-old policy of selling the currency to curb its strength. The market has formed a bullish reaction swing with a retest of the 20-day SMA on Monday. This is a potentially bullish “setup” with a trigger price at .9527. A confirmation of this reaction swing could also mark the end of the longer-term A-B-C continuation pattern and the beginning of a new bullish leg. Check the latest issue of the Traders Market Views Swing Trading report for current recommendations.

June Swiss franc

June Swiss franc

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24Feb/100

Dollor turns lower after reaching reaction line on reversal date!

The Dollar index began to show weakness when it moved away from the ascending median line. However, it was not until the Dollar reached the sloping reaction line target objective on the February 23rd reversal date that the bullish cycle was complete. A retest of the reaction line on Wednesday failed and the market turned lower. I look for the trend to shift over the next few days and form a possible TR swing pattern and selling opportunity.

March Dollar index

March Dollar index

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19Feb/100

Is this the high for the Dollar? [chart]

In the last issue of the Traders Market Views  (February 19, 2010) I talked about the triple top formation that had formed in the dollar indiex over the past several days. The pattern formed at the end of the cycle, but  just below the reaction line target objective. I said the market should tade above the triple top and challenge the reaction line before the reversal timing could kick in. The dollar did reach a new high of 81.43 during Friday’s session and tested the reaction line objective before turning lower. The market hit the reaction line on the weak side of the ascending median line suggestiong a loss of momentum at the end of the trend. I look for the dollar to begin froming a new TR pattern leading to a shift in the trend over the next few days. I will have an update in the next issue of the Traders Market Views.

March Dollar index

March Dollar index

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17Feb/100

Reversal date projects time/price high for Yen rally.

The March Japanese yen has just completed a 5-wave continuation pattern, inside the longer-term downward trend. This type of pattern in a mid-trend pattern and suggests downward trend should continue over the long-term, but right now I want to talk about the 5-wave pattern just completed.

The upward swing began on December 31, after a failed swing pattern formed a new A-B pattern. The Yen rallied off this low and formed a (C) to (D) reaction swing between 1/15 and 1/20, just above the 20- day SMA. This swing pattern was the balancing point of the upward swing (where the action segment ends and the reaction segment begins) and could have been used to pinpoint the time and price of the subsequent price move. This was done with reverse count from 1/15 to the beginning of the cycle (marked as A). The count equaled 11 days. That number was used to make the forward projection of time and price by projecing forward 11 days from 1/20 (marked as D). February 24th was the projected reversal date and the end of the cycle with a initial target objective at the sloping reaction line.

As the February 24th reversal date approached it look dim for the  time/price projection as the market drifted lower into February 24th. On the reversal swing day, the market surged to a new high and peaked on the projected date. The short-term corrective swing was complete and the market turned lower, to resume the prevailing trend. The long-term bearish cycle should continue into end of the cycle projected for mid March.  I’ll have more on the longer-term downward trend, with time and price projections later.

March Japanese yen

March Japanese yen

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29Jan/100

Time and Price objectives for short British pound swing trade. [chart]

The British pound broke support and triggered the sell suggested by the January 26th bearish reversal swing date. The market has now moved out of a A-B-C continuation pattern and resumed the longer-term downward trend. The next reversal swing date is projected for February 3 with a target objective at 1.5825. I will keep you updated of any changes in the TMV Swing Trade report.

March British pound

March British pound

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