No Analysis Today

Sorry folks, I will be away until early next week. I shall post my next analysis by Monday morning.

Brief word regarding the Euro is the trend is still down and we should see more weakness to come.

Those of you who have followed and used my analysis this week should have made very good money. I know a few of you have already donated to charity this week and I thank you very much. If you have not already done so and have enjoyed good profits this week then please take a moment out of your day and make a donation to one of my chosen charities.

Thank you.

Good luck today and have a good weekend.

Just as I posted previously...

Just as I posted my previous update the market seemed to have completed the 5 waves. Above is the chart with what looks like 5 wave completion. The analysis is based on using Dynamic Trader APP.

Euro Possible Reversal

From the first chart you can see the Euro may well have completed a 5 wave downtrend and we may bounce up for a correction a little today before resuming a downtrend again.

I was asked how I know when a reversal takes place. It is not always easy to spot but reversals usually take place on fib points, pivot points or with candlestick formations. Recent candlestick formations are on the second chart.

Good luck tody and look for a reversal before opening shorts again.

Thanks & Trends

I recieved three emails and two text messages from people who have done well yesterday based on my analysis stating they will donate to charity. I just want to say thank you to those that have done well and are donating.

I also recieved a couple of emails and it seems this is becoming a trend of it's own. I mention about the trend being down and I get asked how I have worked that out as the trend looks like it is up. The answer to that is to work top down. If analysing charts you look at one time frame (such as 60 minute only) and it is down, look at the bigger time frame then you can not notice the overall trend. A top down approach is what is needed to work out the trend. Check the weekly, daily and hourly which will give a beter idea of trend. Just because the 60 minute is up, doesnt mean the weekly is.

This can also be helped tremendously by using fibs. I really urge anyone who has not done so as yet, go and buy a copy the Dynamic Trader Workshop. It only costs $997 for a 40 hour home training course and is one of the best courses you will have.....trust me!

Yesterday's shorts

Those of you with standard accounts should have made in excess of 1k yesterday based on the analysis. If you did use my analaysis as a basis for your trade then I would please ask if you would make a donation to one of my charities.

The Euro has still got some way to go down but as you can see from the daily chart, it took a breather at exactly 0.681 fib yesterday. We may have a little bounce up before commencement downward again.

The second chart shows the weekly view and nothing has changed (even though some of your email are asking if we are going up now). We are still going down.

Good luck today.

Euro & Email issues

Sorry for those of you who have tried to contact me but have had no reply. I have had some email problems that I was unaware of until yesterday and they are hopefully now fixed and working again.
I shall reply to all the emails today/tomorrow. If you have not had a reply from me by tomorrow evening then please email me again as your original mail may have gone astray.

On the trading front, if you are day trading then don't forget to lock in or at least break even on the Euro after moving down this morning. If you are swing then you can minimise your risk a little.

Euro Reversal

The Euro hit 12940 with a hanging man on the 15 minute chart yesterday which was a good sign to go short if you were watching the market. I was not able to watch the market so I had a short open at 12906 with a stop above 12980.

I hope those who were already short took note of Friday's update and managed any open positions accordingly.

We may now see a move down for at least a couple on hundred pips in the coming weeks.

Sorry for not posting yesterday. Next post tomorrow morning.

Good luck today.