Will EURGBP resume trend?

Dear Dynamic Traders,

Good day to you. Hope you are having a good week.

The EURGBP has been in somewhat of a sideways motion finding a good amount of resistance at the value index. Over time price has been forced into a squeeze between the trendline support and the VI resistance and perhaps we may see a "pop" in one direction or the other in the near future. Given the trend has been down the tendency is to sway for a breakdown, however, as we all know anything can happen.














Good Trading!
Bijal Shah

AUD breakout

Good Evening Dynamic Traders,

The AUDUSD is displaying signs of a possible breakout scenario so is currently on the watchlist for entry via ESLT to avoid a FBO.

You may have noticed some longer term divergence between mid March and June, which is a good point but not so valid as MACD started to follow price for the most part since June.

Please note the arrows are for illustrative purposes only and not actual predictions of where price will go to.















Note the AUDCHF which is also doing something very similar to the AUDUSD where price is at a previous resistance level and we may see a breakout/down there too.


Good Trading!
Bijal Shah

Loonie double bottom?

Greetings Dynamic Traders,

Hope you are enjoying your weekend. Birthday wishes to those celebrating in the last few days.

Further from Javid's post last week, I could not resist putting up the Loonie given it is showing some possible opportunity. Price has reached a previous support, a hammer is on display and in proximity to a RN. In addition we have short term MACD convergence. All this suggests that there could be a double bottom formation.

The only thing that makes me question this is the current trend which is clearly down. Therefore what we may see is a temporary bounce before the breakthrough.















Note also the EURCAD which is showing a potential triple bottom coupled with a doji, we may also see a bounce here if price cannot penetrate the support line.

Good Trading!
Bijal Shah

Million Pound Homes

Good morning dynamic traders,

I wanted to do an update early today but instead we have spent the morning looking around one of the most exclusive areas in the country. Homes from a starting price of $4m and we even had a glance at a £12m house which was out of this world. Going back to look further next week.

So, what has happened on the markets. Well, the EURUSD and GBPUSD climbed it's way up yesterday and so far today the GBPUSD has given back half it's gains. The Euro is some what undecided at present.

The USDCAD moved further down yesterday and is in negative territory today too.

The Dow and S&P 500 are in proximity of resistance so watching these indices short term will be interesting. Will a breakout occur? If so will it be false? We shall have to wait and see I think.

A quick word onFinn, a new trader from the beginning of this year. Finn's trading seems to be going very well by making a profit on all of his first positions. Congratulations and well done Finn.

We have received a few emails from the members and would like to say thank you for them regarding the trades taken and the big profits accumulated.


Good trading.


Javid Shaik
Forex Analyst

Short Confluence

Good morning Dynamic Traders,

Those of you who are members will have received our email regarding a short last week which has given a little over 1000 points this morning.

Today I would like to take a look at the USDCAD which most of us know to be a favourite of Bijal's who incidentally is jet setting yet again so I thought I would fill in for this 130 business class flights per year dynamic trader.




Chart courtesy of Advanced Get. Data provided by eSignal.

The daily chart of the USDCAD recently had divergence while price retraced. The tag of the VI gave us the resistance reference we were partially expecting while creating a Doji like extreme.

You can check out the trends this afternoon on Anne's forex blog.

Good trading.

Javid Shaik
Forex Analyst

Greeting the Yen!

Good Evening Dynamic Traders!

It is a pleasure to return to the trading table after a sunny break!

Having been greeted by the predictable unreliable weather back in London, I was somewhat surprised to find my internet connection behaving in a similar fashion; one that is stifling my ability to publish notes successfully. This may continue until mid September.

What better blog to commence with than my very favourite, USDJPY.

Exactly a month ago (x refer BLOG June 15), the note promoted a southward sail. The prevailing wind has promisingly obliged to the tune of 400 pips!

A downward trend is also detailed on the 'big brother' screens indicating further earthward strength may be yet be left, encouraging the ship to head towards the zero at 90.

Below is the daily chart for this pair.

Note the recent breach of the determined range bound period since March this year, fostering further weakness in price.

Clustered with this we have a favoured breather in play, together with a dancing line-up!

However, a likely storm in the trend line on the horizon may cheat the desired direction.

Seasoned traders will not be deterred in the least by such behaviour.

A simple survey of your navigational instruments should already have determined the desired edge.

Allow your vessel to follow through!


USDJPY daily chart Advanced Get

Directed Trading!

Saba Jackson

AUDJPY gathering momentum?

Good Evening Dynamic Traders,

Hope you have had a enjoyable week so far. I have selected the AUDJPY chart for tonight's blog. Apologies for a slightly messy chart, however, I wanted to ensure I get some of the angles covered. The Daily chart shows that price has found support around the 71 mark and bounced back (possibly to resume the trend). Some of the traders out there may have thought that they have missed their opportunity on this by 3 or 4 days.

The more experienced traders will know that it is very difficult to get in at the very low and get out at the high. My point is that it is not too late and you have not missed the "boat". Price is approaching several key items which will provide us with indication of imminent action. These include resistance levels and trendline resistances, Fib reversal levels and RNs. Of course if the bears are stronger then price will find the items mentioned to be obstacles and will not be able to penetrate them driving price to go down.

If however the bulls take charge and are proved to be the more dominant force then price will break through the barriers and head north. Either way opportunity will be present. Trading with the trend will be far easier and will carry less risk.















Wishing you all a fantastic weekend and a good trading week ahead. Due to work/travel commitments my next blog will be the week after next.

Bijal Shah

Kiwi tries again

Good evening Dynamic Traders,

The Kiwi has been doing a breather/consolidation recently after a significant climbing expedition. Price went down to test a previous low and is coming back to test the resistance line again. Note the confluence of events including a Fib reversal level as pointed out on the chart which may have their own part to play. If price break through ESLT will make entry into a trade straightforward. If price does a pullback patience may be required to determine the next move.















I would like to wish a speedy recovery to our Dynamic Trader athlete.

Good Trading!
Bijal Shah

Forex trends

Good morning dynamic traders,

I have uploaded todays forex trends on to this forex blog as Anne was doing an update on Dynamic Trader blog at the same time.

I had a very unexpected voicemail at the weekend from someone I had mentored on a one on one basis a few years ago who had moved to Spain with her husband last year. They both trade forex and have also started a local business which was one of their goals. Big congratulations to Debbie and family and I am sure you are enjoying the weather in Spain every day. Not sure if you read this website often but if you see this could you please text me your phone number as it was not clear on the message.

Most people are locked into managing what they have and don't look for consistent ways of expanding their knowledge and finances. Debbie is one of those who had broken out of this claustrophobic routine when she approached me for mentoring. When I went through the same process many years ago I was explained something that I found very helpful and you may too.

Knowledge = income
Lack of knowledge = lack of income
Correct & consistent applied knowledge can = financial freedom

Todays forex trends are below.




Good trading.

Javid Shaik
Forex Analyst

Are you ready?

Good evening Dynamic Traders,

Featuring on tonight's blog are the GBPCHF and the AUDNZD charts.

GBPCHF
Price on the below chart has been steadily climbing up being supported by the trendline. Having gone through the VI, it has come back for a retest. The question is was it a FBO or will it resume the trend up? Await the correct signals and employ ESLT for entry.















AUDNZD

This chart has featured on my blog several times recently but price has continued to oscillate. Therefore it continues to be on my watchlist because at some point price will complete its breather and break out.

Price has tested and restested the support line, all the while time producing lower highs and arguably lower lows. Price has broken through the support line, VI, and trendline is curently contemplating closing beyond the obstacles just mentioned. ESLT or similar filters will ensure you don't suffer if there is a FBO should price gain momentum and head further south.















Good Trading!
Bijal Shah

Is the EURGBP going south again?

Dear Dynamic Traders,

Hope you are enjoying your weekend and are getting ready for another exciting trading week. I find keeping this thought in the forefront of the mind to be very helpful - no moment in the market is the same therefore in order to look forward you must try and remove all your assumptions and presumptions of what you think "might" happen. Just let the market guide you, that way you are not emotionally involved and it makes no difference to you which way the market goes as long as you are ready to accept the opportunity. A lot easier said than done, I know, but as with everything in life, if you keep trying you will get there.

I have posted the EURGBP chart below as it presents a potential opportunity. Price is finding resistance around the trendline and the value index. Indicators suggest a potential resumption of trend down. However you will note a mini trendline support (drawn on the chart) which needs to be penetrated for confirmation. The conservative traders may decide to wait for the recent low to be broken before entry.
















Good Trading!
Bijal Shah

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Kiwi

Good Evening Dynamic Traders,

Hope you are all having a good week. I would like to take a moment to recognise the incredible achievements of the King of Pop, how many people get to contribute in such a fashion and touch so many millions of people.

Tonight's chart for review is the Kiwi, on a slightly smaller time frame (4 hours). Price has been consolidating for a while on the larger timeframe. Price has broken through the VI and come back to test it twice. Having hit a Fib breather level the second time it appears to have retreated south with some other confluences as mentioned on the chart. Aggressive traders may already have positions open. Conservative traders may choose to wait for further confirmation until the previous low is broken or some other confluence to trigger entry.
















Happy Trading!
Bijal Shah

Loonie anticipation

Good Day Dynamic Traders,

Hope you are having a great weekend.
As I write this blog, there is an epic Wimbledon men's final going on and it is difficult to support one individual as they are both playing phenominal tennis and I have to give credit to their persistance and stamina. Without the psychological control neither of them would have been in the race up until now.

Today's chart is of the Loonie. Saba posted this chart around two weeks ago when price was contemplating a support line. Price has continued to hover around a similar region which happens to be a Fib breather level and has so far failed to break beyond it since the last 7 bars.

Should price manage to break up, it faces the VI and a Fib reversal resistance. Note the RN and MACD divergence in play. Time to get ready in anticipation of price providing guidance as to its next move.














Fruitful Trading!
Bijal Shah

Progress for the week

Good evening Dynamic Traders,

NFP normally is on the first Friday of each month but was on Thursday this month. It usually produces huge amounts of volatility and is therefore safer to stay out of the markets. Today's movement does not appear to be as great as it is usually.

Given that it is Friday tomorrow I have decided not to post any new set ups but to take a look at the ones I have posted recently to see how they have fared.

First up is the AUDNZD. Price tested the support line and bounced up some 300 pips. It is now testing a previously supporting trendline and has produced a doji. Will it be able to continue to go up to test the previous high or will it find resistance and succumb to the downward pressure?















The GBPCAD also found resistance produced a doji and a pullback. We will be on the lookout to see if price will continue down to retest the value index or indications of a continuation up.














The GBPUSD and EURJPY have not yet broken out so are still very much on the watchlist.

Wish you an awesome weekend.

Good Trading!
Bijal Shah