EURGBP flag?

Good Evening Dynamic Traders,

An interesting day in the markets, there have been some large movements on today's bar on most of the major pairs. There has been a good amount of high impact news which may have quite possibly contributed to the moves.

Below is the EURGBP chart which looks like it may potentially be doing a two legged extension. Price made a move down, did a pullback to a Fib breather level and then continued down. A BOB has been produced today which may continue towards the support and possibly the value index. Fib tools can be employed to work out the distance of the move.














The Euro has reached a trendline support with today's move. Price has been in an uptrend for some time now, will it find support at the trendline or will it bounce back up? The smart money will wait for confirmation to rejoin the trend.














Good Trading!
Bijal Shah

Set ups for the week

Dear Dynamic Traders,

Hope you are enjoying your weekend. The markets have been very generous of late particularly for those following the trend. The AUDCAD mentioned early last week continued to rally and produce nice profits. It is however approaching a strong resistance level (as pictured below in the weekly chart) and a RN. As the trend is up there is nothing stopping it from continuing to rally, though a pullback may be witnessed and therefore good trade management is required for profit preservation.














EURJPY

The EURJPY has been in a form of consolidation for a while as can be witnessed from the chart below. Price has pushed through the value index and gained some momentum. It is now contemplating a previous resistance. If it manages to successfully break through a good long opportunity presents itself with a possible ESLT entry.














USDCHF/Swissy

The Swissy has been in a downtrend for a while as per the weekly chart below. Again with this chart price is tackling a previous support and a significant RN. If the sellers outweigh the buyers the trend will continue. Its a good time to tighten the stops to preserve profits or get ready for another opportunity to enter if price successfully tackles the upcoming obstacles.














Good Trading!
Bijal Shah

Good Evening Dynamic Traders

Hope you're all enjoying your trading week and progressing well.

The Loonie today has tried to continue climbing up, but the candle today seems to be failing the high. As mentioned, yesterdays candle tagged a fib breather level so we may now see a continuation with the downtrend. But we won't know if this possible bearish flag formation is complete until we see a BOB of the low, so patience will be a virtue for this pair, as the market could do anything.

The EURNZD on the daily timeframe has continued to oscillate around the recently broken support level, not giving us any real definitive move as of yet. But checking in on the 1hr chart, we may have a poss 123786. For the day traders this will be a good one to keep an eye on. The MACD has just crossed the midline and the current bar is nice and bearish. We may just see a continuation down should this chart pattern come to fruition. As always carry out your own analysis and consult your toolbox of strategies and rules.
















I'll be unable to post any blogs for a few weeks now as I'll be out of the country, but you'll still have the great updates from Bijal and also insights from fellow bloggers on www.fxcps.co.uk and www.fxcps.eu.

Have a wonderful few weeks. Remember Dynamic Traders - plan those trades and always trade your plan!

Great trading to you all.
Sonia Molina

Loonie Pullback

Good Evening Dynamic Traders

Tonight let's take a look at the Loonie. As posted on 9 Oct, price gave us a BOB of the low. Some of you may be in this trade and initially would have seen some good profits as price continued south. However, in the last few days we've seen price bounce up for a breather and yesterday's bullish candle may have tested many a traders emotions. But the SM traders would most certainly expect price to retrace after a BOB - and surely what we can see is price simply retesting S as R. Price has nicely tagged a fib breather level which is also clustered with the S/R level - the figure is also in proximity . Of course we don't know what price will do next - will price use this R cluster as a springboard to continue down with the trend or will it resume to it's recent ranging nature?














What is the overall trend telling us? Take a look at Stochastics to help you. Overall, odds are in our favour for a continuation south, but let's see how price unfolds for the rest of the week. High impact news is due out on both currencies tomorrow, so we may see some volatility in price.

Please carry out your own your analysis.

Great trading to you all!
Sonia Molina

EURNZD retraces today

Good Evening Dynamic Traders

Hope you've all had a great trading day.

Let's take a look at what EURNZD did today after yesterdays post. As mentioned, there was a chance that sellers may remorse the big move from yesterday and allow buyers to step in - and today's candle seems to be confirming that. The figure has most certainly played a psychological barrier for the market. This is a great example of where ESLT would have protected you from the bounce up in the market today. This may simply be a retracement before a possible continuation with the friendly downtrend. We might see some consolidation before price squeezes out, as it will inevitably be forced to decide with the upper TL and support/RN level surrounding it.
















Keep those odds in your favour and remember the market never moves in one direction, so pullbacks will always be a part of trading - in fact they're needed for healthy trends! But of course trends never last forever, so the psychological figure may even prove too strong to break and we may see price reverse. Let's see how this pair unfolds this week and await the markets move.

Here's to great trading!
Sonia Molina

EURNZD

Good Evening Dynamic Traders

I hope you all had a fantastic weekend and enjoyed a successful day on the markets today.

Tonight I wanted to share the EURNZD daily chart. Price has been heading south in a fairly slow but steady fashion - a nice looking consistent downtrend without any deep pullbacks, which is always good to see. As of tonight we may well see price close with a new BOB of the low with a very bearish candle - but we need to wait for a confirmed closed bar.

Should we see a BOB, all the Dynamic Traders can use the ESLT tool for entry. Although price has crossed the big figure, we are still in close proximity to it, so be wary of the fact that we may see some traders remorse in the form of a FBO. We do however have the trend in our favour and we also have stochastics confirming that. Let's await and see what the market offers tomorrow.













Please carry out your own analysis before placing any trades. Check on your favourite indicators, consult your TP and rules and make a judgement on your trade.

Here's to great trading! Have a great evening.

Sonia Molina

AUDCAD opportunity

Good Evening Dynamic Traders,

The Euro 123886 failed last week after a 200 ish pip retreat, the buyers were strong in the market and price made further bullish moves. Price is now approaching the 1.50 mark and previous resistance confidently but will the buyers outweigh the sellers again?

Crude oil has also been very bullish. At the time of posting last, price was at 7400 and is now over 400 pips higher. Well done to those who took the trade.

Below is the daily chart for the AUDCAD. Price is toying with a previous resistance, a RN and a possible DT if it fails to break through. If however, the bulls win the game, we will have a BOB and an opportunity to apply ESLT to enter a trade with the trend. One word of caution I would like to add is that a glance at the weekly chart is required as price is in very close proximity to a Fib reversal level.














Good Trading!
Bijal Shah

AUDJPY welcomes BOB, GBP update

Good Evening Dynamic Traders

Apologies for there not being an image, I seem to be having technical problems with my software and it won't upload. Today we welcome a BOB on the AUDJPY daily chart - and a very bullish bar at that! We've been following this pair for a few weeks now in anticipation of this possible breakout. Both MACD and RSI are still showing good strength and momentum, although we've had quite a consistent run up in the past couple of weeks, so may see price take a breather soon.

Remember we have the up trend in our favour, price is above the VI, our recent consolidation tagged a fib breather level and we now have the BOB of a previous high. So stacking up the odds we're in good shape for a continuation to the upside. We are approaching a RN however, so may well see price lose some stream in the meantime. On the other hand it may well ignore the RN and just keep going! Dynamic Traders, using ESLT would be a good choice of tool here, armouring you from any potential FBO's.

Looking at the GBP we failed to see a breakdown and price has bounced up and broken above the VI. What does this mean? Will price resume to it's current up trend? Or is this simply a retest of the H&S neckline? Whatever the case price is still ranging, so my preference of entry will either be a BOB of the high or of the low. Until then as SM we should patiently await for price to make a definitive move.

As always please carry out your own analysis.

Wishing you all great trading!
Sonia Molina

Black Gold Breakout on the horizon

Good Evening Dynamic Traders,

We have a possible breakout of crude oil on the horizon after a period of consolidation. The overall recent trend has been up and therefore a break up would not be surprising. Price has tested the resistance but has failed. It has now broken through one resistance level and now its time to wait and see if it can break through the next and show signs of continuation. MACD is showing good momentum at present.

If price fails to break through, the smart money will notice the possible signs that will turn into reversal signals. As mentioned previously, no one know what is going to happen. The best preparation you can do is to not make any assumptions but be ready and act on the signals that the market provides.














Emotion Free Trading!
Bijal Shah

Mid week review

Good Evening Dynamic Traders

We're already mid trading week! I'm having troubles updating images tonight but hopefully you can follow my comments. I'm checking in on my previous blogs on GBP, SGD, ZAR and AUDJPY.

Looking at GBPUSD, price yet again failed the BOB and rebounded off the support area where buyers obviously stepped in. What looked like a possible BOB yesterday morning, ended up very differently by close of the trading day. This is a great example of being patient and waiting for the market to make it's final move! You can see price is simply ranging between this VI R and S area, clearly telling us buyers and sellers are battling it out - who will win? Could we see a TT at the VI and a move down? Or will price continue to seek comfort near the VI for a while? Patience is key whatever the case.

SGD has had a bearish couple of days and on first glance we may think the breather is over. But of course as Dynamic Traders, we know this breather isn't complete without the BOB of the low. So again patience is needed to enter a possible trade here.

ZAR is also testing the support level tonight and should there be a BOB, remember we have the channel TL looming close below as the next barrier.

AUDJPY today has tagged the previous high and retreated slightly. Remember we have the RN clustered with the R, so we may see some indecision here before a potential BOB. Again wait for the confirmation and then take your action.

Remember, standing aside is also holding a position. You might be ready to trade, but the markets might not be ready for you. So be patient and wait for the correct signals to enter.

Please always carry out your own analysis.
Here's to great trading!

Sonia Molina

Will GBP breakdown?

Good Morning Dynamic Traders

What a lovely morning it is today. Hope you've all had a great start to the trading week.

As you know, GBP has been on my watchlist recently as I've mentioned it on the blogs a couple of times now. This morning price is testing the S level again - certainly not the first time! End of trading day today will be very interesting to see if we finally have the awaited BOB. We did have a BOB attempt yesterday which failed, so we need to be cautious of any FBO's. This current ranging period has lasted a few months now so as dynamic traders we'd like to see a clear BOB before entering any trade.
















Hopefully you all uncovered the H&S chart pattern, which Clayton also talked about last week. There are also other confluences to support a possible new trend down. We now also have a false bar forming at the bottom on Stochastics. But as mentioned time and time again, we must wait for the market to make it's move and give us a confirmation. As we know, the markets could do anything! The US market opens again today after a Bank Holiday so there may even be some unexpected volatility.

Please always carry out your own analysis. Have a great trading day.

Sonia Molina

Review ZAR, SGD, AUDJPY

Happy Monday Dynamic Traders!

Hope you all had a wonderful weekend.

I wanted to start the week off by taking a quick look at the trades mentioned last week. Let's start with ZAR. Price did indeed find a resistance point at the figure/fib level and then continued down, however still remaining within the comfort of the channel. Price has recently found support and now seems undecided as to what to do next. Should we see a BOB of the low we then have the lower channel TL next on the cards as support so the move may be short lived. We could see price bounce back up to continue the channelling pattern.
















SGD also continued down, ignoring the figure. But from Friday price has been bullish and seems to be taking a breathe in the down trend. Price has tagged a breather level today but we could see further moves up before a continuation with the down trend.
















AUDJPY did see that BOB of the squeeze and has continued up ignoring the R & RN. The aggressive traders may have already entered this trade. The more conservative will be awaiting a BOB of the high for a potential continuation on the upside. We're fast approaching this area so all eyes on AUDJPY this week! Will it breakthrough or will it find R and reverse?

















Wishing you all a great Monday and a great day of trading!

Sonia Molina

Euro 123886

Good Day Dynamic Traders,


Below is a 240 chart for the EURO and a follow up on the USDJPY which was posted last week.

The Euro has seen a steady (ish) uptrend since March this year. Having reached the 1.48 mark recently we saw a pullback at a previous resistance. Currently as the chart stands it appears to be doing a 123886. As with most chart patterns, it is difficult to confirm until after the event therefore the presence of confluences is crucial. I am not suggesting that you trade the 123 as it would be going against the trend. However, you may want to wait for the completion and if price resumes the trend a good opportunity may arise for entry.














The USDJPY has produced a large bullish candle on Friday. Price is now approaching resistance which it may hit and retreat or it may penetrate. I have also drawn in a further resistance should price break through the first layer. If price finds it difficult to break through given the trend down, an opportunity will be available to enter short again.














Good Trading!
Bijal Shah

The Loonie

Good Morning Dynamic Traders

It's already Friday and what an interesting week it's been in the world of trading!

Let's take a look at the Loonie again. I had mentioned this pair almost a month ago now and price continued to be squeezed and has now finally broken down the 2 month long range/support area/10600 area.
















But what will happen now? We are still in the vicinity of the RN comfort zone and we can now see MACD converging. So could we see some further indecision/consolidation before a possible continuation down? Looking at the overall price action we can see the trend is down - despite the deep pullback in June it's still a good looking trend.

Gather your confluences and it's also worth looking at HTF's to make a fair judgment on this chart. Remember to always carry out your own trading analysis.

Enjoy your weekend!

Sonia Molina

AUDJPY BOB today? What next?

Good Morning Dynamic Traders

I hope you're all enjoying success on the markets so far this week. The blog from Tues on SGD has seen price continue down. If you're in this trade you should be enjoying good profits.

I'd like to take a look at the AUDJPY which I mentioned back in mid Sept. Since then we saw price continue ranging with no real set up to enter on. As of this morning, price is piercing through the upper TL of the triangle formation with some real rigour. Of course we're still very early in the trading day so anything can happen between now and close.
















Should we see a BOB, we then have a R level to contend with. Price has attempted to break this R several times without success. To strengthen the R level further we have the RN too. So what will price do? Well it doesn't have many options to be honest. It will either finally break the R and go up, or find it too difficult to break and reverse or simply continue ranging. All we can do is gather our information about the chart - we have the lovely trend as our friend, VI is acting as support for price and RSI has recently crossed above 50 - although it has been dipping up and down.

Should price break the R area, it then has the previous high to break before a possible continuation in the trend. So put the odds in your favour and await a correct entry.

One to check in on tonight to see how price finishes. As always please carry out your own analysis before entering a trade and always sanity check with your rules and TP.

Great trading!

Sonia Molina

SGD continues down

Good Evening Dynamic Traders

Welcome back Bijal - nice to have you with us again. Hope you're all capturing good profits from the markets so far this week and managing your trades well.

I wanted to go back to the Singapore Dollar, which I mentioned on 22 Sept. At that time we saw price tag a support cluster and bounce up slightly. The bearish engulfing candle produced didn't give us the move south we were looking for to trade with the trend. Since then we have seen price oscillate, which after a healthy move down is no surprise.













Today's price action has given us a BOB of the range/recent low. However you will also notice that price is bang on a RN, so what will it do now? We know the trend is in our favour and indicators are bearish, but there is always a possibility of a FBO. So if entering do ensure ESLT is used and if already in this trade be prepared for a possible bounce up should this be a FBO and manage the trade appropriately.

As always please carry out your own analysis. Check your strategy and rules and very importantly take conflict free action.

Great trading to you all!

Sonia Molina

Gold creates a new all time high

Good evening dynamic traders,

Hope you are all having a good week.

There has been a barrage of high impact news out today and it has no doubt had an impact on the markets today. The price of Gold has made an all time high confidently piercing through previous resistance. Price changed direction in April and has been going up since. Will it continue to hold is the question?














The next chart for discussion is the USDJPY. This chart has been in a downtrend since April this year although it wasn't so easy to determine the trend until recently. The head and shoulders spotted in May has completed and price has been making lower lows and lower highs. Price is now arriving at a previous support level and is currently at a Fib reversal level. If you are already in the trade, good trade management is now required. If not in the trade, one to keep an eye on, a good entry may be available soon.














Good Trading!
Bijal Shah

Tokyo session

Morning traders,

It is not often I do an update as the Dynamic Traders seem to have taken over but I thought I would put in an appearance today.

The Tokyo session provided some good number of pips which should add to the already excellent profits caught by Mobo system users. Since August Mobo users have been enjoying generous profits and overnight this continued.

Subscribers to our webinars will know of a trade I have taken many times and has given out a lot of profit. The USDZAR is a favourite of ours and one that we look at quite often for entries on IRS and our other strategies. Webinar attendees should look at this for a possible trading opportunity on this cross.

Good trading to you all.

Javid Shaik
Forex Analyst

Channelling ZAR

Hi Dynamic Traders

Hope you're all well and had a fabulous weekend. The autumn weather seems to have arrived here in London.

I wanted to bring your attention to the South African Rand - not everyone's favourite currency due to the big moves it makes, but may be one you want to keep an eye on. Looking at the daily chart, we can see the current trend is down. Back in April we saw price break below the VI suggesting a bearish trend forming. Price has since formed a downward channel and we are currently at a fib breather level coupled with a RN.
















Price has found resistance at this point and Friday gave us a bearish candle. So far today price is also in the sellers favour. Will price continue to go down? The more aggressive traders may already be in this trade, the more conservative will be awaiting a BOB of the low. You may also notice a previous 123786 as well as the false bar on stochastics - both helping to put the odds in your favour. Of course price may bounce up and test the upper TL of the channel - we simply don't know what the market will do. But one to certainly keep an eye on should we see price break the low.

Have a good evening and here's to great trading!

Sonia Molina

NFP tomorrow

Good Morning Dynamic Traders

Hope you're all enjoying the week and trading with confidence!

Due to NFP tomorrow, I'm not looking to open any new positions. Before this high impact news, we can expect to see some volatility in the markets, so my preference is to stay.

But I just wanted to do a quick update on the GBP and GBPJPY which I wrote about this week.













You can see once price reached the S zone it bounced up and has now retested the VI as R. This R area is also clustered with a fib breather level. Interestingly yesterday also produced an indecision candle. So where will price go now? Take note of the false bar showing up on Stochastic - are we in the beginnings of a new downtrend? You can see I have also added a TLR. Should price break back above the VI then it will be contending with this as it's next R. For me this pair is going to be very interesting to watch. See what else you can uncover - do you notice any chart patterns?

Moving over to GBPJPY, price found the 140.00 figure tough to break and is now doing a pullback. Will it repeat the same bearish flag chart pattern? Check your indicators and see if they can guide you in any way. Should the pullback tag fib breather levels then entry can be taken on a BOB of the RN and pivot low with ESLT - of course this is dependent on your trading style and TP.













My next update will be on Monday now. As we're entering a new month, take some time to review your trades from September. It's hard to believe we only have 3 months left in 2009. It's a good point in the year to check in on your goals and assess where you're at too!

Enjoy the weekend. Here's to great trading!

Sonia Molina