EUR & Swissy

Dear Dynamic Traders,

Hope you are enjoying your weekend. The Euro has provided nice profits and is continuing with the flag pattern. That said, the weekly is showing price approaching the value index and a Fib breather level. This should be incorporated into your trade management as appropriate.















I mentioned the Swissy chart last week and a potential double top. Price has been dominated by the bulls and has not only broken through previous resistance but also the value index showing strength to the upside. If price has changed direction, and you are not in the trade, a pullback or retest of the resistance turned support may provide a good opportunity to enter.














Good Trading!
Bijal Shah

DKK continues up

Evening Dynamic Traders

Just a quick update from me on DKK. As mentioned on last weeks blog I was waiting for price to retest the recently broken VI and take advantage of the second wave. However price didn't retest the VI quite the way I would have liked.. it simply had a couple of low volume days and has now continued up.

Yes I could have entered and some aggressive traders out there may well have done so, but with the overall trend still being down and the chance of traders remorse I've decided to stay out of the trade until I see a decent breather in price, ideally tagging a fib breather level. Besides my R:R wouldn't have been good enough to enter as the R level looms at 5400 which could have stopped the trade in its tracks. So I've decided to hold off...still on the watchlist though.














Wishing you all a good evening.
Great trading!
Sonia Molina

SEK at resistance - double top?

Morning Dynamic Traders

The Swedish Krona is on my watchlist. My preference is a short trade as the trend is down (look back further on the daily chart). Having said that, I'm indifferent to which direction price goes, so long as the right set up is there for an entry.

At the moment price is contending with a strong resistance area, provided by a previous resistance level, the VI and RN. Odds suggest price may weaken at this point, which could give us a DT chart pattern as an additional confluence for a shorting opportunity. Entry could be taken on a BOB of the recent low, or of the TL.

The other scenario of course, is that price could break through this R cluster and joins the bulls for a price rally. Note the previous convergence (which may simply be relating to the recent bounce up). Should there be a break up and a reversal situation, I would like to see a BOB of the VI followed by a breather/retest before entering long.

















Have a fantastic day of trading. Keep it emotion free and always stick to your game plan. Great trading!
Sonia Molina

Double Top

Good Evening Dynamic Traders,

Hope you all had a good weekend.

Tonight's chart for discussion is the Swissy. I got stopped out of this pair a while back when it started to do a pullback to the upside. Price has since tested the 1.0500 area twice and is showing signs of retreating again potentially creating a double top (in a downtrend) if price continues down. The chart highlights further confluences which the SM will have ideintified.














Good Trading!
Bijal Shah

EURNZD bearish day

Hello Dynamic Traders

Hope you had a restful weekend and are all set for another trading week. I'm not in any new positions as of yet, as set ups are not quiet ready for me. I have EUR, DKK, EURNZD and SGD on my watchlist though - so it's a patience game. As they begin to show signals for a potential trade I'll post it on the blog.

The EURNZD daily chart is forming a bearish candle so far today (of course that could still change). That is coupled with a fib breather level and the major figure - and we're also in the midst of this R zone. The R cluster may be enough confluences for the aggressive trader, but I am looking for a BOB of the new low from 19 Jan for a continuation down.

















Being a dynamic trader is about knowing when to take the right opportunities when they present themselves (according to your own TP and rules), but also knowing when to step aside and wait as the markets decide what to do.

A great evening to you all and great trading!
Sonia Molina

EURNZD FBO?

Morning Dynamic Traders

Almost the end of another trading week. This week's been an interesting one. There have been pullbacks across some currencies and I was stopped out of a couple of trades - Gold and EURNZD. Remember, losses are simply the cost of trading and it's important to learn from the trade and then move on to new opportunities.

My blog from last week talked about a possible trend continuation for EURNZD and I had entered using MOBO. So let's see what's happened.
















It looks like price did a FBO. The bears found it difficult to keep control and allowed bulls to take over. Now price could continue north towards the VI or may find resistance at the major figure. Drilling down to the 4hr chart may help us further.

















Price is finding resistance at the VI which is also clustered with a fib breather level. The recent candles are suggesting indecision and a struggle between sellers and buyers. So what next? No one knows and I'm certainly not going to second guess. My preference is still to trade with the trend so I'll be keeping a watchful eye on this pair for continuation signals. The market needs to choose it's path before an appropriate trade can be placed.

I'm still in AUDCHF and EURAUD trades and managing accordingly.

Have a great weekend.
Sonia Molina

Gold direction

G'day Dynamic Traders,

I have been stopped out of my long Gold position as it struggled to break up past the Fib breather level.

We now have a lower high and price is looking to retest previous support. If it manages to break it the next possible area is the value index which also coincides with Fib levels. An opportunity may become available if price breaks the next support level and creates a lower low.















Good Trading!
Bijal Shah

Danish Kroner

Good Afternoon Dynamic Traders

I hope you're all having a great trading week. I'm back in the GMT zone after a few lovely weeks away in South America - a slight adjustment with the weather but all in all great to be back! A good time to return as the markets seem to be making some healthy moves.

Below is the Danish Kroner daily chart - we could have a possible reversal situation. The recent long term trend is down, but with the recent bullish action since December we now have a BOB of the all important VI and also the recent high. We could also have a possible bullish flag formation and ST has formed a false bar on top. So we have various confluences to support a long opportunity. The weekly chart also shows convergence.

















The aggressive trader may well be in this trade already. I'm waiting for a breather/retest of VI, to then take advantage of the second leg. We do have R looming at the 54000 level, but there are some potential pips to be taken before then should the opportunity present itself. Of course this could just be a FBO in which case I wouldn't be triggered into this trade. DKK is on my watchlist.

I was also triggered into EURNZD and AUDCHF yesterday and will be managing the trades according to my strategy and rules. So far they are in negative territory, but as we all know that's the nature of trading.

Have a great trading day!
Sonia Molina

Euro

Good Day Dynamic Traders,

Hope you have all had a good week. Apologies for not putting up a blog this week.

I have been eyeing up the Euro and it has been some days as you can see the consolidation. After a nice long run up price found resistance at the figure and has taken a fairly steep dive down. Having found support at the value index it has consolidated and the pullback has been at a Fib breather level. We don't know if the established trend has changed direction, however, there is a possibility of a bearish flag given some of the things I just mentioned and the chart itself. In order to take opportunity of this should it happen, I will be looking to enter at the break of the low with a possible equivalent move down of the first leg.















Good Trading!
Bijal Shah

EURNZD trend continuation?

Afternoon Dynamic Traders

I hope you're all having a great trading week and taking positive action with what the market is offering at the moment.

Just a quick update from me on the EURNZD Daily chart. Price is showing bearish signals and a good opportunity to enter as soon as we have a BOB of the recent low. Confluences are clear - we have a H&S formation, price is below the figure and we have a recent flag formation which has also retested the neckline. Of course we also have the all important trend in our favour. So I'm awaiting a MOBO entry. An ESLT entry on the BOB of the low can also be taken.














Have a great rest of the week.
Great trading!
Sonia Molina

AUDCHF BOB

Hello Dynamic Traders

Just a quick end of week update from me. Unfortunately I don´t have eSignal to upload the AUDCHF chart at the moment, but if you check in on the daily chart, this pair gave us a break and close of the previous high on Thursday. So a good opportunity to enter next week with ESLT, as it looks like the H&S may take form to continue with the uptrend.

I have also been triggered into EURAUD and in good profits - a popular trade with the bloggers.

Wishing you all have a great weekend - for those in London, enjoy the snow! I´ll checking in on the markets mid next week.

Great trading!
Sonia Molina

Nice Profits!

Good Day Dynamic Traders,

The EURAUD chart mentioned last Wednesday has produced lovely profits. Please see chart below, something to be mindful of is that price is approaching support and RN.













Other opportunities I mentioned on Monday that I am looking for suitable entry on are GBPAUD and Crude Oil both of which are looking at breaking out from support or resistance.


























Good Trading!
Bijal Shah

Happy New Year

Good Day Dynamic Traders

I hope you all had a fabulous time over the festive season and are now energised and ready for a fantastic 2010. Although I'm away, (enjoying 30 degree temperatures!) the beauty of trading is you can do it anywhere, anytime! I'm keen to see what will happen over the next couple of weeks.

Although I missed yesterday's MOBO opportunity with EURAUD, I was looking for a clear break of the RN/R level before entering. So I have placed an order on the low of yesterdays candle. There may well be a bounce up before a continuation, but confluences suggest price should continue south.

I am also looking closely at AUDCHF which I mentioned several times on the blogs at the end of December.














Price hit resistance around the 9470 mark again and retraced. However since Christmas, price has been fighting back with strength and is fast approaching the same resistance level. We may well have an inverted H&S, which would be a strong chart pattern for a continuation north. I'm awaiting a confirmation with a neckline/resistance BOB before entering a trend trading position. As we know, good trends continue to break resistance levels, but of course we could see price stumble at this level yet again. Let's wait and see what price does.

Other trades I'm looking at are EURNZD (similar to the EURAUD blogs both Bijal and Zaheer have mentioned) and Gold. Note, both NFP and unemployment news is due out this week.

Great trading!
Sonia Molina

Welcome 2010!

Good Evening Dynamic Traders,

Wish you all a very Happy New Year filled with lots of trading success.

I have been triggered into the EURAUD mentioned last week, a clear bullish bar on display today. Don't be surprised however if price does go back to retest the previous support as price does not always travel in a straight line.

Other charts on my watchlist for a potential break are AUDCHF, Crude Oil, Dow Jones and EURNZD.


Good Trading!
Bijal Shah