AUDCHF flag?

Morning Dynamic Traders

Below is the AUDCHF daily chart. I last wrote about this pair in early January while I was away. I was triggered into a long trade at that time, but was stopped out due to the deep pullback, which actually was a consolidation period for price. But not to worry - all part of trading. A loss certainly shouldn't cloud one's judgment for future opportunities. You have to move on remembering each moment is unique in the market!

















Recently price has provided a HH and as expected price is having a breather after quite a long run up. So a perfect time to be on guard and assess your bag of trading tools. What are our confluences:

1. The trend is up - although price does pullback quite regularly, so it may be a bumpy ride
2. VI support
3. TL support
4. Price above major RN 9.000
5. ST false bars
6. Possible flag forming? Retest of R as S.

I'm awaiting a bob of the high for entry on this one. Please do carry out your own analysis before placing any trades.

Abundant trading!
Sonia Molina

EURNOK & GBPAUD updates

Morning Dynamic Traders

I hope you all had a great weekend and enjoyed the beautiful sunny day we had on Saturday. Hopefully Spring is on it's way!

An update on two trades I talked about last week.

GBPAUD - as you know I am short on this and it has been a very successful trade with over 500 pips in the move so far. Price has now broken a major support area and as of this morning is retesting/having a breather. There is always the chance this could be a FBO - but confluences of a TLR, downtrend, price below VI, ST - all stack up in favour of a trend continuation. This could also be a good opportunity to compound your trade if risk free.

















The Daily chart also presents a good set up for a classic BOB/ESLT trade or MOBO. Again there is a chance this could be a FBO, especially as price has been consolidating for some time. ESLT should provide that extra protection. Be aware of the RN which is not too far below - this may provide some support.

















EURNOK - Price did find support at the major RN 8,000 and bounced up. But we now have additional confluences for potential further price weakness. Price has now retested previous support as resistance, also tagging a fib breather and we have the added weight of a TLR, keeping price down. Again, a BOB of the low and of the RN is what's needed for a short entry.

















As always please carry out your own analysis. Have a great SM trading day!
Sonia Molina

JPY - Second bite of the cherry?

Good Day Dynamic Traders,

Hope everyone is enjoying their weekend. The days are finally getting longer and lots to look forward to in the coming months including the world cup!

A brief update on my last blog:

Gold: Still finding resistance around 1125. Waiting for further signals before entry.

CADCHF: MA has been tagged on the weekly. Daily presents a gravestone doji. Again there may be a pullback before a second try, no one knows so waiting for further confirmation before entry.

EURNZD: Shows a bounce off the support line which is not unusual. Again patience is key before entering. As I will be entering with the trend I will wait for a breakdown.

The USDJPY chart below shows price reaching VI and trendline resistance and a candlestick reversal providing a possible short entry opportunity. Various entry techniques can be applied once you are comfortable with taking on the trade.














Good Trading!
Bijal Shah

Opportunity Awaits

Good Day Dynamic Traders,

Hope you are all having a fabulous week. I have posted three charts below: Gold; CADCHF; and EURNZD.

Gold
Gold has seen an up trending chart until the end of last year when price started to decline. Since then we have seen price produce lower lows and lower highs which suggests a change in trend. Price has not broken the trend line support yet although it has been tagged. Price has now arrived at a previous resistance and if it fails then we could see a double top. If price breaks up then there are some further Fib based resistances not too far away. Indications suggest price heading back down - conservative traders will wait for break of the previous low, aggressive traders may decide to short sooner based on other confluences.














CADCHF
I decided to post this chart because price has broken out of a triangle/previous resistance at a major RN. Price is now approaching the VI and if it breaks through this then a great long opportunity may await for the taking.














EURNZD
Price on the EURNZD chart has arrived at previous support close to a RN. Those that are already in the position may be looking to compound upon breakdown of price. For those not in the trade, an opportunity may present itself for entry based on ESLT or your own rules. One to keep an eye on!














Good Trading!
Bijal Shah

EURNOK at RN

Good Evening Dynamic Traders

I hope you've all been having a successful few days on the markets. Yesterday saw some retracement on a number of pairs, but today many have gone back in the direction of the favoured trend again! So certainly some volatility around and for those who are day traders, there have been plenty of intra day pips for the taking! For the swing traders it's all part of the medium term strategy - patiently riding out the breathers.

I wanted to highlight the EURNOK tonight. I last mentioned this pair way back in early December where price was showing signs of weakening - and indeed it did. The trend is clearly down. In Oct-Nov time price did a deep pullback giving us the DT formation. Price then continued to weaken. You can see the general pattern of this pair - the moves down followed by consolidation.

















We're at a significant point with this pair now. Price is at a major RN - 8.000. With Monday's candle you can see the classic buyer/seller indecision at the RN - the markets weren't sure what to do and usually sellers start closing their positions in fear of price bouncing up. But today we have a bearish day and as we speak a possible bob of Monday's low.

Should price close beyond the support and RN we could see a continuation with the trend. ST is also forming another false bar. MOBO could be used here or for a safer trade a break and close of the support/RN and apply ESLT for extra armour. Of course price could do a FBO or even find support and bounce back up. But odds suggest a continuation could be on the cards!

As always please carry out your own analysis before placing any trades.

Abundant Trading!
Sonia Molina

GBPAUD end of breather?

Good Evening Dynamic Traders

I hope you all enjoyed the weekend! The artic conditions in London aren't giving up.. more snow on the way apparently. Well if we do end up snowed in again, at least we have trading to keep us busy.

I wrote about GBPAUD last week - a good trade as it handed out nice instant profits and I'm now managing this trade without any risk. I hope some of you traders out there also benefited from this market move. I mentioned that price was probably due a breather after its steep move down and indeed that is what happened. Nothing magical about it.. it's trading basics. After every move, we'll usually see price have a breather.














On the chart you can see the price retracement, almost tagging the VI as R (nothing's exact in trading!) Check out the candlestick formations we have - a sizeable spinning top soon followed by a bearish engulfing candle. At the same level we also have a fib breather acting as R. So a nice collection of confluences for a short entry if you're not already in this trade. If you're risk free, a possible compounding opportunity on the horizon for a continuation. I'm awaiting a bob of the low for entry. Bear in mind the RN 1.7500 could act as support and check back in with the big brother timeframe for S/R levels.

Please carry out your own analysis.

I've started reading 'How I Made $2,000,000 in the stock market' .. such an interesting read! Worth putting on your reading list if you haven't read it already.

Abundant trading!
Sonia Molina

GBPCAD bounce followed by break?

Dear Dynamic Traders,

Happy Valentines Day to you all!

Both the EURCAD and EURAUD have been producing lovely profits. Hopefully the readers of the blogs have benefitted too given the wide coverage these charts have had on the blogs.

Below is the GBPCAD chart which has been in a long term downtrend. There have been a couple of deep pullbacks and now price is presenting a double bottom. If this is to pan out as a double bottom then price is likely to bounce. However, its too early to consider going long (unless you are a short term trader) but a bounce can be expected and perhaps anticipation of an entry point on the break of the previous support given the long term nature of the chart.















Good Trading!
Bijal Shah

GBPAUD breaks VI

Afternoon Dynamic Traders

As mentioned in Monday's blog, I was awaiting a VI BOB of the 4hr GBPAUD. The daily chart suggested further weakness and I used the lower timeframe for entry as I could see the 4hr VI was a potential threat on the horizon. As you can see on the chart, price hovered around the VI until yesterday afternoon gave the awaited VI bob. ESLT was applied for entry and price has since triggered the trade, broken the next support area and hit my T1. I am now risk free on this trade and managing my profits nicely. Price has moved around 200 pips today, so a breather after this big move down could be due.














The JPY 1hr trade I mentioned yesterday did a FBO downwards and then bounced back up into the triangle. As a SM trader, the ESLT tool would have have protected your trade from being triggered. For me this set up is looking less appealing now due to the long consolidation it's having. Also, the support level just before 89.00 seems to be maintaining it's strength, at least for now. So instead I've put the 4hr/Daily back on my watchlist - awating a more definite bearish signal. Patience for a swing trade on this one.

Wishing you all a great day of trading!
Sonia Molina

Yen intraday squeeze

Morning Dynamic Traders

I'm looking at some intraday possibilities today. I usually focus on Daily charts for swing opportunities but part of my TP is to introduce variety to my trading so I'm looking at smaller timeframes today.

Below is the 60min JPY chart. As you can see price plummeted at the end of last week, likely to be as a result of NFP. Since then price has been consolidating and we now have a squeeze formation.

















Let's look at the odds:
1. Overall higher TF's suggest a downtrend
2. Price is below the VI which is acting as R
3. In addition to the VI we have the TL and RN resistance cluster
4. MACD divergence

Odds suggest price may weaken - but there's no room for second guessing in SM trading. The markets will need to show its hand first (which inevitably will be soon), so all eyes on the Yen. My preference is a breakdown in price for a short entry. There are a couple of support levels below which should be taken into account in your own analysis.

Great trading!
Sonia Molina

GBPCHF update

Afternoon Dynamic Traders

Just checking in on the GBPCHF today. I mentioned this pair last week and soon after I was triggered into a short. NFP on Friday may well have made a few traders a little nervous with the big spike in the day. This was caused by a frenzy of buying and selling at the time of the news release - a great way for the markets to sweep out short and long traders!














My stop remained above the VI so my trade was in a safe zone. Discipline is definitely what's needed in times like this..some may have been tempted to tighten their stops or close their positions but I stuck to my original plan with this trade.

Price is now gaining momentum in it's down move and on it's way to T1. Price is below the major RN and VI, suggesting price bearishness. MACD now being below the midline also supports this. Depending on your trading appetite there is an opportunity to enter if price gives a bob of the recent pivot. Remember, it's not the best looking chart! But with the current ranging personality and all the confluences mentioned, there could be some profits for the taking! But please do carry out your own analysis before placing any trades.

Each day, no matter how small it may seem, find a way to improve your trading in some way. Read a chapter from a trading book (there are some great suggestions here on the site), backtest, analyse some new currencies.. just keep up the momentum of learning and progressing! Trading isn't supposed to be fun, but you can definitely make it interesting!

Successful trading!
Sonia Molina

GBPAUD channelling

Morning Dynamic Traders

I hope you've all had an outstanding weekend and are ready for an even better week ahead!

Below is the daily GBPAUD. You can clearly see a channelling pattern price has formed, bouncing between a strong resistance and support line. As the trend is down, the odds favour a continuation south.

1. One confluence for a short is the tag of the R - well almost. There's always the chance that price will bounce up to test it properly.

2. But with the additional confluence being the recent tramtracks we have a good indication that price may weaken.

3. In addition to this we have the MACD divergence.

So we now have a nice collection of confluences for a short. ESLT could be used on the previous bar to the high for an aggressive entry. Of course the daily chart is in this current range and a more conservative entry would be a bob of the low.














Going to a lower TF could provide a better set up, so I'm also keeping an eye on the 4hr timeframe for entry. Price has recently broken the TL, but now I'm awaiting for a BOB of the VI before any action is taken. There is a S/R level close below so this should be taken into account for a safer trade.














My GBPCHF and USDCHF trades are in positive territory as of this morning. I'll keep you updated as the week progresses.

Great trading!
Sonia Molina

Become a bad trader

Good morning traders.

As our Dynamic Trader webinar attendees and mentoring students will know, it is easier to be a bad trader than it is to be a good one. Below I have listed some points that prove this.

1. A poorly set up portfolio
   
2. Use lots of leverage and no risk management
3. Join a trading club with friends and/or neighbours to make a decisions on a trade
4. Watch TV or read papers/magazines for trading tips
5. No proven strategy
6. No discipline
7. Lots of emotions before and during trades
8. Follow the herd mentality
   
9. After a winning streak arrogance and invincibility creeps in
10. No education

Above are just some principles bad traders beleive in without even realising it. To be good at anything takes time, dedication, hard work and of course enjoying what you do is an excellent leverage. Trading is no different and discipline to follow the rules is a big criteria for trading success.

The above 10 points is by no means an exhaustive list but just a guideline taken from my personal trading experience back when I began trading nearly 9 years ago. It is better to learn from someone elses mistakes than make the same mistakes on your own!

January was a good trading month and the last few days have been very good. Hope some of you managed to take the profits from the trades we mentioned on the emails and webinars.

Look forward to seeing the members on the Private Webinar.


Javid Shaik
Dynamic Trader

EURCAD & Cable breakdowns

Good Evening Dynamic Traders,

Hope you are enjoying your weekend - what's left of it!

Last couple of trading days have seen some massive moves in the markets. The Euro has done a beautiful one to one/flag formation (as mentioned last Sunday) and provided nice profits. What next? Current trend is down and there appears to be weakness so any trades contemplated with this pair should be only in a downward direction unless of course you are trading very short term.

The GBPUSD is looking interesting. It may have completed consolidating and is showing possible signs of a breakout, having closed below support as visible on the chart. Aggressive entries may have already triggered traders in or the conservative traders may wait for a retest after the breakout before entering just to make sure its not just a FO.













The EURCAD is another chart which is showing further breakdown through strong support. This pair has produced some nice profits already and is one where one might look to enter short or compound the position for further gain.














Good Trading!
Bijal Shah

Gold price drops

Morning Dynamic Traders

NFP is due out today and yesterday saw some irratic behaviour on the markets. Gold being one of them.

The Gold trade I was triggered in a few days ago has now been stopped out, as price plummeted. Since the US markets opened yesterday, price took a drastic decline (check 60 min chart). Fundamentals may have played its part, plus speculators are suggesting that the continued strength in the US Dollar has put pressue on Gold.














Now looking at technicals, what we have is price possibly trying to test the VI. This will be an interesting point for price - will it breakdown and continue to weaken, or will it use the VI as a trampoline to bounce up? Whatever the case, patience is key right now.

This trade was a good example of the markets just doing whatever it likes - fundamentals can always play it's part despite technical confluences being strong enough. At the time of placing my trade I was confident and conflict-free and knew exactly what my loss would be if the trade turned against me. So my learning on this trade is simply a reminder that trading is all about probabilities and losses are simply the cost of trading.

Now I will simply wait and watch to see what price will do next. I been triggered in the CHF and will update on this next week.

Have a great weekend.
Sonia Molina

Swissy

Afternoon Dynamic Traders

The Swissy was also on my watchlist, as mentioned in Bijal's blog. Since breaking the VI price has been staying close to it and yesterday's candle also tagged previous R as S, giving the SM trader an additional confluence to place a long trade. ST has formed another false bar on top so odds are stacking up nicely. ESLT on the recent high should provide an additional protective layer should there be any market remorse.














There is adequate breathing space for price as the next R cluster is at 1,1000, providing a healthy 400 pip opportunity. Stops shouldn't be too tight, as price has just broken above the VI so there's always the possibility of a bull-bear struggle at least until the bulls are running!

As always please carry out your own analysis. Remember, it's NFP tomorrow so markets may make some unusual moves.

Great trading!
Sonia Molina

Gold & GBPCHF triggered

Morning Dynamic Traders

Gold made a 24 point move up yesterday, producing a bullish bar at a support/fib reversal area. Stacking this up with the confluences mentioned in yesterdays blog, as well as ST now curling up, gave me more than enough confluences to enter aggressively on this trade. I have now been triggered using a pullback strategy and already in profits.

















Another trade I have been triggered into is GBPCHF. You can see we have a triple top possibility. VI is acting as R and the recent extreme candle is a doji which was also a head fake - since then price has been weakening. The recent market 'pre-shake' may have stopped out some traders if they had tight stops. Again I'm using an aggressive stance on this trade, as there are many confluences to support a continuation down. Of course the downside to this chart is that price is currently in a range, so I have to be prepared to be in this trade for some time if price decides to go sideways. My rationale is, so long as this trade can make a potential 1:1 RR.

















Of course with all trades there's the possibility it could go against you, as the market could do anything. This is why you must always have a pre-determined stop loss and an amount of capital you are prepared to lose.

Always carry out your own analysis and trade according to your own rules and trading personality.

Great trading!
Sonia Molina

GOLD - double bottom?

Good Afternoon Dynamic Traders

A new trading month, a new trading week and a new day of trading opportunities. For me January was a quiet month on the markets and I was stopped out of a few trades, so I'm starting February with a nice, clean trading slate.

Below is the Daily Gold chart. I was in this trade from early January for a continuation with the uptrend, but was stopped out in the recent pullback. Price is now at a support level (which was previous resistance) and we could have a double bottom formation. Of course it's too early to say, but we do have support clustered with a fib level, MACD convergence and not far below VI and TL acting as another layer of support. Higher TF's also suggest the trend continuing. On this daily chart, price is at an interesting point and the market inevitably needs to decide its path.

















I'm still favouring a trend continuation, so should the double bottom play out there could be a long opportunity to be taken. A suitable pullback strategy could be a good tool here. But should price continue weakening we could see Gold start to reverse. One to watch...

Here's to great trading!
Sonia Molina