DKK - was it a FBO?

Morning Dynamic Traders

I hope your new trading week has kicked off to a good start. The markets are a little up and down at the moment, so discipline is absolutely key. Don't start to second guess what might happen, or could happen. Just let the markets do its thing, wait and watch and then act.

Last week I mentioned DKK as it had broken a consolidation period and was suggesting strength in price. Infact, it looks like price has done a FBO. Price has found resistance at 5.60 and handed out a bearish engulfing candle. That coupled with MACD divergence and we may see price either reverse or consolidate again. Having said that, nothing's really changed for the swing trader. The trend is still up, confirmed by the ST indicator and price is currently still above the significant 5.50 level. If it finds support here this may help push price back up. For a long opportunity I'll be looking out for a bob/mobo entry of the new high.














This potential trade was a great example of the benefit of using ESLT. Applying ESLT on the BOB as suggested, should have protected you from being triggered at all and taking a loss.

Remember, NFP is due out this Friday, so we may see the markets consolidate in the lead up to the news.

Abundant trading!
Sonia Molina

DKK strengthens, USDNOK weakens

Good Evening Dynamic Traders

The DKK did indeed hand out a BOB yesterday, suggesting a possible continuation to the upside. Employing ESLT would be a good entry method here.

Whilst DKK is showing strength, USDNOK is showing signs of weakness. Below is the daily chart.













Price was in a healthy uptrend previously, but since mid-Oct '09 it's been pretty much going sideways. The VI has clearly been providing a strong support area for price, but over the last week or so price has gathered bearish momentum, broken the VI and is now attempting to break the S/R zone. ST is also showing false bars at the bottom. This could be a little premature or aggressive for a reversal trade, but by gathering your confluences this could be a good opportunity to ride the potential USDNOK weakness. Check in on HTF's to get even more insight on price action.

I'll leave that one with you to make a judgement call and carry out your own analysis.

Have a great evening and great trading!
Sonia Molina

DKK continuation?

Morning Dynamic Traders

Below is the Dranish Krona daily chart. Much like the EUR and CHF it has been in a period of congestion, hanging around the significant RN with the green and reds fighting it out.

As of this morning, price is making a bullish move and contemplating a BOB of the high. We're still very early in the trading day, so anything can happen until markets close. There are various confluences to support a continuation with the current uptrend. Most importantly focus on the price action - trend, VI, chart patterns and then look closer at your favourite indicators. The ST below is giving us a false bar on top.














This pair may not be a favourite for some traders due to the pip value and fast moving/volatile nature. But for those that trade this currency, there is a possible opportunity on the horizon. Despite the recent, slightly extended consolidation, this chart is showing a nice recent uptrend and by end of trading day an ESLT trade could be taken if there is a BOB of the high. Of course price could do a FBO and fall back into consolidation - so patience is needed.

The EUR this morning seems to be gaining momentum in its weakness and my EURAUD and EURCAD trades are gathering further profits. I hope you've all managed to gain profits from the markets too.

Wishing you a great trading day!
Sonia Molina

AUDCAD - will bears or bulls win?

Morning Dynamic Traders

Another start of a new trading week! I hope you all had time over the weekend to analyse your trades, analyse the markets and make some informed and confident trade decisions.

Below is the AUDCAD daily chart. This pair offered very profitable trades throughout 2009 for the trend traders. You can see price hit a strong R level in Nov 2009, did a FBO and then plummeted some 700 pips to end the year. Price has really just been consolidating ever since, which is why it's hasn't featured on the watchlist for some time.














We now have this triangle/squeeze formation.

Remember - the overall trend is still up, so the preference is for a long opportunity. But, a reversal is also a real possibility. The bears and bulls are fighting it out - and this is confirmed with the array of indecision candles of late and price also hugging the VI. So there's definitely market indecision.

So what next? Well, this is where the patience is needed. Price inevitably has to make a move - either UP, DOWN or an uneventful SIDEWAYS action. I don't have any expectation as to what price will do, and to be honest I'm indifferent. I'm just waiting patiently for price to make its move and then will use the appropriate strategy from my bag of trading tools.

Abundant Trading!
Sonia Molina

EURJPY DT?

Morning Dynamic Traders

I hope you're all enjoying good profits from your trades this week. Sorry for the lack of updates, it's been a busy week!

Below is the EURJPY chart which I've been keeping an eye on. It's not the best of charts as price has been in a long range. However, as SM traders know, the longer the consolidation, potentially the bigger the next move! Recently price has weakened, broken support and is now showing confluences for a shorting opportunity. The VI is starting to curl down and we have a possible DT formation at a fib breather. There are also other confluences which you can uncover through your own analysis.

The aggressive entry is a BOB of the minor TL - using ESLT or a pullback strategy. The safer, more conservative entry is a BOB of the support/RN cluster. I'm choosing the conservative approach.














This chart may not be everyone's cup of tea - so please ensure you carry out your own analysis and make a personal judgement on a trade.

Welcome back Zaheer and Richard - looking forward to hearing all about your UPW experiences!

Have a great trading day Dynamic Traders!
Sonia Molina

AUD tumble

Good Evening Dynamic Traders,

Hope you all had a great weekend. Apologies for the lack of blogs recently, I have been extremely busy at work and have been unable to upload any posts. In addition, I will not be able to blog regularly for the next few weeks due to some upcoming events.

The AUD is the talk of tonight's post. Price has tested the VI and trendline support and bounced up. It has now approached a RN, coupled with Fib reversal areas. In addition we have MACD divergence and reversal candles. This all indicates a pullback of some form. I am not suggesting trading against the trend to go short, however, if price does break through there may be an opportunity to enter long.














Good Trading!
Bijal Shah

Cable price action

Good Evening Dynamic Traders

I hope your week has started off positively! Let's hope this lovely weather is here to stay.

Today's update is on the GBP price action - and the emphasis is on price action as opposed to fundamentals. GBP is under a lot of scrutiny at the moment and people are trying to predict what will happen next. No need for a crystal ball, let's study the chart for technicals.

















GBP broke it's consolidation phase in early Feb and has been weakening ever since. We can see where price is having a hard time breaking through - the psychological RN surely has something to do with it. So will price break this level and continue down or will GBP reverse? No one knows so we'll have to wait for the market to show us direction. The recent bounce could very well be a breather. Price has nicely tagged a fib breather level and so far today, price is providing an additional confluence with a TT formation. So odds are stacking up for a continuation down, but a clear BOB of the RN/low is what's needed for a safe entry.

Abundant trading!
Sonia Molina

Aston Martin DBS

Morning Dynamic Traders,

We have had a good bounce into profit this morning across our trades so let's hope this continues.

Further to the last members webinar, we can see the structure of the markets and what needs to be done to capture the profits. We have sent out an email regarding the latest set up.

We have cancelled our entry order set up from last week as mentioned in the email and covered on the webinar. This is because the newest trade set up looks more preferable in our opinion.

As per the request from some of the car enthusiast members, below is a picture of our DBS. Although due to it's weight is can't be thrown around like a Porsche, it is certainly a fun and enjoyable car to drive and the sound is awesome.

Good trading.

Javid Shaik
Dynamic Trader

AUDNZD continuation?

Good Morning Dynamic Traders

As you know I've been patiently watching the AUDNZD Daily for a trend trading opportunity. Price is in an uptrend and has recently broken the Weekly R level/RN. I suspect the bearish activity/breather this week is due to DM traders selling off positions. However, yesterday's candle suggests buyers may be back in control and should there be a BOB of the recent high, this would be a good entry point for a continuation trade either using ESLT or MOBO.

















After writing my blog yesterday, the GBPNZD actually ended the trading day as a doji. Buyers stepped in late evening and pulled price right back up. This was probably due to the high impact news related to NZD. Aside the news, this is quite a classic market reaction to a strong support area. Nothing's changed though - price action and indicators still favour a move down. A clear BOB of the low is what I'm waiting for now.

















If you get the chance to read 'How I Made $2,000,000 in the stock market' it's a really good, quick read. Although originally written in 1960, the principles and learnings are still very valid today. One of Darvas' early leanings was not to concern yourself with fundamentals - news, speculators and rumours have no place in SM trading. Price action is all you need!

Abundant trading!
Sonia Molina

Mid week update

Good Evening Dynamic Traders

The GBPCHF chart mentioned on Monday has had a bearish few days - it's yet to give us the all important BOB though. Aggressive traders may have jumped on the candlestick confluence from Monday, but I'm still waiting patiently on this one.

My AUDCHF mobo trade was triggered last week, but went into negative territory immediately. This week it's gaining strength to the upside and making it's way towards my T1. A major RN is looming above, so if in this trade manage your stop accordingly.

Below is the GBPNZD daily chart. It may not be everyone's favourite currency as it's fast moving and a fairly volatile currency. As you can see it's presenting an opportunity to short.

















After a big move down in 2009, price has since been in a 5 month consolidation. So far today price is presenting a possible BOB. There are various confluences to suggest price could weaken. It maybe a little premature to enter based on this BOB as FBO's are likely after a long range, but it all depends on your own trading style. Some may play it safe and wait for a breather and then another BOB. In any case ESLT is an essential tool to use here.

As always please carry out your own analysis.

Great trading!
Sonia Molina

Further Gains

Morning Dynamic Traders,

Further to our recent members only webinars, we have managed to accumulate more profits on the trades we discussed. We had a good end to yesterdays trading and a very good start to todays trading.

Most of the Dynamic Trader members will have gained 1000's of pips from the begining of 2010 based on our strategies and are now looking for more opportunities. Remember, patience is key to trading. It is easy to feel invicible when so many trades have done so well but part of the reason they had done well in the first place is we used patience in addition to our good set ups for entry.

The Euro Dollar is in a range and not doing anything at all which is making it very boring at the momnent. However, the Pound Dollar is on the move today so this is a better bet for trading.

Further to the update regarding the GBPCHF, Sonia is absolutley right not to second guess what could happen so we will go through the facts and analyse this cross on the next members webinar.

We are off to Europe to the open roads so we can hear the rumble of our Aston Martin DBS. It is a very beautiful looking and sounding car but unfortunately the sound is muted due to speed limitations.

GBPCHF - FBO or just a breather?

Morning Dynamic Traders

What a lovely sunny weekend we had here in London! I hope you all had an enjoyable one wherever you are. Last week was pretty volatile what with all the high impact news. This week we should see currencies finding their feet again.

The AUDNZD I mentioned last week has indeed given a BOB on the weekly chart. Caution should be taken as price is still at a RN and the Daily chart is now having a breather - which is no surprise after a healthy run up. Should the right confluences present themselves a continuation with the uptrend may be on the cards. Patience..

GBPCHF Daily Chart: It's clear to see the consolidation this pair has been in for the past 5 months or so. Monday saw a big bearish move, piercing the support area but then hesitating and bouncing back up. So what next?

















This may have been a FBO, in which case price could continue upwards and resume it's ranging personality. Or price may simply be catching its breathe before it's next move down. Analyse the chart and see what confluences you can uncover for yourself. We're in no position to second guess the markets and as SM Traders we know very well that patience and market confirmation is what's needed for an entry here. So let's keep a watchful eye on this pair.

As always please carry out your own analysis and be confident with your trades.

Abundant Trading!
Sonia Molina

Dynamic Traders check your emails

Evening traders,

Overall the Dynamic Trader members will have had another very good trading week. Not as good as last week or the week before but still good.

Remember, tomorrow we have further news out so please ensure you follow the points in this mornings email.

The next trade set up has just been sent out to members.

Enjoy NFP tomorrow.


Javid Shaik

AUDNZD Weekly

Good Afternoon Dynamic Traders

I trust you're having a good trading week so far. This week is filled with high impact news, including NFP, so my agenda is to manage my existing positions and nothing more. My preference is to wait for the dust to settle after NFP on Friday, stay out of the NFP frenzy and then analyse charts with a fresh pair of eyes.














I want to bring your attention to the AUDNZD Weekly chart. This timeframe clearly highlights the big picture with this pair - there's a major resistance at 1.3000 level and price is being supported by a upward TL. As you can see, buyers have control so far this week - although this could easily change, especially with the volatility of NFP. Come end of trading week, we may have a clear BOB to reckon with. There are also additional confluences with some candlestick formations at the TL support. Should there be a price BOB we may see a continuation with the minor uptrend.

I'm intending to trade the Daily chart should this happen, but with price at such a critical level I'm playing safe by waiting patiently for bullish confirmation on the weekly timeframe.

Great trading!
Sonia Molina

Patient trading pays off

Good Day Dynamic Traders,

Having seen the communications from our mentor and other bloggers it appears that many of you have been doing tremendously well recently on your trades. This is fantastic news and makes it all the more worthwhile to do the blog posts.

As Javid always says that trading should be boring, it should not be exciting which is how you can keep your emotions under control. Someone asked me the other day if I was to describe my trading journey, what would I say? I think for me having been doing it for just over three years now, it is all about the simplicity. Keep it simple and it works, if you complicate it you end up losing the plot and getting very frustrated.

I have some updates below on the charts I have been talking about and also a new potential.

The EURNZD has been finding support as can be seen below and has tested the same area three times recently. This is one to be patient with, let the price tell you what you need to do and when. Its like intuition, if you listen out, you will surely get direction. No point second guessing.















I have posted the weekly chart for the CADCHF again because its a lot easier to demonstrate. Price is showing bullish signs and is now tackling the VI in addition to being at a crucial Fib reversal area. If the buyers win then we will see a clear breakout at which point some may enter. The rest may decide to enter at the break of the previous resistance.














GBPCHF has been in somewhat of a consolidation mode albeit with large moves within the channel. Price is now showing bearish signs and has broken through previous support. The decision to make is will it hold and if so where do you enter. Use your choice of entry techniques to help determine.














Good Trading!
Bijal Shah

CHF update

Good Morning Dynamic Traders

.. and what a beautiful morning it is. Spring has hopefully sprung! I love this time of year.. the daffodils are starting to come through and the harshness of winter starts to fade away.

Now on to a new month of trading. There were some questions last night on the Trading Room webinar about my 'Swissy' blog dated 4 Feb. So I thought I'd do an update on this today.

I was triggered into this trade 5 Feb based on the current minor uptrend and VI bob - showing bullishness. As mentioned at the time, 1.1000 was certainly a resistance level to be aware of but as part of my trading rules, there were still enough pips for a good risk-reward. I am now risk free on this trade after locking in 208 pips profit.

Although price isn't doing very much at the moment, it is making higher highs. We have a triangle formation so price will inevitably either break up, down or continue sideways. MACD is showing divergence, so we might see a pullback in price before any continued strength.

The VI is starting to curl up suggesting this could very well be a new uptrend as opposed to a FBO. However, buyers and sellers are fighting it out the moment, so if you're not in this trade wait patiently for the market to make it's next definitive move. If you are in this trade, manage it appropriately and don't start second guessing the markets. As Javid says, indicators are there just as a tip. Always remember - Plan your trade and trade your plan!

















Please carry out your own analysis and stick to your own trading rules and plan.

Abundant trading!
Sonia Molina

Euro Dilly Dally

Morning dynamic traders,

I would like to congratulate the trading room members. From our last members only webinar, it seems more than originally thought have pocketed profits. In fact, all our forex trades have managed wins except the Euro.

Since we entered the Euro it has dipped in and out of profit and this indecision is based on the bulls and bears unsure of which direction to take. We beleive the Euro Dollar has more weakness ahead but we could see consolidation or a pullback before that happens.

Overnight we have more profits added to our trading accounts from some of the trades (not the Euro) we discussed on the last webinar and previous webinars. In fact, from the beginning of the year our forex trades have accumulated very good profits. As previously mentioned, it is easy to get a feeling of invicibility when so many trades do so well but it is very important to follow our rules at all times but especially when so many trades are in so much profit.

John Maher has indicted some of his trades. You can view some of his current forex positions here.

Good trading for the week ahead dynamic traders.

Javid Shaik
Dynamic Trader