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

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

AUDCHF found resistance

Good Morning Dynamic Traders

I hope you're all enjoying your trading week. I've taken a bit of a back seat with trading this week due to the run up to Christmas. Not to say I haven't been keeping a watchful eye on certain pairs.

NZDCAD mentioned last week has attempted another retest of the H&S neckline. For the H&S to take shape it has to contend with the all powerful VI looming below - so anything could happen. However, for a potential reversal tradeI'm looking for a BOB of the VI.

EURNZD found resistance at the cluster above and retraced - we're back at the TL again. A BOB of the previous low and we may see a continuation with the downtrend.

Checking in on AUDCHF we can see price found it difficult to break the former resistance/9500 mark. So with the recent indecision candle, overbought ST and a bearish few days, we could have a DT situation on our hands. The trend is still up so my preference is a trade with the trend - but with the right strategy there could be some short term reversal profits to be taken - at the moment we're still in the range zone for the DD reversal strategy. For a longer term reversal trade, I'm looking for a BOB of the VI/Figure cluster.
















Successful trading!
Sonia Molina

AUDCHF

Afternoon Dynamic Traders

Just a quick update on the AUDCHF. As you can see from the chart below, yesterday's price hit the resistance level, sellers then got involved in the action and pulled price down. But then buyers fought back closing yesterday's candle with a long wick. Although the candle is a signal for indecision, buyers did in fact pull the price back up - strengthening the odds for a continuation with the uptrend. MACD is also showing good momentum. Of course we still need that all important confirmation - yes confluences suggest the trend may continue, but will buyers break the R level and continue the rally?
















Great trading!
Sonia Molina

AUDCHF

Good Afternoon Dynamic Traders

I hope you've all had a great weekend and are getting into the festive mood! I love this time of year - there's such a special energy in the air. A time for giving, reflecting and appreciating.

I have posted the AUDCHF chart today. Price is in a healthy uptrend and is now at a R level. The odds are in our favour for a long opportunity - ST's also positively confirms the uptrend. So my stance on this is to to trade with the trend either using MOBO or ESLT on a BOB of the high/R level. This may happen soon or price may continue to squeeze. Simply await confirmation from price and then choose the right strategy according to your TP and your trading style.














Great trading!
Sonia Molina