Monday update & CADJPY revisited

Good Afternoon Dynamic Traders

I hope you all enjoyed the glorious weather this weekend! ... and still made time for your weekly trading preparation.

USDSGD mentioned last week has been triggered for a short based on MOBO. Inevitably there was some profit taking after the big bearish candle but it's now continuing to weaken.

My EUR related trades are continuing to weaken today locking in further profits.

I wrote about CADJPY on 1 April - it's been on my watchlist to revist once there was a pullback and signals for a continuation. But the question for me yesterday was 'Is this a high probability trade?' The answer is no, despite the recent bullish flag and reversal candle.














1. Trend: I knew the trend wasn't the strongest - you can see its zig zaggy nature and although it's gained some momentum recently, it's not a strong uptrend.

2. S/R zone: Above price is as an S/R zone and my T1 would be in the midst of this, so not a good set up.

3. RN: There's a major RN soon after the S/R zone.

A lesson for me on this chart and analysis is that a few weeks ago, I saw what I wanted to see without carefully considering the possible physical and psychological resistance areas. I'm glad I was patient as I now have a different feeling about the trade. Much like the AUDJPY chart mentioned last week, the weekly is also fast approaching a R cluster.

My trading personality is pretty conservative, so the more aggressive traders out there may have a different view. Goes without saying, but do carry out your analysis and make your own judgement.

So as the dragons would say, "I'm out". There are better trades out there.

Abundant trading!
Sonia Molina

Follow Zaheer and Richard on fxcps.eu
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Update: CADJPY & AUDNZD

Evening Dynamic Traders

I won't get the chance to do an update tomorrow as the bloggers are getting together for the day. I just wanted to make a quick note on two pairs that I've mentioned lately.

CADJPY mentioned last week, seems to be starting it's pullback. This is still on the watchlist - so long as we still have the right confluences and we have a breach of the high there's a possible trade to be taken. Let's to be patient and see what the market hands out next week.

AUDNZD infact ended up being a long range/wicky candle by close of trading on Tuesday - although price did manage to produce a BOB - just! This candle suggests possible market indecision and what could end up being a FBO. That's the nature of trading! However, confluences still favour a long on this pair. I'd like to see price stay above 1.300 for a trend continuation. If it breaks below this level, it will be time to reassess.

Apologies for no charts - I can't access my eSignal this evening.

Have a great Friday and an even better weekend.

Abundant Trading!
Sonia Molina

CADJPY on watchlist

Morning Dynamic Traders

This trading week has seen pullbacks across some currencies - some of which are inevitable breathers in a trend and others probably due to NFP due out tomorrow. It's important to keep your wits about you at these times - stick to your rules and trade your plan!

I'm not planning to open any new trades between now and Tuesday - with NFP and the long weekend ahead I'd rather stay out. But the CADJPY has come to my attention and I wanted to share this chart with you.














Admittedly, this isn't the best looking chart as price has been in consolidation. But long consolidations can often mean a big breakout/trend will follow. Could we be seeing the beginnings of a new trend? Price has recently broken the pivot high - some agressive traders may have jumped on this already. For me it's too early, especially given the current personality of the chart and a chance of a FBO. Plus, we have MACD divergence, suggesting a possible pullback.

Having said that, should price pullback to a fib breather level/give us a chart pattern and then give us a BOB of the high, this will be worth revisting. Until then I will wait patiently and put this one of the watchlist. Like I said, it may not be your kind of chart, so please carry out your own analysis and make your own judgement.

The long weekend is almost here - a great time to kick back, eat some chocolate eggs and review the first quarter of 2010. Time flies when you're having fun! It's been a year since I went to UPW in New York and I'm keen to go back over my notes and goals and celebrate all my achievements - one of which was becoming a blogger!

Enjoy the weekend. My next update will now be on Tuesday.

Abundant trading!
Sonia Molina

A Worthy Review

Good Afternoon Dynamic Traders!

Scrutinising the trading journal is an essential part of a consistent traders routine.

I shall commence with the CADJPY (x refer blog10 May)

Price is indisputably proving its up hill stride since the start of the year.

Following the triumph of the value index, the 'U' turn, confirming traders' dread, reared its predictive head, cascading perfectly to its breathing point, before resuming the trend to mark the expected figure.

Below is the weekly chart for this cross.

The supply of resistances on show may permit some remaining strength, although the long term trend line may be promising continued weakness in the making.

Your personal trading style will permit an entry on a chosen course, even savouring a barter, both long and short (at the appropriate times), more so for savvy Dynamic traders who act promptly and with complete confidence in the nature of market movement.


CADJPY weekly chart Advanced Get

EUR USD (x refer blog 18 May)

Breaking technical insight, this pair proved its potency by striding forth to the tune of 600 pips.

A healthy slice of these will have been handed to the trader who employed a break out barter!

This undeniable trend strength may now be instrumentally measured with discerning traders, (eager to jump in) awaiting an opportune 'dip' purchase.

USD CAD (x refer blog 14 May)

This trendy pair is playing beautifully into the hands of the Dynamic Trader!

Following the previous note, price found its favoured breather break and has plummeted profusely!

Those 'swinging' along with this rally sale, will now be 850 pips in profit!

The daily chart below signals a sturdy support in close proximity after the breach of the long term brace.

Market behaviour may predict a retracement close by, perhaps even scrambling back to the trend for safety.

Utilise your toolkit gadgets to determine the likely ensuing movement, remembering the nature of the friendly trend.

Alternatively, pluck a favoured strategy from your basket and go with the flow.


USDCAD daily chart Advanced Get


GBP JPY (x refer blog 20 May)

This is a perfect example of patience promoting very desirable pickings!

Following the last note, price entered the resistance belt confirming the true trend, and perfectly pierced our chosen target with a spin top display by close of business.

Those who employed a break out play, will have reaped a healthy 250 pip profit.

The short term trend is clearly northward, but mark the fortified resistance in the value index, which may force price vulnerability in the near future.

A watch list entry with both eyes peeled for a certain profit warning!

Dynamic Traders..... by dissolving a "big trade" mentality and breeding "slow and steady" play, plucking tiny pips here and there, will not only result in a steadily rising equity curve, but will breathe confidence and trust into your minds; one of the few essential ingredients towards...

Successful Trading.

Saba Jackson

A Nimble Review and a Timely Cross

Good Evening Dynamic Traders!

Following the fever of last weeks movement, the coming one also promises prime pickings with the array of strategies screaming for attention.

Below is the daily chart for the CADJPY cross.

Price has been escalating uniformly since January this year succeeding a lengthy period of weakness.

Note the established break of the value index, followed by a close above the horizontal last Friday.

The on-chart display confirms prevailing strength, fortified by the seductive resistances on the horizon.

Further analysis does confirm this courage, although a simpler stance is staring Dynamic Traders in the eye, the keenest of whom will be sure to succumb!

With the probabilities in your favour and a stringent risk management regime in place, surrender your trade to the market and allow the collective consciousness to choose its' direction.


CADJPY daily chart Advanced Get

Blog Review

NZDUSD (x refer blog 6 May)

Abiding by the analysis, price surged through the value index, piercing the zero, before close of play restricted further force.

Those who favoured this pair may have pocketed up to 200 pips. A pleasing end to the week!

The Kiwi is approaching a horizontal, which may offer some resistance before a likely bullish stance is resumed.

EURUSD (x refer blog 5 May)

Negating Fridays huge movement supported by NFP news, this pair proffered a decent 100 pips for those who took this barter!

Dynamic Traders who may have left runners open and brave enough to play out the NFP day , will have profited by a further 180 pips!

An excellent end to the week!

The Euro may yet have some steam to show off, but bear in mind the nature of market movement after a scrambling rally as witnessed on Friday.

Blazing Trading!

Saba Jackson

The 'Opportunity Flow'

Good Afternoon Dynamic Traders!

I have prepared an extended review, with forced focus on the recent events of the CADJPY; the subject of the note on 5 March.

Cross referencing is highly recommended.

CADJPY (x ref BLOG 5 March)

Although the definitive trend is downward, the four hour chart displayed an uphill ascent since mid January.

Early signs indicated a probability of price scaling towards two key fib zones before facing a stronghold.

Indeed, there remains a valiant sign of strength should this resistance be convincingly breached.

Below is the 60 minute chart for the same.

Having posted the blog, a look at this lesser time frame, nearing a key reversal time, would have presented you with a clearer picture for a wonderful intraday opening!

A close study of the snap shot below details the abundance of clues, which resulted in price cascading a staggering 275 pips within twenty four hours!

The four hour chart is now promoting a glorious DB especially fitting in the noticeable uptrend.

Perhaps the apprentice Dynamic Trader may wish to (un)cover the significance of this set up for ensuing movement?

Seasoned Dynamic Traders will always view the market objectively, thereby enabling 'conscious' access to their knowledge of market movement.

With this mind set, market openings present themselves with greater clarity without the need for any certainty of market direction.

Keeping the mind open to an exchange of energy allows the market to tell YOU what will happen next.

A converse approach will often result in trading misfortune.

CADJPY 60 minute chart Advanced Get

Dow Jones (x refer BLOG 2 March)

Following last week's note, price plummeted an enormous 600 pips to the fib and mob support zone, where it is presently perched.

Compliments to those who braved this barter and poached this prime profit.

You have a handy head start to the month.

A period of consolidation is likely after this frenzied fall.

USD CHF (x refer BLOG 26 February)

Price was determined to rally into the squeeze until it finally forgave over 230 pips, which the aggressive trader may have pinched!

Below is the daily chart for the same

Entertaining swing scopes are now available including our mentor's DD approach, to which I have allocated this pair.

USDCHF daily chart Advanced Get

Perceive the market objectively; unaffected by what will happen next.

Make yourself "available" to market behaviour as it unfolds: the 'now' moment.

Pre-define and contentedly accept the risk.

Finally.........let it go!

Now watch the 'Opportunity Flow'!

Saba Jackson

Trusting The Edge

Good Morning Dynamic Traders!

A highly probable barter has been the subject of my gaze last evening!

The CADJPY cross has been steadily climbing since February following an earthward retreat for over a year.

Having marked its lowest point for almost nine years, the current elevation is demonstrating convincing strength.

This muscle is demonstrated beautifully by the four hour chart below.

Price is marching up to retest a robust resistance at the figure after producing a picturesque bullish flag formation earlier this week.

Trading advances, however, are rarely unchallenged with two fabulous fib forces, in close proximity, preparing to fight back.

Should we see price triumph at these three hurdles,a highly probable pip pocketing opportunity is around the corner.

Dynamic Traders who have soaked in their studies, will recognise their two legged friend hinting at a likely exodus.

Ensure diligent use of ESLT not forgetting that even the best "edge" has a random outcome.

Recall the residue of tidings due this week!

CADJPY four hour chart Advanced Get

Credible Trading!

Saba Jackson

Milking the Yen

Good Afternoon Dynamic Traders!

The CADJPY has been delighting in a downtrend since November 2007.

We witnessed price strike a ten year low last week followed by the expected trepidation.

The larger time frames ostentatiously flaunt a change of direction on the horizon with the monthly chart boasting a daunting spinning top.

Below is the daily chart for this cross.

Price is now sealed at a prominent breather area debating its preferred direction.

Should this resistance level persist, we may observe traders' trialling the low a second time around; a behaviour that all Dynamic Traders should be accustomed to.


cadjpy daily chart Advanced Get

The 4 hour chart (below) exhibits a trend line at which price is comfortably perched. If this is persuasively broken, the course may be confirmed.

Note mac d behaviour - smiling in appreciation.

Use you filter and BOB techniques to determine an acceptable entry for a probable flow towards the low, not forgetting the weekend is nigh.

Your personal trading rules will prove your loyalty to a suitable position.


cadjpy 4 hour chart Advanced Get

My next post will be on Saturday, reviewing recent play.

Sound Trading!

Saba Jackson

Mind Over Matter

Good Evening Dynamic Traders!

A crucial, (but often overlooked) part of a Traders learning curve is the practice of reviewing analyses.

My personal progress would not have accelerated at such speed without this religious discipline; an art that I still persist with and indeed, share weekly with you.

The objective is certainly not to assess whether the analysis is "right" or "wrong", but rather to determine the presence of an instinctive "edge" given a set of variables.

Once the evaluation is complete, "now moment" traders calculate the risk and pull the trigger with no hesitation, and a carefree state of mind; ultimately trusting their judgment.

This evening I am reviewing last weeks analyses.

Benefits will only be gained if these are cross referenced with the associated historical blogs.

EUR GBP (BLOG 9 Jan)

Below is the daily chart. Price did indeed choose to deliberate for almost a week before resuming the mount to the tune of 400 pips.
Price is currently perched at a noteworthy fib region debating a probable run on the pound.


EURGBP daily chart Advanced Get

AUD USD (Blog 13 Jan)

Those of you who braved the displayed entry opportunity will have bagged a decent 251 pips and the "swingers" may still be holding on.

With the AA's beautifully aligned on the daily chart, the trend is paradoxically building up muscle to weaken further.
Careful entry analysis to be considered for those risking a ride.

CADJPY (Blog 14 Jan)

The "vigil" certainly paid off! The triple bottom bellowed loud and clearly yesterday, thundering down in a mighty swoop to the tune of 240 pips before traders' dread fought back producing a dragonfly doji.
A watch list entry for a convincing break either side of the support.

GBPJPY (Blog 16 Jan)

Below is the daily chart

The rapid retracement after pinching support responded by price collapsing an almighty 980 pips, bursting through the horizontal into baron land.

Dynamic traders will need to credit their sub-chart studies and on-screen compasses to determine a likely direction.


GBPJPY daily chart Advanced Get

An overwhelming level of confidence will be acquired if Dynamic traders comprehensively review time worthy analysis.
More often than not, your evaluation will surely have measured the trend with ease, leaving only the matter of the mind.

By making yourself available to the "opportunity flow" and subsequently seizing the trade, prime profits will be realised.

My next note will be on Monday.

Prepared Trading!

Saba Jackson

CADJPY - awaiting break

Good Evening Dynamic Traders,

The GBPAUD moved a further 600ish pips today (total move of approximately 1000 pips in 3 days!). The Cable has after much deliberation decisively broken through the strong support (although just between you and me I think the CPI and Governor King had something to do with it too). In short you will have noticed a lot of movement in price across the board today.

The Euro trade mentioned on last night's blog did not follow the 123B and instead continued south but that is how the markets are - uncertain and mysterious. All one can do is have good money and risk management in place so when the opportunity is available you can take it and when it goes against the identified edge, your risk is minimised.

I have chosen the CADJPY today as it appears to be on the verge of a crucial support. It has been in a period of consolidation for some time and may muster up strength to break through. Other considerations are the major RN and the descending triangle more apparent on the 4 hour chart.

Charts courtesy of Advanced Get


Question 6
Am I willing to accept the consequences of not changing?

Fun Trading!

Bijal Shah

The Yen Vigil

Good Evening Dynamic Traders!

Today's later posting gives you a perfect opportunity for some evening analysis.

The Yen has been substantially strengthening across the markets!

Below is the daily chart for the CADJPY.

Price demolished almost 900 pips since last Thursday's note (BLOG 8th Jan) and is now mulling over its next move at the dominating fib reversal point 123 886 clustered close by a significant zero figure.

We may see a period of deliberation prior to price action.

Being mindful of the general downward trend, wise traders will be keeping a watchful eye for a break of the firm support or a reverse gear manoeuvre.

Ironically, the direction will be determined by " traders' " themselves; the smarter of whom will be sure to apply the correct filters and ESLT before taking their positions.

Keep the cross on your watch list and wait............... patiently for the signal!

CADJPY daily chart Advanced Get

Composed Trading!

Saba Jackson

A Brain Teaser

Good Morning Dynamic Traders!

Today I have chosen to conduct a savoury analysis on the CAD JPY cross.

The monthly chart has modelled a long term mounting march since 1999.

The medium to short term flow has flaunted a collapse of this dominance, most visible in October last year.

Let's take a look at the weekly chart below.

The last two months has seen price deliberating a prominent fib ext level. Clearly, at some stage, a shift in one direction or the other is imminent.

The gravestone doji is ostentatiously presenting indecision, leaning towards a downward turn, but MacD behaviour supported unanimously by our dynamic studies, indicate escalating strength.


cadjpy weekly chart Advanced Get

Below is the daily chart for the same.

We have witnessed an undeniable decline since July last year.

Note the recent price retracement to a marked fib level. The hardy trend line resistance has driven it back down to an alternative breather point.

Subchart indicators and on-screen studies are also smiling in appreciation of continued weakness,

Dynamic Traders are well aware that although conflicting studies may present a puzzling picture, success in trading lies in the ability to make oneself available to any market offering.


cadjpy daily chart Advanced Get

Intellectual trading!

Saba Jackson

A Canadian Case Study

Good Morning Dynamic Traders!

Todays update is a worthy example for your text books, encompassing a host of possibilities!

The CAD JPY is a primary cross within my modest basket of currencies.

The monthly chart has witnessed a certain decline since November 2007.
The daily chart (below) displayed a price retracement to a much favoured breather level in early November followed by the current earthward march.

A multi-cluster of indicators, including our mentors' pride DD strategy, confirm a resolute chance of further weakness towards the 70 figure and beyond.

CADJPY daily chart Advanced Get

A closer study of the same presents a shorter term outlook.

Below is the 4 hour chart.

A fine 123 bottom has formed with our sub-chart indicator nodding wildly in agreement.

Savvy Dynamic traders may see scope for a short term reversal trade, after which entry can be sought for the longer term weakness ahead.

Rules must be adhered to with diligence before trigger temptation, especially with the myriad of news items due for release!


CADJPY 4 hour chart Advanced Get

I am off to catch a warm welcome break for the next ten days.

Dynamic Traders will be aware that the next fortnight may offer the last prime pickings for 2008.

Practised updates from Bijal and the sister site, together with Javid and Anne's stalwart expertise, may offer you increasing rewards for your Christmas stockings!

Merry Trading!

Saba Jackson

EURCHF reversal?

Good morning Dynamic Traders,

The CADJPY head and shoulders mentioned on the 25th November post went sideways for a period of time but did complete the equivalent move down and yesterday reached a low of 73.90. This pair is still of interest but we need to wait for it to gather momentum and break previously established S/R levels before decisive action can be taken.

The EURCHF daily chart displayed below, shows signs of a reversal after getting very close to the 1.56 figure. It is worth noting the trendline support, a break of which would be a good signal.














I have also included a 60 minute chart showing another trendline and MACD adding another confluence. ESLT would be well utilised here on the BOB.















Good trading!
Bijal Shah

Read Anne's forex blog here
Read FXCPS.co.uk forex blog here
Follow Javid on Twitter
Follow Anne on Twitter

"No computer in operation today works as fast as the retina in your eye. To simulate all the data your retina processes in one second would take the world's fastest supercomputer 100 years."
Richard Swenson MD

CADJPY head and shoulders

Good Morning Dynamic Traders,

The CADJPY has enjoyed a short rally for a couple of days. On the 240 timeframe price has tagged a trendline and retracted back. The current candles show indications of a breather before a continuation up or a pullback. Price is making higher lows and MACD is making lower highs.














I have also included the 15 minute chart, not usually my preferred style of trading but it shows an interesting chart pattern. What I see is a possible head and shoulders formation. Whatever kind of trader you are, it is worth waiting for a BOB before entering the trade.

The Cable made around 550 points to the upside today, well done to those of you who are persisting and being able to capture some pips.

I will leave you with a question to ponder on until tomorrow..
What would you attempt to do if you knew you would not fail?

Happy Trading

Bijal Shah

Read Anne's forex blog here
Read FXCPS.co.uk forex blog here
Follow Javid on Twitter
Follow Anne on Twitter

The Rule Of Reflection

Good Morning Dynamic Traders!

We are nearing the close of an historic week delivering much welcome news. Yesterday saw the base rate plunge to a new low and today we are expecting the much volatile NFP release.

Given it is also a Friday, my trading rules command a period of review and reflection; a crucial part of a Dynamic Traders practice.

Below is the 4 hour chart for the USDCAD.

This pair continued to retreat this week (BLOG 3 NOV) producing over 500 pips profit!

Given the general trend is upward with a price recovery in action, we may see sufficient momentum to continue the rally.

Diligent weekend analysis will determine a timely entry in the appropriate direction.


USDCAD 4 hour chart Advanced Get

Much focus on the CADJPY cross this week has clearly paid enormous dividends! Price has slumped from 85 to 80 yielding terrific gains!

Those of you who have a "running" position may want to adminster it with care.

The Swissy (below) is evidently in no rush to grant us with a conspicuous "swing" opening, but our ability to observe and linger from the sidelines will eventually award us with an opportune trade.

USDCHF daily chart Advanced Get


I wish you a pleasant and considered weekend.

Saba Jackson

A Cross To Wave Five

Good Morning Dynamic Traders!

The CADJPY cross made a dramatic U-turn yesterday (BLOG 4 Nov) supplying a healthy yield for those of you who took this swing.
The daily chart (below) has produced a "tram track" whilst other chart patterns emphasize further vulnerability.

CADJPY daily chart Advanced Get

Below is the 4 hour chart

Yesterdays decline witnessed a trend line betrayal. Price is presently dwindling at a firm support area, considering an onward move.

We will need to see a definitive break of this support prior to confirming our positions towards a lucrative wave five continuation.

A mechanical ESLT is highly recommended!

CADJPY 4 hour chart Advanced Get

Good Trading!

Saba Jackson

Watch this Cross

Good Morning Dynamic Traders!

The CADJPY cross witnessed a colossal fall off in October followed by a period of consolidation.

The daily chart below reveals that price is currently at a fib level supporting a sustained descent, but it is equally important to note that a strong resistance has been breached with another within reach.



CADJPY daily chart Advanced Get

Below is the 60 minute chart.

Price is cheerfully up- trending; parading higher highs and higher lows, but our faithful macD is alerting us to an impending reversal.

Supplementary analysis should furnish you with further confirmation for a promising “swing” opportunity on the horizon.


CADJPY 60 minute chart Advanced Get

Enjoy an eventful day!

Saba Jackson

Candlestick Tip-Off

Good Morning Dynamic Traders!

Having enjoyed almost eight years in an upward trend, the CADJPY has been suffering a sharp tumble since November 2007.
Indeed, indications confirm that price has significant weakness left.

Yet, the daily chart (below) has revealed a bullish dragonfly doji at close of play last Friday, whilst the weekly chart modelled a very confident spinning top.
Price is also at a decidedly extended fib level and should be longing to head back towards the value index.

We may see price retrace towards the figure 90. Look for your confluence of events and if appropriate, use the smaller time frames to confirm a safe entry point.

Recognise that going against the trend requires responsible use of the ESLT.



CADJPY daily chart Advanced Get

Have a nice trading day!

Saba Jackson