Swiss Yen DB?

Guten Tag Dynamic Traders,

Hope you are having a fabulous week. I want to talk about the CHFJPY today.

On the monthly chart the strength in the downtrend is very apparent with the price action (albeit steep), candles, and the MACD.

On the weekly chart below, you can see one strong support has been broken and another one is in sight at the 76 figure. Note Mr MACD is showing shorter term convergence.

Price has touched a recent low today and this is visible on the 240 chart. MACD is displaying convergence on this timeframe also.

The 60 minute chart shows the price bounce up since reaching the previous low. It is currently at a trendline that has had a few touches along the way. Things to keep in mind:
- figure;
- possible DB if so wait for confirmation and break of S/R/T; and
- price could fail to break the trendline and continue south, in which case we would wait for a BOB and use ESLT for entry.














Expect plenty of volatility today as there are 11 high impact news items out, two of the key ones being interest rate announcements relating to the Pound and Euro.

Good trading!

Bijal Shah

There is excellent support at zero

Brakes on the Cable

Good Day Dynamic Traders,

Hope you all had a fantastic weekend. There is only one (AUD) planned high impact news item today so may be a slow start to the week. The Swissy mentioned on Friday's post is still on the watchlist for a reversal on the short side.

Cable

The Cable weekly chart shows price at a key Fib reversal level and the figure is in sight. An aggressive trader may see this as a good opportunity with low risk to go long if the entry is timed appropriately with patience and the correct signals. However, be aware that this is trading against the trend.

The daily chart adds to the confluence of events by displaying MACD divergence. If you are in the trade, it should be managed carefully.


























Source: Advanced Get

CHF/JPY

The CHF/JPY daily chart provides an opportunity on a break out or break down. The figure is again prominent and price is at a key Fib reversal level (more apparent in the 240 timeframe)which highlights a move up is due. Review lower time frames and ensure confluence of events prior to entry.



























Source: Advanced Get

Happy, patient trading!

"We can't get back and make a new start,
but we can always restart and make a new end."
Ayrton Senna

Anne's Updates

Hello forex traders,

Anne has updated her Twitter with a good set up if you have not already seen it. You can get her Twitter details from her forex blog.

Good trading...

Javid Shaik
Forex Analyst

Profits On CHFJPY & Crude Oil

Good morning dynamic traders.

After providing excellent profits, the CHFJPY is at the support zone I mentioned yesterday. The price has come down to $80 and bounced closing my position off. Well done those who have taken this trade as well as others trades using 3D.


Advanced Get CHFJPY Chart

I have mentioned since the beginning of the year on this site we are likely to have a recession. Britains economy has shrunk by 0.5% and although officially we are not in recession until the next GDP figures we are without doubt in trouble.

The Pound Dollar has dropped 50 cents to the Pound which is good for UK exporters but if we are heading towards a world recession then no one outside of the UK will really be looking to import so that doesnt help UK exporters. What it means for individuals is the short shopping trip to New York will be more expensive than it has been since July 2002.

It's not all doom and gloom. For dynamic traders it has been an excellent trading period as markets drop. With the big moves across the currency markets we may see the beginnings of oscillation so take appropriate action. The GBPUSD may find support at the 1.50 area.

As I have previously stated when oil was in the $100 area that it is likely to fall toward $80 and even $60. Well that has happened but it seems OPEC are not keen on falling oil prices so the noises are oil production might be cut to increase oil price. OPEC might be slashing oil by 1.5 millions barrels a day.

You can read my other update on www.fxcps.co.uk/blog

Have a good weekend dynamic traders.

Forex Analyst
Javid Shaik

Pivot Points, Double Deviation & 3D

Hello Dynamic Traders.

I am interested in squeezing in a few things this afternoon before Jagir updates the FX blog with his chart analysis for the day.

Below is today's pivot points and also the spreadsheet for my Double Deviation strategy. You will see today has been another good day across many currency trades using Double Deviation although the reality is you would not have taken all of the trade set ups but even taking one trade would have pocketed you a nice sum.

In addition I have short positions with 3D on CHFJPY which I imagine some of you may also have taken too. The positions are all managed and I will look to scale out further prior to $80 in case of a figure bounce.





Dynamic Trader Forex Toolkit

I hope you are all enjoying a great forex trading week. Excellent profits have been produced using the strategies we have shared with you all on our mentoring webinars and one to one mentoring. Jaco has recently left me a message with his outstanding returns of over 1350 pips.

Well done to Jaco and to all of you actively using what we have shown you.

For those of you who are not already aware, Anne has her own forex blog she updates which you may want to visit. Anne's forex blog.

Good trading...

Forex Analyst
Javid Shaik

Swissy Entry Point

Welcome to another forex trading week dynamic traders.

I have been looking at the USDCHF for either a reversal or breakout and continuation.

Advanced Get Elliott Waves shows a good wave 5 set up with wave 4 behaving well. The MOB is shown on the chart to identify a possible target. XTL is flat at present.

Alternatively, discarding Elliott Waves, this chart shows a reversal potential based on the figure, divergence and a possssible double top pattern.

It is 2.30am Monday morning at the moment and I will await to see what happens when I wake up to decide my position on this. This is also going to be decided by the markets reaction to the 700 Billion bailout approval.

Whether we have a continuation or reversal, this pair could provide some excellent profits in the coming days.

CHFJPY is at a support level this morning. If you are still in this trade based on this forex analysis then now is another time to manage that trade.

Click here for Anne's forex blog.




Swissy Daily Advanced Get Chart

Forex Analyst
Javid Shaik

Swissy Yen Support

Good evening forex traders.

Those dynamic traders that took the CHFJPY will be 400-500 pips in profit at the time of writing this which is not bad for a couple of days work. Ok, let's be honest, it's a little more than the average monthly salary so well done to all the dynamic traders for doing your own analysis prior to placing the trade. I have moved my stop very tight on this cross now in case we have a bounce from previous support.

Some of you will have seen a convergence going on and may even have closed off your trades which is fine because you cant go broke taking profits!



CHFJPY Daily Advanced Get Chart

We have left New York now and arrived in Boston a little while ago. Anne's Dynamic Trader Blog update will be sometime next week. She is too busy admiring her new watch at the moment.

Below is a photo we took from the top of Rockefeller in the direction of the Empire State Building.



Good trading...

Javid Shaik
Forex Analyst

Dow Relief Rally

Good morning dynamic traders. What a day on the markets yesterday was!

The drop across the board on stocks and indices is as a resut to a lacl of agreement on the bailout. As forex traders we should all be benefiting from this indecision and uncertainty. The CHFJPY has made some good profits and again I have scaled out further and am managing the trade. Those of you who are also in this trade should look to do the same.

Went to the top of the Empire State Building (below) this evening and spent some time watching the organized chaos on the roads. Unfortunately the chaos in Wall St. certainly is not organized and further moves down should be expected but also a relief rally at some point will come in to play. This is just how the markets work so the bears might look for good opportunities for selling short.



Good trading...

Forex Analyst
Javid Shaik

Swissy Yen Trade Update

Hi Dynamic Traders.

We have left Atlantic City this afternoon and arrived in New York. It is a cool day here and the sun seems a little shy but thats fine as long as the rain holds off.

This is a short update for those of you who have emailed today regarding your profit on CHFJPY from the analysis on Friday. It is time to manage this trade which is about 100 pips in profit at present. I am using 96.55 as the stop loss and have scaled out now.

The Dow has sold off massively today and this is all due to the Bailout logistics. The market closes here in the U.S in 9 minutes and I can only imagine it has been a worrying and stressfull day on Wall St. The days ahead probably wont be much easier and looking further ahead, even if this bailout goes ahead dont expect the markets to immediately turn bullish.

In the mean time, please do not get caught up with emotions in the markets. If anyone who invests in the stock market has been caught completely off guard with the market behaviour at present then I would like to suggest you take some good trading courses or stock market mentoring before delving into the markets again. We sold off almost all of our shares more than a year ago in preparation for a retracement even though the brokers were saying we were in a bull market and that we were crazy to sell our shares and recommended we buy more shares. I wonder if they still have their jobs now!

Lastly, we are always happy to receive emails from people we have trained and mentored and are doing well now but we will also like to hear from anyone we have mentored who is facing trading difficulties.

Have an excellent dynamic tading week and remember, the markets react to uncertainty and right now the markets are uncertain. Those that were on our forex mentoring webinars, you need to remember the stratagies we discussed. Use the smaller time frame for day trading or for swing trading using the larger time frames. Scalping is certainly not advised in most cases and definitley not now. Always use the right strategy for the right market conditions.

Have an excellent forex week during this U.S financial crisis times.

Good trading...

Javid Shaik
Forex Analyst

Swissy Yen Reversal or Breakouts

Good morning dynamic traders.

We are taking a trip to Niagara Falls today but unfortunately the weather is not as pleasant as it has been until now so this gives us a little more time for our currency analysis.

Doing our forex analysis this morning (EDT) there are a few charts worth looking at and we have placed a number of limit orders.

The CHFJPY chart below has numerous set ups and for shorts or even for a long with reversals in place. Following the trend trading methodology we have a short set up tied in with a limit order with a small stop loss.

Should this currency cross produce a bull flag and reverse then a long should be called in to action again with a well placed small stop loss but take note of th moving average.

Our swing trend trading system model is calling for a short on this cross but has not given a trigger and as we will not be able to monitor this possible set up it system has been turned off fr the time being and we will continue to trade this using discretionary trading.



CHFJPY Advanced Get Chart. Data provided by eSignal.

Good trading...

Javid Shaik
Forex Analyst