Nice Profits!

Good Day Dynamic Traders,

The EURAUD chart mentioned last Wednesday has produced lovely profits. Please see chart below, something to be mindful of is that price is approaching support and RN.













Other opportunities I mentioned on Monday that I am looking for suitable entry on are GBPAUD and Crude Oil both of which are looking at breaking out from support or resistance.


























Good Trading!
Bijal Shah

Black Gold Breakout on the horizon

Good Evening Dynamic Traders,

We have a possible breakout of crude oil on the horizon after a period of consolidation. The overall recent trend has been up and therefore a break up would not be surprising. Price has tested the resistance but has failed. It has now broken through one resistance level and now its time to wait and see if it can break through the next and show signs of continuation. MACD is showing good momentum at present.

If price fails to break through, the smart money will notice the possible signs that will turn into reversal signals. As mentioned previously, no one know what is going to happen. The best preparation you can do is to not make any assumptions but be ready and act on the signals that the market provides.














Emotion Free Trading!
Bijal Shah

AudNzd

Good Day Dynamic Traders,

Hope you have had an awesome weekend so far. I am finally able to upload charts and so we are back in business :).

I mentioned crude oil last weekend and a potential breakout to the upside. Price failed to breakthrough and is now heading towards the trendline support. It may bounce off this support and try to breakthrough again or it may continue further down to test the VI.

Below is the AUDNZD daily chart. After a period of consolidation, price appears to have broken through a strong support including the VI. Of course there are no guarantees that this is a true break out and therefore need to be a little cautious. Having said that price has been creating lower high's and lower lows. Apply your favourite filters and enter as appropriate.















Good Trading!
Bijal Shah

Review of the week

Good Day Dynamic Traders,

Hope you are having a blissful weekend.

Just to recap on the trades posted from last week:
The AUDJPY produced a bullish break out on Friday, as we all know this is influenced by NFP so the next days will tell us whether this is a true break out or not.

The Swissy headed north after coming close to a break down, again it will remain on the watchlist as sooner or later price will break out of consolidation mode.

The GBPCHF remains at a double top formation with support from the value index. A break out need not be ruled out just yet.

The two charts that I would like to discuss today for their potentiality are Crude oil and the USDJPY. Both are at a point where price may break out and therefore are good for the watchlist. Unfortunately I am unable to post the charts at this moment but will try again later as the visual will help understand what I am trying to articulate.

Good Trading!
Bijal Shah

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

Crude Oil Bounce?

For the dynamic traders that like oil, the daily Advanced Get chart below shows some interesting signs of weakness. XTL is red but we need this confirmed first otherwise look for a 123 bounce then a trendline and MA break.

Those who traded the CHFJPY should be in good profits which are increasing today. I have opened another position add the breather level which seemed like a bearish flag pattern.

In the coming months we could see oil decline to around $80 and even $60 and find a base there if the technical path continues with supports being breached. I know of one dynamic trader that has hugely benefitted from oil in the last year.




Crude Oil Daily Advanced Get Chart.

Anne's forex blog.

Forex Analyst
Javid Shaik

The Loonies Breakout

Good morning forex traders.

The Loonie has had a breakout and reached the 1.0500 zone and finding some resistance there this morning. Although a possible pullback maybe possible, as dynamic traders this is not a good trade to enter into at this point as we do not have our confluence of events.

Yesterday the USDJPY has also broken out from the resistance level and we have been stopped out on our second position on this trade. Price reached just less than the figure and is at 109.41 at the time of writing.

We have rate decision and Trichet talking today so you may want to stand aside. Both the ECB and UK are expected to leave rates unchanged.

The falling oil prices is supporting the Dollar strength. Below is the weekly chart of the Dollar Index Futures. Notice the long downtrend and trendline resistance.


Weekly Dollar Index Futures Advanced Get chart.

Below is the daily crude oil chart. Notice the trendline break with divergence at the figure.


Daily light cride oil Advanced Get chart.



Above are today's daily pivot points.

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Good trading.

Forex Analyst
Javid Shaik