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

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

EURAUD Short

Dear Dynamic Traders,

Hope you all had a very merry Christmas. Below is a daily chart for the EURAUD. I am looking for a short entry if/when the price breaks previous support.













Good Trading!
Bijal Shah

EURAUD Indecision

Good Evening Dynamic Traders

EURAUD has produced an indecision candle so far today. Price has tested the low and attempted to break the triangle, but is failing. What we have is the strong figure below, obviously proving to be a strong psychological barrier for price today.

We know in a good down trend, support levels are continuously broken, but we also know that trends do eventually come to an end and either consolidate before it's next move or takes a new direction. So will the 1.60 level halt price in it's current trend and reverse, or will price simply lose steam for a little while and then muster it's bearish strength to smash through this RN hurdle?

















Patience and confirmation of a definitive move is certainly what's needed for an SM trade with this pair. As always please carry out your own analysis and judgment on this trade.

Have a good evening. Great trading!

Sonia Molina

EURAUD price squeeze

Good Morning Dynamic Traders

Hope you're all well and had a successful couple of weeks on the markets. It's good to be back although the Arctic conditions here in London has been a bit of a shock!

It seems the markets have been a little unsure of late and there have been some pullbacks and breathers across some currencies. So it may well have been a good time to be away.

Below is the EURAUD daily chart. I've chosen this one today to highlight the chart pattern we have forming. You can clearly see the triangle formation and inevitably price will create a BOB - either continuing with the friendly trend or bouncing up or even possibly reversing.
















We can gather from the chart that price has been in a very healthy downtrend, without any deep pullbacks. The most recent breather has behaved perfectly, tagging the 50 fib with some nice indecision candles. We have the TL acting as R and the trend in our favour. However price is encountering a strong support level which is also in proximity to the figure - so how will price react?

As SM traders we'll wait to see what the market will do and then take the appropriate action. Be impartial and don't have any expectations of what the market may hand out.

Have a great trading day!

Sonia

Review of Week

Hi Dynamic Traders

I hope you're all enjoying the weekend! I also hope you've made time for your weekly analysis, assessment of current trades and new opportunities.

I'd like to do a review of the posts from this past week, to see how things have developed, or not as may be the case.

EURAUD was mentioned on Monday's blog and there was a potential continuation downwards on the horizon. As you can see we haven't seen that much develop with this pair. After such a long move down, it's expected that price will inevitably consolidate. Price seems to be finding comfort at the 17,000 region and continues to test the S/R zone area as resistance. By checking in on the weekly chart, you will see that the past few weeks have been quite small candles and ideally we're looking for momentum to pick up strength for whatever move this pair decides to do next! Let's see what the week ahead brings us.

Moving on to AUDJPY, our squeeze formation is still continuing and will be forced to make a decision very soon as to which direction it will go. Of course we can weigh up our odds and make our assessments, but we must always be patient and await for the market to dictate it's move. We did see a test of the upper TL, but didn't have the break and close needed to potentially enter for a continuation on the upside. So will the squeeze break upwards and continue with the current trend? Should this be the case, the conservative traders may want to wait for a break of the previous high before entering. Of course we may see price breakdown, although we do have the VI looming below which will surely act as support. Do check in on the weekly timeframe to furnish you with more insight. One to continue keeping on the watchlist!

USDCAD, mentioned on Wednesday is a similar story. We're seeing price wedge between the S and TL and we saw a fbo which tested the low and then retreated. Also take note of Friday's candle -indicating that sellers may still be in control! Again price is being squeezed into making a decision and as SM we'll be awaiting it's next move, armed and ready to take the appropriate action.

Overall, these pairs haven't seen any big moves this week for the swing trader, but that's how trading goes! This serves as a great reminder of the importance to be patient - you might be ready to trade but the markets might not be ready for you! Always remain neutral and don't have any expectations of the market.

Let's await and see how the market unfolds this week.

Here's to great trading for the week ahead!

Sonia Molina

EURAUD continuation down?

Good morning Dynamic Traders

I hope you've all had a fabulous weekend. Thank you to my fellow bloggers for such a warm welcome!

Today I am looking at EUR/AUD. The major trend is down and price recently broke it's consolidation by continuing south. Price seems to be finding comfort around the 17000 mark - obviously a psychological barrier for buyers and sellers. We saw price do a FBO and now with its second attempt out of the zone, price seems to be doing a pullback and retest of support as resistance. So let's stack it all up - the RN, support potentially turned resistance and the trend as our friend - odds are in our favour for a continuation down.
















Let's go down to a lower timeframe to see if we can strengthen our odds and find any more clues. On the 4hr chart we can see there is a nice squeeze formation and whilst writing this, we have a doji forming which is tagging the TL resistance. This may even be a DT formation. With the RN and VI also looming above this adds to our edge even further.
















For the more aggressive trader, entry can be taken on a breakdown of the squeeze on the 4hr. I'll be waiting for a break of low before entering and applying ESLT. This is going to be an interesting one to watch this week.

Here's to great trading!

Sonia Molina

Our Forex Webinars Paying Off

Dynamic traders, the weekend is over at last and another forex trading week is ahead of us.

Since our forex webinars the majority of you have been making consistent profits and that is really good to hear. A voice mail from Jaco over the weekend saying he has been in good profits two weeks in a row now was excellent news and so another happy student to add to the list of already profiting attendees. Last week, Bijal had five winning trades in a row which is further good news. Congratulations to both of you and to all who are following the rules and getting that consistency. It is good to know the webinars are paying off for many of you.

Good trading very much depends on good habits. Emotion is experienced by every trader at some point and with non educated traders or new traders having to deal with it more than most others. It is exciting when the trade goes your way but disappointment when it all goes wrong. Each time a loss is uncurred a traders confidence can take a knock and a lack of confidence makes it very difficult to trade. The opposite of that is over confidence which can appear after a string on winning trades. You start to risk more than you should on each trade and you may even start to over trade. This is common in new traders and some experienced traders.

All traders need to remove emotions from their trading. Yes this is easier said than done but following and sticking to the process we have been through on our webinars will really help. For those of you reading this that were not on our webinars and suffer from emotions, my advice is to create a trading plan for yourself and follow it. In addition, get yourself good forex education to learn how to trade the forex markets consistently.

If you are shorting the EURAUD then tighten your stops as this cross is not far from the support level and as you know we could get a pullback or reversal here be it intra day or longer. Look for a BOB for a continuation but right now make sure you manage this trade.


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Good trading.

Forex Analyst
Javid Shaik