EURNOK & GBPAUD updates

Morning Dynamic Traders

I hope you all had a great weekend and enjoyed the beautiful sunny day we had on Saturday. Hopefully Spring is on it's way!

An update on two trades I talked about last week.

GBPAUD - as you know I am short on this and it has been a very successful trade with over 500 pips in the move so far. Price has now broken a major support area and as of this morning is retesting/having a breather. There is always the chance this could be a FBO - but confluences of a TLR, downtrend, price below VI, ST - all stack up in favour of a trend continuation. This could also be a good opportunity to compound your trade if risk free.

















The Daily chart also presents a good set up for a classic BOB/ESLT trade or MOBO. Again there is a chance this could be a FBO, especially as price has been consolidating for some time. ESLT should provide that extra protection. Be aware of the RN which is not too far below - this may provide some support.

















EURNOK - Price did find support at the major RN 8,000 and bounced up. But we now have additional confluences for potential further price weakness. Price has now retested previous support as resistance, also tagging a fib breather and we have the added weight of a TLR, keeping price down. Again, a BOB of the low and of the RN is what's needed for a short entry.

















As always please carry out your own analysis. Have a great SM trading day!
Sonia Molina

GBPAUD end of breather?

Good Evening Dynamic Traders

I hope you all enjoyed the weekend! The artic conditions in London aren't giving up.. more snow on the way apparently. Well if we do end up snowed in again, at least we have trading to keep us busy.

I wrote about GBPAUD last week - a good trade as it handed out nice instant profits and I'm now managing this trade without any risk. I hope some of you traders out there also benefited from this market move. I mentioned that price was probably due a breather after its steep move down and indeed that is what happened. Nothing magical about it.. it's trading basics. After every move, we'll usually see price have a breather.














On the chart you can see the price retracement, almost tagging the VI as R (nothing's exact in trading!) Check out the candlestick formations we have - a sizeable spinning top soon followed by a bearish engulfing candle. At the same level we also have a fib breather acting as R. So a nice collection of confluences for a short entry if you're not already in this trade. If you're risk free, a possible compounding opportunity on the horizon for a continuation. I'm awaiting a bob of the low for entry. Bear in mind the RN 1.7500 could act as support and check back in with the big brother timeframe for S/R levels.

Please carry out your own analysis.

I've started reading 'How I Made $2,000,000 in the stock market' .. such an interesting read! Worth putting on your reading list if you haven't read it already.

Abundant trading!
Sonia Molina

GBPAUD breaks VI

Afternoon Dynamic Traders

As mentioned in Monday's blog, I was awaiting a VI BOB of the 4hr GBPAUD. The daily chart suggested further weakness and I used the lower timeframe for entry as I could see the 4hr VI was a potential threat on the horizon. As you can see on the chart, price hovered around the VI until yesterday afternoon gave the awaited VI bob. ESLT was applied for entry and price has since triggered the trade, broken the next support area and hit my T1. I am now risk free on this trade and managing my profits nicely. Price has moved around 200 pips today, so a breather after this big move down could be due.














The JPY 1hr trade I mentioned yesterday did a FBO downwards and then bounced back up into the triangle. As a SM trader, the ESLT tool would have have protected your trade from being triggered. For me this set up is looking less appealing now due to the long consolidation it's having. Also, the support level just before 89.00 seems to be maintaining it's strength, at least for now. So instead I've put the 4hr/Daily back on my watchlist - awating a more definite bearish signal. Patience for a swing trade on this one.

Wishing you all a great day of trading!
Sonia Molina

GBPAUD channelling

Morning Dynamic Traders

I hope you've all had an outstanding weekend and are ready for an even better week ahead!

Below is the daily GBPAUD. You can clearly see a channelling pattern price has formed, bouncing between a strong resistance and support line. As the trend is down, the odds favour a continuation south.

1. One confluence for a short is the tag of the R - well almost. There's always the chance that price will bounce up to test it properly.

2. But with the additional confluence being the recent tramtracks we have a good indication that price may weaken.

3. In addition to this we have the MACD divergence.

So we now have a nice collection of confluences for a short. ESLT could be used on the previous bar to the high for an aggressive entry. Of course the daily chart is in this current range and a more conservative entry would be a bob of the low.














Going to a lower TF could provide a better set up, so I'm also keeping an eye on the 4hr timeframe for entry. Price has recently broken the TL, but now I'm awaiting for a BOB of the VI before any action is taken. There is a S/R level close below so this should be taken into account for a safer trade.














My GBPCHF and USDCHF trades are in positive territory as of this morning. I'll keep you updated as the week progresses.

Great trading!
Sonia Molina

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

Sterling Aussie

G'day Dynamic Traders,

Hope you are all having a good week.
The EURCHF pair mentioned yesterday produced a bar today which stayed within the range of yesterday's bar and did not really do anything decisive. Those employing ESLT filters will therefore not have been triggered. Its time to be patient and allow the price to guide you. No one knows what is going to happen next and a winning trader does not need to know either (Mark Douglas).

Today's chart is the GBPAUD.
After a long move down price retraced to a Fib breather level ("big move, small pause, big move" in the words of our famous mentor). The value index has been tagged and is currently acting as resistance. A reversal candle is on display. Will the price continue its trend down?
Use the aid of trendlines, BOB and ESLT to time your entry.














Question 4
How long can I hold the vision?

Have a fantabulous weekend
Bijal Shah

GBPAUD

Hello Traders,

Both charts posted yesterday took a break from current trend. The Aussie moved in excess of 300 pips down though did not quite reach the Fib breather level. The Swissy moved in excess of 400 pips from high to low and at the time of writing this is showing a bullish candle for the day. Both of these charts will continue to remain on my watchlist for further opportunity.

For today I have reviewed the GBPAUD daily chart. This pair has produced another big bearish bar and passed through a support which has had many previous touches. Price is currently in a zone which has Fib clusters, S/R's and RN. To add to this MACD is showing convergence. Worth reviewing lower timeframes for the appropriate opportunities.















Savour the last few days of 2008 trading.

Bijal Shah

Pound Aussie DB?

G'Day Dynamic Traders,

Lots of movement in the markets today, hope you managed to sweep some sweet gains.

I have posted the GBPAUD chart today which is a personal favourite of a few people I know.

The monthly timeframe shows no real trend, price is going mainly sideways, and the weekly shows a downtrend since October time.

On the daily chart the price appears to be displaying a descending triangle forming into a squeeze. The value index has been providing support in recent times. MACD has been following price fairly diligently although the previous low on the MACD is far lower than the current low in comparison to the price.

The four hour chart shows more clearly what appears to be a DB. Though the current trend may be down, there is strong support around the 2.22 area, with the squeeze forming a bounce up may be witnessed prior to further potential weakness.














A word of caution, this pair does range more than the more common ones discussed here, therefore good risk and money management are imperitive.

Happy Trading

Bijal Shah

“Obstacles are those frightful things you see when you take your eyes off your goal.”

- Henry Ford

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2000 Pips Missed

Good afternoon dynamic traders.

I was speaking with a friend earlier today and he was telling me how he was doing his analysis on the GBPAUD (weekly GBPAUD chart below) late yesterday and prior to placing the trade he fell asleep. When he checked the chart after he woke up he noticed a big move that he unfortunately missed. The move he missed was in the region of 2000 pips!

Circumstances like this where trades are missed are all part of the reality of trading and sometimes frustration takes over and in a moment of madness we break all our rules and chase a trade to get revenge on that missed opportunity. This is where discipline needs to come in and rules have to be followed.

Many of you often ask about Turkey Catcher who I mentored on forex a couple of years ago and want to know how he is getting along. I can tell you Barry is living the best years of his life. Those were his words not mine. He has a wonderful wife and they both trade the forex markets. Neither are employed anymore and have a great lifestyle. Last month Barry earned over 20k and this month he has over 10k so far.

Over a year ago when Barry decided to leave his job and trade full time he was very worried. I have seen Barry go from minimal knowledge on trading to being a full time trader and living the life he told me he wanted from the start of his journey.

Well done Barry and enjoy your financial freedom as well as your helicopter lessons.

Below is the weekly chart of the GBPAUD. You will see this weeks price movement was halted from previous resistance.



GBPAUD Advanced Get Weekly Chart.

Good dynamic trading...

Forex Analyst
Javid Shaik