Euro resilience

Morning traders,

Yesterday Spain was downgraded by the S&P and yet the Euro stood firm.

Upon closer examination of the Euro Dollar, we can see slow and continuous weakness progressing but not at the level we perhaps would have expected considering the Euro zone has been dishing out bad news recently. Our nearest zone of support is at 1.30 then 1.29 so expectation would be to see weak follow through to these levels at some point.

Currently we are not oversold so there is more room for weakness possible and VI is negative. In addition, there seems to be strength is the trend forming slowly. However, if we bounce from here then resistance will be met at the 1.33 and 1.35 levels. If any bounce fails to clear these levels then a range or a countinuation down can ensue. Either way, Dynamic Trader members will know how to enter this trade with our entry techniques and strategies.

The GBPUSD on the other hand is not showing much strength at the moment but this could change. However, at the moment we might be in a ranging enviroment so the safe bet is to stay clear of this pair until we have a set up. Again, Dynamic Traders will know how to enter this trade and when the right time is.

USDCAD is currently being supported by the figure. If we clear this point then we must see a continuation but as all Dynamic Traders know very well, do not second guess and be patient for the entry.

Good trading.

Javid Shaik
Dynamic Trader

GBPUSD Range

Good morning Dynamic Traders,

Yesterday has provided our members with more winnings to add to the already profitable year we have had so far.

From the start of the year, most weeks and every month has provided positive results and as market conditions change we need to change with them. The chart below shows an example of a market change.




Chart courtesy of Advanced Get. Data provided by eSignal.

Although not drawn on the chart, you will notice MACD converging showing us a possible pullback/consolidation. The GBPUSD is in consolidation from 1.48 - 1.54 after the recent move down. On the chart you can see Stochastics is overbought and almost crossing down from the O/B line showing us a potential weakness.

As Richard has pointed out on his forex update this morning when I was still asleep, he is waiting for a break of the 1.48 support before looking to take a trade. Short term traders could position themselves earlier for short term gains but conservative or swing traders will want to follow Richard's guidance on the Cable. You can read Richard's GBPUSD update here.

The Euro Dollar has almost reached recent support so watch for a break or bounce of this for a trade opportunity. Dynamic Traders will know our specific methods to enter the trade and should follow those rules.

Looks like a nice day here in London but unfortunately we are unable to take advantage of this as we have a busy schedule.


Good trading.

Javid Shaik
Dynamic Trader

Cable price action

Good Evening Dynamic Traders

I hope your week has started off positively! Let's hope this lovely weather is here to stay.

Today's update is on the GBP price action - and the emphasis is on price action as opposed to fundamentals. GBP is under a lot of scrutiny at the moment and people are trying to predict what will happen next. No need for a crystal ball, let's study the chart for technicals.

















GBP broke it's consolidation phase in early Feb and has been weakening ever since. We can see where price is having a hard time breaking through - the psychological RN surely has something to do with it. So will price break this level and continue down or will GBP reverse? No one knows so we'll have to wait for the market to show us direction. The recent bounce could very well be a breather. Price has nicely tagged a fib breather level and so far today, price is providing an additional confluence with a TT formation. So odds are stacking up for a continuation down, but a clear BOB of the RN/low is what's needed for a safe entry.

Abundant trading!
Sonia Molina

Further Gains

Morning Dynamic Traders,

Further to our recent members only webinars, we have managed to accumulate more profits on the trades we discussed. We had a good end to yesterdays trading and a very good start to todays trading.

Most of the Dynamic Trader members will have gained 1000's of pips from the begining of 2010 based on our strategies and are now looking for more opportunities. Remember, patience is key to trading. It is easy to feel invicible when so many trades have done so well but part of the reason they had done well in the first place is we used patience in addition to our good set ups for entry.

The Euro Dollar is in a range and not doing anything at all which is making it very boring at the momnent. However, the Pound Dollar is on the move today so this is a better bet for trading.

Further to the update regarding the GBPCHF, Sonia is absolutley right not to second guess what could happen so we will go through the facts and analyse this cross on the next members webinar.

We are off to Europe to the open roads so we can hear the rumble of our Aston Martin DBS. It is a very beautiful looking and sounding car but unfortunately the sound is muted due to speed limitations.

AUDJPY welcomes BOB, GBP update

Good Evening Dynamic Traders

Apologies for there not being an image, I seem to be having technical problems with my software and it won't upload. Today we welcome a BOB on the AUDJPY daily chart - and a very bullish bar at that! We've been following this pair for a few weeks now in anticipation of this possible breakout. Both MACD and RSI are still showing good strength and momentum, although we've had quite a consistent run up in the past couple of weeks, so may see price take a breather soon.

Remember we have the up trend in our favour, price is above the VI, our recent consolidation tagged a fib breather level and we now have the BOB of a previous high. So stacking up the odds we're in good shape for a continuation to the upside. We are approaching a RN however, so may well see price lose some stream in the meantime. On the other hand it may well ignore the RN and just keep going! Dynamic Traders, using ESLT would be a good choice of tool here, armouring you from any potential FBO's.

Looking at the GBP we failed to see a breakdown and price has bounced up and broken above the VI. What does this mean? Will price resume to it's current up trend? Or is this simply a retest of the H&S neckline? Whatever the case price is still ranging, so my preference of entry will either be a BOB of the high or of the low. Until then as SM we should patiently await for price to make a definitive move.

As always please carry out your own analysis.

Wishing you all great trading!
Sonia Molina

Mid week review

Good Evening Dynamic Traders

We're already mid trading week! I'm having troubles updating images tonight but hopefully you can follow my comments. I'm checking in on my previous blogs on GBP, SGD, ZAR and AUDJPY.

Looking at GBPUSD, price yet again failed the BOB and rebounded off the support area where buyers obviously stepped in. What looked like a possible BOB yesterday morning, ended up very differently by close of the trading day. This is a great example of being patient and waiting for the market to make it's final move! You can see price is simply ranging between this VI R and S area, clearly telling us buyers and sellers are battling it out - who will win? Could we see a TT at the VI and a move down? Or will price continue to seek comfort near the VI for a while? Patience is key whatever the case.

SGD has had a bearish couple of days and on first glance we may think the breather is over. But of course as Dynamic Traders, we know this breather isn't complete without the BOB of the low. So again patience is needed to enter a possible trade here.

ZAR is also testing the support level tonight and should there be a BOB, remember we have the channel TL looming close below as the next barrier.

AUDJPY today has tagged the previous high and retreated slightly. Remember we have the RN clustered with the R, so we may see some indecision here before a potential BOB. Again wait for the confirmation and then take your action.

Remember, standing aside is also holding a position. You might be ready to trade, but the markets might not be ready for you. So be patient and wait for the correct signals to enter.

Please always carry out your own analysis.
Here's to great trading!

Sonia Molina

Will GBP breakdown?

Good Morning Dynamic Traders

What a lovely morning it is today. Hope you've all had a great start to the trading week.

As you know, GBP has been on my watchlist recently as I've mentioned it on the blogs a couple of times now. This morning price is testing the S level again - certainly not the first time! End of trading day today will be very interesting to see if we finally have the awaited BOB. We did have a BOB attempt yesterday which failed, so we need to be cautious of any FBO's. This current ranging period has lasted a few months now so as dynamic traders we'd like to see a clear BOB before entering any trade.
















Hopefully you all uncovered the H&S chart pattern, which Clayton also talked about last week. There are also other confluences to support a possible new trend down. We now also have a false bar forming at the bottom on Stochastics. But as mentioned time and time again, we must wait for the market to make it's move and give us a confirmation. As we know, the markets could do anything! The US market opens again today after a Bank Holiday so there may even be some unexpected volatility.

Please always carry out your own analysis. Have a great trading day.

Sonia Molina

NFP tomorrow

Good Morning Dynamic Traders

Hope you're all enjoying the week and trading with confidence!

Due to NFP tomorrow, I'm not looking to open any new positions. Before this high impact news, we can expect to see some volatility in the markets, so my preference is to stay.

But I just wanted to do a quick update on the GBP and GBPJPY which I wrote about this week.













You can see once price reached the S zone it bounced up and has now retested the VI as R. This R area is also clustered with a fib breather level. Interestingly yesterday also produced an indecision candle. So where will price go now? Take note of the false bar showing up on Stochastic - are we in the beginnings of a new downtrend? You can see I have also added a TLR. Should price break back above the VI then it will be contending with this as it's next R. For me this pair is going to be very interesting to watch. See what else you can uncover - do you notice any chart patterns?

Moving over to GBPJPY, price found the 140.00 figure tough to break and is now doing a pullback. Will it repeat the same bearish flag chart pattern? Check your indicators and see if they can guide you in any way. Should the pullback tag fib breather levels then entry can be taken on a BOB of the RN and pivot low with ESLT - of course this is dependent on your trading style and TP.













My next update will be on Monday now. As we're entering a new month, take some time to review your trades from September. It's hard to believe we only have 3 months left in 2009. It's a good point in the year to check in on your goals and assess where you're at too!

Enjoy the weekend. Here's to great trading!

Sonia Molina

Keep an eye on GBP

Good Morning Dynamic Traders

Hope you've all had a great start to the trading week.

I would like to take a look at the GBP which has been off our radar for a while as price has been consolidating for some time.

This pair featured a lot in previous blogs, but it would be good to have a recap. So let's take a quick look at the weekly timeframe to get an overall picture of what's been happening. We can see price took a heavy fall last year and bottomed at around the 1.35 mark. Since then price has been steadily climbing up and after breaking above the psychological 1.50 figure, continued up with strength. Price is now in proximity of the VI which is also clustered with the figure and a fib breather level. This has given price a very strong resistance barrier to contend with. Note the extreme candle we have on the chart and also check the RSI which has recently broken it's TL.












Now looking at the daily chart we can see that the past few months price has simply been consolidating. We also know that usually after a long consolidation, comes a big move. So is this the end of the ranging period? We can see that price has broken below the VI, suggesting the bears are starting to take back control. But we would need more confirmation than just that - we still have the previous low/S zone to break and as SM swing traders we would want to see price breakthrough this area before any action is taken.













But price could simply bounce back up and continue with the ranging pattern, or we may see further strength to the down side. Should this happen, be sure to use ESLT on the BOB to avoid any FBO's. Most importantly, wait for the market to make it's move - there's no room for second guessing in successful trading!

Please ensure you carry out your own analysis.

Here's to great trading!

Sonia Molina

Million Pound Homes

Good morning dynamic traders,

I wanted to do an update early today but instead we have spent the morning looking around one of the most exclusive areas in the country. Homes from a starting price of $4m and we even had a glance at a £12m house which was out of this world. Going back to look further next week.

So, what has happened on the markets. Well, the EURUSD and GBPUSD climbed it's way up yesterday and so far today the GBPUSD has given back half it's gains. The Euro is some what undecided at present.

The USDCAD moved further down yesterday and is in negative territory today too.

The Dow and S&P 500 are in proximity of resistance so watching these indices short term will be interesting. Will a breakout occur? If so will it be false? We shall have to wait and see I think.

A quick word onFinn, a new trader from the beginning of this year. Finn's trading seems to be going very well by making a profit on all of his first positions. Congratulations and well done Finn.

We have received a few emails from the members and would like to say thank you for them regarding the trades taken and the big profits accumulated.


Good trading.


Javid Shaik
Forex Analyst

Cable pullback

Good Evening Dynamic Traders,

Hope you are having a good trading week. Today the pick of the charts is the Cable.

The Cable has been trending up nicely recently and providing good profits. There appears to be strength available in the trend up and therefore it looks likely to continue. That said, no one knows what is going to happen and therefore the smart money must be prepared for alternative eventualities.

The chart pattern in the 240 chart below suggests a potential double top. Given that resistance is on the horizon (note the figure) it would not be unusual to expect a pullback. Therefore if you are already long in the trade, protect your profits by tightening your stops. If not in any position, one should wait patiently for the pullback and a good entry to go long in order to trade with the trend.
















Wishing you a fantastic weekend.
Good Trading!
Bijal Shah


www.fxcps.co.uk
www.fxcps.eu
www.dynamictraderblog.com

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Currency Trends

Good morning traders,

I wanted to give you an update on the latest forex trends before going into the long weekend so you are all prepared in advance for next week and also todays pivot points. I also wanted to share with you some comments from an email I received from Sonia regarding her trading.

Sonia has recently been through the forex webinars and subsequently sent in an email informing us how she is doing. Last week she made money on all her trades execept one. The risk management has given her more clarity and confidence and fibonacci has provided her a great way of using ESLT. Sonia has also encountered great success with Double Deviation like so many others. Enjoy your weekend Sonia and good trading to you and all of your colleagues for the future.





At the time of writing this update, the daily GBPUSD (chart below) has moved up over 150 pips and is attempting to retest the big figure. This will most likely provide an opportunity soon so look out for a trade set up.


Chart courtesy of Advanced Get. Data provided by eSignal.

Good trading.

Javid Shaik
Forex Analyst

Cable deliberation

Dear Dynamic Traders,

Hope you had an outstanding weekend.

Today's post consists of Cable analysis. Price has been up to test the 1.500 number, has found resistance and has retreated back downwards again. Looking at the lower timeframes a squeeze is apparent. Price has retraced to a Fib breather level but has been unable to breach it. Taking lead from the higher timeframe trends would enable consideration of a potential bearish flag should price break through the trendline.














My next post will be on Wednesday evening.

Great Trading!
Bijal Shah

Cable Contemplation

Good Morning Dynamic Traders!

The Cable conclusively shattered the value index in October last year, for the first time in over five years!

We have been witnessing a fortified downtrend since November 2007, which is not displaying definitive signs of ceasing just yet.

The monthly chart below displays an objective outlook, which may offer some clue of approaching directive.

Notice price seated at a stalwart and historical support, last thumped in mid 2001, but conquered, (with mighty vengeance), twenty four years ago, in 1985!


GBPUSD monthly chart Advanced Get

Below is the daily chart for the same.

Price is currently negotiating a sturdy support, whilst the wedge formation forces an impending squeeze towards this intimidating territory.

The trend remains indisputably earthward supported by the ferocious fundamental and unprecedented weakness in the market!

Advanced Dynamic Traders are subconsciously aware of the truth of probability.

With the many unknown forces operating in the market, anything can happen.

Utilising your tools of the trade and more importantly, your risk management regime, determine your edge, and 'go with the flow'.

Be wary...... volatility may be upon us with US news published later today, followed by Governor King's 'after dinner' speech!

GBP USD daily chart Advanced Get

Special regard and recognition to Clayton Farnworth for his relentless determination and his decisive victory!

Not only did he conquer the climb and reach the summit thereby becoming a full time trader, he had to swim the Channel first and master the use of a computer.

An extraordinary encounter and an inspiration to us all!

Hearty congratulations Clayton!

My notes will be temporarily ceasing from hereon, while I attend to important financial and administrative procedures associated with business closure.

Without a 'traders mindset', it will be challenging to barter bountifully and thereby provide you with prime posts.

The supreme blogs offered by the brilliant Bijal and the chief mentions at the sister sites, will continue to offer you varied opportunities and champion choices.

Successful Trading!

Saba Jackson

One for the watchlist

Good evening Dynamic Traders,


Congratulations to those of you that managed to scoop up some nice profits today. The Sterling showed a good amount of weakness and provided lots of opportunity. The GBPCHF mentioned yesterday produced a movement of 440 pips.


I have posted the Cable chart below from the daily timeframe. The set up is not quite ready yet but one to keep on the watchlist if it is not already. Price has broken through the triangle to show a potential continuation down and restest of the previous low. However, it is heading towards a key Fib reversal level and therefore the conservative traders out there may wish to wait until it moves past it before entering the trade.














Good Trading!
Bijal Shah

Cable Squeeze

Dear Dynamic Traders,

Yet another day of large movements across many pairs. Well done to those of you dynamic traders who are making the most of the opportunities presented by the markets.

The Cable chart below has moved in excess of 400 pips today. Its been in consolidation for some time now. A squeeze formation is apparent and a slight breakout was witnessed today. Aggressive traders may already be triggered into a trade. Although a likely breakdown may be expected ("no one knows what is going to happen next"), further confluences including a BOB are required for my entry trading rules to be met.

Note high volatility news out tomorrow affecting this pair.













Fortunate Trading!
Bijal Shah

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Cable descent?

Howdy Dynamic Traders,

Below is the 4 hour Cable chart. Price reached the 1.44 mark and tested previous support which has now turned into resistance. However, it failed to break up and produced a reversal candle. If the pound does not muster up enough momentum, it may well resume its downtrend. MACD has been showing divergence for several candles now. Note other confluence of events highlighted on the chart.














Question 10
What don't I see?

I hope these questions bring you a step closer to get to your goals. Have an awesome weekend.
My next update will be on Tuesday evening.

Good trading!
Bijal Shah

Will it, will it not?

Good Evening Dynamic Traders,

Congratulations to Hina for winning the competition, very well analysed :o)!

My apologies for not updating last evening, after attempting to do my daily homework last night for a period of time, I found myself to not be in the correct frame of mind so had to walk away from the laptop. We all have these times and its best to avoid trading as it is the time most mistakes tend to happen usually by either seeing things that are not there or just being reckless.

On Sunday night's update I spoke to the EURUSD, price has not found it difficult to penetrate the strong support highlighted on the daily chart and has also infiltrated the golden mean. It is now heading towards the key Fib reveral areas though before it gets there, it may see some drama by way of slowing down or pullback at the 1.300 area. Trade management will be key to profit preservation.

The Cable has been in consolidation/range bound for a period of time. The price is again heading towards a level which has proved to be good solid support. Price has tried on at least 3 different occassions to breach it but has failed and retraced and looks to test it again. One to keep a close eye on for opportunity when the time is right either way. Please do your own analysis and apply the precious filters available to you that aid safer trading.














Question 2
Will this behaviour move towards what I want or am I settling?


Good Trading!
Bijal Shah

Cable

Good Evening DT's,

The GBPCHF did a fake breakout yesterday and then proceeded south. This highlights the importance of employing the filters introduced by our mentors to help preserve trading capital.

The interest rate decision had a positive impact on the Cable moving it around 360 pips up. The Cable is a pair that I like to keep an eye on so here comes the analysis on it:

Strong support can be witnessed clearly on the weekly Cable chart. MACD has been making higher lows while price has been making lower lows thereby providing convergence.

A further breakdown with guidance from the daily chart shows that price has been range bound since the middle of November. Price has rallied over the last 4 days but is fast approaching the resistance zone. Price would have to break resistance for the swing trader to consider a longer term position. Will price continue up or will it head back down towards support? Some clue may be ascertained from the 4 hour chart.

What indicators are available to determine price action on the 4 hour chart?MACD is showing divergence; and more importantlyPrice is approaching a key Fib reversal level

So what's the verdict?
No one knows what is going to happen next, and you don't need to know in order to be a winning trader (Mark Douglas). Given the importance Fib plays, wait for the reversal signals to enter the trade. Conversely if resistance gets broken await the BOB and take what the market offers with ESLT and risk management.

Big news item day with NFP, GBP and CAD news.

Good Trading
Bijal Shah

Merry Christmas

Morning forex traders.

I hope you all have been picking up the pips with the excellent moves from the markets. As previously mentioned on the webinar, the GBPUSD was bullish and has shown that recently.

Saba, Bijal, John, Clay and Jagir (currently awol), thank you all for your hard effort and time to help all the readers of the dynamic trader blogs by posting your trade set ups and forex analysis.

From everyone here, Happy Holidays to all our readers and hope you have a Prosperous New Year.

Since yesterday we have had the Nissan GTR imported from Japan and have been speedily clocking miles up on it sometimes with fear. The GTR has not been released here in the UK yet so it was fun to have this for 48 hours play time. Anne has written more about it on her forex blog.





Happy 4Xmas.

Javid Shaik
Forex Analyst

Cable rules

Hello Dynamic Traders,

A warm welcome back to Saba, there is still a wanted order out on Jagir...

What an interesting Monday its turned out to be, hope you were able to take advantage of the opportunity the market provided today. I managed to scoop up just over 200 pips on the Cable breakout out of a phenominal 459 ish available pips and around 100 pips on the EURGBP.


I have posted the Cable chart again today because it looks interesting. Suddenly this pair looks bullish after many days of consolidation. It has hardly had any pullback on its way up. I have uploaded a 30 minute chart which shows a potential bullish flag formation. The pullback has not reached the usual Fib breather level before it decided to head north again. Keep in mind the S & R in addition to the 4 hour chart which shows a potentially different picture (123886). As always please do your own analysis, wait for the set up and then don't be afraid to receive what the market provides.


Tomorrow is the biggest day this week for news items including interest rates so please take this into account when trading particularly for the short term traders amongst yourselves.














Festive Trading
Bijal Shah


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Cable squeeze

Dear Dynamic Traders,

Welcome to week 51 of 2008. Hope you all had a fulfilling weekend.
Clayton has talked about the USDCHF and I am going to talk about the 2nd musketeer, the Cable.
The 240 chart posted below shows a squeeze formation. There is close proximity to a strong figure. Normally the pair works conversely to the USDCHF. Wait for a BOB and employ the filter technique to avoid a FB-O.














Good trading
Bijal Shah

"When I let go of what I am, I become what I might be."
Lao Tsu

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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

Forex News

Good morning forex traders and thank you Bijal for your forex analysis update today.

The GBPUSD made a good 200 pips profit yesterday with our Dynamic Trader 3D strategy. Well done if you took this trade.

Please be aware there is a few news items due out today so ensure you trade with management. As four of the news items are likely to produce volatility, caution is certainly advised.

I am catching up with as many emails as I can from almost two weeks ago and will be replying to them over the coming week. If by the end of next weekend you have not had a reply then please forward your original email to me.

Good dynamic trading...

Javid Shaik
Forex Analyst

400 Pips with 3D on GBPUSD

Good morning forex traders.

Unfortunately due to a commitment yesterday I was unable to take the trade on the GBPUSD using 3D but those who took the trade will be smiling away with over 400 pips credited into their accounts. $4000 dollars for a days work based on a 5 minute analysis and very low risk is good reason to be cheerful.

If you are following us on Twitter then you may have decided to take the USDCHF mentioned about an hour ago which I am now managing and again for all of 30 seconds to identify the set up the rewards are good although not as spectacular as yesterdays.

I also wanted to inform you all that finally we will be having the long awaited updates from Bijal Shah. As of tomorrow Bijal will grace this website with daily updates of her analysis.

Until Bijal's forex analysis tomorrow, good dynamic trading...

Javid Shaik
Forex Analyst

The "Win Win" Mindset

Good Morning Dynamic Traders!

Many view "trading" as a game in which there is a clear loser and a clear winner.
Your analysis is either "right" or "wrong". The "right" reaping a profit and the "wrong" incurring a loss.

I believe that successful traders see only one option. Having the ability to gather consistent profits and gracefully accept nominal losses, regardless of a market betrayal, puts them in a "win win" position each and every time.

These winners will have planned a suitable entry point, calculated a minimal loss, and foreseen a potential profit - all BEFORE pulling the trigger. The result is evident! A well deserved reward or if the market jilts the analysis, either the trade is not triggered,or a small loss is accepted.

Create your own personal "win win" trading plan today!

Cable Review

Below is the 4 hour chart for the GBPUSD.

GBPUSD 4 hour chart Advanced Get

This pair rallied beautifully yesterday and early this morning to produce a very healthy harvest! (BLOG 29 OCT)
Recognise - the crop is only secure when gathered in a timely manner.

Dynamic traders should be managing their rewards carefully to ensure profits are protected.
Remaining positions should now be risk free exposing another "win win" scenario.

I will be guarding this pair in anticipation of a further rally towards the figure.
The market will undoubtedly tell it's own story.

A "winning" day to you!
Saba Jackson

The Cable Crusade

Good Morning Dynamic Traders!

The pound has been losing it's battle against the Dollar since July this year.

Yesterday we saw a courageous advance, bullishly displaying a healthy reversal candle by close of play. This could signify a temporary end to the bold buck, which has dominated numerous currency battlefields during the last few weeks.

Below is the daily chart for the GBPUSD.

Having participated in the cable decline last week, my positions are ready to speculate a "cable crusade" towards a healthy resistance and fib cluster area.

Dynamic Traders may also benefit by seeking intelligence from the remaining two musketeers!

Take heed of news items due out this morning!

GBPUSD daily chart Advanced Get

Good Trading!

Saba Jackson

ABC correction (123 Bottom??)

Good evening Dynamic Traders,

I put an order in this morning for the EURGBP as we had a breather at the 50% Ret with a tweaser candle stick reversal. I was entered on a swing high on a smaller time frame. This is one still to keep an eye on for further potential set ups.














EURGBP forex chart from Advanced Get

I've recently done my analysis on the GBPUSD and I've just put in an order to go long on a 1 BH (Very tight stop) as we have what looks like a 123 bottom at an 886 or for those of you who use Elliott waves an ABC correction which has pulled back to the 886. Note the MACD convergence with the other confluence of events.
This potentially could be a very good trade but as always I'm only risking 3% no matter how good the set up looks.














GBPUSD forex chart from Advanced Get

Read our other forex blog here.

Good trading.

The "Big Breather"

Good Morning Dynamic Traders!

During my earlier trading days, I would experience immense frustration when the market challenged my analysis! This happened more often than not and indeed still does!
After many months of hurling blame on all and sundry, followed by a period of deep hibernation (the big breather), I awoke to discover the "value" of these experiences.

I cannot stress enough the importance of examining your trades - be they favourable or otherwise. Analysing a potential trade before taking your position is material, but studying the same after your trade is complete, is crucial to your trading success.

View your"big breathers" as a creative opportunity to do just this and learn from the knowledge you gain.

CURRENCY REVIEWS

1.USD JPY
The weekly chart shows that the figure 100 is proving to be a stubborn support refusing to break and close below the long term trend line (blog -14 Oct)

Below is the 4 hour chart
After last week's initial decline, price found a new resistance at a meaningful fib level early this morning and is, so far, abiding by the123 top analysis.
The Oscillator also suggests a nice set up for a wave 5 continuation.
But as always - confluence your events!


USDJPY 4 hour chart Advanced Get

2. GBPUSD
Yesterday the Cable presented us with an eventful spectacle. Volatile news confirmed momentum to the downside (blog -15 Oct) and indeed further weakness may be found.
However, both the daily (below) and weekly charts indicate a reversal may be due in the not so distant future.
With governer King announcing today, I am content to sit on the "support" fence until a convincing set up materialises.


GBPUSD Daily chart Advanced Get

My next update will be on Thursday morning.

Happy trading to you!

Saba Jackson

Bouncing Cable Cars

Good morning Dynamic Traders

The GBPUSD has been merrily downtrending since November 2007 and more recently since July this year.

The daily chart reveals that it has recently bounced off a noteworthy support level just above the figure 17000, which tallies with a predictable wave 5 fib extension.
But are we just experiencing a breather?

The 4 hour chart below shows that price is presently a little nervous. The support and resistance lines are nicely containing the miniature bounces, but at some point it will decide which way to go.

My analysis reveals that price is keen to head downwards towards a wave 5, but there may be a possibility of price testing the fib resistance at 17730 beforehand.

The UK and US news due out today is clearly contributing to the indecision, but once released, should also give rise to a meaningful move.

Remember to apply your ESLT rules diligently before taking your positions!

GBPUSD 4 hour chart Advanced Get

Enjoy the ride!

Saba Jackson

Sterling Decline

Good morning dynamic traders.

The Pound Dollar has been on the decline since November 9th 2007. After good support at 1.93 region had been breached in August 2008 this pair continued it's downtrend.

Currently GBPUSD is trading at 1.74 zone and entered into the sell zone on Monday with the next major support level at the 1.70 area. This will be a key area to watch as a breach of this will see further declines. However, if this pair levels off here then look for a 123 set up. If we do not see a break of support then we will probably be in indecision territory and the next hand being dealt is likely to be one of consolidation. The rate decision on Thursday will be a big factor for the direction of Sterling Dollar.

Dollar hits 6 month low against the Yen on Monday but gained against the European currencies. Concerns are increasing over the finanical system in the UK. Here's a good luck bull for the markets.



A few news releases for Tuesday you should be aware of:

UK Manufacturing
President Trichet
President Bernanke
FOMC Minutes
Australian Home Loans

Anne and I would like to congratulate SJ on her trading since completing our mentoring webinars. My understanding is SJ has persistenly and stubbornly followed our strategies without deviation and as a result she is achieving her consistency. Well done!

Lastly, since the last two weeks our inbox has collected over 1300 emails and it will take us a few days to go through them all. Those awaiting a reply please be patient and we will reply to everyone in turn. Should you not have recieved a reply by the end of this week then please resend your email as it may have found it's way into our spam folder.

Anne's Dynamic Trader Blog

Good trading...

Forex Analyst
Javid Shaik

Manage your trade

I mentioned an ABC set up on the GBPUSD just over a week ago and since then it has moved up around 900 pips. I actually missed entering this trade but for those of you that did you should have been adjusting your stops locking more profit as the market moved up. The price has now come into proximity to the figure 18600 with MACD divergence on multiple time frames and also some fib levels on the larger time frames. If I was in this trade I would now look to tighten my stops according to my trade plan.

GBPUSD forex chart from Advanced Get
Good trading

Parallel Pairs

Last week I mentioned inverse currencies, you should also be aware of parallel currencies, these are currencies which move in a similar fashion.

A good example would be the EURUSD and GBPUSD.

We've had a pull back on the EURUSD smaller time frame but its beyond the typical breather level. So I had a look at its parallel pair (GBPUSD) and its has also pulled back but at the 50% breather level with a good candle stick reversal (on 60 min chart). This is one to keep an eye on for a potential long trade set up but use your risk management etc as normal.

GBPUSD forex chart from Advanced Get

Good trading

Missed The Overnight Trade

Good morning dynamic traders. As you know from previous forex analysis, I have been waiting for a set up on the AUDJPY for a short and last night we had it. For those that have been trading for a while you will know trading does not always go to plan and last night was one of those times.

I had placed an order to go short based on my trading model at just over the 96 figure and this morning the AUDJPY has travelled down over 150 pips at the time of writing this. Unfortunately my position did trigger and was missed by only 1 pip. When I checked the chart this morning I was very pleased to see the decline on the AUDJPY cross until that is I opened up my trading platform and saw my position had not been tagged.

So, looking at the AUDJPY the trendline has now been broken and the price is likely to go to the 94.00 mark. If it continues beyond that then 93.00 zone is likely to be the next target.

If any of the forex traders I trained reading this are in this trade then I suggest you should look to manage the trade.


AUDJPY forex chart from Advanced Get.

The Euro has found little strength and although bounced, it is clear the money that has been in this so far is the dumb money. The smart money have not started buying this pair yet. If the smart money get involved with this then 1.5000 - 1.5200 zone could be their target.

My forex analysis on August 13th which you can read here suggested the GBPUSD could find support at the 1.85 zone and sure enough it did. The support has produced a minor bounce from a larger perspective and a big bounce from an intra day perspective. If the bounce continues then near term resistance will be at the 1.8750 level.

Today's Dynamic Trader Toolkit pivot points are below.



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Good trading.

Forex Analyst
Javid Shaik

Majors Reverse

Good morning forex traders. Most of the majors have reversed and gave the reversal signal with a candlestick yesterday.

Further bad Japanese data is fueling the concern that Japan is heading for a recession. We must not forget that the US concerns for a recession is still very much a focus. The sub prime mortage crisis overshadowed the US Trade deficit.

The very oversold Euro has shown a degree of strength with some buying after the technicals showed a reversal. Yesterday this pair sank further and if aggressive traders are looking for long positions here then look for an entry that requires minimal stops. Remember, although this pair is oversold it is still against the trend.

The Sterling is not looking too healthy. It's recent collapse of the trend line and support level on the weekly time frame could be a fake breakout but needs to be watched for a possible further decline in the near future. Convergence is prominent but this might suggest only a minor pullback. If the pair continues to decline then the next big support zone is 1.8500.



Source: ESignal. Weekly Pound Dollar Advanced Get Chart.

The Dollar Index may help with the confirmation of the Euro and the other majors reversals. The weekly forex chart below shows the Index in a long term downtrend with a reversal to the resistance trendline.


Source: ESignal. Weekly Advanced Get Dollar Index Chart.

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Below is todays pivot points for the major currencies.


Source: Dynamic Trader Forex Toolkit.


Good trading.

Forex Analyst
Javid Shaik

UK Bank To Announce Losses

Good morning Dynamic Traders.

The better than expected NFP sent the Dollar higher against some majors on Friday.

The Strerling has dived against the Dollar at the open of the European session this morning based on rumours that a major bank is due to announce a big loss here in the UK. The Dollar is fairly steady at this point against the other currencies. At the time of this update the Cable is at session lows.

The daily Euro Swissy is in a triangle formation below. There is a set up here that is likely to make some good profits.


Advanced Get chart. Data from ESignal. Read more...

Look out for US ISM and the Fed's rate decision tomorrow and on Thursday's the BoE rate decision. These will be market movers and volatility will be high.

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Today's pivots are courtesy of Ash Shah.

Good trading.

Forex Analyst
Javid Shaik

Pound Support

Good morning Dynamic Traders and welcome to another exciting week of forex trading.

I was triggered into the Pound Yen trade overnight and this morning have managed my position. At the tme of writing this the cross is sitting on the support level at the 214 zone. A breakdown could see a further downward move.

The Pound Dollar chart shows price at the trendline support level. This is an important level where price can either continue it's downward track or bounce. Watch the Euro regarding this for confirmation.


Advanced Get charts with eSignal data.

Below is a weekly chart of the Euro Dollar to show you what the uptrend looks like on this pair and where previous congestion levels are which is not dissimilar to where we are now. Now I want to make it clear, I am not saying this is a sure fire rectangle chart pattern for a move up but going by history we are in exactly the same position at the figure as we have been previously at other big figures. A breakdown here would bring weakness into the mix but until then it is time to stand aside for swing traders.



Weekly Euro Dollar Advanced Get Chart.

Our webinar Dynamic Traders should have traded the USDCHF this morning. Our previous USDCHF forex chart can be seen here and based on one of the strategies we shared with you on our webinars you will be well into profit with a risk reward of 1:5 at least. This was a text book set up and an easy trade to take profits from.

Good trading.

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Forex Analyst
Javid Shaik

Euro Analysis

Euro fell against the Dollar for a 12 day low yesterday. This pair is currently choppy and so if trading this at present should be done with caution.

The Euro forex analysis still shows a medium term bullish outlook and nothing has changed even though some people feel very nervous about the Euro upside. This is where the smart money differs from the dumb money. My confirmation of a change of direction is only when our system has defined it for us. Until then we stand aside and wait for the market to tip our hand.

Yesterdays EURUSD FX analysis stated to be aware of 123 786 and soon after the market failed the retest.

The GBPUSD found support at 1.9900 zone and bounced. Again we see it has poked it's head just above the 2.0000 resistance and currently trading at 2.0005 up almost 100 pips since the open of today.

Previous webinar attendees should place USDJPY into the watchlist utilizing one of the strategies we have shared with you at the appropriate time.

Good trading.

Forex Analysts
Anne Chapman & Javid Shaik

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