Loonie FBO

Good Morning Dynamic Traders

Unfortunately it's just a quick update from me today. The markets this morning have been quite volatile across some currencies and the pattern I'm seeing is after a period of consolidation we're seeing price attempt previous highs and lows but then retreating, possibly giving us FBO's.

The AUDJPY mentioned on Monday has broken down confirming the 123786 but is now contending with the VI support. Next week will be very interesting.

The Loonie after it's BOB of the squeeze has in fact bounced back up into the comfort of the triangle and continues up with strength this morning. Dynamic traders using ESLT would have been protected from being triggered on this FBO. So what next? The indicators are not tellling us much and with the ranging/undecided nature of this pair at the moment I'm going to wait for some definitive direction.

Have a great weekend all. At a time when the markets are showing some uncertainty, it's important to analyse your HTF's to get a big brother perspective.

Great trading!
Sonia Molina

Loonie BOB

Good Afternoon Dynamic Traders

Yesterday we saw some good movement on the markets - a pre Thanksgiving frenzy! SGD broke the low and is retesting the S as R so far today. There is always a chance of a FBO so ESLT would be a good tool for entry. EURGBP today has picked up strength and is attempting a BOB of the R. Let's see how the pair close tonight.

Back to the Loonie, last mentioned on Nov 20th, price has finally broken the squeeze down. Remember we have the possible 123786 chart pattern, the friendly trend in our favour and also ST giving us a false signal. Certainly the confluences suggest price should continue down but analysing the chart further suggests price may have a bumpy ride.
















First price needs to contend with the S/R zone which is intimidating price action. Should it successfully break this zone, bear in mind we're only a couple of hundred pips away from a major RN. Having said that we know good trends consistently break support levels and RN's. Of course price could find this all too difficult to tackle and bounce up.

This is a great example of making a judgment call on a trade. Despite reasons to not enter a trade it's important to gather your confluences, stack up the odds and make a decision on a trade in accordance with your TP and your rules. Please carry out your own analysis.

Here's to confident and emotion-free trading!
Sonia Molina

EURGBP and USDCAD update

Good Morning Dynamic Traders

The EURGBP mentioned throughout this week, has in fact found support at the strong cluster area and today price is testing the TL resistance. Could this be the end of the pullback and the start of price resuming it's current uptrend? Price still has some way to go before breaching the previous high so anything could happen between now and then, especially as we have a couple of R levels to contend with. However, the odds for a continuation up are still in our favour. My preference is to await a BOB of the next R level before entering.

















USDCAD is forcing price into a squeeze and at this point the smart thing to do is stand aside and wait for price to decide its course. We do have the possible 123786 pattern and coupling this with the trend direction odds are in our favour for a continuation south. But let's watch and wait patiently before taking any action.

















Have a wonderful weekend. Despite the grey weather outside, have fun! An attitude of gratitude will always shower your life with lots of colour.

Here's to great trading!
Sonia Molina

Loonie 123786?

Good Evening Traders

The EURAUD seems to have found some support at the RN/support level as price has been bouncing up and down today. This is common when price is faced with a psychological hurdle such as a RN - at least until either the bulls or bears take charge.

The EURGBP has continued south today with price almost tagging the VI. Now it's going to be really interesting to watch - will price bounce up at this strong support cluster to resume it's trend or will it continue with it's current bearish move? All eyes on this pair.

I wanted to talk about the Loonie this evening. Although over the past few months price has done a deeper pullback than I would have liked and the recent consolidation lasted some time, for me it's still one to keep an eye on.

I last wrote about this pair on Oct 21, where price has since continued to rally giving us what maybe a possible 123786. In an existing downtrend, this could only be a good thing for a continuation with the trend. Of course this pattern won't be confirmed until we see that BOB of the low, which is sitting in a fuzzy S/R zone. If price drops clear of this area we may well see price head south.














As always please carry out your own analysis and remember - don't ever second guess the market. No matter how much you think you might know a particular currency, nothing is definite in trading! Patience is a virtue.

Here's to SM trading!
Sonia Molina

Good Evening Dynamic Traders

Hope you're all enjoying your trading week and progressing well.

The Loonie today has tried to continue climbing up, but the candle today seems to be failing the high. As mentioned, yesterdays candle tagged a fib breather level so we may now see a continuation with the downtrend. But we won't know if this possible bearish flag formation is complete until we see a BOB of the low, so patience will be a virtue for this pair, as the market could do anything.

The EURNZD on the daily timeframe has continued to oscillate around the recently broken support level, not giving us any real definitive move as of yet. But checking in on the 1hr chart, we may have a poss 123786. For the day traders this will be a good one to keep an eye on. The MACD has just crossed the midline and the current bar is nice and bearish. We may just see a continuation down should this chart pattern come to fruition. As always carry out your own analysis and consult your toolbox of strategies and rules.
















I'll be unable to post any blogs for a few weeks now as I'll be out of the country, but you'll still have the great updates from Bijal and also insights from fellow bloggers on www.fxcps.co.uk and www.fxcps.eu.

Have a wonderful few weeks. Remember Dynamic Traders - plan those trades and always trade your plan!

Great trading to you all.
Sonia Molina

Loonie Pullback

Good Evening Dynamic Traders

Tonight let's take a look at the Loonie. As posted on 9 Oct, price gave us a BOB of the low. Some of you may be in this trade and initially would have seen some good profits as price continued south. However, in the last few days we've seen price bounce up for a breather and yesterday's bullish candle may have tested many a traders emotions. But the SM traders would most certainly expect price to retrace after a BOB - and surely what we can see is price simply retesting S as R. Price has nicely tagged a fib breather level which is also clustered with the S/R level - the figure is also in proximity . Of course we don't know what price will do next - will price use this R cluster as a springboard to continue down with the trend or will it resume to it's recent ranging nature?














What is the overall trend telling us? Take a look at Stochastics to help you. Overall, odds are in our favour for a continuation south, but let's see how price unfolds for the rest of the week. High impact news is due out on both currencies tomorrow, so we may see some volatility in price.

Please carry out your own your analysis.

Great trading to you all!
Sonia Molina

The Loonie

Good Morning Dynamic Traders

It's already Friday and what an interesting week it's been in the world of trading!

Let's take a look at the Loonie again. I had mentioned this pair almost a month ago now and price continued to be squeezed and has now finally broken down the 2 month long range/support area/10600 area.
















But what will happen now? We are still in the vicinity of the RN comfort zone and we can now see MACD converging. So could we see some further indecision/consolidation before a possible continuation down? Looking at the overall price action we can see the trend is down - despite the deep pullback in June it's still a good looking trend.

Gather your confluences and it's also worth looking at HTF's to make a fair judgment on this chart. Remember to always carry out your own trading analysis.

Enjoy your weekend!

Sonia Molina

Monday update

Dear Dynamic Traders,

Hope you all had a wonderful weekend. Here in the UK we are enjoying an extended weekend as it is a holiday today. Apologies for not posting an update yesterday, we had 3 weddings to go to this weekend which has kept us really busy and I have hardly been at home.

Below are 3 charts for discussion today, the Loonie, EURGBP and GBPJPY. I wanted to do a post on the musketeers however, there is not much other than consolidation going on on the daily timeframe so not much to report.


USDCAD
The Loonie has been in a downtrend recently, did somewhat of a larger pullback creating a double top (in a downtrend) and then continued down. Price has now come back to do a retest of previous high. It will either find resistance there (at the previous high) or will continue up to the trendline which coincides with a Fib breather level. We want to wait for price to then show signs of continuation down to trade with the trend.














The EURGBP has recently gone through a period of consolidation before price started to go up. It is now approaching a resistance level. A good one to put on the watchlist for entry on signs of break down.














The GBPJPY is one that I have not mentioned on here for a while as its not been the easiest to trade recently for trend traders on a longer timeframe. Price has broken through a support line and has tagged a Fib reversal level around a RN. I am now on the lookout for price to bounce either of a Fib reversal level or a previous support level therefore this chart is now on the watchlist.














Good Trading!
Bijal Shah

Loonie anticipation

Good Day Dynamic Traders,

Hope you are having a great weekend.
As I write this blog, there is an epic Wimbledon men's final going on and it is difficult to support one individual as they are both playing phenominal tennis and I have to give credit to their persistance and stamina. Without the psychological control neither of them would have been in the race up until now.

Today's chart is of the Loonie. Saba posted this chart around two weeks ago when price was contemplating a support line. Price has continued to hover around a similar region which happens to be a Fib breather level and has so far failed to break beyond it since the last 7 bars.

Should price manage to break up, it faces the VI and a Fib reversal resistance. Note the RN and MACD divergence in play. Time to get ready in anticipation of price providing guidance as to its next move.














Fruitful Trading!
Bijal Shah

End of Week Review

Good Evening Dynamic Traders,

Hope you all had a wonderful weekend. I thought I would take the opportunity this evening to review some of my previous posts and see how the pairs have fared.

The AUDUSD posted on 8th June projected a possible retest of previous resistance before the continuation. Price indeed did exactly that, it tagged the resistance turned support and then started its journey up producing a 400 pip opportunity on the way up.

Price is now approaching an area which it found resistance previously. It could form a double top and bounce down from it or it could break through if the bulls are stronger than the bears. For me this will be one for the watch list for re-entry once signs are more clearer of where price wants to go.














The Loonie posted on the 10th June, was a projection of a potential head and shoulders formation at the very early stages (development of the right shoulder). It did in fact continue to form the shoulder and retested the previous low. Having done that however, it went back up to re-test the high (and Fib breather level) and did not quite get there.

There are still signs of weakness in the Loonie however, it is unclear as yet whether the pullback/breather is complete before the possible continuation down. Once confirmation is available a good entry short may be sought.













The EURGBP chart posted on the 3rd June has broken through the value index and previous supports producing some nice profits for those that took the opportunity. As we all know price does not move in one direction constantly. Therefore it should be expected that price may go back and retest the support that it has recently broken through.














Good Trading!
Bijal Shah


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Will the Loonie hold?

Good Morning Dynamic Traders,

The Loonie did a small bounce up at the threat of a double bottom but there were more sellers than buyers in the market and therefore price found momentum to the downside. It has found an element of support at the VI as expected. If it breaks through the support, there are a further couple of support areas identified in the chart below.














Wish you an awesome long weekend.

Good Trading!
Bijal Shah

Loonie Flag or DB?

Dear Dynamic Traders,

Good evening. Apologies for not putting up a blog last night, I had some technical issues with eSignal and was unable to take any screenshots of charts.

It's been an interesting couple of trading days of this year already, with plenty of movement and opportunity to capture some of the action. I have analysed the Loonie for today.
The daily trend has been down since December. Price retraced to the Fib breather level and then coninued its descent further. What is in formation currently could be considered a bearish flag which would mean that there is more strength to the downside? Having said that price has reached a previous support level at around 1.18 and this could well be a double bottom.Either way further confirmation is required in order to trade this pair.

The four hour chart shows MACD convergence. Given the strong support level and previous trendline we may see some consolidation at this area before a further move down or a retracement back to previous resistance.
Wait for your confluence of events to be in line before entering the trades with the appropriate ESLT filters in place.

Profitable trading!
Bijal Shah

Loonie - Triple Top

Good Day Dynamic Traders,

Hope you all had a good weekend and are managing to get your Christmas shopping organised before the crazy rush happens closer to the festive period.

Today I have attached 2 charts of the Loonie. The daily chart suggests a potential triple top (not yet confirmed) with a lovely reversal hammer.

The 4 hour chart shows that price has bounced off the 1.3 figure and is currently at a Fib breather level. For a conservative entry south wait for confirmed break of the trendline or conversely a break of the resistance.













Good Trading

Bijal Shah

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