Double Deviation

Those of you dynamic traders who have been trading yesterday with our Double Deviation strategy would have made some astounding profits and this moning too.

Yesterday if you had traded the currencies we trade you could have walked away with over 1000 pips profit and this morning you would be waking up to 250 pips at the time of writing this.
In reality you would not have taken all the triggers given on all the trades but even a profit of 100 pips would be a good days work. I understand Bijal who some of you know fromt he webinars made a litte under 200 pips yesterday so very well done Mrs Shah.

Below is the Advanced Get Euro Dollar chart. The entry was yesterday and you can see how much further it has moved down today using Double Deviation. We have also added today's daily pivot points.

Advanced Get Euro Dollar Daily Chart.

Dynamic Trader Forex Toolkit Daily Pivot Points.


You can read more about forex trading on Anne's forex blog.

Google has produced a browser which at first glance looks quite slick. The Google browser called Google Chrome was released today and can be downloaded below.

Download Google Chrome


Good forex trading

Javid Shaik

Euro Dollar Elliott Wave A

Good morning Dynamic Traders.

The Euro Dollar weakened slightly over night on an intra day but taking a glance at the weekly chart we noticed the pair is sitting on a trend line in proximity to the figure. This may provide a bounce opportunity before a continutation to the downside.

From an Elliott Wave perspective it seems we are on Wave A with Wave B still to come.

We have UK Manufacturing PMI due out shortly this morning so stand aside.

Forex Analyst.
Anne Chapman

Advanced Get Weekly Euro Dollar Chart & Daily Pivot Points by Dynamic Trader Forex Toolkit.

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.

Send This Analysis To A Friend

Below is todays pivot points for the major currencies.


Source: Dynamic Trader Forex Toolkit.


Good trading.

Forex Analyst
Javid Shaik