GBPAUD weakens & USDSGD update

Afternoon Dynamic Traders

I've decided to update on GBPAUD as the 'Great British Pound' seems to be losing it's greatness today! There's been no real momentum in price recently due to the post-big move consolidation. But we may see a TL bob today presenting the more aggressive trader a possible short entry. MACD divergence is also present as an additional confluence. Do carry out your own analysis to see what other confluences may be present.

















Of course price needs to contend with the support level and RN below, so my preference is a bob of this area for a continuation with the downtrend. I'll leave this one with you to decide what fits with your trading style.

USDSGD saw a very bullish day for price yesterday followed by another bullish morning - my stop was far enough to keep me in the trade. The bears seem to be taking back control this afternoon, hammering price down. How will the day end? Should we see a reversal candle this could well suggest the end of the current breather. We may even have a 123 top formation giving us yet another confluence for a continuation with the downtrend.

















Markets have definitely been quite choppy this week, with profits coming in then being taken away - but we shouldn't concern ourselves with any of that. Focus on price, focus on your management and focus on staying disciplined.

Abundant trading!
Sonia Molina

Back to the markets

Hello Dynamic Traders,

I have been away due to commitments since the beginning of the week and today getting back into the marlets.

The USDCAD is creeping below the big figure which could be traders remorse and price over shooting the mark temporarily or it could be a sustained down trend offering a continuation to the 0.9000 region. The two legged extension shows support at 1.618 and 1.0000 so it will be interesting to see what this pair decides to do. Either way, this will be worthwhile for members adding this to the watchlist and waiting for a set up using our trading tools and strategies.

USDSGD has taken a big hit today and dropped 160 pips at the time of this update and also overshot the support level but the day has not ended so watch this for a reversal. The head and shoulders formation discussed previously on the members trading room webinars provided a set up for a short trade which I know some pattern traders will have enjoyed due to the clarity of this.

I would like all members to read this mornings update and ensure you follow the points mentioned if you have not already done so.

Good dynamic trading.


Javid Shaik
Dynamic Trader