The weekend rest and a small test to be the best and have a proud chest

Good evening ladies and gentlemen

Today was a day to maybe stay out of the market as I usually choose to do. Being technical traders, the smart ones amongst us would leave days of important fundamentals to the ones in the know.

So the weekend is upon us, happy times, but no trading for 2 days, booooo!!! I will miss my great friends DJ Derek Divergence, Body Popper 123886 and the rest of the crew for 2 days but will look forward to reuniting with them and getting down to business on Monday.

What I thought I would do is leave you a chart that I chose completely at random and let you do some analysis on it! What would I have looked for? Where would i have entered? How many pips would i have made? Where did we finish play at the full time whistle? It seems like most of our friends are there to party!!

The answer to the riddle as suggested by fellow JMA Richard was indeed success and was said by Malcolm S. Forbes.

The riddle for the weekend was said by a famous and inspirational war time leader:

" _____ consists of going from ______ to _____ without loss of enthusiasm!" As you have 2 days I thought I'd make it a little harder!! Answers on Monday!!

I'd just like to finish up by saying I really enjoyed my first week of updates! I hope mine and Richard's analysis helped you to understand the markets better and take profits as well! As always do your own analysis! I know it's always more rewarding when you chat some one up and succeed rather then a friend saying "My mate really fancies you"!

Have you all a great weekend and are fully recharged for more love taking on Monday.

Abundance is your Birth Right

Zaheer

How make money with the Loonie?

Morning Dynamic Traders

Yesterday the loonie tried to recover some lost ground from Wednesday, but with the way things seem to be shaping up this morning it doesn’t look good.

We did have signals of the price changing direction and moving up, which I have demonstrated in the 4 hour chart below. As you can see price came down to a Fib breather level and with the help from the RSI and Stochastics who were both showing buy signals price then increased.














Here is how you could have made money from the Loonie being in a range. With price at a strong RN and Resistance level with divergence from the MACD you should be getting ready for a short position. The short position ended when price came down to the Fib breather level. At this point we then get ready for a long position and use the BOB technique to enter for a long position. From the chart you will see that price ran out of steam when it arrived at another RN.

With the Loonie being in a range we had 2 days to make a possible 200 pips. This would have needed a lot of care and attention, but never the less very easy money as my analysis was very simple.

If you did manage to capture some profits very well done to you. I will conclude the week on the Loonie on Monday.

Hope you all have a good weekend.

Happy Trading.

Richard Monnery

Coming down the other side of Mount JPY and partying with my people!

Good evening ladies and gentlemen

Well done to those who got plenty of loving from the market today. There were a lot of interesting moves and plenty of opportunities if you used your smart money arsenal!! If not ask your self why not but remember there is always tomorrow!! Take note of any news items coming out!!!

Yesterday I looked at my ascent up Mount JPY but today the descent was just as sweet! It didn't reach as far as the RN as i had anticipated but remember trading is not an exact science! However, the appearance of several friends at the same time, including Mr Derek Divergence and Body Popper 123886 looked too appealing to not party with and boy were they on form!




Those same friends made another appearance on the CHFJPY. I never say no to another party! A smart money trader will be able to use his arsenal on different time frames as and when a smart money entry appears. My name was on several time frame guest lists but I chose to enter on the 4hr party! However, I found it easier to manage and lock in profits elsewhere!






As always to get the right loving you got to do the hard work yourself! A friend can only put in a recommendation! Always do your own analysis! Trust it and learn from it!

Well done to fellow JMA Richard and anyone else who got the answer to the riddle. It was "defeat" and was said by George Edward Woodberry.

Todays riddle was said by a well known American publisher:
"Failure is ______ if we learn from it!"
Answers tomorrow.

Abundance is your Birth Right

Zaheer

Is the Loonie starting to feel the burn?

Morning Dynamic Traders

Looking at the Loonie yesterday we can see that price had fallen back to where it began on Monday. At the end of my update yesterday I said “from looking at some of the indicators it looked like the fight was taking its toll” and I was right.
I will go through some of the signals, if you haven’t already been able to see them.

Below is the day chart. You can see that this is the 4th time that price has made an attack at the resistances line and failed. This clearly indicates the strength of this resistance line, which is also at a very strong RN. We also have MACD divergence. So far from one chart we have 3 confluences of events supporting my theory from yesterday that price would be going down.

Below is an hour chart and you can see the same MACD divergence that’s on the day chart, also on the MACD we had a sell signal, and after that came the big drop in price.

Tomorrow I will show how you could have made money on the Loonie fighting to get out of the range.

Today like everyday this week the Loonie has started strong. Will the Loonie continue to fight or will it drop further in price? I look forward to finding out tomorrow what happens today, and for our next riddle?

Happy Trading

Richard Monnery

I'm enjoying the Mount JPY climb!! Are you?

Good evening ladies and gentlemen

I hope you all had a good day in the markets and got plenty or maybe a little loving! If you didn't, learn from your mistakes as only you are accountable for them!! Most of all remember there are always other opportunities for you to get your just deserts, of course the smart money way!!

For those of you that know your geography will know that Mt Fuji is the highest peak in Japan. Imran and I climbed it to the summit in 2007 in half a day. It is not the most gruelling of climbs but still a challenge none the less. The view of the sun rise at 5am was breath taking and the rewards from any such challenge are always worth the sweat!

Some of you readers may already be in this or have this on your watch list if you had been following fellow Jedi Master Apprentice Richard's updates from last week. In comparison to the climb, the rewards from entering the JPY were much easier to come by today if you did your analysis and unleashed your love catching tools!! Knowing what we know about RN, where would you have expected the climb to reach or maybe head to looking at the current direction of trend on the daily?











Now I needed a smart money entry point and scanned the time frames till I found one. Out came the ESLT!!







Look at where we finished for the day and feel we may still have some strength in the climb before we see the sun rise we want! Of course the higher we go the more love we get the better the view!!!

If like me you are a day trader, good management is essential. You do not want to give money back to the markets that is now in your possesion but still have the balance of letting your profits run.

With yesterdays riddle, some of you like fellow Blogger Richard know the Gooner! The answer to the gap fill was of course "Trading"!

A poet once said "______ is not the worst of failures. Not to have tried is the true failure."
Answers tomorrow!

Abundance is your Birth Right

Zaheer Anwari

Loonie still up for the fight.

Good Morning Dynamic Traders.

What an interesting day the loonie had yesterday. The large red candle we were met with yesterday morning is no more, and closed 1 pip from where it started. This is showing that the price is not ready to give to up, and could be trying again to break out of the range.

Below I have used a 15 minute chart to help explain the events of Tuesday. I have marked the candle sticks for Tuesday and you can see we have divergence and convergence on the MACD (marked out in green arrows), these are indications when price changed direction.














On the hour chart below we have 5 reversal candle stick formations, which also indicate to us when price is changing direction.














Today could be an important day for the loonie to see if it does have the potential to finally break out of the range, but from looking at some of the indicators this morning is the fight taking its toll on the loonie?
Only time can tell.

Till tomorrow,

Happy Trading

Still getting down with the GBP or....?

Good morning Ladies and Gentlemen

Sorry this update had to be taken down last night as I had a technical issue.

I'd like to thank the Jedi Masters and as a mere apprentice am humbled by the warm welcome. Richard I am chuffed to be able to keep you company on here !! Lets spread the love sir!

John i hope all goes well for your friend! Stories like that certainly put things in perspective and make you appreciate what you have got that you always take for granted!!! Congratulations to SJ for reaching your milestone. It gives me motivation, and I am sure the readers, to keep on going to reach our own personal goals!

As a day trader, I look for small profits of love on a regular basis across several currencies. I always like to leave enough love for my brethren. Greed from the market usually never pays! I have found a routine, that through commitment, failures, frustrations and successes is starting to work for me. The smart money amongst us will use a confluence of weaponry within their arsenal to go on the hunt for love at the right time on the best set ups!!!

Baring this in mind lets have a look at a couple of charts. The first is of my dancing partner from yesterday, the GBP. As we know it ended the day at a RN and spent today not straying too far from this comfort zone with a small doji. However, was there any love being offered on any of the smaller time frames??

The next is of another great dance partner of mine, the CHFJPY. But was she on form yesterday?

A Wise Gooner (is that possible???!!) once said to my cousin and I "Not _______ is not an option".

Who said it and fill in the gap! Will reveal the answer tomorrow!

Abundance is your Birth Right

Zaheer Anwari

"Go on the Loonie"

Morning Dynamic Traders.

I would like to welcome Zaheer and thank him for joining me on this blog as I was beginning to get a little lonely. I hope he has as much fun doing the updates as my fellow bloggers and I do.

I have chosen to follow the USDCAD this week. I have chosen this pair because it has been in a range recently and it looked like it was about to challenge the range and breakout of it, until this morning with the arrival of a bearish candle.

Below is the daily chart, I have marked out where the range is. From looking at the chart is looks like price is trying to climb, but finding some very strong resistance at a RN.















If you had a long position open within the last 2 or 3 days, your warning signal about change in price would have come from the RN on the daily chart and divergence from the MACD on an hour chart.

If you’re now wondering, why you would have a long position on the USDCAD below I have posted daily chart again, showing the reasons for a long position. Price had come down to a fib cluster at a breather level, and the confirmation came in with a buy signal from the Stoch.














Although price is in a range it doesn’t mean that money can’t be made.

Tomorrow we will find out if price is currently chilling out before fighting the resistance again or whether price has been beaten and will fall and continue its journey in a range.

Till tomorrow,

Happy Trading.

I got down with the GBP!! Did you?

Good evening Ladies and Gentlemen

I could not even begin to think about starting my contributions without showing my eternal appreciation to Javid and Anne for the impact they have had on my life. It has been an amazing and enlightening journey to now and my future is extremely exciting. I could also not progress without saying a huge thank you to my cousin, Imran, who was brave to take the risks over the last 2 years that I would never have done. It's because of him I am now contributing to this website, something that honestly was not even a ripple in my wildest dreams a year ago. So Imran, Javid and Anne (in NO particular order), you are all a great inspiration to me and I thank you for where I am today!! I would also like to say a quick thank you to the other contributers SJ, BS, CF, JM and RM for their amazing updates. My trading day never starts without reading what you have to say and have been a great help in my improvement and understanding of the FOREX market. I am honoured to be given this opportunity to be amongst you and hope that my updates will be able help the readers in exactly the same way you have helped me.

At the moment, I am definately a day trader and feel it has given me a greater understanding of the markets. Today I made 200 pips on the GBPUSD so lets have a look at how i did that. Well done to those who managed to get some of the love on offer.

For the regular readers of the DT websites, this is one chart that should definately have been on your watch list. Jedi Master, BS, mentioned this pair on 26.02.09 with a break out of the squeeze on the daily chart. Swing traders in the know would have employed the ESLT to avoid a FB.

The smart money amongst us will always look for a confluence of events for a good entry to give our trade the beat chance of success. A perfect set up is a 123886 with a divergence on MACD! See if you can spot where I looked for my spoils on the 5 minute chart below and from there on managed my trade! What did RSI do when I went short? Again people with the right training should know the significance of round numbers and S and R lines!! Look at the price where I went short and also where we ended up at the close of the trading day! Something you may have predicted if you had done your analysis before hand!!

Whether aggressive or conservative, there is no right or wrong answer. Trade according to you own personal style! However, the most important aspect is to do, trust and learn from your own analysis!

Total Abundance is your birth right

Zaheer Anwari

A week of the Yen

Morning Dynamic Traders.

Hope you had a good weekend.

On Friday the Yen dropped in price. Below I have posted an hour chart and you can see from the chart that we have divergence on the MACD and price was close to a RN, which explains why price decided to change direction.















I’m now going to summarise the behaviour of the Yen. It’s been quite an exciting week following the Yen, partly because I had a trade open throughout the week. Last week we saw the Yen start the week with a very impressive climb. This increase in price although continued it did begin to slow, and then at the end of the week price began to look the other way and dropped, which it is currently doing now.
This was a fairly easy trade to manage as there was a steady increase in price, the signs that I spoke about on my last update were the warning signals that we should have been looking for to assist in trade management.

I hope my updates over the week on the Yen have helped you to know what to look for and how to manage a trade when a currency has decided to perform a reversal.

Tomorrow I will be following a different currency pair, to see what else we can learn.

Happy trading.