Roller Coaster ride Continues Down

Morning Dynamics Traders!!

Yesterday I finished my update asking 2 questions, which I will answer now! Price did manage to break through the resistance line on the hour chart, but 2 hours later price dropped below again and the MACD made us aware of this with slight divergence.
It is still too early to see whether price will use the support line on the daily chart as a spring board or not, so we will have to wait a couple more days to see what happens next.

Have a great weekend

Happy Trading

Richard Monnery

The "SHORT EASTER" Cable ride

Good evening ladies and gentlemen

Hope you all had a great day in the market. There was a lot of news out today so I hope you traded with caution. I put in a couple of successful trades in the morning and that was it for the rest of the day.

Our girl for the week, the GBP was not one for the reason mentioned above. However, lets have a look at what she did today. On the daily price produced a small bearish doji with a range of 200 pips. It is still being held by a S and R line but RSI and Stochastics are starting to look interesting. Can we expect further moves south or will the support hold strong?

On the 4 hour, price is doing a DB at the Fib Breather level mentioned on Tuesday and has produced an interesting candle at the moment. So what does the future hold, only time will tell and the SM will be ready and waiting.

So as always lets have a closer look at today's play. If you chose to go in you would actually have been rewarded with a nice handful of pips. Our confluences of MACD divergence, 123886, a doji and not too far off from a RN were all present to jump in for another profitable "Short" ride, to take some of the 200 pips on offer.




This major pair is always on my watch list so I will be keeping a close eye on this next week. What will she do next? I can't tell you but like all SM traders, we do our own analysis and stay ready for what the market has to offer.

Yea not a good night Rich! The boys just did not turn up! It's a tall order to turn it round at Stamford Bridge but anything is possible. You are a Spurs right??

Spot on with your answer to the riddle and yes Mr Ali was always full of great lyrics.

I am going to leave your riddle for people to think over for the Easter weekend. I will be stayng out till Monday! A long weekend!!! Yeahhhhh!! 4 days away from trading!!! AAhhhhhhhh!!!!

My riddle for the weekend is "Twenty years from now you will be more _____ with the things you ____ than the things you _____!"

I bid all you a wonderful Easter break!! In true English style, the weather has taken a turn for the worse as the long weekend is upon us!!!! Lets hope it brightens up tomorrow!! NO sun! No trading!! Oh the pain!

Don't forget to leave me some of your eggs!

Till Tuesday

Abundance is your Birth Right

Zaheer Anwari

What’s Holding Price Back from Falling??

Morning Dynamic Traders

It’s not a particularly good start to the day whether wise, doesn’t mean our trading has to start the same way though!!

Yesterday price did increase and from the hour chart below you can see price climbed straight after the convergence. Price didn’t climb very far though and failed at a resistance line, which was previously the support line that price had tagged twice before breaking through a couple of days ago! If you look to the side you will also see that this S/R line is at a RN.

If we look at the daily chart below you will see that price stopped falling at a RN, which happens to be support area.

The roller coaster ride for the EURGBP is still going as price this morning seems to be getting stronger, and yet on the daily chart we are in a down trend. RSI however on the daily chart is showing signs of getting stronger also!
Will price be able to break through the resistance line on the hour chart??
Will price use the support line on the daily chart and start to climb??
Found out on tomorrows update!!

Happy Trading

Richard Monnery

The "UNCERTAIN" Cable ride

Good evening ladies and gentlemen

I hope you all had a wonderful day in the market and through your own analysis managed to obtain plenty of SM pips.

So lets see what our girl, the cable did today and from the daily we can see another small indecision candle today. There was very little movement with price today ranging between 14740 and 14640 before settling at the RN by the final whistle to signal the end of today's play.

The inicators are looking interesting with the Stochastics signal line and also MACD making LH.

However, as always the SM will always be eagled eyed and ready for a set up that may occur and we were presented with one such opportunity to take some of the pips on offer. Below is the 5 minute chart. We can see that Price and MACD converged through the night and slightly on from the opening whistle of play, formed a 123886 with a reversal candlestick before shooting up. As always the SM would have seen the DT and managed accordingly to lock in maximum profits.

So what does this hold for tomorrow? At the moment Price is being held in a R Zone. Your own analysis could determine what could happen next!

Alright Rich! No I am a Liverpool fan! You? Chelsea I am guessing?? If so tonight should be interesting!!

A double decker bus!! That sounds awesome!! On the top deck looking down shooting at people!!

Spot on with the answer. My INTEREST is in the future because I am going to spend the rest of my LIFE there. Amazing quote as that is where we are heading my friend!! And it looks very bright indeed!

The answer to your quote is "Nobody can predict the future but it is worth trying to influence the direction." Great quote and personally I think one of the biggest stresses in life is not having a goal to focus on!! Good one mate!!

My riddle for today was said by the "World's greatest". He floated like a butterfly and stung like a bee!

"It's lack of faith that makes people afraid of meeitng challenges, and I _____ ____ _____!"

Till Tomorrow

Abundance is your Birth Right

Zaheer Anwari

Price continued to fall!!

Good Morning Dynamic Traders

Half way through the week and I hope your all having a good one!

Yesterday I asked would price continue to fall or will it use the S/R line to find strength. Yesterday price continued fall and broke through the support line. In the hour chart below I have marked out the Support line and you will notice that price tagged the line twice. When the RSI dropped below 50 you will see this was when price began its decent which broke through the support line.














As I am writing this update price looks like it is finding some strength! In the hour chart above I have marked out convergence from the MACD, which helps to explain price getting stronger.

However with the trend being down on the larger time frames, will they force price down further?

Look forward to tomorrow

Happy Trading

Richard Monnery

The "LONG" Cable ride

Good evening ladies and gentlemen

I hope you had a wonderful and profitable day in the market. I am sure it was mechanical and your emotions were as non existent as hot English summer!?!?

So lets see what our girl, the Cable did today. If you were shorting from yesterday you would have probably tightened your stops at some point this morning if you hadn't got stopped out already. Yesterday's bar on the daily retraced slightly from a hanging man to a spinning top and today's bar looks like finishing on a possible doji. What are the other indicators saying? Stochastics is well OB and the signal lines have crossed over but is MACD following the price or giving the same signal at Stochastics? I will leave it for you to decide.

Below is the 4 hour chart and shows a perfect opportunity to go take the "Long" Cable ride if you chose to take it. She has been on a steady rise from 12pm on the 30th of March after the appearance of a reversal candlestick and eventually ran out of steam at the RN. Those of you who took the "Short" cable ride from yesterday would have spotted the SM setup on the smaller time frames at this RN making a healthy profit before being stopped out last night or this morning.

Now, from today, can you see

1. The R turned S line?

2. The fib breather level?

3. What did RSI and Stochastics signal?

If you had seen the above confluences and purchased your SM ticket, with careful management you would be singing to the tune of a possible 100 to 150 pips.

Yeah I was having a great weekend Rich until Man Utd won on Sunday!! I have been to Delta Force in Hertfordshire. It was fantastic mate! Did they have the course with the helicopter and you got to protect your squadron leader and at the same time get the flag on the enemy side? It's amazing how tactical and serious you take it! I reckon we should do a DT Team trip!?

Man spot on with your answer!! I guess that riddle was meant to remind you of the people who you should have around you! Sometimes you know you have the ability and the desire to go for something but just need a little positive push along the way! I guess it reminds me of my cousin and how he got me into trading!!

Your riddle is simple but oh so relevant to trading! Good choice sir! Practise makes perfect!

My riddle for today is "My ____ is in the future because I am going to spend the rest of my ____ there!"

Till Tomorrow

Abundance is your Birth Right

Zaheer Anwari

New Currency to follow

Morning Dynamic Traders

This week I have decided to follow the EURGBP. This pair has had quite a roller-coaster ride since the beginning of this year. We are currently in a Down Trend on the daily chart, but price isn’t dropping as aggressively as it has been earlier in the year.

The hour chart below helps to explain what I mean by this. You can see quite clearly where price has taken a breather. In between every breather price had then dropped a lot until Friday where price has had to work harder to fall i.e. price is beginning to slow down.















Why is price slowing down I hear you ask? If you look at the day chart below you will see that price is currently being held at a S/R line.













We have to wait and be patient to see what happens next. Will price use the S/R line and bounce back up or will it continue to fall!

Find out on tomorrows update to see what events occur today!!

Happy Trading

Richard Monnery

The "SHORT" Cable ride

(I apologise for the delay... this was supposed to go up yesterday evening!)

Good evening ladies and gentlemen

I hope you all had a wonderful weekend where ever you are in the world. It's Monday guys!!!! Hoorrraaayyy!!!! Another wondeful week ahead so lets get the party started!!

So there were a lot of interesting moves today and I hope you all managed to get some of what was on offer and still leave some for your brethren. Today I have chosen to look at the Cable and she was very generous to the people who chose to purchase their ticket for the "short" ride!

On the daily chart, she is being held by the S and R line and the RN with todays bar possibly closing as a hanging man. What are the other indicators saying and do we have the confluences yet for a possible shorting opportunity for the swing traders? Always do your own analysis!

So as always lets take a closer look at today's play and where one could have finished with a nice handful of pips. As always, I looked for my favourite confluence of events which you should know by now includes the Divergence on MACD, 123886, a significant candlestick and proximity to a RN. Price then oscillated for a fair period before finally taking the journey short to the tune of around 250 pips!! Thank you very much! I hope you all managed or are managing the trade well! If you missed this opportunity, do not stress or be disappointed as there will be and are always other opportunities!! As SM we always know that! Trading has to be 100% Mechanical and completely without emotions. If you bagged a nice handful today, go scream and shout, go hug your neighbour, go eat a whole pot of your favourite Hagan Das (Strawberry Cheesecake!!), do what you have to do. Just be ready for the same unemotional mechanical approah tomorrow!!






After ever big move there is always a breather! Should we expect that now or will she continue short? Only time will tell and the SM Day Walker will be ready and waiting!

Hope you are doing well Richard and had a grand weekend! Paintballing is loads of fun and the bruises are all worth it! It's the ones that hit the inside leg are the killer!! Which course you go to?

The answer to your riddle is "Trade with Passion"! Great one mate and so very true. The three words that should be written on your wall are "Happiness, Health and Wealth!" I think it sums up the three things that encompass life!

My riddle for today is:
"Come to the edge" he said.
"We are afraid" they said.
"Come to the edge" he said.
They came. He pushed them and ___ ___!

Till Tomorrow

Abundance is your Birth Right

Zaheer Anwari

Round up on the Yen!

Morning Dynamic Traders

Hope you all had a good weekend!! I had an awesome weekend, with a brilliant days worth of paint balling on Sunday (bruises a-side).

Time to conclude a week of following on the Yen. Last week the Yen not only beat the Value Index, but dominated it, on the daily chart. The Yen this morning has already moved a staggering amount by dropping not far from a 100pips to then climbing double the amount it dropped.
This can be seen clearly on the hour chart below. On the chart below you will also be able to see the divergence that I showed you on the 4 hour on chart last Friday.














This is indicating that a change could be on the horizon, but when? Although the hour and 4 hour charts are showing the divergence the day and the weekly charts don’t seem to be showing any signs of a reversal....Yet!!

The Yen will definitely remain on my watch list!!

Tomorrow I will chose to focus on another chart!!

Remember to always check and a butchers at our blogs:
http://www.fxcps.co.uk/
http://www.dynamictraderblog.com/
http://www.fxcps.eu/

Happy Trading

Richard Monnery