An apology

Good evening ladies and gentlemen

I hope the day was a marvelous one!

I was not able to put an update up today due to unforeseen circumstances. I will resume as normal tomorrow!

Please give me till tomorrow to answer the riddle Rich!

Till tomorrow

Abundance in your Birth Right

Zaheer Anwari

What a turn of events!!

Afternoon Dynamic Traders,

My sincere apologies for the delay in my update today!!

Zaheer your bang on mate, and I totally agree with you dude!! You guys might remember the 2 weeks when I was following the CHF and a very similar thing happened to me, where I was taken out of trade and price continued to go in my direction. In the end I missed out on 150 pips (roughly), I also decided not to jump back in and chase the trade. Like you Zaheer, if I had done I would have made more pip profit, but not chasing trades is also in my TP. I have been stung in the past for chasing trades, and I found it more stressful. It’s better to keep an eye on the markets and work out and wait for the next trade setups.

Now back to the Yen! After my update yesterday it now looks like price has now decided what it wants to do, which is to go down. You can see from the 4 hour chart below that price was just taking a breather during its descent. Its descent however has stumbled across some support, which seems to be slowing price down.

You can see from the chart above that price is currently staking another breather. This is no doubt fuelled from the support line, but price climbed up to a Fib breather level, and as you can see we have a large red candle forming. Is this going to be enough to beat the support line?? Find out tomorrow’s update.

Happy Trading

Richard Monnery

EURGBP - Has she overcome the first hurdle?

Good evening ladies and gentlemen

I hope you all had a prosperous day in the market. Something happened today that in my very early days of trading used to be a real source of emotion. Now its more of an annoyance but not something that would work me up into a real frenzy as I know there will always be other opportunities. What had happened was that I went in short on a SM money set up at the start of play this morning on the Loonie. I made my first position, moved stops to entry and then got spiked out by 1 pip on my second position missing out on a possible 200 pips so far. I would still be in this trade!! From my analysis, I was pretty confident of being in for a windfall but such was the market movement that I missed out. The point I really want to stress is that I didn't jump back in the trade. I did not chase the trade which is one of the key rules in my TP. I have learnt to take this knock on the chin, get up, and wait for the next SM set up! In this example if I had jumped back in the risk would have been worth it! However bad habits and bad money management will eventually only bring failure!!

So lets have a look at our girl for the week and see if she has managed to break through the bottom trend line. If we remember from yesterday, price did manage to penetrate but was eventually pushed back through and was held for the rest of the day. Price did not seem to be interested in having another go at the trend line today up until after a key reversal time. Below, I have the 5 min chart. A confluence of a divergance, a 123886 and a candlestick reversal at a key S and R line proved to be the perfect catalyst for price to surge towards the trend line and for the moment has also pushed through!! Did she have a Redbull? Did she have some creatine? Who knows but it sure did the trick! The question is will the trend line now act as a R line to promote a further move south? MACD looks interesting on the daily! There is still a lot for price to do before any swing trades can be considered but for us Day Walkers opportunities always present themselves. A mechanical appraoch will bring rewards!!!!

It will be very interesting to see what has happened by the start of play tomorrow! Keep watching folks!!

Alright Rich!! Spot on maestro! Yes in deed the answer is Pedro from Napolean Dynamite. That film is too funny. It's one of those films where you think not much is going on but actually it's the complete opposite. You got to watch it. And the other quote that appears on tshirts is "Vote for Pedro!"

The answer to your riddle is coincidently a kind of synonym of the answer to my gap fill "The journey of a million miles begins with one_____!" Your is footprints! Right?

Once again another example of how great minds think a like!! Ha!

Till tomorrow folks

Abundance is your Birth Right

Zaheer Anwari

Looking closer at the Yen

Good Morning Dynamic Traders,

A bright start to the day, fingers crossed it stays that way.

Yesterday we got ourselves familiar with the Yen, so now let’s take a closer look!
If you look at the day chart below price seems to be a little confused on what it would like to do.
T first glance for me, it appeared that price was taking a breather during its down trend. This is supported by price climbing towards a Fib breather level and then giving us a hammer. Price did begin to fall, but it found comfort at another Fib breather level.















I have marked the second breather on the day chart above, but it can be seen more clearly on the 4 hour chart below. In the 4 hour chart we can see that price has decided to climb, which is the reason why we have a potential doji on the day chart.













Before we can start to think of entry we need price to decide which way it wants to go. Hopefully during the today and tomorrow price would have figured out which direction it’s heading allowing us to start thinking about taking a trade.

Happy Trading

Richard Monnery

EURGBP - She's really giving it a go but will she win?

Dear ladies and gentlemen

I hope you all had a wonderful day in the market. I hope your trading is coming along nicely and everyday is full of progression or profit or ideally both.

So our girl for the week is the EURGBP and lets see how she has progressed today. Yesterday's bar had broken through the S and R zone and was approaching the bottom trend line which was causing a squeeze. Price today is having a real battle and is trying hard to break down the wall and managed to do so earlier at 3 pm. However, price soon ran out of strength with the trend line managing to push price back into the squeeze zone. This again is a waiting game and it will be interesting to see if there is any strength left in price to have another attack at the trendline through the rest of the day and over night. If this happens, the other defences mentioned yesterday still remain in the way including another S and R line I have drawn in. The MACD histogram is at the midpoint line. Will it cross over? Could this be indicating us of anything of significance which will interest enough to want to know more? Again only time will tell and we will be here waiting and watching with anticipation!




Alright Rich. You can have more time mate. I am sure you will have the answer tomorrow. The film is a cult classic and is said by my favourite character in the film. Another clue is that another one of his quotes is much better known and is commonly found on tshirts!

The answer to you riddle has to be snow but I think a towel also makes sense but I am going to go with snow?!

Till tomorrow

Abundance is your Birth Right

Zaheer Anwari

Following a new currency

Good Morning Dynamic Traders,

I have decided follow the Yen this week, so let’s start off by having a quick review of what has been happening.
From looking at the day chart below you can see that the Yen has been enjoying some action around the VI. Price is currently looking at getting stronger, but will this last. We also appear to have a head n Shoulder formation forming which could prove to be interesting a bit later in the week.
One of the first things that I noticed is that price has changed directions at RN with I have marked on the chart below. This is of course an indication of how the Yen will behave later, be sure to keep this mind.














This leaves us asking the question, what will Yen do next?
Stay posted this week to find out.

Happy Trading

Richard Monnery

EURGBP sitting intersting

Good evening ladies and gentlemen

I hope you all had a great day start in the market. As much as it hurts me to say it, I'd like to say congratulations to Manchester United for winning their 18th league title. My team Liverpool can be proud with their achievements for the year and pushing them all the way. The only team unbeaten at home, double over Manchester United and Chelsea and should have done the same to Arsenal, best goal difference most likely and Gerrard Writer's Player of the Year deservedly so. It just makes you realise that the run of home draws cost us dearly and in fact we lost the opportunity to win the title rather than Manchester United winning it. Can't wait till next season!! What we going to do till then?? All I can say is "Thank God for TRADING!!"

So this week I thought I would revisit a pair that is always on my watchlist and is now sitting at an intersting position. Below is the daily chart. Price has been flat since the end of 08 and the turn of 09 but recent action has been heading into a squeeze which may burst its bank anytime soon! I have also drawn in a S and R zone which coincides with the figure! Price, currently, has BOBbed out of the zone but is now heading towards a fortified cluster of the trend line, a fib breather level and if both those are penetrated than the VI. What are the other indicators saying? There will need to be a real surge south if all these are to be penetrated but if they are nice easy profits may be on the horizon! On the other hand, these confluences maybe too strong for price and rebound in which case if the trend and S Line are penetrated we may have to switch our sights for fruitful gains. Either way patience is the name of the game until the desired rally cry presents itself.

As an interest is big brother - the weekely chart - saying the same thing?





It will be interesting to see how price unravels itself over the week.

Alright Richy Ol' Boy! Yeah I agree gone in the blink of eye! Thank god we can't say the same about the sun this year. I attended a couple of barbecues and caught up with some old friends. You? And exactly that, trust your analysis!!

The answer to your riddle is one of my favourite films too. It's about time he came out with another classic. It is said by Eddie in the film Lock, Stock and 2 Smoking barrels!

My riddle is which film is this from:

"Well, when I came home from school my head started to get really hot. So I drank some cold water, but it didn't do nothing. So I laid in the bathtub for a while, but then I realized that it was my hair that was making my head hot. So I went into my kitchen and I shaved it all off. I don't want anyone to see."

Till tomorrow

Abundance is your Birth Right

Zaheer Anwari

Round up on the Loonie

Good Morning Dynamic Traders

Hope you all had a great weekend and are ready for another week of catching profits.

I’m going to round up following the CAD today after 2 weeks of following the Loonie.
I think it’s fair to say that the Loonie has been struggling since last Wednesday as price has been oscillating around the resistance area, which has added strength from the RN.
It also appears that price could now be caught in a channel, and if this is the case then easy profits are on the horizon!
I personally wouldn’t be surprised to see price fall to the support line, as MACD the is showing signs of divergence, what do you think?














Happy Trading

Richard Monnery

GBPJPY - Thank you and signing off!

Good evening ladies and gentlemen

I hope you all had a wonderful weekend. Not long to go before the opening whistle so I hope you are all recharged and well rested.

This is the update I was supposed to put up on Friday but due to a jam packed day didn't get a chance to. So lets see how the GBPJPY finished up the week. I left with you with a question on Thursday which was if price was doing a retracement, where would we anticipate it going to. I didn't mention, but I gave a clue with a trendline I had drawn in on the 4hr chart. This trendline in deed held strong rebounded and spent friday making up for the lost ground.

Below is the 1 hour chart. So what next for this cross currency, can we expect a further move south or a retest and break of the RN? What is the direction of Big Brother? What are the other indicators saying? Remember the market is always correct. All we can do is do our own analysis and trust it according to a stringent set of rules that make up our own personalised TP. I will leave you to do this and to get ready for the week ahead. I think she is worth a position on your watchlist don't you think??!!




Alright Rich. I hope you had a top weekend sir. Give me till tomorrow to do your riddle please. And my answer was indeed a trick question. I don't drink alcohol! Sorry silly riddle I know!!

Till tomorrow

Abundance is your Birth Right

Zaheer Anwari