Cable Continues Climbing!

Good evening ladies and gentlemen

I hope you had a wonderful (yet short if in The UK!) week in the market. The weekend is upon which gives us time to reflect over the trades we have made over the week. Accountability is key to being a succesful trader!!

So our girl for the week was the Cable and lets see how she finished up the week. Yesterday we were left with a dilema on whether price would go long or short. There were several confluences saying that we could be in for a retracement but at the end of yesterday's update I mentioned Big Brother, refering to the overall trend on the bigger time frames. Which direction would you say the trend is on the daily time frame? As SM, you should know that the "Trend is your friend" or "Trade with the Trend"! Personally, I was anticipating a continuation long and not a 123886, 123786 or DT and then a reversal in price.

Below is the 1 hour chart and we can see that is exactly what has happened! RSI crossed back above the midline and MACD acted accordingly too!

The question as always remains, what will happen next? What are the indicators saying? Are RSI and Stochastics OB? On the daily, there is clear space till the next R line so how much can we expect price climb? I will leave it to you to do your analysis over the weekend and I have a feeling I may be staying with her over the next week too! She is definatly worth a space on your watch list!

Alright Rich! Yeah to behonest I didn't fully get it but it makes sense now that you gave me the answer! Nice one! The answer to your riddle is the moon!

My riddle is "In trading, what is just as important as what you do see?"

I bid you all a wonderful weekend. Please please let the skies be blue!!

Till Monday

Abundance is your Birth Right

Zaheer Anwari

What’s the Yen doing now?

Good Morning Dynamic Traders,

An awesome start to the day this morning, fingers crossed this whether continues on throughout the weekend!

Yesterday we saw the Yen enjoy a massive climb to the upside. You will see on both the day and 4 hour chart that price actually tagged the Value Index. It does seem however that price has run out of steam as price has stopped climbing. According to the day chart price is now dropping, so to get a better understanding I have posted the 4 hour chart below. As you can see price is currently oscillating, which could mean that price is having a breather.
If you hook out your Fib, you will see that price is currently at one of the two Fib Breather levels. Also pay attention to the signals coming from the studies as well, as the RSI is currently showing no signs of getting stronger.













Has price reversed, or is price just taking a breather?

Hope you have a great weekend

Happy Trading

Richard Monnery

Cable continue long or short?

Good evening ladies and gentlemen

I hope you all had a wonderful day in the market! Remember with persistence comes success!

So lets have a look at how our girl, the Cable, has faired today. I was eventually stopped out yesterday evening on around 200 pips. Lets see why that was!!

Below is the 1 hour chart and we can see that price reached its pinnacle at 16100 before doing several spinning tops and reversing where I got stopped out. Price dropped to the 15900 and is now on a climb back up! Effectively, the figure of 16000 is holding strong and proving a sticking point for price at the moment. So the obvious question is what is going to happen next and as always my answer is I dont know but using the tools we have in our arsenal we can try to anticipate action in our favour!!

So from yesterday we still have the divergence. Looking at the chart as it is, could we have a possible 123 on our hands with a 786 or 886 determing an entry to go short? Looking at MACD, it still above the midline but for how much longer? RSI has just crossed over the midline so is the move south already on its way? If we are anticipating a move south, where will it go to? The first obvious answer is the VI?! Added to all of that Stochastics signal lines look interesting!!




On the contrary, could price be doing a breather and continue with the trend that big brother is dictating?? Only time will tell! As always do your own analysis!

I was just about to ask where you had disappeared to again!! Better late then never sir!! Good to have you back on board!!

Check you out. Actually the answer I was looking for is SWIMS but NOON works!! Nice one!

I can sense a certain sense of sureess in your voice which says I should not be getting this! My answer is BOB but I feel this is too obvious!

My riddle is "What belongs to you but people use everyday?"

Till tomorrow

Abundance is your Birth Right

Zaheer Anwari

Check the Yen Out!!

Afternoon Dynamic Traders,

Hope you are all having a good day.

What is happening with the Yen, it has shot up this morning. Let’s have a look and find out why.
If you look at the hour chart below you will see that price slowly climbed towards the VI and it finally beat the VI and started to drop. When price began to fall it used the VI as a spring board and rocketed up.














You can see on the hour chart that price has slowed, the reason for this lies in the 4 hour chart below. You can see from the chart that price has climbed towards to VI, which is obviously acting as a strong resistance. Hopefully you all haven’t missed another important factor which is also having a strong effect on price.......that’s right.......the RN.














Where do you think price head next after the events of yesterday and this morning??

Happy Trading

Richard Monnery

Are you on the Cable Ride?

Good evening ladies and gentlemen

I hope you all had a wonderful Smart Money day in the market. The weather has taken a serious turn for the worse after what we were treated to on the weekend but as long as we can trade, every day is a beautiful day! Can I get an Amen? Aaaammmeennnn!!

So lets see what has been happening today on our girl for the week, the cable! I have been in this trade since yesterday and am now a beautiful 250 pips in profit. Price has broken through the RN and on the Daily is now sitting at a fib breather level. The question remains to be asked, after the indepth analysis from yesterday, how much further will this carry on for?

Below is the 1 hour chart. Interesting candlestick formations at strategic times of the day caused price to continue climbing. But now we can see a clear divergence happening on MACD on both the histogram and the signal lines. RSI is yet to go OB. However, Stochastics has crossed over into the OB zone but the signal lines are yet to say anything of significance. Looking closely, what kind of reading is it giving? If you read Jedi Master John's update from the morning, you would be in the know.




Will be very interesting to see what happens by tomorrow so keep on watching. Remember to always do your own analysis!

Welcome back Rich. A happy belated birthday sir!! So how old are you? 18? I will remember to give you your traditional bumps when we next meet. Sounds like you had a top birthday/stag weekend, as it should be! It's good to have you back as I was beginning to feel a little lonely on here!!!

So the answer to my riddle is Mark Douglas, who is the author of Trading In The Zone.

The answer to your riddle is Henry Ford, the automobile industrialist!

My riddle is which word when read from left to right or read upside down is spelt the same?

Till tomorrow

Abudance is your Birth Right

Zaheer Anwari

Back following the Yen

Good Morning Dynamic Traders,

I would like to apologise for not updating on Friday, Monday and Yesterday. I have had quite a busy weekend with a mates stag do starting on Friday to Sunday. His stag do was a weekend in Blackpool, and I hoping to do an update before I left but I was running late.
I celebrated my birthday on Monday and my girlfriend and I stayed in the New Forest till Tuesday, so sadly I missed out on trading and updating the progress on the Yen.

Back to business. The Yen had dropped further from I had left it at 94.50 and fell to 94.00. It is now currently enjoying slow progress towards the upside.
This leaves us asking how far will the Yen climb?
Find out tomorrows on update. An important factor to take into account is the RN.

Happy Trading

Richard Monnery

Waiting for the Cable Ride?

Good evening ladies and gentlemen

I hope you all had a wonderful weekend and were blessed with some of the stunning weather we got here in The UK. Sunday was the hottest day in the year so far. I made the most of it by playing golf, relaxing up in the city with my cousin and some friends and also no long weekend would be complete without a barbecue. So I was refreshed and recharged to attack this trading week (all be it a 4 day one) with vigour and passion but oh so very mechanical!! Hopefully you spent the weekend doing things you love and with people who mean the most to you!?

So I thought I would revisit the currency which I wrote my first update on about 3 months ago, which is The Cable or the GBPUSD. Since last week, this major pair have made interesting moves which may interest the swing trader but I feel a certain patience may be involved before an entry can be determined. Below is the weekly chart. Since May 2007 we can see price fell rapidly till then turn of the year. Since January 2009, price has been making a fight back. It has broken through a previous Resistance and is now approaching the RN. If it breaks through this, the next obstacle is a fib breather level. As SM we should know that a retracement follows every big move! So what is it that we are seeing unfold before us? Can we see a further move up before a reversal? Is this a FBO and will the figure hold strong? Where is the VI? What are the other indicators saying? Currently MACD is doing higher highs. RSI has crossed over the midline and has some way to go before it is OB!

Below is the daily so we can analyise in more detail what is happening. As we can see, last Thursday price broke through a R cluster of the VI and a R line. It is now hovering around the mentioned RN, creating several indecision candles. What can we expect on the time frame? The indicators look interesting. There is divergence on MACD and RSI is OB! Could this mean we may some weakness before a further move up? Is there a possible restest of the VI which could then be used as the catalyst for a price increase? Or as suggested is this a FBO as price is sitting in very close proximity to a conservative breather level?! Is a reversal on the cards? As always, all we can do is let the market dictate the course of action and as SM take the appropriate action with timing be key! It will interesting to see how action unfolds!!

Remember to do your own analysis!

I am not sure where my right my hand is gone?! HHmmmm...... Hope all is well matey!?

The answer to Richard's riddle on Thursday is "you word!"

My riddle is who said the quotes at the end of Jedi Master Saba Jackson's update from this morning?

Till Tomorrow

Abundance is your Birth Right

Zaheer Anwari