EURCAD sitting cosy for the weekend!

Good evening ladies and gentlemen

An end to another week in the market. I hope it's been one of profit and/or progression. Once again the weekend will give you a chance to reflect and make any necessary changes!

So lets see how the EURCAD has ended play today. Being Friday, I didn't really expect to see any big moves. Below is the 4 hour chart and we can see that price had done a double top and has not broken through the previous high! It has found some comfort within the S and R zone and the squeeze. I think this is an interesting place to leave her for the weekend. Lets see what the market has to offer us next week and act accordingly. We may be in for a lucrative week next week or we just see some osciallation until she bursts the squeeze again.



Come Sunday do your own analysis for the week ahead. What do the indicators say? Is there a BOB for ESLT? Has the S and R zone been broken? Are we at a Fib Breather level? Any candlesticks and chart patterns of relevence? I will stay with this currency next week as we may be in for some exciting action next week!!

I will leave you with this thought "God's delays are not God's denials!"

I bid you all a fantastic weekend!

Till Monday

Abundance is your Birth Right

Zaheer Anwari

Failure at the RN

Afternoon Dynamic Traders,

The CHF has had a change of heart over the last 2 days. Yesterday I spoke about how price would have to beat the RN if it wants to continue climb. Yesterday price failed at the RN and dropped towards the VI. This failure at the RN offered us a chance to go short and catch some profits.

“How”? I hear you ask!













If you look at the 4 hour chart below you will see that we have a double top at the RN. This double top is also present on the hour chart also, which means that we have 4 confluences of events. If you managed to get triggered into this trade very well done!

So what’s price doing now?

If you look at the same chart above, you see that price is currently playing around the same area as the value index and this also happens to be around a fib breather level. There is every chance that price is taking a breather because the VI will acting as support and this area is also an S/R area.

It will be very interesting to see what rest of today brings to see if price is in a breather or in another down trend.

Hope you all have a great weekend

Happy Trading

Richard Monnery

EURCAD uses the RN trampoline!

Good evening ladies and gentlemen

Hope you are all having a wonderful day in the market. The weather once again was fantastic!!

So lets see how the EURCAD has behaved today. Yesterday we were seeing price correcting itself after 2 days of rapid climb. My question yesterday was how far could we see price drop before we could see another possible move? The RN being the first support and that is exactly what happened.

Below I have the 4 hour chart we were looking at yesterday. We can clearly see price dropping to the RN and has sinced bounced. The question remains as always what could happen next? Could we see a further possible reversal with the 123786 to go with the divergence on MACD as we are seeing now? Or could the well known saying "The trend is your friend" hold true and could we see another surge in the Bulls beating the Bears!!??



What are the other indicators saying? Any reversal candlestick forming to give any early indications? I will leave it to you to do your own analysis!!

I will leave you this thought as said by Bejamin Franklin "If you think education is expensive, try ignorance!"

Till tomorrow

Abundance is your Birth Right

Zaheer Anwari

A surprise from the CHF

Morning Dynamic Traders

Hope your having a great week, not long till the weekend!

The CHF had a surprising fall yesterday of roughly 300pips. Why? If you look at the day chart below you will see that price dropped to a S/R area that has been tested often in the past. With a bullish engulfing candle stick shortly afterwards price shot up.













Generally what goes straight up sometimes goes straight down. If you look at the candlestick that we have today on the day chart, it was red when I started my write up, but it has now turned green, which means that it might be finding support from somewhere. If you have a look at the 4 hour chart below you see that price climbed above the value index and took a short breather back towards the VI. It then used the VI to spring board up!













Price now has a tough RN to beat and if price can beat this RN we may see price climb further until it reaches the VI on the day chart!

I look forward to finding out tomorrow how price gets on today!

Happy Trading

Richard Monnery

EURCAD hits a dam!

Good evening ladies and gentlemen

What a beautiful day with regards to the weather!! Long may it continue! But as long as we have trading, everyday is a beautiful day! I hope you all managed to get some of this sunshine where ever you may be!!

So down to business and lets see what the movements of our girl for the week, the EURCAD, have been so far today! After the first two days of rapid movement I felt that we could have seen a retracement and that is exactly what has happened today. After bursting the banks on Monday, price hit a dam which was in the form of a S and R zone and reversed back towards the RN! With RSI and Stochastics well OB yesterday, today's movement should have come as no surprise. We also know that price does not move in a straight line! So what next? We could see a bounce of the S line. If that is broken we could see price being held by the trend line. We could also see price kept within the squeeze before another break out. Price could also ignore all of this and feel the need to retest the VI on both the daily and the 4 hour time frame. Either way I will leave it to you to use the indicators, your own analysis and more importantly allow the market to dictate what action to take next!!



Let me leave you with this Japanese Proverb. "Fall down seven times, get up 8!"

Till tomorrow

Abundance is your Birth Right

Zaheer Anwari

Day 2 on the CHF

Good Morning Dynamic Traders, hope your all enjoying the fantastic weather.

Yesterday we got ourselves familiar with the CHF again, and if you were watching this chart you were given the opportunity to collect some easy profits. Yesterday I pointed out the reversal formation which came with a healthy downtrend which a breather halfway down. If you had a short position you had the ability to catch a potential 800pips. Do not fear if you missed out, just make sure your ready for next time.

In the day below you can see that price stopped falling at a RN and formed a 123 bottom. This 123 Bottom also came with convergence from the MACD, which seemed to be the perfect setup for a reversal to go up!
Why didn’t price climb?
This is an easy question to answer and those of you with a keen eye would have seen the strong RN of 1.1000, this also happens to at a previous S/R area.

Tomorrow we will look into why price is currently oscillating.

Happy Trading

Richard Monnery

EURCAD flows north!

Good evening ladies and gentlemen

I hope you all had a wonderful 2 days in the market. I was unable to do an update yesterday due to prior arrangements.

This week I thought I would concentrate on the EURCAD. It's been on my watch list since last week and since yesterday has managed to shoot up a whopping 400 pips. I hope you all managed to get some of the spoils on offer!?! If not, do not worry as there are and always will be other opportunities!

On the daily, the bulls have out muscled the bears since Septemeber 2007 but price currently is in an oscillation. However yesterday's bar shot through the VI like it wasn't there, found comfort around the RN, which today's bar used as a support to carry on its journey north.

Below I have the 4 hour chart which shows the action in much more detail. We can see that price was forced into a squeeze, which then had no choice but to burst the banks and start its ascent! Price has now found some comfort around a RN of sorts. It will be intersting to see what happens over the next few days. Could we see further move upwards or could we see some consolidation taking place? RSI and Stochastics are both well OB!!



Let me leave with you this thought? " Are you feeling inspired?"

Till tomorrow

Abundance is your Birth Right

Zaheer Anwari

New Currency Time

Afternoon Dynamic Traders

Hope your all enjoying the good whether today.

I have decided this week to follow the CHF. This is a currency that I haven’t followed with you guys for a while, and thought it would be good to catch up.
To start with, I think it would be a good idea to get familiar the CHF again. We can see from the day chart below that CHF hasn’t been having a good time of late. Clearly price is in a downtrend especially with price being below the value index.

Why did price reverse?

On the day chart above I have marked out a head n shoulder pattern which helped to stop price climbing and started it’s down trend.

So what’s price been up to recently then?

This I will answer throughout the week.

Happy Trading

Richard Monnery

Last day on the kiwi

Afternoon Dynamic Traders, hope you all had a great weekend!

Today I am going to conclude 2 weeks of following the Kiwi.

Last week I was referring to price being squeezed by 2 trend lines, and how we would have to wait for a BOB. The BOB came at the end of last week, but as you can see from today’s candle stick price has fallen back under the trend line (but is yet to close). So what’s happening then?

In the 4 hour chart below you can see that price climbed out of the trend line and failed at a previous S/R line which is also in close proximity to a RN. The change in price was identified by a reversal candlestick.
This was always going to be something to watch for out for, which is why I made the comment on Friday about price having to beat the RN.

What will be interesting now is what price will do next. If price continues to drop, will the “up” trend line be strong enough to support price?
If price drops below the trend line, would you enter a trade? If so when?

Hint – if you do decide to enter a short position and providing you have good enough reasons to, my entry would possibly be at a major pivot low!

Remember always carry out your analysis!

Happy Trading

Richard Monnery