GBPJPY we salute you!

Good evening ladies and gentlmen

As we come to the end of another week of trading and to the end our coverage of the GBPJPY (but hopefully not the good weather we were having here in London but at the moment seems to be playing hide and seek), I hope it has been filled with consistency and profits.

So lets see how price looks like finishing up the week. On the 4 hour chart we can see that price has found some kind of comfort within the S and R zone around the VI. On the 1 hour chart we can see in clearer detail what is holding price back. The divergence, with the 123886 and the indecision candles caused a reversal in price but has seen been ranging with in the zone.



The question is what will happen next. Of course we don't know but we can look at what we have to put the edge in our favour. On the daily the long term trend is up and we know the saying the trend is your friend. However after the confluences that created the reversal on this time frame, price has struggled to get back in the direction of the major trend. Would you then say that the immediate trend is now down? What are the other indicators saying? From a swing trade point of view our position should in stance mode. The market has not yet met my criteria to open a position as yet! This currency pair is always on my watch list. I am sure they will be revisited in the near future!

As always do your own analysis.

I bid you all a wonderful weekend. I will leave you with this thought "God's delays are not god's denials!"

Abundance is your Birth Right

Zaheer Anwari

Last of couple of days with the CADJPY

Good Morning Dynamic Traders

Yesterday morning we saw price drop after a rapid climb, but during the course of the day price seemed to manage to the find the strength to stop falling! If you look at the 4hr chart below you can see clearly where price has dropped and then started to oscillate. What is also helping price to find some strength is the VI.













This isn’t too much of a problem that price is currently oscillating and doesn’t necessarily mean that price will continue to fall. You should be aware by now that a healthy trend involves price taking time for a breather. Personally I really wouldn’t be surprised to see price start climbing again.

However always make sure that you carry out your own analysis.

Hope you all have a great weekend!

Carpe Diem

Richard Monnery

Price is struggling to climb

Good Morning Dynamic Traders,

A glorious start to the day weather wise, although its meant to get a little worse later on!!

While doing my update yesterday, price yesterday was struggling to climb, and then eventually through the course of the day price jumped dramatically and if you look in the day below you will see that price is once again struggling. Why is this?
There is a simple to answer to this question, which is a S/R area. In the day chart below you will see that price has climbed and is now hovering around a previous S/R line with a RN is close proximity and the VI is also joining in on the fun!













The question we are left with now is what will happen next. If you take a look at your studies you will see that that the RSI is losing confidence in price climbing, where as the MACD and Stochastics still have the confidence. What do you think will happen next?

Carpe Diem

Richard Monnery

GBPJPY surges up!

Good evening ladies and gentlemen

Half way through the trading week. I hope your profits have not dried up with the lack of sun! Come rain or shine, a mechanical approach is the name of the game!!

So to the GBPJPY and yesterday I asked where price could be heading to. Could we see a reversal back south or could the Bulls continue to outmuscle the Bears? And it is the latter that happened crashing through the more aggressove Fib Breather level and now sitting at the VI and S and R cluster, which I also mentioned yesterday.

On the Daily chart, altough we had a change in trend to the down side after the confluences metioned last monday, the long term trend is actually still up and so it is possible that the saying "The Trend Is Your Friend" could be holding true once again!

Below I have the 4 hour chart and we can see that the convergence, 123886 and the spinning top were the catalyst for the surge in price back in the direction of the trend. Now the question is can price break through the current cluster it is sitting at and move up wards and onwards? RSI is coming into the OB zone while Stochastics is already there with the signal lines looking interesting!

As always do your own analysis.

I will leave you with this thought from Jim Rohn who was Anthony Robbin's Mentor, "If you don't design your own life plan, chances are you'll fall into someone else's plan. And guess what they have planned for you? Not much!"

Till tomorrow

Abundance is your Birth Right

Zaheer Anwari

Will price continue to climb?

Good Morning Dynamic Traders,

Halfway through the week now, and I hope your having a good week!

Price has climbed even further since my update yesterday, so will price continue to climb? The honest answer to this question is I don’t know, because the market will do what it wants to and remember, the market is always right!

However if price does continue to climb, what things should we be looking for? And when can we think about entering a long position?
To answer these questions I will be using the weekly chart to help me explain. I have mentioned a couple of times since following the CADJPY that we could be in a bullish flag. If this is indeed the case we should be looking out for a reversal candlestick formation for extra confirmation for price breaking out of the breather. In the weekly chart below you can see a reversal candlestick formation forming.
For entering a long position is dependent on how aggressive you are as a trader. The more aggressive you are the sooner you will enter a trade, and this can be from any point now! Personally, I am more conservative, but more importantly I need more confluence of events then we have now, because price can still potentially drop. For these reasons this is why I will be waiting for a BOB above the S/R line that I have marked out on the weekly chart below.













It will be interesting to see what happens to price today, as it currently hovering around a previous S/R area, which is why price has slowed down.

Till tomorrow

Carpe Diem

Richard Monnery

Where are you going GBPJPY?

Good afternoon ladies and gentlemen

My update is going up a little earlier than usual as I have a packed evening ahead of me. I hope you are all having a profitable day so far.

So to the GBPJPY and we were left wondering if price was being forced into a squeeze. Below is the 4 hour chart and we can see that price actually shot straight through the trend line and is now retesting the Fib Breather level. RSI crossed over the midline, which it was threatening to do but is facing back down and look as if it may cross bacl below the midline. MACD has been doing higher highs but could we now see lower highs to indicate a move south? Price is currently doing a spinning top but we still have over an hour before the next bar opens on this time frame so we just have to wait and see what happens. Could we see price hit a more aggressive Fib Breather level or even a retest of the VI? I will leave you to do your own analysis!




I will leave you with this thought "Don't step into the river without knowing it's depth!"

Till tomorrow

Abundance is your Birth Right

Zaheer Anwari

Has price finally made a decision

Good Morning Dynamic Traders,

Hope you had a good start to the week!

Price has totally turned around from my update yesterday! Yesterday morning we saw price falling below the support line. If you look at the day chart below you can see that price finished yesterday above the support line and climbed just above the RN.













Why is this?

To help me explain this turn of events I will be using the help off the weekly chart. You may remember last week on one of my updates I was commenting that price could in a bearish flag or a bullish flag. If you look at the weekly chart below you will see that price has dropped to the RN and then changed direction and has started to climb. At the same point where price changed direction is a fib breather level. This fib breather level along with the MACD convergence (on the day chart), the RN and the Support line seems to of helped price find some strength.













This doesn’t necessarily mean that we jump on a long position, as it is still too early to get confirmation that price has is performing a bullish flag.

This is definitely a chart worth keeping on your watch list.

Remember always carry out your own analysis!

Carpe Diem

Richard Monnery

GBPJPY heading into a squeeze?

Good evening ladies and gentlemen

As the curtains come down on the first day in the trading week, I hope you can look back on it in a positive light. Losses are all part of the game and all part of progression. Always look back to check your analysis was correct and if it was then it was just market behaviour. The key is to make sure that your winners cover the losses and more!

So the GBPJPY ended the week behaving correctly according to out technical analysis. Price reversed back in the direction of the major trend at the conservative Fib Breather level which was all taking place ont he 4 hour chart.

Price came down to retest the S line, failed to break through and is now heading back to the trend line and is now at the figure. Could we see price now being forced into a squeeze and forced further back down in the direction of the trend or could the market decide other wise. All we have to do is wait and see and in turn let it dictate what action we should take. Of course check the indicators. RSI is below the midline but hovering close to the cross over.




I will leave you with this thought by Benjamin Frankin, "An investment in knowledge pays the best interest!"

Till tomorrow

Abundance is your Birth Right

Zaheer Anwari

Week 2 on the CADJPY

Good Morning Dynamic Traders

Hope you all had a great weekend, and are ready for another week of money making!

We left the CADJPY on Friday wondering if price was going to be able to beat the support line! If you look at the day char below you will see price has managed to just about drop below the support line, however if you look closer you will see that price has tagged the S/R line. This means that price is still caught in the S/R area.
Our studies are also showing signs of price falling apart from the convergence from the MACD, but the signal lines from the MACD are indicating to us a further drop.













We still have good arguments for price to fall and to climb! This week could prove to be very interesting indeed!

Happy Trading

Richard Monnery

GBPJPY reverses from Breather!

Good evening ladies and gentlemen

This is a quick update on the GBPJPY that will be under scrutiny for the following week as well. We left price at a breather level on the 4 hour chart and were anticipating a reversal. That is exactly what happened and has reversed back in the direction of the trend. So it will be interesting to see how she behaves over the 5 days of trading! We may see some SM profits being handed out!

I hope you have all had a fabulous weekend and are fully recharged for the week ahead.

Till tomorrow

Abundance is your Birth Right

Zaheer Anwari