Pound still fighting!

Good Morning Dynamic Traders

Hope you’ve had a successful week of trading!

My apologies for not posting an update yesterday, let’s see how the GBPUSD has been getting along over the past 2 days.

If you have a look at your day chart (not posted) you will see that price did indeed struggle to drop any further after my last update on Wednesday, with yesterday showing signs of price getting stronger. This strength however does seem to be short lived, as we are greeted with a bearish candle stick this morning. So what has happened to price over the past 2 days, to help explain I will be using the 4hr chart below!
You might remember from Wednesday’s update the MACD convergence I mentioned. This convergence did actually help price to climb and it had enough strength to push price above the VI, which is now acting as a Support Line.













So what’s price going to do now? You will notice on the chart above that I have circled a group of candlesticks, could this be a flag?

Next week will dive in further and see what chances we had to catch some profits.

I Hope you have a great weekend!

Carpe Diem

Richard Monnery

EURAUD Back On Track?

Good evening ladies and gentlemen

I hope you all have had a productive day in the market. As a reminder, immersion is key to be a succesful trader!

So to the EURAUD and did she behave as expected after the confluences from yesterday? Looking at the 1 Hour chart we can see that price has indeed dropped to the S Level, rebounded, retested the VI and is now on it's way back down again. It just goes to show that with the edge in your favour, the markets will behave as you anticipated (but remember not each and every time!!). We may now see a more natural drop in price since price seems to have regulated itself. As Smart Money that means a drop followed by periods of retracements! But as always what next?? We have price below the RN and testing it as we speak so could we see a bounce of the R Level? On the daily, Stochastics is still showing a fake signal and yesterday's bar was an intersting looking doji!

(Annoyingly still having problems - Please refer to the 1 Hour chart!)

As always do your own analysis!

I will leave you with this thought "Effort only fully releases it's reward after a person refuses to quit!"

Total Abundance is your Birth Right

Zaheer Anwari

EURAUD At A Double Top!

Good evening ladies and gentlemen

I hope all is well in the market so far today.

Yesterday we left the EURAUD at an intersting confluence of events, which included a tram tacks in proximity to the RN, that may have encouraged a further move south. However, the opposite has since happened which I was aware of as a possibility but did not mention. Price has since still continued to fight back and is now retesting the high before the release of NFP on Friday. As we stand, we now have another interesting confluence of events at this Double Top. There is a mini divergence on MACD, a 123 at a RN of sorts, candlesticks and Stochastics is still giving a flase reading on the daily chart. So we still seem to have the edge in our favour.

(I am still having problems uploading charts - Please refer to the 1 hour chart!)

I will leave you with this thought "Intellectual Growth should commence at birth and cease only at death!"

Total Abudance is your Birth Right

Zaheer Anwari

A closer look!!!

Good Morning Dynamic Traders,

Yesterday we got familiar the GBPUSD, so today I thought we could dive in and have a closer look at the action.
In the 4hour chart below you can see very clearly where price has was climbing and then dropped. The VI had a huge part to play in catching price from dropping further, and you can see that the VI caused price to start oscillating. As well as the VI price also dropped to a nice RN, which is also at S/R line. I have drawn this S/R line in the chart below and if look along line you see that this is S/R line has been tested by price 4 or 5r times before. The VI, S/R line and the RN have all done a wonderful job is catching price from falling further, but is it enough?













It’s still early days before we can confirm that price is going to start climbing again, but some good news for price is that the MACD is showing signs of divergence.
It will be interesting to see what action today brings.

Happy Trading

Richard Monnery

EURAUD Back To Test The VI!

Good evening ladies and gentlemen

I hope you all had a productive day in the market. So let's get straight to the EURAUD and see how she has behaved today.

Below I have the 1 Hour chart and we can see that price has done a fair bit of retracing today, which as SM should know that this is normal behaviour as price is maybe still regulating itself after the impact of NFP. Price has climbed back up to the VI and has produced an interesting candlestick formation. Even though price has broken above the RN and through the R Line, we have to remember that Trading is not an exact Science and we could be seeing a FBO before further move southwards. We still have the false signal on the daily on Stochastics which looks promising.

Let's wait and see what happens tomorrow.

(Still having problems uploading images - check you own hour chart and see if you can find the candlestick formation I mentioned above!)

I will leave you with this thought which is dedicated to two very special people "When someone you love becomes a memory, the memory becomes a treasure." My thoughts are with you.

Total Abundance is your Birth Right

Zaheer Anwari

Here’s looking at the GBPUSD

Good Morning Dynamic Traders,

I have decided to kick off by following the GBPUSD.

I will start off by getting familiar with the GBP again, then as the week progresses we can look in the GBPUSD in more depth.

From looking at the weekly chart we can see that price has been in an uptrend since the beginning of the year. However from the daily chart (below) you can see that price has seemed to have stumbled, and has dropped slightly.
Why’s this?

There are a couple for reasons for this drop, the first being that price has hit the figure. Another reason comes from the MACD, but also remember last Friday was the NFP, which we can clearly see had some effect on price.

So where do you think price will go next?

Happy Trading

Richard Monnery

EURAUD Breaks South!

Good evening ladies and gentlemen

I hope you all had a wonderful weekend and managed to enjoy some of the sunshine we had on offer here in London and the UK (and also where ever you may be)! Welcome back Rich! Hope you had a grand holiday!

On my last update, price was oscillating between the S and R Lines. However, with NFP out on Friday price dropped quite steeply straight out of the zone. It then retested the S turned R Line before moving further movement south. So as we stand, we seem to have the edge in the favour. We have the trend as our friend, we have broken out of the zone and below the RN, Stochastics is now showing a false signal on the 1 hour and 4 hour charts, compared to last week which was matching the sideways movement, and we still have Stochastics showing us a false signal on the daily. But what the market will do next, we can only wait and see!

(I'm having problems loading images. Will try later!)

Please do your own analysis.

I will leave you with this thought "Your rhythm is your truth and it shall set you free!"

Total Abundance is your Birth Right

Zaheer Anwari

I'm Back

Good Morning Dynamic Traders,

Hope you all have had a good 2 weeks of trading!

I'm afraid that I don't have anything to report today, because I only got back on Saturday night and I'm still trying to get back into the swing of things!

I just wanted to say hi and let you know that I forgotten and I will continue my updates as usual tomorrow!

Happy Trading

Richard Monnery