EURAUD Signing Off!

Good evening ladies and gentlemen

I hope you all had a wonderful week and now deserve a well deserved break with the weekend upon us!!

Looking at the EURAUD, price has continued to fight back over the last two days with huge moves yesterday and today before finally being pushed back by the R Line as shown on the Daily chart below! Depending on where your stops are, many may have been stopped out at a predetermined loss. As SM we know that this is the nature of trading, accept it without any emotions and simply wait for the next SM set up.



What can we expect for the future? As always we favour the direction of the trend so Short is our preferred direction. However, price is now in an osciallation and we could get a break out in either direction. AS SM we should be aware that a good entry going against the trend is much more important than going with the trend! I will leave you to do your own analysis for the weekend to determine entry points in both directions!!

Vernon Myers once said "Determination and persistance in pursuing a desire leads to greater opportunity."

I bid you all a wonderful weekend.

Total Abundance is your Birth Right.

Zaheer Anwari

How to use a Trend Line

Good Morning Dynamic Traders,

On my update on Monday I marked on the chart a trend line. You will notice that price has been using this trend line as support since the trend began back in March.
So could we use this trend line to make money?

The trend line alone doesn’t provide enough reason to enter trades, so we need to find more confluences of events. Every time price has hit the trend line price has also found fib breather levels at the same place. You will notice that RSI has bounced off the mid line at the same time price bounced off the trend (support) line. The direction that the VI is moving in would also provide us with a little more confidence in the direction that price is moving.
With these confluences of events you could have used the trend line as potential points for entry.













Today price has suffered quite a large drop, but you can see that the trend line so far is doing quite a good job of holding price from dropping more. This isn’t to say that price won’t drop any further, it means that price will have to fight it if it wants to drop further.

If price does drop below the trend line, what signs should be looking for?

Happy Trading

Richard Monnery

EURAUD Sitting Comfortable!

Good evening ladies and gentlemen

I hope the week has been a productive one up to now.

The EURAUD has not really made any efforts to push back down from the retracement and is happily sitting at the VI on the 4 hour chart (below). We do however see a possible triple top forming at this R level which may fuel price to drop. Looking at the indicators we can see that RSI is above the midline but currently heading down!! MACD is below the midline. However, looking at the daily chart we can see that this period of oscillation has been strngthened by stochastics no longer giving a fake signal! However, we do still have the advantage of the trend!

Please do your own analysis!

I am obsessed with nature, animals, the history of humanity, evolution and how we have all adapted to live and survive in different environments. Charles Darwin said:

"In the struggle for survival, the fittest win out over the expense of their rivals because they succeed in adapting themselves best to their environment!" Relevant to the beautiful world of the SM Trader??

Total Abundance is your Birth Right

Zaheer Anwari

EURAUD Heading Back South??

Good afternoon ladies and gentlemen

I hope you all had a wonderful day in the market. One of those days when you are not even out of bed and you can hear the rain lashing against the window and you just wana stay in bed!! Luckily we have a very good excuse to get up and out of bed with a spring in our jump unlike so many others!!

So lets get to the EURAUD and see what has happened. In the latter part of last week. price fought back quite convincingly, emphasising that price is still in an oscillation. Below is the 4 hour chart and we can see the convergence on MACD followed by a double/triple top in close proximity to a RN was the catalyst. Price shot up to the R Line and VI cluster broke through but has since reversed back in the direction of the major trend! When price is moving sideways one of two things can happen, that is either a break out Long or Short! As SM we can never second guess what will happen next but we can stack the edge in our favour. We of course want to go with our friend and also looking at the daily we can see that Friday's bar was a doji and we are still being given a fake signal on Stochastics. However, do we need to be concerned with MACD?!

I will leave you to do your own analysis! We may have an interesting week ahead!

Thomas Edison said "Many of life's failures are people who did not realise how close they were to success when they gave up!"

Total Abundance is your Birth Right

Zaheer Anwari

New Week, New Currency

Good Morning Dynamic Traders

I hope you had a great weekend and that the bad weather didn’t affect you too much.

I have decided to follow the Aussie Dollar this week. As always we will get familiar with the currency and then throughout the week we can break down the price action a bit further.

As you can see from the day chart below, price has been in an uptrend for many months now. The trend has been fairly healthy with price carrying out breathers.













I have drawn in a trend line and will explain in tomorrow’s update how we could have made some profits recently using the trend line.

Until tomorrow, Happy Trading

Richard Monnery