EURAUD Signing Off!

Good evening ladies and gentlemen

The weekend is upon us. I hope it has been a productive week!

Let's put some closure on the updates on the EURAUD by seeing how price has ended the week. Next week I will change currency!

Below is the hour chart and on the last update price was doing a possible reversal chart pattern at the VI! That is exactly what happened and subsequently price has dropped back down and to the S Line where is has found comfort to the end the week.

Well what next? Looking at the bigger picture some traders may see a convergence on MACD with price now doing a triple bottom. Yes that maybe the case and what happens next will only be unveiled when the market makes its move. However, I am more inclined to go with the Trend and would favour a break of the S Level and further moves South. After all, S and R Lines are there to be broken!!

If going against the trend, I would say that your entry needs more consideration than going with the trend!!

I bid you all a wonderful weekend and will leave you with this thought "Aspire to climb as high as youcan dream!"

Total abundance is our birth right!

Zaheer Anwari

EURAUD Retraced or Reversed?

Good afternoon ladies and gentlemen

Half way through the week and I hope it has been a great one so far. Another lot of snow today but let's not let our profits fall the same way!

As I stated on my last update on the EURAUD, I felt we may see a potential retracement forming and below on the hour chart we may be seeing just that. Price has retraced a fair distance to the 200MA and could be now doing a reversal chart pattern such as 123886. This may give price the momentum to drop back down to the S Level and ideally push through it! I would like to maybe have seen a mini divergence on MACD but none the less a 123886 Top usually holds strong in a downtrend. We still have the fake signal on Stochastics and today's bar may end the day showing potential reversal. We still have the edge in our favour and just have to wait to see how price behaves until tomorrow!!

I will leave you with this quote by Mark Twain " The dictionary is the only place where success comes before work!"

Total Abundance is our Birth Right

Zaheer Anwari

Quick update on the CHF

Good Morning Dynamic Traders

I am still undecided which currency to follow, so I thought I would provide a quick update on the Swissy.

The trend on the CHF is currently down, which means that a shorting position is more favourable than a long position.
Price has recently performed a pull back and if you look at the day chart below you see that the pull is fairly large.













This isn’t actually a bad chart to put on your watch list. The more cautious trader wouldn’t take any action until price has broken below the RN and the pivot low (which I have marked on the day chart above).

However if your analysis has lead you to believe that price will gain in strength rather than continue its down trend. The more conservative trader would wait for confirmation of this reversal with a reversal chart pattern of some kind. You would also want to wait for price to not only break the recent pivot high but also to break the VI.

Whatever you decide to do, make sure you always carry out your own analysis.

Happy Trading

Richard Monnery

EURAUD Strength to Shatter Support?

Good afternoon ladies and gentlemen

I hope you are all refreshed and ready for another assault on the markets after a great weekend break. With the first NFP friday of the year out of the way, we have the rest of the month ahead to take as much SM profit as we can.

So sticking with the EURAUD from last week, price action fell quite steeply in the opening week of trading. I am currently in excess of 300pips in profit. However, with NFP out on Friday price may be in it's first period of retracement. As we know Price never drops in a straight line. When trending, there is a move and then a retracement and then a further move in the given direction. In our case, that is Short! We accept this as normal market conditions and do not deviate from our Trading Plan. This would allow emotions to be getting the better of our trading. Being SM and mechanical and technical traders we know better by now!!

Below I have the daily chart on which I have scrolled back to the beginning of 2005. Currently Price is sitting at a Strong S Level, which was last broken in 2000! Price back then did not break through convincingly and infact reversed. Today's bar is so far a spinning top. Price tested the S Line and has since reversed. So what can we expect this time? Well the market does what it does and we can not influence that. However, we can stack the odds in our favour. The VI is still heading down, MACD is below the midline and Stochastics is giving a fake signal. And most importantly we have the trend!



I will leave you to do your own analysis.

I read this quote earlier today which has been stuck in my head."Let the dreams of today determine the opportunities of tomorrow!"

Total Abundance is our Birth Right

Zaheer Anwari

Struggle on the Yen

Good Morning Dynamic Traders,

Hope you all had a great weekend. Fingers crossed that the worse of the weather is over now.

I think this might be the last update on the Yen as there isn't too much to report. You will see from the day chart below that price is really struggling to beat the VI, which doesn’t really come as a surprise. It is because of this I have decided to maybe leave the Yen and follow another currency, as we don’t have an entry anytime soon.













For those of you that may look at the Yen for a trade, patience will be important. As always it depends on what kind of trader you are and also what strategy you plan on using. For the more conservative trader a short position would only look favourable if price was too break below the pivot low marked on the day chart above. A long position would only look good once price has performed a break above the VI.

As always make sure you carry out your own analysis.

Happy Trading

Richard Monnery