I Spy A CADCHF Pivot?

Good afternoon ladies and genltemen

Another beautiful Spring day here in London. After yesterday, I thought the beautiful weather we had on Tuesday was a one off but not so! Long may it continue!!

So to the CADCHF and on my last up date price had broken through a S/R level and I said that for me to go into this trade I would like to see a pull back and for me to then enter in on the following BOB. Today's action has done just that with short term traders and day traders posibly scared of losing profits and hence cashing in. As SM we know that this is normal market action when gong with our friend the trend. However, with our knowledge, tools and money management we can see the bigger picture and look to take maxium profits with mimimum effort and maximum discilpine. Below I have the daily chart and we can see that price has now dropped to restest the S/R Line and in doing so has created a pivot and a possible SM entry point assuming prices reverses and continues with the trend. The confluences and indicatiors that I personally look for still say I have the odds stacked in my favour. However, will the market agree and behave accordingly or will we see a further pull back. All we be revealed with time and with a little patience.



Please do your own analysis.

"Keep believing in yourself!"

Total Abundance is your Birth Right.

Zaheer Anwari

Round Up Time

Good Morning Dynamic Traders,

We’re not far from the weekend now and I hope you have had a great trading week.

I’m kind of getting a little bored of following the GBPUSD so I thought I would round up the progress on the GBPUSD and move on to something else.

In the day chart below you can see that price has only just begun to fall again. Admittedly it has dropped far, but it definitely isn’t climbing now. This is the exact reason why I said a long position was not on the horizon just yet, and that a shorting position is still more favourable.
What this also means is that price is in a range and a fairly large range too.













Personally my approach which I have mentioned on a previous update is to wait for price to break below the RN 1.4800, before I take a shorting position. This means that price would hopefully be out of the range and be able to drop to easier. As you can see from the day chart above this does mean that I will have to be patient as price will have to drop a far distance.

Before I sign off I would also like to recommend along with Zaheer’s suggestion of the CADCHF the EURUSD. These are crosses that are sitting on my watch list.

Hope you all have a great, I mean Outstanding day.

Carpe Diem

Richard Monnery

The Story of The Generous CADCHF!

Good evening ladies and genltemen

First of all apologies for no updates for about a week now. I have had technical issues loading up images but have managed to sort it out so normal updating can hopefully now be resumed without any more hassles!!

The weather here in London was pretty amazing and helped us to ease back into regular lives after being spolit with our 4 day weekend. I am sure like me you all managed to pack away a little more chocolate in the form of eggs than usual but that's what the Easter weekend is all bout. My mentor will argue that everyday is Easter as said by a true chocoholic!

So for the next set of updates I thought I would follow a chart that was on my watch list but one I did not take as I was at my maximum risk exposure. However, after today's action I am risk free on some trades and am now looking to open up new positions as they arise. Below is the daily chart and we can some solid bullish strength in the market over the last two days. I would have been triggered into this trade yesterday at 1.0552 and would now find myself in profit of around 140 pips. With today's action I would have been around 50 pips away from being able to move my stop to break even but that's life and I was disciplined to stick to the maximum exposure in my Trading Plan. Additionally, today's bar has actually broken through a strong S/R line as well so for those who missed this initial set up, a little patience will be rewarded with another set up assuming the market continues in it's bullish ways!

The market has been moving upwards in a fairly regular fashions since breaking through the VI. It initially found some resistance around the strong RN but eventually broke through. The recent consolidation period has yielded a huge break out which generally suggests further movement in the break out direction, in this case long. I am now waiting for a pullback and another break out before applying the ESLT to maximum effect. Looking at the indicators, the VI is heading up and Stochastics is also looking good! I will leave you to look at the rest!

As always please do your own analysis.

The quote for the day is "Opportunity does not knock only once; it knocks every single moment of every single day for every single one of us!" Spot on!!!

Total Abundance is our Birth Right!

Zaheer Anwari