Latest On The Loonie!

Good afternoon ladies and gentlemen

Almost at the end of the week. Weather is just bout holding strong. A little overcast today! A bit like trading in many ways. Instead of the bulls v the bears we had the sun v the clouds today. Strange how everything seems to relate to trading!! Must be an obsession! Is that such a bad thing?!?! Not when you are good at it!!

So to the Loonie and we can see that there has been quite a big of action since Monday although not in the direction I would have liked! Having said that, price action since yesterday has come back in my favour. Below is the daily chart and we can see that after the break out last week, price was pushed back into the S and R Zone on Monday with some aggressive buying. We are at a psychological Round Number so this indecision of the Bulls fighting against the Bears should be expected. The question is of course how long can this go one for? And the answer is of course until the market forces decide otherwise. The second question is of course which direction should we expect the break out of this range to be and again the answer is not in our hands. However, we know that we can favour one direction over the other with the correct education and analysis, in this case favouring the Bears!

Looking at the indicators, Stochastics is no longer giving a fake signal which should be expected at times if the market is in a period of consolidation. However, the VI is still looking good!




As always do your own analysis.

I will leave you with this quote "Thriving, not surving, is our default setting."

Follow my fellow bloggers on http://www.fxcps.com/ and http://www.fxcps.co.uk/.

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Total Abundance is our Birth Right.

Zaheer Anwari

Round up on the Loonie

Morning Dynamic Traders.

I would like to begin this morning with congratulating Saba for reaching her Milestone. I have been meaning to pass on congrates all week, but ended up getting carried away with my update and answering riddles. So well done Saba!

I hope you all had a good weekend and ready for another week of money making.

Today I am going to conclude the week of following the Loonie. I hope my last update helped you all to see ways of trading the Loonie last week, and I hope you are able to use it and put into practice on future trades.

The Loonie had an interesting week. We saw start in a bullish manner and then weaken halfway through the week and then ending with another bullish attack. We had a few opportunities to make money also, but the fun hasn’t ended yet. I’m going to sign off the Loonie with a question that I will revisit in a couple of weeks.

Question “What will the Loonie do next?”

Here is some food for thought.

Below is a daily chart. I have highlighted some important facts that might help answer the question.














The divergence, resistance line and RN are 3 very important facts of where price could be going. There are other signals see if you can spot them?

Keep in mind that the Loonie is still offering pips to catch, and once its decided where it wants to go, a lot of money will be available!

Happy Trading

Richard Monnery

How make money with the Loonie?

Morning Dynamic Traders

Yesterday the loonie tried to recover some lost ground from Wednesday, but with the way things seem to be shaping up this morning it doesn’t look good.

We did have signals of the price changing direction and moving up, which I have demonstrated in the 4 hour chart below. As you can see price came down to a Fib breather level and with the help from the RSI and Stochastics who were both showing buy signals price then increased.














Here is how you could have made money from the Loonie being in a range. With price at a strong RN and Resistance level with divergence from the MACD you should be getting ready for a short position. The short position ended when price came down to the Fib breather level. At this point we then get ready for a long position and use the BOB technique to enter for a long position. From the chart you will see that price ran out of steam when it arrived at another RN.

With the Loonie being in a range we had 2 days to make a possible 200 pips. This would have needed a lot of care and attention, but never the less very easy money as my analysis was very simple.

If you did manage to capture some profits very well done to you. I will conclude the week on the Loonie on Monday.

Hope you all have a good weekend.

Happy Trading.

Richard Monnery

Is the Loonie starting to feel the burn?

Morning Dynamic Traders

Looking at the Loonie yesterday we can see that price had fallen back to where it began on Monday. At the end of my update yesterday I said “from looking at some of the indicators it looked like the fight was taking its toll” and I was right.
I will go through some of the signals, if you haven’t already been able to see them.

Below is the day chart. You can see that this is the 4th time that price has made an attack at the resistances line and failed. This clearly indicates the strength of this resistance line, which is also at a very strong RN. We also have MACD divergence. So far from one chart we have 3 confluences of events supporting my theory from yesterday that price would be going down.

Below is an hour chart and you can see the same MACD divergence that’s on the day chart, also on the MACD we had a sell signal, and after that came the big drop in price.

Tomorrow I will show how you could have made money on the Loonie fighting to get out of the range.

Today like everyday this week the Loonie has started strong. Will the Loonie continue to fight or will it drop further in price? I look forward to finding out tomorrow what happens today, and for our next riddle?

Happy Trading

Richard Monnery

Loonie still up for the fight.

Good Morning Dynamic Traders.

What an interesting day the loonie had yesterday. The large red candle we were met with yesterday morning is no more, and closed 1 pip from where it started. This is showing that the price is not ready to give to up, and could be trying again to break out of the range.

Below I have used a 15 minute chart to help explain the events of Tuesday. I have marked the candle sticks for Tuesday and you can see we have divergence and convergence on the MACD (marked out in green arrows), these are indications when price changed direction.














On the hour chart below we have 5 reversal candle stick formations, which also indicate to us when price is changing direction.














Today could be an important day for the loonie to see if it does have the potential to finally break out of the range, but from looking at some of the indicators this morning is the fight taking its toll on the loonie?
Only time can tell.

Till tomorrow,

Happy Trading

"Go on the Loonie"

Morning Dynamic Traders.

I would like to welcome Zaheer and thank him for joining me on this blog as I was beginning to get a little lonely. I hope he has as much fun doing the updates as my fellow bloggers and I do.

I have chosen to follow the USDCAD this week. I have chosen this pair because it has been in a range recently and it looked like it was about to challenge the range and breakout of it, until this morning with the arrival of a bearish candle.

Below is the daily chart, I have marked out where the range is. From looking at the chart is looks like price is trying to climb, but finding some very strong resistance at a RN.















If you had a long position open within the last 2 or 3 days, your warning signal about change in price would have come from the RN on the daily chart and divergence from the MACD on an hour chart.

If you’re now wondering, why you would have a long position on the USDCAD below I have posted daily chart again, showing the reasons for a long position. Price had come down to a fib cluster at a breather level, and the confirmation came in with a buy signal from the Stoch.














Although price is in a range it doesn’t mean that money can’t be made.

Tomorrow we will find out if price is currently chilling out before fighting the resistance again or whether price has been beaten and will fall and continue its journey in a range.

Till tomorrow,

Happy Trading.