Hello dynamic forex traders,
I hope you enjoyed your weekend and spent some time preparing for the trading week ahead.
The CADJPY recently passed the VI after convrgence of MACD on the daily time frame. This has now been added to my watchlist and for those new traders looking for an entry, go down to a smaller time frame to establish a low risk position but as always beware the traders remorse.
Todays forex trends chart taken from the Dynamic Trader Trend Analyser is below for your guidance.
You can read Javid's forex update on our sister forex blog.
You can read Richard's update on our other sister forex blog.
I wish you all a good trading week.
Anne Chapman
Currency Analyst
Hello dynamic traders,
As you may already know, some of the major pairs are in a consolidation phase so I though we could look at the Dollar Index to see what is going on.
The Index has been in a decline from the beginning of March this year and demonstrated an almost accurate measured move in the pullback later the same month. After reaching it's previous resistance level it promptly continued it's move to the VI. After breaking that with a flag and continuation to another almost accurate measured move a consoldation has ensued. This consoldation has given us a triangle formation and this morning the last price as you can see from the chart below has broken the lower support level but as you know this could be a fake breakout.
If the Index has indeed broken out and continues the slide down we have support in the 7800 zone and to the upside we have resistance in the 8200 zone.
Watching this Index will help us in analysing the majors.
Chart of daily Dollar Index below is by courtesy of Advanced Get and the data is provided by eSignal.
I would like to congratulate Prakash for last weeks excellent trading. Very well done and you have every reason to be very happy with yourself.
You can follow me on Twitter here.
Good trading...
Anne Chapman
Currency Analyst
Good morning dynamic traders,
The Dow Jones has been in a decline since October 2007 and from March 2009 this market has bounced. More recently it tagged a resistance point and has again started to decline postMACD divergence.
If we examine the daily Dow a little closer we can see that a head and shoulders has formed at the VI. Right now we are close to the figure but if the decline continues short term then we might see further weakness of another 500 points. Beyond that support we have room for another 1000 points.
This will be a concerning time for the Dow and the S&P is not too disimilar so let's wait and see what develops here as of course this could be some form of profit taking. Why not study the chart and make up your own mind.
Chart courtesy of Advanced Get. Data supplied by eSignal.
Javid Shaik
Forex Analyst
Good evening dynamic traders,
Now that last weeks NFP is behind us we can get back to normal trading again although we still have UK bank rate to contend with later this week.
The GBPUSD has provided gains on the long side over the last couple of months and is now in consolidation. Although forex is renown for it's big trends, trends occur based on certain factors such as how well the country is performing against it's counterparts or how many have been made unemployed this month or what the current interest rate is. Fundamentals has often played a big role in directing the price and this is usualy the case at times like now where the GBPUSD is waiting for some form of guidance. In the end the guidance will be provided by either the bulls or the bears but right now they are fighting amongst themselves with no real belief in their cause. That may change later this week where the price could perform a breakout for a continuation or reversal but it could always stay in it's comfort zone and bore us with some further consolidation above the value index.
The Dynamic Trader members who are not already in this position will know what needs to be done here and should act according to what Javid has shown on the forex webinars.
I was going to attach one or two screen shots of the GBPUSD but as it is moving sideways I thought instead I will put up a few photos from yesterdays day out at Wimbledon. We have more than 200 pictures from all three of yesterdays games but I took the first few of the bunch only so not to inundate this blog with tennis.
There were a few famous faces in and around the Royal Box.
Sue Barker interviews a few legends.
Warming up for the Women's final.
Hope you all have a profitable week.
Good trading...
Anne Chapman
Currency Analyst
Good mornig dynamic traders,
Here are todays forex trends.
Forex Trends taken from the Dynamic Trader Trend Analyser
Javid Shaik
Forex Analyst
Good evening dynamic traders,
It has been another busy week for us which has again prevented our consistent updates. However, I know you will have all benefitted from the updates from the Dynamic Trader bloggers on our other forex blogs www.fxcps.com, www.fxcps.co.uk and www.fxcps.eu
Today I would like to mention what I think regarding the Loonie. This pair looks to be getting ready for a position from it's recent move. Use our two legged extension to check for the initial current target. If an entry is on the cards then use the methods shown exclusively on the Dynamic Trader forex webinars to take a position on the right side.
Do not forget tomorrow the price could be affected by the CPI and Unemployment Claims. This will be a good guidance for direction too.
Below is today's forex trends.
Forex Trends taken from Dynamic Trader Trend Analyser
Good trading...
Javid Shaik
Forex Analyst
Good evening forex traders,
Further to yesterdays webinar analysis we can see today at the time of writing this update the GBPUSD has rallied 250 pips and the USDCAD has dropped 139 pips.
I am hoping this has shown you all the zone of reversal and the effect it sometimes has. The basic analysis demonstrated was to provide you all with simple techniques you should all look to implement. This is a very simple method of making money from the markets.
Many of you have emailed regarding questions since yesterday and I have not had the time to reply to all of you as yet but I am still going through them and will get back to you all by tonight.
Below are todays forex trends.
Forex Trends taken from Dynamic Trader Trend Analyser
Javid Shaik
Forex Analyst
Good evening forex traders,
It has been one extremely busy day for us and I am not talking about the markets. I was hoping to do an update this morning but this is the earliest I have had a chance to do one. As a result of being so busy since we have been back from our road trip, we have decided the next few days of this week, all emails and calls will be put on hold and dealt with from Monday at the earliest and not before then so please be patient.
The currency markets seemed to be taking some profits today and is also gearing up for some big news this week so we have witnessed some intraday pullbacks. This is normal behavior as has been pointed out previously. Below is the chart for todays forex trends.
Taken from Dynamic Trader Trend Analyser
While talking with Roger today who I am sure will become an excellent currency trader in time, I realized a few things while going through his notes from our one to one training. Roger's colour is green and subsequently he assimilates information in only the way greens can do. I went through his notes from our mentoring today and noticed how crystal clear it was. No waffle, just clear precise points. It was as if the whole two days was one big trading plan for him. That explains how he managed to pick up two strategies so easily and quickly.
Roger has an affiliation for Double Deviation and 123's and it seems to be a favorite amongst many of you and for good reason. However, a stumbling block I have found many traders face is a subconscious need to be right when the market does not do what they were expecting and then what takes place is a period of torturing data to se why it did not do what they were expecting and subsequently self sabotage. This is a cycle majority go through and as a result miss the obvious set ups and end up taking the obscure set ups. Trading is not easy, if it was everyone would do it and of course that is not the case. However, trading is not difficult but what is easy to do is to make trading more difficult than it is and end up feeling lost. Roger has the right idea, he kept it very simple and my advice is that is what you should all do too.
Life is complicated enough without bringing it into your trading.
Javid Shaik
Forex Analyst
Good morning forex traders,
The EURGBP has been bearish for a few weeks and now could be showing further signs of weakness. The break of C4L could be the catalyst for further downside but watch out for traders remorse.
The USDCAD is still showing bearishness despite the previous daily candle formation. We may see a pullback short term though.
Although Gold has reversed a little yesterday and today, our model is still showing bullish signs.
Crude oil is still bullish according to our system and is likely to tag as per our original analysis of the $70 region. Since the webinar crude oil has climbed to 600 points profit.
Today's forex trends are below. You can click the table to expand it.
Good trading.
Javid Shaik
Forex Analyst
Hello everyone
As I think most of you will know by now, we have been away for a few weeks on a shortish road trip around Europe. We started in Germany before heading to Austria followed by Italy then South of France. With so much travelling our only drawback was not the miles being covered but the lack of consistent internet connection for our trading. We did get to manage positions at some of our destinations though.
View from our helicopter ride over Monte Carlo.
Pilots view of the mountains in South of France.
View from one side of our room balcony in Italy.
View from another side of our room balcony in Italy.
We have taken hundreds of pictures and plenty of video footage but have limited this update with just a few pictures so as not to detract from the upcoming trading week.
As Javid mentioned some weeks ago on the forex webinars, USDCAD short was a good trade to take and GBPUSD at the same time was also good long position to consider. Both have provided excellent profits so far. We could see a pullback soon so it will be worthwhile paying some attention to these positions this coming week.
We have also mentioned about a potential Gold bullish period some weeks ago and this too has produced some good points. If Gold was to break the previous 1000 resistance convincingly then we should prepare for further bullish activity. If Gold cant find the momentum to break the strong resistance then we might find further range bound activity or a double top scenario.
Our system has shown the FTSE 100 has been bullish since mid March and is now approaching a strong resistance zone so those of you who trade this Index should be aware.
Here are the trends for the main currencies below as of Sunday afternoon.
Dynamic Trader Trend Analyser.
Good trading.
Anne Chapman
Currency Analyst
Good morning currency traders,
Apologies, this forex blog has not been updated for a while due to our short break. We decided to do a road trip through Europe and stopped off in Germany, Austria, Italy then Monte Carlo covering short of 2000 miles. We had lovely food in Germany and outstanding views in Austria and Italy before spending time in Monte Carlo which is one of our favourite places. Some friends decided to come down for a few days that made it all the more entertaining.
In Austria and Italy we were 5000 ft above in the midst of the mountains and lakes with complete serenity. We have decided to revisit Italy with two more trips in November and December this year. Talking last night we are now contemplating another road trip for two weeks in June before the schools are closed. I am looking forward to it already even though we have just come back. Every jobs has it's perks and I suppose one of the perks of trading is the ability to do it from anywhere. Anne will put some pictures up next week from our last trip.
Since mentioning the USDCAD short to those of you on our webinars, this trade has dropped 6% profit. Across the board we have accumulated in excess of 1500 pips. May has been another good month and now it is time to look forward to June.
I was asked a question a few days ago regarding Elliott waves and thought I would answer it in more detail for everyone on line.
Do I recommend the use of Elliott waves?
Elliot waves are great after the fact for confirmation of your original thoughts but throw up too many signals which often serves to confuse. They are good for writing newsletters but the lack of accuracy and high degree of subjectivity is a hindrance. However, implementing Elliot waves with other confluence of events will be more helpful.
Those of you who took the Gold long position I pointed out should look to manage it now. This trade is in 50 points profit at the time of writing.
Below is today's trends identified for your trading. Click the image to expand it.
Good trading.
Javid Shaik
Forex Analyst
Good morning forex traders and welcome to another week of trading.
I would like to start by thanking all the Dynamic Trader bloggers for their time and effort. It is appreciated tremendously not only by myself and Javid but also by so many of our forex blog readers as described in their emails.
Last week provided some good pips overall and lets hope this week will be even better. The Euro could be having a breather before a possible continuation so I will be watching this pair for a move either way.
The USDJPY is finding resistance so it could continue further downside. Dealing below 96 will likely be strength in weakness.
Watch AUDUSD for resistance and subsequently possible reversal or consolidation.
Javid's Twitter has already mentioned the CHFJPY late last night and this morning is being managed.
Below is the Dynamic Trader Trend Analyser for your trading convenience.
www.fxcps.com
www.fxcps.co.uk
www.fxcps.eu
Follow Javid on Twitter
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Good trading to you all this week.
Anne Chapman
Currency Analyst
Good morning dynamic traders,
We spent Saturday at Silverstone in our latest car BMW M3 and cooked the brakes so today are having to try and organize racing brakes to be fitted into the car in time for our next driving day this coming weekend.
Focussing on the week ahead, I have attached the forex trends for your convenience.
I am waiting for a set up on GBPCHF cross. The GBPUSD hit our target and has travelled down since then. The Cable is close to a support zone so those of you shorting this should watch out for that.
Good trading.
Anne Chapman
Currency Analyst
Good morning dynamic traders,
Spent Monday and Wednesday with a personal shopper and today organising everything so have not had much chance to trade too much this week but those of you that know Javid will know he is not too far away from computer access for too long and as such still managed to continue his trading this week.
As I am busy today and tomorrow I will not be trading the rest of this week but thought I had better still give you the forex trends for the remaining of the week.
Here are todays forex trends for all you dynamic forex traders.
Good trading.
Anne Chapman
Currency Analyst
Good morning dynamic traders,
We are at Mclaren all day today and are both looking forward to it very much. We will get to see Lewis Hamilton's car and are test driving the MClaren SLR.
Before that I would like to give you all the latest trends for the forex market.
I am long NZDJPY from last night and locked in profits this morning. Javid and I have opened a long position on AUDCAD but not managing it yet.
Visit our other blogs below:
www.fxcps.com
www.fxcps.co.uk
www.fxcps.eu
Follow Javid on Twitter
Follow Anne on Twitter
Good trading.
Anne Chapman
Currency Analys
Good morning dynamic traders,
I would like to start off by saying thank you to a couple of friends for dinner yesterday.
The GBPUSD is in an uptrend and getting close to the big figure so watch out in case we get a U-turn. The USDJPY is also continuing the upward breakout so I think we may see one of these two changing it's direction soon even if it is temporary.
Todays trends are shown below.
Good trading.
Anne Chapman
Hello everyone,
Some of you have been asking about our track days so I have added a few pictures from our latest event.
As you may be aware, both Javid and me believe the best way to learn anything is to learn from someone who already does it and so over the last few months we have been taking lessons from Steve a professional driver who has entered and won many competition races.
With the techniques we are learning, we have started to overtake cars that cost 4 times as much and have more bhp than our HondaType R. This is primarily as a result of the lines we take through the corners at much greater speeds than would be taken on everyday roads. Without this training we would be lagging way behind.
Looking forward to our next track day event.
I will update with this weeks forex trends tomorrow.
Good trading dynamic traders.
Anne Chapman
Currency Analyst
Good morning dynamic traders,
We have NFP due out today so remember to deal with your trades accordingly as per your forex training. Below is todays currency trends.
Good trading.
Anne Chapman
Currency Analyst
