Daily FX | Dynamic Trader Blog

Looking for an opportunity

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

Yesterdays Analysis

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

Weak EURGBP

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

Back from holidays

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

Short break road trip

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

Nice moves this morning

Good morning forex traders,

Hope you are also looking forward to another trading week. Looking throught he charts last night I opened a long on NZDJPY and this morning a short on the USDCAD. Both are in profit at the moment.

The Cable is looking strong this morning and moved up with some good bullish bars overnight. The Euro is following a similar pattern to the GBPUSD.

The NZDUSD has just broken out to the upside and also looking bullish but beware the head fake possibility.

I would like to congratulate Clayton Farnworth. As of Tuesday he will be a full time trader leaving his joinery job behind. Good luck for your future Clayton.

Visit our other blogs below:

www.fxcps.com
www.fxcps.co.uk
www.fxcps.eu

Follow Javid on Twitter
Follow Anne on Twitter

Javid Shaik
Forex Analyst

Congratulations Dynamic Traders

I am so pleased after seeing so many of you last night having good winning trades after Javid's update. It has made us even more determined to have more of you trading with success.

The USDCAD pair is still one to watch as it still has some energy to give us even more pips. Wait for the set ups though, don't go in blindly and don't get too carried away with previous wins. It is easy to get carried away after a few winning trades and I have a solution for anyone who after a series of wins think they are invincible. Go crazy for 10 seconds! No I mean it, go off the hook. Jump up and down with joy, sing and laugh like a mad person, high five the cat and kiss the dog but then once the crazy 10 seconds are over, come back to earth and plan your next trade. Always take out any emotion before your next position.

Another currency to watch is the CHFJPY. Again, wait for the next set up but this too looks likely to pay out more soon. Our 3D strategy yesterday on the CHFJPY provided over 200 pips.

Don't forget to check out www.fxcps.com/blog and www.fxcps.co.uk/blog for further forex analysis.

Have a good dynamic trading forex week.

Follow me on twitter.

Anne Chapman
Currency Analyst

Forex set ups

Good evening dynamic traders.

What a cold weekend it has been and it is set to get colder during the week. I think I will certainly be having lie-in in the mornings this week. Although tomorrow we have an advanced driving day so I will have to get up earlier than usual but Tuesday onwards I am focussing on waking up after 9am.

Moving on, I wanted to just share some potential set ups with you all. I have not put any advanced get charts up but I am sure Javid, Bijal or John may touch upon these in the coming days with some charts.

The first chart is the USDCAD pair. This is certain to provide profits very soon so watch for a breakout or reversal on this.

The USDCHF is at an area of resistance but it seems to have broken through previous resistance zones in the past week. However, 1.23 is key so watch this level for a continuation or reversal.

The next currency I would like to share with you is the EURGBP. A confirmed break above 8600 or below 8200 could see some movement allowing profits to be had.

Last is EURUSD. Although not in a position to enter, this should also be one to watch as we may have a 123886 creation but right now it is in a range so some patience maybe required.

I hope you all manage a prosperous dynamic trading week. Please don't forget to check out our other forex blogs. You can click the links below if you have not already saved them in your favourites.

FXCPS.com by Bijal

FXCPS.co.uk by John

Follow me on Twitter

Follow Javid on Twitter

I would like to congratulate those who have used our 3D strategy in the last few weeks and walked away with some nice profits. Well done and continue your dynamic trading style.

Good Dynamic Trading...

Anne Chapman
Currency Analyst

Manage Your Forex Trades

Good evening forex traders.

Those dynamic traders that had taken my trading suggestions from yesterday on the USDCHF and USDCAD will be sitting on very good profits this evening.

As of 7pm Wednesday (almost 24 hours later) the USDCHF is 200 pips in profit and the USDCAD is 450 pips in profit giving a total of 650 pips for the day. Now is the time to manage the trades and scoop profits while keeping the runner in tact.

Below are the USDCHF and USDCAD charts and you can see from the previous days fx analysis how todays bar has played out.

Good forex trading..

Currency Analyst
Anne Chapman

Shorting USDCHF & USDCAD

Hello dynamic traders.

I am short on the USDCAD and USDCHF as of Tuesday. Both of these are looking good and are already in profit. FIrst position on the USDCAD is already scaled out and now the runner is the only position remaining. Both positions on the USDCHF are still open at present.

Below are the daily charts of USDCHF and USDCAD from Advanced Get. Note the figure and divergence on both currencies.

Read the Daily FX Blog.

Good forex trading.

Currency Analyst
Anne Chapman

Loonie Triangles

Welcome dynamic traders.

The USDCAD is in a triangle pattern just below a resistance from a previous support level and also the figure. Slightly above that we have the 200 moving average. In addition to the confluence of events there is also a fibonacci 0.618 level and of course the trend is already to the downside.

Wait for the signal to enter a breakout or a reversal. Note the chart shows weekly USDCAD and unless you are position trading forex, you may consider adjusting your analysis to a different time frame.

I have also added a photo of Central Park towards Midtown Manhattan taken from the helicopter.

Javid's forex blog.

Currency Analyst
Anne Chapman

Loonie Uptrend

Good morning Dynamic Traders.

The USDCAD as shown on the 4 hour chart below is in an uptrend but it is not far from a resistance level. If we break out of the channel then teh support levels I have identified should be noted. Don't forget though, we have been in an channel since December 14th 2007 on the daily chart so trading on a smaller time frame is based on smaller trends.

Click here for more Dynamic Trader forex analysis.

USDCAD Advanced Get chart analysis. Data provided by eSignal. Click here to read more about Advanced Get.

Forex Analyst
Anne Chapman

Dollar Canadian

The USDCAD seems to have been halted in the upward trend.  It has hit a fibonacci level and ellipse and the weekly chart shows signs of weaknes in the way of a candle reversal.  The pair has broken below the regression trend channel and we now need a trigger to enter this trade.  The chart below shows the USDCAD daily.

Chart courtesy of Advanced GET. Data provided by eSignal.

Loonie Bounce Halted

The USDCAD has bounced in the last few weeks as we had expected and the bounce has been halted by the 1.0000 resistance, also as expected.  The pair is at a very interesting point where we could see it either continue in it's uptrend and break through the figure or fail and reverse back towards where it came from.  Either way, if we have not had a direction taken up in the next few days, we should have by Friday.  NFP should give us a clue as to which way this pair wants to head.
Below is the weekly USDCAD chart. As you can see it has hot a fib level and the figure providing us with a confluence of events for a possible reversal.

Javid Shaik & Anne Chapman

Chart courtesy of Advanced Get. Data provided by eSignal.