Yen over the top !

Good Evening / Morning Dynamic Traders

"Better to have tried and failed, than not tried at all"

Cross = JPY : Day Chart (Posted Below)

Another move up today of around 140 pips, with price pushing through the value index. Early noise in the price is showing a reversal which would be expected, having moved up for some 4 days without breath.

Do we have a pullback or breather ???

Patience will tell. Key news on USD Friday

Stochastics are OB with false signal, MACD above signal line and zero line

RSI strong @ 79.96 and still trending up

I hope you learned much following the YEN this week and look forward to speaking to you all on Sunday night.















Courtesy of Advanced Get / E Signal

Trade with Passion

John Maher
Forex Analyst

Check out our other blogs

http://www.fxcps.eu/
http://www.fxcps.co.uk/blog
http://www.fxcps.com/blog/

Reviewing the Aussie.

Good evening Dynamic Traders,

Tonight I am going to review the Aussie from last nights post as a shorting opportunity did not arise but instead we got a push up through the Australian Dollar positive news.

However as I write this the last completed candle on the 4 hour timeframe chart below looks to be a triple top that missed the V.I. by 3 pips. Nothing much has altered from last evenings blog in regard to the set up forming but is in a much stronger position for an aggressive trade South as more confluences are coming together. In fact as I write I am going to enter this trade off my 15 minute timeframe now.
Price action today has revisited the breather level again which did offer resistance once again.

More confluences are in evidence now so I will leave you to find them for yourselves whilst doing your own analysis. A good result from last nights analysis is that we waited till after the news of last night as it was not in as good a position but as mentioned earlier in this write up things are better and so I am now in the trade.

My next update will be on Monday evening so I hope you all have a fantastic Fridays trading and a great weekend.

Charts courtesy of TradeStation.

Good luck.

Clayton Farnworth.

The Yen,The Yen and the Yen !

Good Evening / Morning Dynamic Traders

"Better to have tried and failed, than not tried at all"

Cross = JPY : 60min Chart (Posted Below)

Another profitable day on this cross, with many taking profits, keep your pips, give me more ?

Early indication is a continuation of price in its current trend, pointing towards the retail index and major resistance and BIG RN 100.00

On RSI if price could stay at the moment if above 65 would give a healthy run

MACD is below our entry and wanting a deduction on price ! with Stochastic s tweeting some noise about over bought on numerous time frames.

I have kept the 60 min chart and placed a set of trend lines which are following price, very nicely
if not predictable.

Always carry out your own analysis before entering a trade
















Courtesy of Advanced Get / E Signal

Trade with Passion

John Maher
Forex Analyst

Check out our other blogs

http://www.fxcps.eu/
http://www.fxcps.co.uk/blog
http://www.fxcps.com/blog/

The Aussie.

Good evening Dynamic Traders,

The Australian Dollar at the moment is in a downtrend as it has been heading South since July 08. After it massive move down we are now in a consolidation and at present it stands at the lower breather level with a sort of a bearish flag.

If we now go down to the 4 hour timeframe below, the recent price action from February 14th looks corrective and so I am looking for a possible shorting opportunity to develop. It has nearly tagged its V.I. on this timeframe today, and has got divergence on RSI, although it is still above 50. I shall wait to see what develops with this as high impact news is out regarding this pair throughout tomorrow but will be ready for a move should my confirmations come together.

As always please do your own analysis before taking any trades.

Charts courtesy of TradeStation.

Enjoy tomorrow's trading.

Clayton Farnworth.

Fistful of YEN

Good Evening / Morning Dynamic Traders

"Better to have tried and failed, than not tried at all"

Cross = JPY : 60min Chart (Posted Below)

Can I refer you back to Mondays blog when we first looked at this cross this week, if you remember we were looking for a large move upwards and never got it. Well it came with a bang today. Over 200 pips available for your taking today, I hope you all prospered.

After a big move comes consolidation and breather before the next move so I would not be looking for another big move as of yet.

Please not the MACD line crossing the signal line at the same time of the BOB, prior to the big move. As I write it has crossed back below the signal line.

RSI is looking to pass below 65, indicating we may have run out of steam at present.















Courtesy of Advanced Get / E Signal

Trade with Passion

John Maher
Forex Analyst


Check our other blogs, online
http://www.fxcps.eu/
http://www.fxcps.co.uk/blog
http://www.fxcps.com/blog/

The Canadian Dollar and the Yen.

Good evening Dynamic Traders,

Firstly may I apologise about not posting last night but due to internet problems I was unable to, but thankfully it is back on track and so I decided to post a possible quick term trade for tonights analysis.

As you can see from the one hour chart below we have just hit the figure recently with a possible DT formation. Please be aware however that the short term trend is up although we have been heading down since November 07.

I am looking at this short trade scenario as on the daily timeframe we have hit a fibonacci reversal whilst on the chart below we arte getting divergence at the figure.

I am looking for a quick well managed trade but if things develop well it could run.

The Japanese Trade Balance is out later this evening so I will wait until after this to get a better picture.

Charts courtesy of TradeStation.

As always please do your own analysis.

Clayton Farnworth.

The rising YEN, or falling ?

Good Evening / Morning Dynamic Traders

"Better to have tried and failed, than not tried at all"

Cross = JPY : 60min Chart (Posted Below)

Did you go with the trend or did you decide to go against it ?

Price did initially go down but started to recover from 0400hrs GMT and rallied to 175 pips to the upside.

On looking at the 60min chart you can see after the large correction in price. it is now consolidating, or having a breather before the next big move ? You can see that price is and will be squeezed until we get the next BOB.

The higher trend is still down and you will note the horizontal resistance line is proving price difficult to deal with. This line has come from the day chart of yesterday and is the top resistance line of the trend.

On checking MACD as shown, we find a dramatic fall on the histogram from the recent high and checking the support of current price an obvious Divergence. MACD has also crossed beneath the signal line, indicating weakness to price.

With this in mind, a move down within the flag is likely and a possible BOB to the bottom is favoured due to the high time frame downward trend.

Make sure you use the ESLT to enter the trade after the BOB and do your own analysis before entering a trade.
















Courtesy of Advanced Get / E Signal

Check our other blogs, online
http://www.fxcps.eu/
http://www.fxcps.co.uk/blog
http://www.fxcps.com/blog/

Trade with Passion
John Maher
Forex Analyst

Win Yen Win ?

Good Evening / Morning Dynamic Traders

"Better to have tried and failed, than not tried at all"

Cross = JPY : Day Chart (Posted Below)

I hope you all had an enjoyable week end away from the markets and are ready for another week of volatility. The forex markets have been an interesting place to be over the last 18 months as countries of the world try to sort out their financial crisis out. I was reading at the week end that more and more people are turning to invest their monies into the forex rather than the stock market. Good news for the Dynamic Trader as it will mean more dumb money for the markets to play with and more for us smarter ones to profit on.

I thought this week a visit to the JPY was overdue and at the same time remeber to keep in mind the studies we have done of late, as there is one or two trades availible within those crosses.

The JPY below shown on a day chart,has been in a downtrend as you can see from the lowering of the retail index above price, and since its low on 17/12/08 has moved sideways.

I have drawn in for you Support & Resistance lines which have given us both double bottom and top accordingly. These have tended to be predictable and you would envisage a move down in price as its next course.

On studying the RSI we find a different story. If we compare RSI vs Price on the double bottom we find convergence. Then we look at the latest pattern of double top and again we find convergence.

We have RN 94 and resistance 94.64 to use for a BOB and ESLT if price heads up as RSI indicates.

If we stick with the trend, price moving down within the support / resistance channels will give plenty of opportunities to enter the trade.

As always do your own analysis before entering the trade and use a stop loss.















Courtesy of Advanced Get / E Signal

Check our other blogs, online
http://www.fxcps.eu/
http://www.fxcps.co.uk/blog
http://www.fxcps.com/blog/

Trade with Passion
John Maher
Forex Analyst

Euro Dollar again.

Good afternoon Dynamic Traders,

I hope you are all enjoying your well earned break this weekend and are looking forward to your week of trading ahead.

Today I am looking at the Euro Dollar which I mentioned on Wednesday evenings blog. Since then it has moved up nearly 300 pips in two days, well done to those of you that took that trade.

Friday afternoons big action also took price north over the trendline from mid December and so if you did not decide to analyse this for yourselves and take the trade, now could possibly be time to look at it from a more conservative approach with ESLT.

If you then go down to the lower tomeframe ( not shown here ) you may see a pullback is perhaps coming and so a tighter entry again could possibly be determined from here, as this looks like a possible bullish flag is forming, therefore patience once again has to be applied as we have to wait for confluences to gather together to stop us chasing the trade. If these do happen then the 1.2950 area or even the 1.3200 area could be seen in the near future.

Please do your own complete analysis on any trades and be patient.














Charts courtesy of TradeStation.

Good luck for the upcoming trading week.

Clayton Farnworth.

Are you prepared ?

Good Evening / Morning Dynamic Traders

"Better to have tried and failed, than not tried at all"

Cross = GBP : 60min Chart (Posted Below)

Long Term Trend = Down : Short Term Trend = Down

Did you read yesterdays Blog ?

Did you take action ?

Those that did would have taken a slice out of the 200 pips on offer on the days candle. Do not be greedy, and leave some pips on the table for the next man.

Again using the BOB with ESLT as entry would have rewarded you well. This one trade would have helped repay your webinar course greatly, and those who follow the blog and have not done the series must ask yourself "Why ?" Contact Javid now.

You will see from the 60 min chart that price has tried to return to the fold since our gains and currently resistance has become support.

We have stochastic s at OS, RSI below 50 but currently pointing up, MACD under the signal line and on the verge of crossing down the zero line.

The retail price index is hovering above price, providing further resistance to the upwards movement, making a downward move more likely back with the trend.

As always do your own analysis of your trades.

Thank you for following the blog this week and I do hope you learnt at least ONE thing to carry forward and make you a better trader in the future.

The forex market is abundant of money, how much do you feel is yours ?

Do you REALY believe that ?

Have a great weekend, speak to you Sunday night.

Follow me on twitter, below to get instant message when the blog is updated.















Courtesy of Advanced Get / E Signal

Check our other blogs, online
http://www.fxcps.eu/
http://www.fxcps.co.uk/blog
http://www.fxcps.com/blog/

Trade with Passion
John Maher
Forex Analyst

British Pound New Zealand Dollar.

Good evening Dynamic Traders,

I hope you are all managing any trades you have open correctly as this is an essential part to your trading.

Tonights chart for you, is on the GBPNZD, and I am looking at this pair for a possible continuation to the upside, as it has hit a breather level twice after its last two upmoves and at present is consolidating with a tightening squeeze that could be about to break.

Due to the volatility of this pair I am analysing on the four hour timeframe chart and will enter of my lower timeframes as and when I get the confluences telling me to do so. At present we are being resisted by the figure but if a break does happen your ESLT can be applied so as to eliminate any F.B.O.'s

Please be aware that high impact news is out on this pair tomorrow so comply with your rules and trade accordingly.

As always please do your own analysis.

Charts courtesy of TradeStation.

Good luck for tomorrow, and have a nice weekend everyone.

Clayton Farnworth.

What goes UP, Must come DOWN !

Good Evening / Morning Dynamic Traders

"Better to have tried and failed, than not tried at all"

Cross = GBP : 60min Chart (Posted Below)

Long Term Trend = Down : Short Term Trend = Down

After been bitten by the bull candle on Tuesday 0800hrs, price oscillated and came back down some 24hrs later to where it started, providing us with a further lower low on the 60min chart. For the last 3 days between 0700-0900hrs we have been given a lower low. What will happen tomorrow morning ?

If you look at RSI, can you see that the 3 lower lows on the chart have very distinctive bottoms on the RSI, what you may not realise is that on the RSI they are not lower lows and therefore they are showing us convergence.

We are in a down trend, and looking to go against the trend which is not normally in a "Dynamic Traders" psyche.

MACD is above the signal line and on the verge of crossing the zero line.

We have resistance at present on price with a EMA, which is shadowed by the stronger retail price index.

I have drawn a parallel trend line and a BOB with ESLT would be our chosen entry method.

Please do your own analysis before entering the trade.















Courtesy of Advanced Get / E Signal

Check our other blogs, online

http://www.fxcps.eu/
http://www.fxcps.co.uk/blog
http://www.fxcps.com/blog/

Trade with Passion

John Maher
Forex Analyst

Euro Dollar.

Good evening Dynamic Traders,

I trust you are all well and managing any trades you have open well and according to your rules.

Tonights cross is the Euro against the Dollar.

I am keeping this on my watchlist for a possible long trade should my confluences happen albeit that it is still in a downward trend.

At present we have got convergence across various timeframes, OS Stochastics on some, amounst other good indications but as yet no reason to enter.

We are approaching a good figure, but be aware of your 123/DB scenarios and depending on your stance, enter accordingly.

Good luck with all your trading and remember to do a full analysis on everything.

Charts courtesy of TradeStation.

Clayton Farnworth.

Cable Tightrope !

Good Evening / Morning Dynamic Traders

"Better to have tried and failed, than not tried at all"

Cross = GBP : Daily Chart (Posted Below)

Long Term Trend = Down : Short Term Trend = Down

Having had a couple of days with profits on all trades, it was the markets turn to tell me, the market is ALWAYS right.

Trading with the trend, I was caught out with the 0900hrs 60 min candle, in one short sharp action, price moved up, taking out my profit at the time and hit my stop loss, leaving me annoyed ands out of the trade with a loss.

The trend was down, the indicators showed price down and the day candle still finished the day RED. What we had was intra day movement, related to news and will catch most people out if not understood.

On the day chart we still have plenty of air below the price and within the trend lines. We are at a RN at present, and stochastic s are approaching the "OS" area.

We have key news items out today regards this cross, please do your own analyst before entering a trade and manage your stops accordingly.















Courtesy of Advanced Get / E Signal


Check our other blogs, online

http://www.fxcps.eu/
www.fxcps.co.uk/blog
http://www.fxcps.com/blog/

Trade with Passion

John Maher
Forex Analyst

Euro New Zealand Dollar

Good evening Dynamic Traders,

Firstly, just a quick recap on last nights blog, I entered the trade at around 11 o'clock today and am now managing it with a small profit, always remember 'Patience'.

Tonights chart is on the EURNZD, but due to its volatility, I am showing it on the 4 hour timeframe.

During doing your own analysis you will see that the daily chart has today a spinning top and bearish flag pattern formation, although todays price action is not complete.

Whilst on the chart below, we have tagged the breather level, with T.J.'s elipse in evidence,
and MACD is showing divergence.

As indicated on the chart we may also have a H&S pattern forming.

Do be extra cautious shorting this as it would be heavily against the trend, but a calculated entry due to your confluences adding up could give good gains.

Always do analysis of your own before taking any trades.

Charts courtesy of AdvancedGet.

Enjoy your trading.

Clayton Farnworth.

Short Cable

Good Evening / Morning Dynamic Traders

"Better to have tried and failed, than not tried at all"

Cross = GBP : Daily Chart (Posted Below)

Long Term Trend = Down : Short Term Trend = Down

The snowball is running down the hill, and it takes a strong brave man to try and push it back to the top. The trend is your friend.

With that in mind we had a red candle today, which was lower early in the day before pulling back this afternoon.

Today's candle is red, as I write the blog, and already has dropped 95 pips.

Price is currently through a fib breather level, with RSI under 50 pointing down.

MACD has now crossed under the signal line, and stochastic s are pointing down still.

Our confluences are saying a continuation of the down trend, however be aware of key news at 0930hrs in the morning.

Welcome to our new Dynamic Traders who finished their 1st webinar last night, I am sure you will now be added to our readership of the blog and I look forward to being a help. Like most things in trading "Patience" is the key, so do not jump in to trades on the back of your 1st lesson.















Courtesy of Advanced Get / E Signal


Check our other blogs, online

http://www.fxcps.eu/
www.fxcps.co.uk/blog
http://www.fxcps.com/blog/

Trade with Passion

John Maher
Forex Analyst

Aussie Dollar Swiss Franc

Good evening Dynamic Traders,

Tonights chart is of the AUDCHF.

The longer term trend is down but due to the recent consolidation as seen on the daily chart below, the short term trend is undecided. This is why I wanted to take a look at this tonight, so as to show that patience is needed to trade in such scenarios. The squeeze shown is engulfing price action at present but sooner or later there will be a break and I will trade accordingly.

Taking the aggressive stance on this, I will use our ESLT but on a BOB of the latest support inside the squeeze if this happens.

If we now look at the 4 hour timefrane chart below we can see that we are standing at a possible 123 bottom, with several confluences, including shorter term trend up, this is why the 'patience' is needed for confirmation either way. therefore depending on how long or how many pips you look to gain, there are two possible contradicting trading positions here.

Please be aware that high impact news involving this pair is out early hours in the morning.

Ensure you do your own analysis before taking any trades.















Charts courtesy of TradeStation.

Good luck with all your trading.

Clayton Farnworth.

Check your "Cable"

Good Evening / Morning Dynamic Traders

"Better to have tried and failed, than not tried at all"

Cross = GBP : Daily Chart (Posted Below)

Long Term Trend = Down : Short Term Trend = Down

Tomorrow is a Bank Holiday in the states, so things will be quieter than normal, here in the UK we will be full of the financials again as we continue the "Banking Saga's" from the week ends press and discuss whether the FSA have done the job they were formed to do ? I won't be commenting on that one. What I am doing is choosing the "Cable" to follow this week, so where are we ?

Having printed the news, there is a couple of item on this side of the pond that needs observing over the coming week regards this cross.

A quick look through the different time frames show a down trend overall.

The Day chart gives us some support and resistance trend lines of which the price has been moving since October last year.

Price is currently at a Fib breather level, which looking at the indicators should continue its downward movement.

MACD is below the zero line and is currently crossing the signal line pointing down. We did have divergence prior to our last lower low of 23/01/09. Dynamic Traders take note.

Stochastic s are currently pointing down below the 50 line.

RSI is showing us the final part of a "Head & Shoulders" ?

We are being presented with a number of confluences. do your own homework.















Courtesy of Advanced Get / E Signal

Welcome on-board ALL those starting their webinars series tonight. Take plenty of notes.

Check our other blogs, online

http://www.fxcps.eu/
www.fxcps.com.uk/blog
http://www.dynamictraderblog.com/

Trade with Passion

John Maher
Forex Analyst

EUR on EUR own !

Good Evening / Morning Dynamic Traders

"Better to have tried and failed, than not tried at all"

Cross = EUR : Daily Chart (Posted Below)

Long Term Trend = UP : Short Term Trend = UP

Have we read the blogs on our sister sites ? Please save to favourites
http://www.fxcps.eu/
http://www.fxcps.com/blog/

It looks like we have run out of time this week to see our big move which is brewing up. Make sure you re read last nights blog on where this cross may be going. It needs to be on your watchlist after all the work you have put in over the week.

Yesterdays candle tested support after opening above our trendline, only to be beaten back by the bulls.

We are currently out side our trend lines, with RN, and resistance just above and support just below. We do have 100 pips between both areas, so no need to make a rash decision.

Patience is the answer for this trade, and use of the ESLT with a BOB is recommended in which ever way price goes. Remember the trend is generally in a upward motion, so more strength would be in that direction for momentum.

I leave you with the daily chart to reflect on over the past week, have a great Valentines weekend and those with partners, treat them special. It is good to have a companion on your journey through this world.

I will speak to you all on Sunday and those starting the webinars on Monday, look forward to 12 weeks of learning you will not get anywhere else. Make plenty of notes.















Courtesy of Advanced Get / E Signal

Trade with Passion

John Maher
Forex Analyst

New Zealand Dollar

Good evening Dynamic Traders,

I hope you have all been managing your positions well, and if still in the New Zealand Dollar I suggest you move your stops up tight as this could be in a position to reverse to some degree.

If you look at the daily chart whilst doing your own analysis, you will see we have a nice spinning top candle at the time of writing, which has spiked the golden mean and MACD behaving as it should, and just to note we are still in a downtrend.

However if we look at the 4 hour chart below, the Get Stochastic is OS but has not crossed yet with the last false bar being in the OB area from the previous high.

On this timeframe we have T.J.'s elipse not too far away either. All confluences are not there yet for me on this one as RSI is still below 50 yet, for one.

As always wait until your confluences are in place and dont jump the gun, as Trading is sticking to your rules.

Charts courtesy of AdvancedGet.

Next update will be on Monday evening.

Clayton Farnworth.

EUR Choice

Good Evening / Morning Dynamic Traders

"Better to have tried and failed, than not tried at all"

Cross = EUR : Weekly Chart (Posted Below)

Long Term Trend = UP : Short Term Trend = UP

Before I start, I would like to welcome on-board the blog team, Richard Monnery. Richard will be writing his bogs on our sister blog http://www.fxcps.eu/

With yesterdays candle just changing, we have been left with an almost doji right on the trendline. I was wanting to see a big move this week in one direction or the other, so that we could have learnt a lot from it's progress.

Remember Rule #1 The market is always correct.

Also "The trend is your friend"

With that in mind, i thought I would look further. You will see from above, I have stated both Long Term and Short the trend is up, so I went to the weekly chart to get a clearer overview.

You will observe the general trend up, has had a deep retracement before being pulled back up to a Fib breather level. Price has then returned downwards in a orderly manner to find existing support for the 4th time. This has also given us an ascending triangle with an expected move iniment.

More interesting is the candle formation of 3 parts of the letter W, noticable when you stand back from the chart. A break above our RN could be the start to the final part of the W. I have then drawn a parallel line from the support line to the neck of the W, to give some indication of where the move could go to.

We do have a number of fences in our way to reach this estimation, such as RN's, Value Index &
Resistance.

We do have Convergence on the MACD of late with the price and it is pointing UP.

RSI is below 50 and pointing upwards.

Stochastics are showing OS

So our indicators show to be favouring the Bull.

To pull the trigger we would go to a smaller time frame. Have fun !















Courtesy of Advanced Get / E Signal

Trade with Passion

John Maher
Forex Analyst

Manage your Trades

Good evening Dynamic Traders,

Welcome Richard to the bloggers group, and I hope you enjoy it as much as I know the rest of us do.

Tonight I thought I would review the NZDUSD in order to emphasise the importance of managing your trades.

On Monday evenings blog, the NZDUSD was suggested as a possible shorting opportunity and duely gave us a good profit. So as not to hand this back to the market make sure you manage it in accordance with you trading plan but still giving it room to breathe. Having said that my take on this cross at present is that after the good move down we are in a consolidation state while it recoups.

The longer and intermediate term trends are still in a downtrend and the daily chart is showing Stochastics looking like it is about to cross down and RSI is below 50, but dont try and second guess the market.

If you now go to the 4 hour chart below, you will see that the consolidation is looking like a possible bearish flag formation and during you doing your own analysis you will see that a good fib cluster lies below at a fib reversal area, and in proximity to the figure.

I am not saying that price will go to here but am waitng for the confluences to happen to strengthen my thoughts and will then take the trade if they happen.

Charts courtesy of TradeStation.

Always enjoy your trading.

Clayton Farnworth.

EUR time is running out !

Good Morning Dynamic Traders

"Better to have tried and failed, than not tried at all"

Cross = EUR : Day Chart (Posted Below)

Long Term Trend = UP : Short Term Trend = UP

Good evening / morning "Dynamic Traders", what sort of day have you had in the markets ?

In memory to Chelsea fans, I am writing my blog wearing my Russian "ushanka" hat, which i got from Moscow at the Champions League Final. It should "slip" me a few ideas !

Yesterdays candle has just finished and again is harboured up within our trend lines. The candle had a range of 267 pips, so I hope you all took some pips off the table. I hope by now reading the blogs you will have learnt that it is not all about taking 300 pips on every trade, but to be consistent and if possible take a regular amount from EVERY trade.

Today's candle has started outside the upper trend line, but is as I speak is returning to the other side of the fence where it has always found comfort since middle December. We have 3 days left before the end of the week and our trend lines, support and resistance are all squeezing price into a tight corner. I do hope we see a break out before week end to add to our excitement before we go onto review another cross.

MACD remains below the zero line and on top of the signal line, running at a horizontal.

Stochastics are pointing down, currently at 35. I would prefer to see them above 50 to give momentum to a upmove.

RSI is also pointing down, currently at 42.

We have the same support below and resistance above as previously stated and we would want to see again a BOB on either one to confirm the move. Dynamic Traders would use ESLT to enter the trade.

We have a key news item on the USD at 1330hrs so if in the trade at that time, tighten your stops and manage your trade.

As always please do your own analysis before entering any trade.

P.S. Thank you for the kind comments we have been recieving through Javid, it makes it all worth while.















Courtesy of Advanced Get / E Signal

Trade with Passion

John Maher
Forex Analyst

The Loonie

Good evening Dynamic Traders,

I hope, if any of you took any of the trades I mentioned on the websites fxtts.com & forextrendtradingsystem.com last night, you are all managing them correctly, as between them, since the updates, they have moved between them a total of about 750 pips, so well done to you.

Tonights chart is of the USDCAD on the daily timeframe, which I am looking at for a possible swing trade. As you can see from the chart below, it has been in a consolidation since October 08 after its big move, and at some time has got to break up or down.

Having once been hung up on Elliot Waves but no longer am, I am reading this as a possible W4, and therefore expecting a break north sometime.

From the chart we can see that we broke through the longer term trend line to the downside yesterday and closed below it with a small doji, only to power back into the zone today,after tagging the shorter term trendline.

I shall apply my rules of entry in accordance with my trading plan learnt from 'The Dynamic Trader' webinars and Mentoring classes, and wait patiently.

We also have Stochastics looking like it is about to cross up but has not done so yet, but if it does will add to the confluences.

However, please be aware that high impact news is out on both sides of this cross tomorrow so as usual, be patient, and do not be fooled by false breakouts, as you all know how to trade this situation.

As always, please do your own analysis before taking any trades.

Charts courtesy of TradeStation.

Good luck with your trading.

Clayton Farnworth.

EUR looking familiar !

Good Morning Dynamic Traders

"Better to have tried and failed, than not tried at all"

Cross = EUR : Day Chart (Posted Below)

Long Term Trend = UP : Short Term Trend = UP

After last nights post, we saw the assent start from the doji at 0800hrs yesterday to a daily high giving 200 pips, before price retreated ALL the way back from where it wandered from, the comfort of the trend.

Notice the size of the candles at 2300hrs, 0000hrs and 0100hrs in comparison the others.

Please note the support line drawn from 27/10/ 08 has been touched on 5 occasions so far, and is likely to offer support to the price after its daily excursion.

Our indicators are showing:-

MACD is below the zero line fighting with the signal line.

Stochastics are below 50 pointing up.

RSI is below 50 pointing down.

I would be waiting a BOB of the support to go short using ESLT to enter the trade.

Price has returned to the safety of the trend channel, with the RN giving resistance above and the other trend line giving support below.

As the lines close in on the EUR, it will have to burst out in one direction before Friday, keep this cross on your watchlist.















Courtesy of Advanced Get / E Signal

Trade with Passion

John Maher
Forex Analyst

New Zealand Lamb or Lion ?

Good evening Dynamic Traders,

Due to a technical difficulty on my TradeStation on this currency, I shall show tonights update using AdvancedGet.
The daily chart on the New Zealand Dollar at present is one to keep a close eye on, as we are still in the throws of a downtrend and have today with price action tagged the lower end of a former R/S zone which envelops the higher breather level at the figure. This timeframe has an AdvancedGet Stochastic false bar to the downside, but RSI has nipped up above 50.

If we now go down to the 4 hour timeframe chart below, you will see if you analyse this yourselves, that we do have short term divergence on the MACD, but also as shown on the chart we have an OB Get Stochastic with no false bar to the upside, and we are also nearing T.J.'s medium term elipse.

On this chart you will see we have just had a candle close through the value index and so if this should continue you can use your filters, but be aware of the fibonacci cluster just north. With the confluences accruing I am looking to short but have not entered yet, but am ready for which ever way it decides to run, and am therefore watching with baited breath.

As always please do your own analysis.
















Charts courtesy of AdvancedGet.

Happy trading.

Clayton Farnworth.

EUR in or out !

Good Morning Dynamic Traders

"Better to have tried and failed, than not tried at all"

Cross = EUR : Day Chart (Posted Below)

Long Term Trend = UP : Short Term Trend = UP

Good evening/morning traders and I hope you had a great weekend away from the markets. I have had a browse through my basket today and wanted to find something to follow that should give us some interesting things to discus this forthcoming week. I came across the EUR which once again is at a key area. We followed the EUR a couple of weeks ago and again it is back to a Key support, resistance and RN of 1.3000.

Tonight I have posted the Daily chart for you to ponder.

We have the retail index above the current price, followed by the key RN as we look down the page.

I have drawn the support and resistance of the current trend of which price has yet to challenge and interestingly I have drawn a support from a previous low, which also has provided support to recent price movement.

We currently as I write, have price for the 1st time challenging to cross the trend resistance, however we are in very close proximity of the RN. This should test the strength of the move and see if it will give us a BOB.

If we do have a BOB, then our ESLT will protect us from a false reading.

Of late we have looked in detail to 3 of our indicators, MACD, Stochastic s and RSI, what do they say?, what do you see ?

MACD is below the zero line and has just crossed the signal line pointing up, we may have convergence showing from the doji on 14/01/09 to the current price supporting a move up.

Stochastic s have recently passed up through the 20 line and point up.

RSI is pointing up, put as yet has not crossed the 50 line.

At this point I would like to give a welcome to the new students about to start the next webinars in the next 10days or so. This will be the best investment you will have made to date, with many of last years students being a success in the markets and some now doing it full-time. Welcome aboard, when you have finished your course the blogs will make much more sense allowing you to prosper in the markets.
















Courtesy of Advanced Get / E Signal

Trade with Passion

John Maher
Forex Analyst

Down under with the Aussie Again.

Good evening Dynamic Traders,

Tonights currency pair is the AUDUSD.

On the daily timeframe chart below, we can see that price action has taken it to the trendline, and I am therefore keeping it in my watchlist for possibly swing trading this, off this timescale, but bearing in mind that we have had downward movement since july last year, and so will engage my filters taught by 'The Dynamic Trader' courses, if I am to enter long on this. More than once over the last couple of months, fib. reversals have been hit and so this is why I am keeping a close eye on it for a possible long entry in the future, but I will treat it very cautiously as we are still in a downtrend at present, thus enforcing the use of our ESLT if promted.

If we now go down to the 4 hour timeframe chart below, we can see we are at a former resistance with the last candle which is also a doji albeit small, together with the figure, and also a breather level for the downtrend and thrown in the mix is an OB Stochastic which has not crossed down yet. Depending on your stance, a good short opportunity is in the frame here.

As always please do your own analysis before entering any trades.














Charts courtesy of TradeStation,

Good luck for the week ahead,

Clayton Farnworth.

1% Interest rate !

Good Morning Dynamic Traders

"Better to have tried and failed, than not tried at all"

Cross = EURGBP : Day Chart (Posted Below)

Long Term Trend = UP : Short Term Trend = Flat

The much predicted lowering of the UK interest rate to 1% had the largest bar of the day on the 60min chart and price never recovered from it ending into a transitional consolidates phase, now walking the tightrope of a drawn support trend line. A 150 pip of opportunity.

Remember of old after having a large move/candle in one direction, we get a counter action in the other direction.

With the long term trend up, I would suggest the current BOB to be a false signal (Time will tell) and price moving to the upside.

This could be confirmed with the convergence on the MACD since a previous low.

Stochastic s are in the OS area and a turn up with the crossing of the 20 line would be a further confluence.

Remember NF figures are out later today, if in a trade manage your stops at the appropriate time and do your own analysis before entering the trade.

Have a great week end and speak to you all on Sunday
















Courtesy of Advanced Get / E Signal

Trade with Passion

John Maher
Forex Analyst

All that Glistens is not Gold.

Good evening Dynamic Traders,

Tonights chart for your watchlist for a change is done in AdvancedGet, and is of Silver, for a possible swing trade to the downside.

If you look at your weekly chart, you will see that we have been coming down since March last year, and it popped through the value index last week, and has an OB Stochastic.

If we now go down to the daily chart below, we are nearly at a T.J.'s long term elipse, we have just tagged the value index, we have a fib. cluster where we stand and another just above, we are in proximity to the figure, and to add to all this there are numerous other confluences on this and other timeframes to indicate a possible reversal is nearby, but I shall let you find those for yourselves.

I am thinking we could have a push up to slightly beyond the figure and towards the higher cluster, but will be patient and let the market dictate my entry, by using my lower timeframes.

Good luck as always, and please ensure to do a full analysis of your own before taking any trades.

Charts courtesy of AdvancedGet.

Clayton Farnworth.

Rule 2

Good Morning Dynamic Traders

"Better to have tried and failed, than not tried at all"

Cross = EURGBP : Day Chart (Posted Below)

Long Term Trend = UP : Short Term Trend = Down/Flat

Rule 1 The market is ALWAYS right

Rule 2 If you think YOU were right, refer to rule 1

On last nights blog we said we were waiting for a BOB from the price squeeze, in order to enter the trade. On the 60 min chart we had a FALSE breakout at 0600hrs and at 0900hrs we had a second to the downside. This move gave a chance of a share of 160 pips, I hope some of you were rewarded.

With the longer term trend up, I was favouring the breakout to be to the upside. This was against the trend and led me to observing RULE 2.

You will see from the posted chart we have come back to test support for the fourth time, remembering the trend on this chart is up.

Stochastics are showing OS and is crossing the 30 line pointing UP

MACD has crossed down through the zero line giving a contrasting view

RSI is below the 50 line pointing up and could cross in the near future

Our indicators are conflicting, what should we do ?, Refer to RULE 2.

Price is currently yet again at a fib breather level, with the up trend and tomorrow brings some big news releases, so if in doubt refer to RULE 2.

Do your own analysis before entering the trade and use a stop loss.
















Courtesy of Advanced Get / E Signal

Trade with Passion

John Maher
Forex Analyst

Review of the Pound Canadian Dollar

Good evening Dynamic Traders,

I hope you have all had a great day and are ready for your further mentoring classes with Javid and Anne this evening.

In light of the upcoming webinar tonight, I thought I would do a review of last nights blog.
As mentioned I was looking at the GBPCAD and did enter the trade this morning a little prematurely but that is what you get sometimes by taking the aggressive stance as I said I was going to do, but due to former commitments I could not stay at my computor for a better entry. Due to the large movements intraday on this pair, my stop was far enough away to have kept me in this trade, and as at present I am managing it with a profit.

With todays price action looking like a doji ( albeit as ususal it is not finished yet ) if you are in this trade manage it according to your rules and get ready for possible big moves tomorrow either way due to high impact news out on both sides of this pair.

As always please do a complete analysis on any trade you may take, and the best of luck to you all.

Clayton Farnworth.

EURGBP Sickie

Good Morning Dynamic Traders

"Better to have tried and failed, than not tried at all"

Cross = EURGBP : 60 min Chart (Posted Below)

Long Term Trend = UP : Short Term Trend = Down

With the whole of the UK at a standstill, schools closed, transport infrastructure frozen, it was no wonder we finished the trading day on our cross with a doji. At least my fellow bloggers returned safely from Iceland, even if they did bring the weather with them.

Having taken some initial gains, price was beaten back to end in the doji as mentioned.

With stochastics pointing up, above the signal line, from oversold.

RSI is still pointing up since the recent low (Crossing the 50 line would be some conformation).

I see further gains today as we currently sit on a fib breather level.

Checking the smaller time frames of 240,60 &15 reveals price in a decreasing triangle, being squeezed. A break to the top would be the likely route of escape, however beware of the retail index hovering as resistance.

Dynamic traders would look for a BOB using ESLT to enter the trade.

With major news in the GBP on Thursday, Wednesday could provide a bag of pips.

As always do your own analysis before entering a trade.















Courtesy of Advanced Get / E Signal

Trade with Passion

John Maher
Forex Analyst

British Pound Canadian Dollar

Good evening Dynamic Traders,

Nearly half way through the trading week and I thought I would show you a chart that I am looking at for a continuation to the downside.

The daily timeframe below, which is still in a longer term downrend, is showing signs of continuing its southern trek. We had a slightly down on the day doji with big wick yesterday who's high was at the golden mean, and today we have a slightly up doji for the day. The pattern looks like a possible bearish flag ( although extended ).

If we now take a look at the 4 hour timeframe chart below we can see signs of a 123 top forming as I am writing, and also around the figure. I am going to be aggressive on this pair as it is a large moving cross and therefore want to keep my stop as close as possible.

I have also gone down to lower timeframes for my analysis and recommend you all to do the same if you are going to consider this, as they will reveal more clues as to when and where the possible turn will come, like an OB stochastic on the hourly being just one indication showing that this legg up is possibly running out of steam.

As always please do a complete analysis for yourselves before taking any trades.














Charts courtesy of TradeStation.

Happy analysing.

Clayton Farnworth.

EURGBP RSI abc

Good Morning Dynamic Traders

"Better to have tried and failed, than not tried at all"

Cross = EURGBP : Day Chart (Posted Below)

Long Term Trend = UP : Short Term Trend = Down

I am writing this awaiting the next candle on the daily chart, I think it might be stuck in the snow we had today, causing the whole country to come to a stand still. Those of you who read today's blog would have been rewarded well, as the current candle was full of 268 pips. so anyone securing 100 pips or more has done well.

My next day candle has arrived with early indication of further bullish movement, favoured by stochastic s and remembering the trend is up.

I said last night I wanted to cover RSI in more detail tonight, so here goes.

RSI is a momentum indicator and falls in the lagging bracket.

It measures the recent Gains vs Losses over the chosen time period.

Its usual setting is over a 14 time period where it plots a line on a graph between 0 - 100 and uses 70 as its higher band and 30 as its lower. Price above 70 is deemed over bought and below 30 over sold.

When the price crosses the top or bottom line it does not mean the price has peaked as the momentum will continue for a while. You should take more notice when the price turns back to finish in the middle band crossing its relevant marker line.

We normally have a centreline between the 70/30 @ 50.

There is 3 ways to use the RSI

1. Over bought = +70 , trade the turn of the trend
Over sold = -30 , trade the turn of the trend

2. Centreline crossing, Cross up = Bullish, Cross down = Bearish. Both less reliable, use in conjunction with other indicators.

3, Divergence - Opposite direction of the price, show possible reversals.

Points to note:
Works better with larger time frames, small time frames tend to stop you in and out to much.

You will see from the chart below, examples of

Overbought through 70 and turning back down giving 400 pips and 1000 pips respectively.
Divergence giving a move of 600 pips

Summary.
RSI not the be all and end all, however a favourite in my bag.
















Courtesy of Advanced Get / E Signal

Trade with Passion

John Maher
Forex Analyst

Aussie Dollar.

Good Evening Dynamic Traders,

Tonights chart that I have in my watchlist, is the AUDUSD.
Todays price action has at present given a small doji candle, although the day is not finished yet, which is also in the fibonacci reversal area, resting on the trendline and has an OS Stochastic, but also the long term trend is down so beware. We are however, getting short term convergence on this timeframe on the MACD, so I will be keeping a close eye on this pair to trade off my lower timeframe chart, the 4 hour, as shown below, using an intermediate stance.

If we take a look at this timeframe, we can see we have a longer term convergence on the MACD, and the signal lines are looking like they may soon cross upwards, but in AdvancedGet we do have a false bar on the Get Stochastic although we are sitting around a previous support area but be sure to wait for confirmation here before employing your ESLT, as we do have three lots of high impact news out in the early hours of tomorrow morning.

As always please ensure to do your own analysis before trading.

Charts courtesy of TradeStation.

Hoping you all have success.

Clayton Farnworth.

Any "cents" in the truth ?

Good Morning Dynamic Traders

"Better to have tried and failed, than not tried at all"

Cross = EURGBP : 60min Charts (Posted Below)

Long Term Trend = UP : Short Term Trend = Down

Good evening Dynamic Traders, I hope you have had time to recharge your batteries after last weeks trading and are looking forward to what is in store this week. I had a "Twitter" from Javid today saying it was freezing in Iceland where he is at present, having seeing the weather forecast for the UK he might as well stay where he is.

With not much on the TV last week apart from announcing the recession, I thought choosing the EURGBP to be the appropriate cross to look at this week.

First thing we must do is establish the trends both long and short term and also support and resistance. I have done this on the day chart which is what I do my initial analysis on.

RN seem to play a key part on this chart with the bottom support @ 0.77, recent support @ 0.88 and Resistance not quite making 0.99. I have included the magical 1.00 also on the top of the chart.

My EMA's show me the uptrend we have been in until late and you should be able to see the candle formation / pattern of the letter "M", where we currently are at the neckline.

This week I want to look at the RSI indicator and will discuss in more detail tomorrow.

If we break through current support with a BOB and ESLT we could see the Retail Index as our safety net, however with the trend being up, a bounce on the current support is more likely which could see us go on to retest the Holy Grail of 1.0 and put more weakness on the UK economy.

Remember to print your news, refer the information to the chart below and do your own analysis before entering a trade.
















Courtesy of Advanced Get / E Signal

Trade with Passion

John Maher
Forex Analyst

The Loonie

Good afternoon Dynamic Traders,

I trust you all have had a good weekend and are ready for the approaching week of Forex trading, which will hopefully be full of opportunities for us to sieze. Todays currency is the USD Dollar against the Canadian Dollar.

The daily chart below is at present in a range,as can be seen from the price action being held between the trendlines, and as of Fridays candle we had an indecision bar in the form of a spinning top which tagged a breather level and spiked a '00'

I am waiting confirmation on my 4 hour timeframe chart below as this looks like it could be a 'big move, small pause, big move', scenario.

Also you can see that Stochastics %K line has crossed below the %D line but are still in OB territory, but the spinning top on this pair was not the extreme candle.For all the Dynamic Traders reading this, you will also be able to see other confluence of events happening, including being at a MOB and also a medium term T.J.'s elipse.

As always please do your own analysis on any trades you do, and ensure you manage every one of them.

Charts courtesy of Tradestation.

Hoping you all have fun and success trading this week.

Clayton Farnworth.