Kiwi fruit squeezed

Good Evening / Morning Dynamic Traders

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

Cross = NZD: Day Chart (Posted Below)

My apologies to those who have been following my blog and have been greeted with my absence over the last week.

I was asked a question of how many crosses I follow and the answer is approx 30.

How do you keep track of that many ?

Well when I first started I would only follow the main players which is around 6 and I learnt my charting, divergence, indicators, Fib levels and strategies on these. When I got to a consistent level on these I added more crosses to the basket.

Once you know the basics you can apply it to any charts, as they all offer opportunities.

What is important is that you do things consistent.

How do you drill down to what you are trading or looking at ?

Lets choose the NZD.

The MONTHLY chart shows the cross was in an up trend since September 2001 and we had a breakdown of that trend in August 2008. Since then we have moved below the VI, finding support at the major RN 0.5000 and bouncing back up to its current level of a FIB breather level and resistance of the previous high.

The WEEKLY chart shows us price is currently at RN 0.6500 and the VI and the resistance from the previous high. Stochastics and Elliot wave would point to a reversal and a couple of the current candles have been doji.

The DAILY chart starts to look in more detail of our current position. We have a trading channel, of which price has bounced between since February 2009 to date. We have a resistance line drawn from a previous high passing through a recent high. Price has been surrounded by these lines, leaving it ready to break out in one direction or another. Stochastics are OB.
Price has given us a double top on the resistance line.















Is a return to the down trend on the cards ???

Look at the 60min chart and what do you see ????

What do you NOT see ???

Courtesy of Advanced Get / E Signal

Trade with Passion

John Maher
Forex Analyst

Follow our other blogs
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Yen sets lower in the EAST

Good Evening / Morning Dynamic Traders

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

Cross = JPY: Day Chart (Posted Below)

Those of you on tonight's webinair should have enjoyed a well presented piece on the effects of the mind regarding trading by fellow blogger "Saba Jackson", I hope you enjoyed it as much as I did. Thanks Saba.

I have moved to the EAST for this weeks cross and chosen the JPY, so as usual lets get a flavour of what is happening or has happened.

The MONTHLY chart shows the trend being sidewards to down, with prices not yet as low as in April 1995. Since the highs of June 2007 we have had a down trend with two pull-backs before price continuing DOWN. The RN 100.00 is providing resistance to the price.

The WEEKLY chart shows the squeeze on price in more detail and also shows a potential BOB to the SUPPORT line with little space left in the squeeze. A move onto the Day chart will show even greater detail.

On the DAILY we have VI patrolling the sky above the resistance line and RN 100.00 adding to the force down. RSI is below 50 and pointing down, with stochastic s entering the OS area. The potential BOB has breached the support line of 21st January 2009 and also a key support line of 95.69. Patience will be needed as the day candle has a way to go to become complete and then our measuring tape can be used for ENTRY.















Courtesy of Advanced Get / E Signal

Trade with Passion

John Maher
Forex Analyst

Follow our other blogs
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What's up AUD ?

Good Evening / Morning Dynamic Traders

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

Cross = AUD: Day Chart (Posted Below)

OK, those of you following this cross this week will more than likely have been triggered into this "Short" trade from the BOB on Wednesday and since then we have had a Doji (Not what we wanted to see) and a "Green" day yesterday. Our stop if placed correctly, should not have stopped us out as of yet, but it is not a nice feeling when you are carrying a 150 pip deficit. What next ?

On the day chart below you will see we broke through the bottom trading channel after a double top and price has now retraced, which may yet show support acting as resistance. We are currently fighting the major RN 0.8000, yet our MACD signal line is "Bearish" and we have "Divergence" on the recent 2 lows. This is repeated on the RSI and stochastic are giving a false signal in Advanced Get.

On the 60 min chart price has bounced from a recent CAT4 pivot high, with the VI still playing a major role.

If price retraces back into the trading channel it may continue it's upward trend and we will be stopped out this time for a loss.

Please ensure you do your own analysis before placing a trade.















Courtesy of Advanced Get / E Signal

Trade with Passion

John Maher
Forex Analyst

Follow our other blogs
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Long way down AUD

Good Evening / Morning Dynamic Traders

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

Cross = AUD: 60min Chart (Posted Below)

Well after early signs in the day of whether we were seeing a false BOB, price actually finished below yesterdays low. It still has a little way to go before we would be triggered into the sale at 0.78772.

On dropping to the 60min chart for a better day by day view of activity, we see that having broken our trading channel support, price headed back to be met by resistance of the trading channel and the VI. We have to drop further before our entry so do we have any confluence of events.

On MACD the signal line has crossed under and stochastics are in OS ???

Please do your own analysis before placing a trade.

















Courtesy of Advanced Get / E Signal

Trade with Passion

John Maher
Forex Analyst

Follow our other blogs
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Down or down under - AUD

Good Evening / Morning Dynamic Traders

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

Cross = AUD: Day Chart (Posted Below)

The AUD is a cross that I have in the past had little to do with, so it is always good to learn and keep learning. I noticed on my day charts what could be an interesting couple of days, so decided to choose it for the week ahead.

The monthly chart shows us currently in an uptrend after a major correction of the initial uptrend of Sept 2001 to June 2008. We are currently at a breather level of that correction, so a closer look at the weekly may give some more clues.

The weekly shows us a recent W formation of the candles, with price at the top of the right hand side of the W. We have recentlyben at loggerheads with the VI and round number 0.8000 and the battle may still be going so looking at the Day chart could answer our concerns.

The daily chart shows a BOB of the lower trading channel, which has been in place since 9th March this year. Of course this could be a false BOB and price will return to it's previous saftey inside the channel.

Will we confirm the BOB or not ? Stay tuned this week. Please do your own analysis before placing a trade.















Courtesy of Advanced Get / E Signal

Trade with Passion

John Maher
Forex Analyst

Follow our other blogs
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The Euro Australian Dollar.

Good morning Dynamic Traders,

Todays chart of the EURAUD on the daily timeframe could be showing possible weakness.

As can be seen from the image below the trend is down for all short, medium and long terms and price is currently trying to break former resistance, which has held recently.

From your tuition you should all know what this means, and assesment can be made at the end of the days trading as to whether this pair can be traded south using your tools and techniques.

Be aware of the figure just down from here as this too is a strong support zone clustering with former resistance, and also in the mix is a fibonacci cluster lying below here too.

Please ensure to do your own analysis before trading.

Charts courtesy of AdvancedGet.

Good luck.

Clayton Farnworth.

The Pound Japanese Yen.

Good morning Dynamic Traders,

Today I am looking at the possibility of a DT formation on the Pound Japanese Yen cross for a possible shorting opportunity or continuation.

The daily timeframe chart has been hanging around the V.I. for several days contemplating its next move.

If you take a look at the image below of the four hour timescale, it is showing features of the DT scenario and so I shall await confirmation of this to trade to the downside or otherwise I shall await the BOB and trade accordingly with ESLT.

If the DT should happen wait till you get all your confluences and perhaps look to the daily and weekly tools of the same for a confluence around the higher figure.

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

Charts courtesy of AdvancedGet.

Good luck.

Clayton Farnworth.

The Euro British Pound contiuation?

Good morning Dynamic Traders,

Today I wish to continue with the EURGBP from yesterday.

Although not too much has changed the main event was a close below the V.I. as shown on the image below.

Price action has still got to break the former resistance zone for confirmation where ESLT can then be applied but for more aggressive traders it could be applied to yesterdays bar for a possible entry today, but as in line with your mentoring, being as this area is strong resistance, it is advisable to wait for the breach of all the opposing forces.

If again this is to be a FBO then your techniques will hopefully keep you out of trouble, but be expecting a break of the triangle which should lead to good profits.

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

Charts courtesy of AdvancedGet.

Good luck.

Clayton Farnworth.

The Euro British Pound.

Good morning Dynamic Traders,

Today I want to bring to your attention the daily chart of the EURGBP.

The weekly chart(not shown) is sporting a reasonable doji candle formation implying a possible breather or reversal.

On the daily chart below there is strong resistance at the VI and former R/S level which is what price action has been supported at, whilst on Friday a spike through the upper trendline occured.

The EW count shows a possible W4 in progress but has a weak PTI which could mean further downside, and this also ties in with the GetStochastics showing a false bar suggesting more movement possible South.

Wait for the break either way to employ ESLT and use your other tools to make your decision.

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

Charts courtesy of AdvancedGet.

Have fun.

Clayton Farnworth.

Cable Analysis

Good Evening / Morning Dynamic Traders

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

Cross = GBP: Day Chart (Posted Below)

We have followed the Cable over the last 2 weeks and even though we are "Technical Analysts", the following is good reading:-

The latest political saga out of UK suggests that Gordon Brown's days may be numbered. The British Prime Minister was dealt a devastating blow last night when James Purnell - the Works & Pensions Secretary - quit the Cabinet and told Brown to stand down to save the Labour Party.

Mr Purnell in a letter to Mr Brown wrote, " We both love the Labour Party. I have worked for it for 20 years and you far longer. We know we owe it everything and it owes us nothing. I owe it to the party to say what I believe no matter how hard that may be. I now believe your continued leadership makes a Conservative victory more, not less likely."

"We need to show that we are prepared to fight, to be credible government and have the courage to offer an alternative future. I am calling on you to stand aside to give our party a fighting chance of winning."

If Mr Brown were to step down, the weakened Labour party may be forced to call early elections. The political turmoil in the UK is weighing heavily on the pound, but the cross remains barely above the key 1.6000 level as corporate bids have provided support so far. However, the temptation to knock out those barriers will likely prove too powerful to resist as the day progresses, especially if any risk aversion flows themselves after NFPs.

Ironically enough, an early election and a possible win by Conservative will most likely be viewed as a positive development by the market and Cable could recover, but for now it remains vulnerable to further sell off.

You will see from our day chart, that price has returned to the comfort of our previuos trading channel and looks to test 1.6000 today. All our indicators are Bearish and our Bearish engulfing candle pattern as indicted midweek started the change.

Remember NFP due out today could also weaken the Cable.















Courtesy of Advanced Get / E Signal

Trade with Passion

John Maher
Forex Analyst

Follow our other blogs
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http://www.fxcps.co.uk/blog
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Warning, Beware !

Good Evening / Morning Dynamic Traders

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

Cross = GBP : 60min Chart (Posted Below)

I do hope that those of you in the "Cable" trade took head, of yesterdays comments

"We have a key resistance above us from previous October, and with both RSI and stochastics showing a higher than normal reading, a breather or reversal could be likely."

At 0700hrs GMT this morning we had a doji top, divergence, MACD crossover and drop in RSI, this was followed by a drop in price of around 400 pips, ouch !

Today (Thursday) we have a number of major news items, with interest rate announcements from GBP, EUR and CAD within 1 hour. This news could have volatility within our cross and been out of the trade may be the better option.

Swing traders should have made a handsome profit this week from this cross and day traders may even have made 200 pips today out of the 400 available using your "Dynamic Traders" Toolbox.

With Friday being NFP in the West of the pond, our involvement with the Cable is completed for now.

Have a well deserved rest for a few extra days, readjust your trading plan, continue with your readings and we will pick up on Sunday evening.















Courtesy of Advanced Get / E Signal

Trade with Passion

John Maher
Forex Analyst

Follow our other blogs
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http://www.fxcps.co.uk/blog
http://www.fxcps.com/blog

Cable

Good Evening / Morning Dynamic Traders

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

Cross = GBP : Day Chart (Posted Below)

Those of you day trading may have made from the down move explained in this mornings blog and then the up move from 1100hrs GMT. We highlighted the Bearish engulfing candle formation with price pulling back to 16320, giving you a chance of 180 pips.

We then had a hammer candle formation indicating possible change of direction followed by a move up of over 200 pips, giving a total opportunity of over 400 pips for the day.

For those of you who swing trade then you will or should still be in the trade since entering on Friday and possibly 600 pips to the better.

We have a key resistance above us from previous October, and with both RSI and stochastics showing a higher than normal reading, a breather or reversal could be likely.

As always please do your own analysis before entering the trade and check for news.















Courtesy of Advanced Get / E Signal

Trade with Passion

John Maher
Forex Analyst

Follow our other blogs
http://www.fxcps.eu/
http://www.fxcps.co.uk/blog
http://www.fxcps.com/blog/

The Aussie Canadian.

Good morning Forex Traders,

The weekly chart of the AUDCAD has been attacking the V.I. but has been held back since the end of March.

If you you now look at the daily chart below you will see that AdvancedGet is showing a possible Wave 5 in progress and at present price action is held within the constraints of a squeezing triangle formation, being held over the last four days by the trendline acting as support.

Although price is consolidating consolidating, Stochastics is hooking up from OS territory which could mean a retest of the high which was at a very substantial figure.
This area has held well in the past but a break here would warrant the ESLT to be used.

The next fibonacci extension is at former resistance clustering with a fibonacci retracement level.

As always please do your own analysis before trading.

Charts courtesy of AdvancedGet.

Good luck.

Clayton Farnworth.

Cable Update

Good Evening / Morning Dynamic Traders

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

Cross = GBP : Day Chart & 60min (Posted Below)

Due to the confluence of events from last week, which led to little postings, I am going to continue our following of the "Cable" and would ask you to look back at our initial analysis of this cross to get the overall feeling of where it is. Please press on this " link " to read it now.

Since the "Break out" of the RN, VI and trading channel / Resistance we have seen a rise in price of around 500 pips in the two trading days. After such a large move it is only normal to expect a breather or pause in the move and that is what we have as I write this blog.
















We could see price pull back and use resistance as support giving us an ideal opportunity to enter the trade.

On looking at the 60 min chart you will see that from the recent higher highs (a bearish engulfing candle) we have "Divergence" followed by the MACD lines crossing over, RSI below the mid line and stochastics heading down.















Courtesy of Advanced Get / E Signal

Trade with Passion

John Maher
Forex Analyst

Follow our other blogs
http://www.fxcps.eu/
http://www.fxcps.co.uk/blog
http://www.fxcps.com/blog/

Australian Dollar.

Good afternoon Forex Traders,

Well finally the AUDUSD has reached the position mentioned in previous posts and so now is the time to keep a close eye on this pair for signs of the retrace/reversal.

The figure has been breached and the cluster too, and so with all the confluences still in place all that is needed is the entry to get triggered with an appropriately placed stop.

As yet the final piece of the puzzle has not set up but could be forming today, or the next target is the 0.8200 area.

If this does happen work out your entry and stop loss should be prepared and take the plunge with good management.

From the image below it shows that AdvancedGet is not liking the wave 4 set up but the pullback could still happen, and the MOB has been reached although late.

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

Charts courtesy of AdvancedGet.

Good luck with your trading.

Clayton Farnworth.