The Pound Japanese Yen.

Good morning Dynamic Traders,

The daily chart below of the GBPJPY, shows price did a large move down from late July 08 to the beginning of this year and has since moved up to produce a possible 'Double Top' formation in a breather zone of the downtrend.

Although both longer and shorter term trends are now up, price has closed below the V.I. and is near a former R/S area which is in close proximity to a good figure area.

The consolidation area of late is still proportionate to the upward movement from the beginning of the year but is looking a little protracted.

For those of you on the recent webinar series, you should know what you are looking for with the tools provided by 'The Dynamic Trader' and should apply the appropriate techniques and filters, as it is in a position to possibly go short but depending on your stance you may wish to wait for the near by resistances to the downside to be overcome.

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

As previously mentioned there will be no blogs from me tomorrow and Friday due to reasons mentioned last week and also with it being a Bank Holiday this Monday, the next update will probably be Tuesday.

Charts courtesy of AdvancedGet.

Have a great weekend.

Clayton Farnworth.

The Euro Australian Dollar.

Good morning Dynamic Traders,

Todays chart is for the watchlist on the daily timeframe, however possible shorting opportunities may arise on the lower timeframes for those so inclined.

The image below is of the EURAUD, and as can be seen it has been in a significant downtrend since the beginning of the year.

It is currently being supported by the figure area, but on closer inspection we can see that the MOB is just further south, and not surprisingly, due to the make up of this tool, it does tie in with a fibonacci cluster in close proximity indicating a possible revesal/retracement point.

Also there is a good former R/S zone around here too as can be seen on the chart, and another confluence is the two forms of convergence with the sub chart indicator.

Other confluences are available for you to find, but depending on your stance, as previously mentioned, possibly shorting opportunities may arise on the lower timeframes, or if the daily is your preference, then patience is the key to see if this area is reached and then to use your filters. If this area is not reached and a possible reversal comes early then wait for your signals to be able to apply your filters then.

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

Charts courtesy of AdvancedGet.

Please remember as mentioned last week there will be no analysis from me this Thurday and Friday.

Good luck.

Clayton Farnworth.

The Euro US Dollar.

Good morning Dynamic Traders,

Todays chart is of the EUR on the daily timeframe.

It is currently very undecided at the moment, and as it stands is showing signs of a possible 123 top, from its move up starting early March, but as can be seen price has been consolidating from early June after the big move.

Although it is not the ideal 123 set-up, AdvancedGet is showing a possible wave 5 in progress with price action having touched the MOB, which is now causing a squeeze with the trendline.

There are conflicting confluences here and so I am not looking to be aggressive in my stance, but shall wait for a clearer picture of a break either way and make my decision then, as the longer and shorter term trends are up and possible strength may be coming into this pair.

As always please ensure to do your own analysis regarding any trading decision you make.

Charts courtesy of AdvancedGet.

Have fun.

Clayton Farnworth.

EURGBP

Good Evening / Morning Dynamic Traders

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

Cross = EURGBP : Day Chart (Posted Below)

I hope you are all progressing with your trading experience and managing to bag some pips from the blogs we provide for your development. Clayton has had a few IT problems over the last few days and will be back on line soon. I take this opportunity to welcome another new blogger to our ranks,Sonia Molina. She will be joining Bijal on our sister site at www.fxcps.com/blog .We wish her well on next stage of her trading education.

I have noticed the EURGBP moving into a nice pattern on the DAILY timeframe and may be worth putting on your watchlist.

We have two anchor points from around a year ago to draw appropiate Support and Resistance trend lines as seen on the below chart. Added to this we have a strong support / resistance line which has been tested over 8 times in that time period. These all add up to the price being squeezed into a corner, What will happen next ?

Price is currently at the resistance line and with interest rate decision in UK today, will this have any effect on price ?

Will we get a BOB, or will we see a reversal towards support ? We do have the support line following th VI below price, forcing it higher and we have stochastics indicating a false reading and strength still in the move.

If we do get a BOB use your ESLT tools to avoid a false breakout. and as always do your own analysis before entering any trades.















Chart courtesy of Advanced Get. Data provided by eSignal.

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 Pound Japanese Yen.

Good afternoon Dynamic Traders,

Yesterdays chart did break north in conjunction with the false bar for a possible 130 pips, so well done if you got some of these, but now has retraced after rising to the figure and higher resistance.

Todays chart is again of the smaller timeframe because as mentioned last week I shall be without power tomorrow and therefore only want to trade intra-day if possible so I can manage my positions, and as such there will be no posts tomorrow.

The chart today is of the GBPJPY on the 4 hour timescale.

AdvancedGet is currently showing a possible wave4 complete and a wave 5 in progress, with XTL showing strength to the downside.
Also AdvancedGet Stochastics is heading down with the last false bar in the OS area.
As far as patterns are concerned, there is a possible H&S forming with previous resistance just below at the figure.

Other confluences are available for you to find, and so as always please ensure to do your own analysis before taking any trades.

Charts courtesy of AdvancedGet.

Have fun.

Clayton Farnworth.

The Pound Canadian Dollar intra-day.

Good morning Dynamic Traders,

I have currently got the 4 hour chart of the GBPCAD on my watchlist,as it is fighting the V.I. which has been giving formidable resistance together with the figure and former resistance.

Price has moved down heavily since the end of June and therefore as expected is now consolidating, and AdvancedGet is showing a wave 4( possibly complete ) and wave 5 projections further south.

Although the continuation down has not started, I shall await a break and should it occur will enter accordingly.

The preferred direction is down with the trend, but should a relevant BOB occur either way ( with GetStochastics having the last false bar to the upside ) I shall enter using the appropriate filters in either direction, and manage well according to the timeframe.

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

















Charts courtesy of AdvancedGet.

Good luck.

Clayton Farnworth.

Sun setting ?

Good Evening / Morning Dynamic Traders

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

Cross = JPY : Various Charts (Posted Below)

On looking through my day charts, I noticed and want to bring to your attention the JPY.

As usual on drilling down we look to the Monthly chart for an overall picture and check on the trend for strength of movement.















It is plain to see we are in a downtrend since 2002 and before that pullback you could look to 1998. You will see from the more recent trend lines drawn on the chart, we have been creating some lower lows since 2007.

The weekly chart















Here you see the more defined down trend that we are in and the support line drawn that provides the squeeze on price. With price in it's squeeze, which way are we looking to break ?

Remember the trend is your friend.

Day Chart

(Software is currently not allowing me to upload images, Please refer to your day chart)

We have the VI sitting above the price and you will see that price reversed at the resistance trend line. Since then price has retraced and if to produce another lower low, then it should break through the support line. I am sure some of you might have seen this set up over the last 6 days or so and maybe already in the trade. If that is so then well done.

Lets follow with interest.

Chart courtesy of Advanced Get. Data provided by eSignal.

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 Euro Pound.

Good morning Dynamic Traders,

Todays chart for the watchlist is of the EURGBP, and is today having a push northwards although for me has not got the confluences to take a trade as yet, and is tagging the V.I. at the time of writing.

On closer inspection, we can see that a possible 123 may have beeen in progress, with the divergence occurring before the low of the middle of June and then a tag of the fibonacci reversal area in early August.

However as previous resistance is so close with the former R/S zone and V.I. and figure, wait for direction should the consolidation get broke, but bear in mind a move north would be against the trend, but could still happen should the current obstacles be overcome.

Charts courtesy of AdvancedGet.

Good luck.

Clayton Farnworth.

The Pound Canadian Dollar.

Good morning Dynamic Traders,

I hope some of you have been able to profit from this weeks posts and are managing them well.

So far from Monday's and Wednesday's posts there have been up to about 450 pips available, whilst Tuesday's at the time of writing is about breakeven.

Remember, management is vital to your success.

Again the image uploading issue is plagueing me and so I shall just write about the trade I am looking at.

It is of the GBPCAD on the four hour timescale and could possibly be showing a bearish flag formation whilst tagging the figure area and having RSI below 50, although this is rising albeit at a shallow angle.

The longer and shorter term trend is down on this timeframe and there are other confluences for you to find.

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

I have had notification through the post, that my electricity supply will be off tomorrow, next Friday and the following Thursday for 'Powerline Tree Cutting ' and so on these days there will be no updates.

Good luck, and have a great weekend.

Clayton Farnworth.

The Canadian Dollar smaller timeframe.

Hello Dynamic Traders,

Firstly John, could you please contact me, as I have tried to send you an e-mail five times now but keep getting it returned. Thanks.

Today I thought I would show a smaller timeframe chart of the CAD on the 4 hour scale.

The shorter term trend on the higher timeframe is down, and as can be seen from the image below the longer term trend here is also down.

Due to these two points and also other confluences which you should find including the fibonacci retracements, round numbers and overbought RSI I am waiting for a shorting opportunity.

This is not to say that price will not continue to rise to at least the higher retracement, but I shall await a possible trigger point to add my final confirmation and trade accordingly.

As always please do your own analysis before trading.

Charts courtesy of AdvancedGet

Good luck.

Clayton Farnworth.

The Australian Dollar Canadian Dollar.

Good morning Dynamic Traders,

Todays chart is of the AUDCAD, on the daily timeframe.

The image below currently has price action having closed above the higher fibonacci breather level which could be an indication that price may go higher.

Some confluences to support this is the MACD heading up, and also price ( being the most important factor in analysis ) is also in the parameters of DD as taught by 'The Dynamic Trader'.

However, please be aware that the short term trend is down and so caution is warranted here should the long trade be taken as it may be in the process of a 123/DT which could also tie in with the AdvancedGet EW count as this could be a 3 wave A.

If it does turn out to be a 123/DT then a possible 140 pips (ish) plus could be on offer.

However should the opposite trade happen then use your tools to work out an entry and trade accordingly.

Please ensure to do your own analysis before taking any trades.
















Charts courtesy of AdvancedGet.

Good luck.

Clayton Farnworth.

The Pound Swiss Franc.

Good morning Dynamic Traders,

This morning there seems to be a problem with uploading images as Bijal was finding yesterday, and so I will try to explain the trade I am looking at without the aid of a chart.

The cross is of the GBPCHF, which from about July 07 to January 09 was in a downtrend, and after such a large move either consolidation or correction was to be expected.

Price has made a counter trend move up and stands at a fibonacci cluster area of both retracements and extension, and is also making a DT pattern at the figure.

The MACD indicator is showing divergence and so the confluences are building for a retracement/reversal, but wait until you have your desired quota of indications before trading as a push north can always happen and even if the signs are overwhelming for a down move, and so the more odds in your favour the better.

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

Have fun and good luck.

Clayton Farnworth.

The Pound Hong Kong Dollar.

Good morning Dynamic Traders,

Todays chart is of the GBPHKD, and as can be seen from the image below, AdvancedGet is showing a wave 5 in progress with price currently at the MOB and TJ's elipse coming down to meet it.

There is also a fibonacci cluster of retracement and extension in the vacinity with a strong former R/S line just north.

MACD is showing longer and shorter term divergences, which all add up to a possible retracement close at hand.

Wait for confirmations and plan your entry, but contradicting this is possible strength in the move and so should a break north occur above these levels then use your Dynamic Trader filters to enter accordingly.

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

Due to NFP there will be no update tomorrow.
















Charts courtesy of AdvancedGet.

Have fun.

Clayton Farnworth.

AUD 3, 2 or 1 ?

Good Evening / Morning Dynamic Traders

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

Cross = AUD in General

How are we all doing since the post on Monday, did we look at the 3 charts and decide on which was right for you ?

Which did you choose, AUD, AUDCHF or AUDJPY ?

Lets have a look, we will start with the AUD















Price has broken out, produced another higher high and we are clear of RN 0.8000. We have a nice upturning cushion of the VI below us at present and the trend lines have given us the squeeze of the price. Having broken resistance price could pull back to use resistance as support and then continue up. Stochastics is showing a false reading which would indicate further strength in the trend.

AUDCHF















Price has broken out, produced another higher high. We have a cushion of the VI below us at present which price has touched recently.and the trend lines have given us the squeeze of the price. There could be a concern with the RN 0.9000 which is showing hesitation in the price at present. Having broken resistance price could pull back to use resistance as support and then continue up. Stochastics is showing a false reading which would indicate further strength in the trend. Not as strong looking as the AUD.

AUDJPY















Price has not broken out, and has not produced another higher high as of yet. We have a cushion of the VI below us but a lot shallow than the previous two crosses and the trend lines have given us the squeeze of the price, awaiting nthe BOB. There could be a concern with the RN 0.8000 which is showing hesitation in the price at present and we have had a reversal candle followed by a red candle. This could be the start of a move downwards to the VI and support trend line. Stochastics is NOT showing a false reading and has started to turn down, which could support the reversal. Looks the weeker of the 3.

What was your views, do you agree with my comments or think different.

Only time will tell, lets review at the week end, remembering NFP on Friday.

Charts courtesy of Advanced Get. Data provided by eSignal.

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 Pound Canadian Dollar.

Good afternoon Dynamic Traders,

Todays chart of the GBPCAD is definately one for the watchlist until the market shows its hand a little more.

The current trend is down with price at present in a fibonacci breather zone which also encloses former resistance lying just above the figure of 1.8400.
This also ties in with the AdvancedGet Elliott wave count.

However contradicting this is the sub chart indicator of MACD which is showing an uptrend direction, and with another style of trading I use I only have one more confluence to get which would then have me look at a possible long trade.

Therefore as usual, sit on your hands on this one until more direction is given and once your number of confluences is had, use your Dynamic Trader rules and filters for entry.

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

Charts courtesy of AdvancedGet.

Good luck.

Clayton Farnworth.

The Swiss Franc.

Good morning Dynamic Traders,

Todays chart is of the CHF, and I am looking at this for a possible continuation down although it does sit at a former support level with a figure resistance which could cause some profit taking resulting in a bounce.

However should this break, another support level can be seen on the chart also at a figure but which also has a fibonacci extension near by.

Should the above happen use your confluences to enter when you have your trigger which could possibly come from other timeframes where a clearer picture maybe seen, in the form of a possible bearish flag.

The possible downward movement does tie in with the AdvancedGet EW count but as mentioned be sure to get the planned entry from your 'Dynamic Trader' filters.

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

Charts courtesy of AdvancedGet.

Have fun.

Clayton farnworth.

AUD, AUD or AUD

Good Evening / Morning Dynamic Traders

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

Cross = AUD in General

Hello everyone, I hope you all enjoyed the last week end of yet another month. July behind us, we now start the 8th month of the year and how is your trading going. As Zaheer has mentioned on our sister site, sitting in front of the screen day in and day out is not too good for you or the screen, try and mix your trading in with enjoying life, whether the gym, a walk or hobbie. Do not become a slave of the screen.

I want you to do some work for me in a moment and as always I have been busy looking for opportunities for both you and me to take some advantage on the market.

I have taken the unusual step of plotting all the AUD combinations on the one DAY chart, with the main cross "AUD" in candlestick formation and the others as line. It is plain to see that the main cross is in an uptrend producing higher high's and higher lows. The chart does look a little confusing, however can you see the BLACK and GREY lines do not follow the price of the "AUD". Black = AUDCAD and Grey = AUDNZD















Let us remove those two crosses and look again at what we have got.

I have added the 200 EMA and 2 trend lines with NO indicators, looking at what is the key aspect of trading, PRICE.

What do you see ?















An UPTREND ?
A BREAKOUT of 3 crosses ?
Above a major RN ?

From a traders point of view it would be considered a risk to trade all 3 crosses, so why not look at the 3 seperately and decide with the addition of some indicators and confluence of events, which you consider the better choice. The reason for not trading all 3 would be the risk if the trade went wrong, you would be wrong 3 times. This is called "Risk management".

Which one do you prefer ?

Charts courtesy of Advanced Get. Data provided by eSignal.

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 Euro Pound.

Good morning Dynamic Traders,

Todays chart, with a possible view towards a swing trade to the downside is the EURGBP.

This pairs short term trend is down and it is under the V.I. after its pulback since the break, MACD is down and RSI is below the mid-line.

Price is currently below the significant '00' but without a close. If today does end up being a down day the next obvious resistance would be the previous support area, again at a figure, albeit a less significant one, and should this break the '000' area could be targeted.
Aggressive traders could enter accordingly whilst the more conservative would wait for the consolidation to to break.

Whilst doing your own analysis, make sure you pay attention to the possible 123/DB scenario to aid you in your decisions.

Charts courtesy of AdvancedGet.

Good luck.

Clayton Farnworth.