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The Dynamic Trader Forex Blog

Wednesday, 17 December 2008

Which way ?

Good evening Dynamic Traders,

As usual I hope you are all well , and managing any trades according to your plan.

Tonights chart, the AUDCAD , will give you all a little 'Homework'. As you can see , the price is standing at a former R/S level to make a DT , this level is also a former R/S level on several occasions previously. As I write , it looks to be forming a spinning top ( but the day is not finished ) , also take note of the tagged RN.
We have divergences on on several timeframes, however I feel there may be exceptions to every rule. If this does go northwards , use your ESLT on the BOB , otherwise trade it by your rules for a DT. This one is going to be interesting .

As always please do your own analysis before entering trades.



Clayton Farnworth.

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