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.