Dynamic Trader Forex Blog FXCPS.co.uk: Update

Good Evening / Morning Dynamic Traders

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

What a great start to the week Man Utd winning the Cup !

Before we start the week, I wanted to give an update to the trades we have been looking at and I am currently in.

EURAUD - We are risk free in this trade and currently 500 pips in profit, Trend is down and stochastics is showing further strength in the trend.

EURUSD - We are risk free in this trade and currently 372 pips in profit, Trend is down and stochastics is showing further strength in the trend.

GBPCHF - We are risk free in this trade and currently 322 pips in profit, Trend is down.

USDJPY - The trend is down and we have yet to hit our initial target, we did kiss our target on the 4th Feb but not enough to to take our profit and price moved up through entry and half way towards our stop. This is where patience and a good nerve of steel is needed. Our reward is price is now back on the verge of our target.

EURCAD - We are risk free in this trade and currently 211 pips in profit, Trend is down and stochastics is showing further strength in the trend. We have reversed to the resistance which is also a fib breather level of the recent big move down.

AUDNZD & AUDCAD - We are Long on both trades and in a small profit on both, but both trades are new and take time to settle down. We currently have 40 & 11 pips profit respectivly. AUDNZD is showing more strength in the trend.

USDCAD - Price was moving towards our initial target and then revesed past our entry into a loss. Price is currently hovering again at our entry and shows a minute profit of 3 pips.

USDCHF - We are Long in this trade, which after triggering entry is yet to raise its head above the parapet. It is currently in a loss of near 100 pips, despite stochastics indicating further strength in the trend. As long as we do not stop out with our pre determined stop loss, we will remain confident.

USDDKK - The recent trend is up and this cross has an ATR 20 of 523 pips, The value of the pip is far less in this cross than others and even though it shows a whopping 565 pips down the actual loss showing is within our calculated levels. Stochastics are showing further strength in the trend, our Bolinger Bands are pointing up and we are above the VI.

Please do your own analysis before entering a trade.

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Trade with Passion

John Maher
Forex Analyst