The Aussie Dollar and recap.

Hello all,

Tonight I want to recap on the Euro, the week before last's chosen currency pair for the week and also the JPY from last week and then to show you an interesting set-up on the AUD.

The EUR, I mentioned favouring a short and said I was a confluence short, but there is still the V.I. to deal with so continue to watch this and trade at your discretion.

The JPY is currently in DD territory for a short but with the short term trend still up but everything said last week still stands and a short trade could be favourable, although watch the outcome of the possible bullish flag forming and await an confirmation before trading.

Tonights chart is of the AUD and is in an interesting position which you will have to decide on.
Fridays close stood less than 200 pips south of 2009's high, and although the short term trend is down the medium and long term trends are up.

However, mid Novembers 09 high hit a fibonacci reversal area and saw a subsequent 600 pip plus drop, and now price stands at a fibonacci reversal area of that fibonacci reversal area with another 123 pattern formation and a candle formation on Friday.

Confluences are building for a reversal but it would be a trade against the trends and so more emphasis needs to be placed on getting a good entry point, should the relevant basket of confluences occur.
On the other hand, should it break this area north then there is possible strength to the upside, we shall have to wait and see.

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

Charts courtesy of AdvancedGet.

Good luck.

Clayton Farnworth.

The Australian Dollar.

Good afternoon all,

Well I am still having difficulty accessing the internet or connecting to the blogger dashboard to update and am having another engineer out tomorrow for the morning appointment, hpoefully it will get finalised once and for all, but apparently on the traffic light calibration iam am on a red line which is not good.

Before going onto todays chart I would like to wish all the bloggers and readers a very Happy Christmas and a fantastic New Year and I will endeavour to do updates over the festivities but remember that the markets are not as they ususally are as even the big players take time off as
too and so normality will return in the New Year, and so as said I will post over the holiday period but first and foremost enjoy your time.

I did have other posts for last week but couldn't access the blogger, one being an update of the posts already done but now as this has gone I shall move on with another currency but in the future may decide to follow a currency through a weekly period and then for the next week choose random currencies throughout hte week, we shall see.

Todays chart has been consolidating since about mid October and did hit a fibonacci reversal figure mid November and is showing signs of the uptrend weakening ( but for how long ) due to certain confluences and one being that price has hit the reversal with the MACD playing out its role as well.

Whether all the confluences are indicating just a short term pullback I don't know as the trend can be seen to be up, the the V.I. is approximately 500 pips below which is clustering with other possible support areas.

Should price make it that far, remember that it will not go in a straight line but initially it looks as though a bearish flag may be occurring with this little rise testing former support.

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

Charts courtesy of AdvancedGet.

Good luck.

Clayton Farnworth.

The Australian Dollar daily.

Good evening Dynamic Traders,

Today I thought I would show the AUDUSD on a daily timeframe.

As mentioned about a month ago, when I was looking for a possible short on this pair, I said if the high broke then the '0.9000' area could be tested, well it did brake and price is nearing that area.

The '000' is just north and last week missed it by about 140 pips and whether it does actually make it or not I am once again anticipating a short.

The MACD is showing divergence both longer and shorter term and on various timeframes.

A possible 123 top could be occurring now and could be traded accordingly on the correct timeframe chart, should all the criteria show themselves, which would also tie in with the bearish engulfing candle formation of Wednesday and Thursday last week.

However please bear in mind the afore mentioned figure area which price could well try to achieve and therefore if anyone should look for the short trade then wait until you have everything in place, I do feel some form of pullback is due because of the confluences but be patient.

AdvancedGet is also showing a possible W5 termination point around here.

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

Charts courtesy of AdvancedGet.

Good luck.

Clayton Farnworth.

The Australian Dollar daily.

Good morning Dynamic Traders,

Todays chart is going 'down under' with the AUD on the daily timeframe.

Price is currently in a squeeze with the former R/S zone line and trendline and in proximity to a good figure.

It also stands at a fibonacci cluster area at present and with the divergences occuring with the MACD indicator and also the RSI( as expected), the probabilities are more in favour of a downward movement.


Wait for a break of the triangle pattern to employ your entry techniques as taught by the 'Dynamic Trader' but should a break north occur beware of false BOB's due to the news out later today and tomorrow, and be sure to allow for this instance, should you decide to trade in that direction.


A break north could see the 0.9000 area challenged and although I am assuming here, my favoured direction is south for at least a retrace due to the confluences.


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


Please note that I may not be able to post tomorrow.
















Charts courtesy af AdvancedGet.

Good luck.

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

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

Down Under with the Aussie.

Good afternoon Dynamic Traders,

Todays chart of the AUD is one for your watchlist.

As can be seen the price action has broken the trendline support but is approaching a former resistance area.

It is currently standing in the DD strategy for a short but is not showing any signs of strength in the downward movement and so keep an eye on this for a possible break south of the resistance and consolidation to review from there which would then lead on to employing ESLT.

All the RSI, MACD and Stochastic indicators are pointing down but do anticipate a false break.

Be aware that trends are up here and so caution would be warranted as this could be your big move small pause scenario and therefore should the opposite to the above ensue then a break north of the consolidation would see the same technique applied there too.

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

Charts courtesy of AdvancedGet.

Good luck.

Clayton Farnworth.

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
http://www.fxcps.eu/
http://www.fxcps.co.uk/blog
http://www.fxcps.com/blog

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
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.

Review of the Aussie Dollar.

Good morning Dynamic Traders,

Today I am going to review yesterdays blog of the AUDUSD.

After dropping about 80 pips from when mentioned it has since recovered about 50 pips to the time of writting.
Nothing has canged from yesterday in that the divergence and other confluences are still there but I am uncertain of this for a swing trade fall from here although the lower timeframe is showing support off the trendline which could mean that a further move north may happen.

As said yesterday my confluences for a short opportunity are not there yet and so for me I am awaiting the push up to the figure and clustering fibonacci areas before committing.

With trading the markets you will know nothing is certain and so this course of price action may not even happen but in accordance with my plan I have not got enough odds in my favour for this trade at the moment.

I shall not be posting tomorrow and so as usual please do analysis of your own before taking any trades.

Charts courtesy of TradeStation.

Good luck and have a great weekend.

Clayton Farnworth.

The Australian Dollar daily.

Good afternoon Dynamic Traders,

As mentioned yesterday the possible quick short could have given about 60 pips to previous resistance which then became support, and price promptly reversed back up.

If you now go to the daily chart below, you will see that action yesterday gave us a spinning top candle which to me appears to be in no mans land and therefore could be the start of a possible breather as price has come down slightly today.

On further analysis there is a good cluster north with the figure and various fibonacci extensions and so the present pulback could possibly be just a flag on the lower timeframes, but we shall have to wait and see as there is good divergence present on the MACD.

As things stand I am waiting to see if the cluster is reached before taking action unless more conluences build now for the short trade.

As always please do your own analysis.

Charts courtesy of TradeStation.

Have fun with your trading.

Clayton Farnworth.

AUD, Tickets Please

Good Evening / Morning Dynamic Traders

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

Cross = AUD : 60min Chart (Posted Below)

Read our review from Monday's blog Click here It would have been worth it.

Despite early trading been bearish, price picked up on the UK market open and restored the cross back into our short term trading channel.

Those of you who "swing trade" will still be in this trade, since entering Monday and should be to the tune of 250 pips in profit. More if you use your "Dynamic Trader" toolbox.

Those not so patient may have been in and out and back in the trade over the week and also well in profit. If you refer to last nights blog, we placed short term trend lines on the 60 min chart with indicators possibly saying a "Bear" movement likely. If you used your ESLT, you would have had easy pickings of 50 pips before price headed back up.

With the longer time frames indicating an uptrend, this cross could continue in its rise to possible targets on the day chart of 0.7850 and then 0.8450.

In the UK we have a "Bank Holiday" so I will not be posting till Tuesday, I hope you all enjoy the break and pray we get some nice weather.















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/

AUD Doji

Good Evening / Morning Dynamic Traders

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

Cross = AUD : 60min Chart (Posted Below)

Read our review from Monday's blog Click here It would have been worth it.

Our Day chart finished the day with a doji, which could be a breather in the move or a possible sign that the trend will reverse ? Swing traders amongst you will now look to tighten your stops whilst monitoring the appropriate charts.

Moving to our 60mins chart, we put in the higher high at 1500hrs this afternoon (Wednesday), retested at 1900hrs and have not as yet retested this area. I have established a further support trend line as seen on the chart and copied it to give short term resistance as shown. We have several touches of the support and three of the resistance.

We have 100 pips on offer if we move up to our new resistance level.

Let's see what tomorrow brings ?















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/

AUD Beware

Good Evening / Morning Dynamic Traders

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

Cross = AUD : 60min Chart (Posted Below)

Read our review from Monday's blog Click here It would have been worth it.

If you have been with us since the start of the week and took the trade you would have been 200 pips to the better over the two days, with today's candle giving a new higher high on the day chart. Now that the historic key support / resistance of 0.7700 has been breached today we could get a bounce from it towards RN 0.8000.

On the day chart the larger wick at the top of the candle may give a concern so moving to the 60min would be recommendable to manage the trade.

Lets look at the 60min, Stochastics is giving a false reading, RSI is moving down from it's recent peaks and MACD signal line is above it's line and there is signs of recent divergence. These confluence of events point to a change in the recent move up.

Will it be a correction before continuing it's upward move ? or something more robust ? Advanced Get's elliot wave count points towards a wave 4, back towards the VI ?

Ensure your stops are ideally placed and manage your trade.















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/

Fistful of AUD

Good Evening / Morning Dynamic Traders

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

Cross = AUD : 60min Chart (Posted Below)

Bonanza ! is the word that comes into mind, as we high lighted this move on this mornings blog and entry would have been in the region of 0.7548 giving you some 120 pips profit. The reversal candle as price touched our trend line would have signalled to you to tighten stops and safeguard your gains. How did you do, or did you miss the boat.

Read our thoughts on our previous blog Click here

Remember we have our previous resistance at 0.7700 just above our current resistance and a further attack on that after a recent breather could still be in play and would provide the next higher high on the day chart.

Sticking with the 60min chart, price has pulled back for a breather, stochastics are showing a false reading so my advice would be to sit and watch developments. A BOB of the current resistance trend line would be likely choice, a BOB of our historic 0.7700 would be more conservative remembering the bigger picture is saying UP.

Make sure you do your own analysis of your trades before entering and we will speak tomorrow.















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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AUD Update

Good Evening / Morning Dynamic Traders

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

Cross = AUD : Day Chart (Posted Below)

Apart from the weather in UK, what a great week end. Man Utd winning the title again which gives the players a weeks rest before we tackle Barcelona in Roma on 27th May. I can't wait.

It's always great to have that winning feeling inside you no matter how many times you do it. Think what you feel like when you lose on your trade compared to when you win ! Let's keep that winning mentality going in our day to day lifestyle. Believe and you will achieve.

I believe I might have found a nice little earner for you this week in the AUD. Lets start with a clean sheet and see what has been happening.

On the monthly chart we were in a up trend from April 2001 until the credit crunch took effect in July 2008. Since then we had a 5 month pullback till November 2008, the last 3 months being an uptrend and price recently breaking through the VI. Is price heading back to pre credit crunch position ? Look at RSI and Stochastics, what do you think ?

Our weekly chart shows the pullback / correction in more detail and a double bottom "W" pattern in price is clear to see. 0.7700 has played a key support and resistance over time and price has recently hit this mark again before reversing down. Interesting the VI sits slightly above this point and RN 0.8000 is also in our proximity. A strong move up will be needed to break through this confluence of events.


Looking at the Day chart, with trend lines drawn and also the key 0.7700 Support / Resistance line. We see price has been sqeezed almost to the point of erruption. We have cleared the VI and have attacked the resistance recently, is it time to try again ? Higher highs and lows since March would have us believe so. Stochastics are showing a false reading on "Advanced Get".














With the long term trend looking Bullish then a BOB of the trend line and confirmed by the breaking of the resistance line looks the suitable plan for those that are patient. With some 150 pips available for that to happen the more aggressive may move to the 60 Min chart.

With time on your hands to follow your trade the 60 mins is showing price coming off the bottom trend line and into an uptrend. We have broken through the VI and a ESLT out of your "Dynamic Traders toolbox" may get you into the trade.

Please check your News items for the week and do your own analysis before entering any trade. Enjoy your learning and I will speak to you soon.

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 intraday review.

Good morning Dynamic Traders,

Today I thought I would review yesterdays post, on the intraday AUDUSD.

The chart was of the one hour timescale and nearly as soon after posting price came down.

This is the potential of the 123 scenario's should they be analysed correctly.
As can be seen the rules were in place and consequently around a two hundred pip gain upto press was available.

Managing this according to my plan I did manage about three quarters of this possible bag on offer which should be what you could have had unless your management rules are more conservative or aggressive.

Whatever way this was an good trade to take in accordance with the rules and shows that removing emotions and trading with a set of rules that you apply to the letter can offer fantastic gains.

Charts courtesy of TradeStation.

Good luck for today.

Clayton Farnworth.

The Aussie intraday.

Good morning Dynamic Traders,

Today I am showing a chart of the AUDUSD intraday on the one hour timeframe.
This is a trade that I have just entered and am now managing.

By looking at the various timeframes I entered this by using 'The Dynamic Trader' rules for a possible 123.

As can be seen from the image below there was short term divergence here and the figure was in close proximity.

The confluences that are appropriate came together and therefore I took the trade and as usual I did my analysis across the relevant timeframes.

Please do your own analysis and whilst doing so find the confluences that should be occurring.

This is an intraday trade and so I am going to manage it accordingly, and being intraday it is not for great profits but to take some pips from the market.

Charts courtesy of AdvancedGet.

Always enjoy your trading.

Clayton Farnworth.

The Australian Dollar.

Good afternoon Dynamic Traders,

The four timeframe chart on the AUDUSD, as mentioned on the 21st April, did not give any signal to come down further but instead just headed north. I did not trade either way on this pair but am now looking to see if a shorting opportunity should arise on the daily timeframe chart as shown below.

Price action has of late hit its V.I. whilst in a short term uptrend before having a small pullback and now price has come back towards the V.I.area.

I am once again looking to take a short position should indications come about, as price has hit a fibonacci revesal and although not finished is today producing a bearish engulfing pattern.
The immediate pattern is too extended for my liking to be a bearish flag but a possible H&S could be forming.

A diverging RSI is also in evidence as well as other confluences.

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

Tomorrow I will hopefully be having a new phone line connected and internet connection, and so depending on the progress of this there may not be any posting from myself but be sure to read all the other blogs.

Charts courtesy of AdvancedGet.

Happy and prosperous trading.

Clayton Farnworth.

The Australian Dollar.

Good morning Dynamic Traders,

On the 8th April, I mentioned the AUDUSD for an intraday trade which could have run on further if managed correctly for a possible 250 or so pips, before getting stopped out.
I am now looking at this to get ready for a possible continuation down as the daily timeframe is in the throws of the downward move after hitting its V.I. which is confirmed by its MACD.

If you now go to the four hour chart below, you will see that it is currently sittng at this timeframes V.I. which is around the figure.
It also looks to be showing a possible bearish flag pattern and the RSI is currently coming up from OS levels and Stochastics is still in OS territory.

Keep an eye on this one for possible confirmation of this possible short trade, but as always please do your own analysis before taking any trade.

Charts courtesy of TradeStation.

Good luck.

Clayton Farnworth.

Down Down Under

Good Morning Dynamic Traders

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

Cross = AUD : 60min Charts (Posted Below)

Long Term Trend = Down : Short Term Trend = Down

Hello everyone and thank you for staying with me this week, What a good week for all if you have been following the blog. If I can recap the week for you.

We started slow with the AUD having a bank holiday Monday, which gave us time to assess the chosen cross and review it's charts.

We highlighted 2 trend lines on the 240 chart which gave us a decreasing triangle coming to its squeeze. From here we dropped a time frame to 60mins looking for a BOB which delivered with the trend at 1900hrs Wed. We then used ESLT to enter the trade.

If your stop was not too tight you may well be STILL in this trade as I write the blog. Today we have dropped 218 pips till now 0130hrs. If you are still in the trade please manage it accordingly.

Since the BOB, we have passed through the retail index and followed a uniformed parallel trend with one pull back before continuing down in the current parallel trend.

We also spent some time recapping on "Stochastic s" as an indicator in some detail. If you were to draw a vertical line from "Stochastic s line crossover" to "price" you would see how stochastic s works for you.

I wish you all a great weekend, and with the weather forecast as snow and freezing conditions, it may be warmer with Javid & Anne in Iceland.

Enjoy, speak to you Sunday.

















Courtesy of Advanced Get / E Signal

Trade with Passion

John Maher
Forex Analyst

I can see clearly now !

Good Morning Dynamic Traders

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

Cross = AUD : 60min Chart (Posted Below)

Long Term Trend = Down : Short Term Trend = Down

Hi everybody, I have dropped another time frame for tonight's chart and have kept last nights trend lines in place, with stochastic s as our featured indicator.

What do you see ?

What do you not see ?

We have what looks like an up trend on price between the trend lines, which has passed through the retail index.

Our trend lines have come to the end of their squeeze on this time scale and after a break of the top trend line we were presented with a false breakout.

This has been followed by a sharp drop in the price and a BOB through the lower trend line which would have triggered us in the trade using our ESLT. As I write we would be out of pocket
as price has struggled to continue down as we battle with the retail index for right of way.

If we break through this confrontation a move down looks likely as we look for further confirmation.

Stochastic s fast line is below the signal line pointing downwards since 1900hrs last night.

RSI is below the 50 after failing to pass the 65 and is pointing down.

MACD has recently crossed the zero line with a wide gap between itself and the signal line.

As always please do your own analysis before placing your trades and use a stop and remember we have 3 heavy duty news items today on the USD. Beware !




Courtesy of Advanced Get / E Signal

Trade with Passion

John Maher
Forex Analyst

Tie the kangaroo down, sport !

Good Morning Dynamic Traders

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

Cross = AUD : 240 Chart (Posted Below)

Long Term Trend = Down : Short Term Trend = Down

I would like to thank all of you reading this blog, for the kind words recieved with regards your appreciation in its content. The 4 bloggers all have their own styles, which gives a wider picture on the markets. It is good to hear feedback as it makes our commitment to the blogs more worthwhile. Why else would I be typing at 0230hrs.

Last night we looked at Stochastics in some details and I hope you all had time to take that in. We also mentioned that confleunce was to go up and todays bar harvested 150 pips. Well done to those that followed the blog and carried out their own analysis.

Tonight I have dropped a timeframe to give you a different view on the stochastics indicator. You will see as I write the fast line has crossed above the signal line, pointing towards more strenght to the bullish side.

Remember that the trend is down and we have had 4 lower lows since 13th January. To trade against the trend is not recommended especialy if you are still learning.

MACD and RSI are bullish, however we do have the retail index not far above us (around 100pips) which will act as resistance.

I have drawn two trend lines on the chart where you can see the price squeeze is running out of space and a possible BOB may trigger later.

We have key news for the USD and the NZD today.

Happy trading.
















Courtesy of Advanced Get / E Signal

Trade with Passion

John Maher
Forex Analyst

Stochastics

Good Morning Dynamic Traders

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

Cross = AUD : Day Chart (Posted Below)

Long Term Trend = Down : Short Term Trend = Down

Stochastics

Momentum Oscillator comes in Fast, Slow and Full. Slow is the commonly used one.

%K = Fast line
%D = Signal line ( 5day Simple MA of %K)

Measured 0-100, 80+= Upper (Over Bought), -20= Lower (Over Sold)
Break below 80 Line = Sell
Break above 20 Line = Buy

Bigger the distance between %K and %D = Bigger the momentum

Can be used for Price Convergence / Divergence like MACD

Can give false readings, Advanced Get will display signal for false reading.

Best used with other indicators for conformation

Look at the chart below to see where Fast line has crossed above and below the signal line with relevance to price. Blue = Above and Red = Below. Powerful signals ?

We have the FAST line moved above the signal line and crossing the 20 line pointing up. Is this the start of a move up ?

RSI is pointing up but below the midline.

MACD line is turning, however is below the zero line and we have convergence with price.

Where will we go to ????

Please do your own analysis before placing a trade and USE a stop.

Watch for Major news items tomorrow on AUD, EUR, USD and GBP Beware !
















Courtesy of Advanced Get / E Signal

Trade with Passion

John Maher
Forex Analyst

Wizard of AUD

Good Morning Dynamic Traders

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

Cross = AUD : Day Chart (Posted Below)

Long Term Trend = Down : Short Term Trend = Down

I hope you had a great week end and have a clear mind for the forthcoming trading week.

As it has been a while, I thought we would use the AUD cross this week to further our education and I intend to look at another indicator in greater depth so that we get a real understanding in what it shows us, after the feedback received from the MACD insight.

I would like you to look at your different time frame charts to accustom your self with the trends as listed above and also look at support, resistance as well as RN's. If we plan our analysis on the Daily chart as shown below, we can move down a time frame to get a more accurate entry for our trades.

What do we see ?

We have a major support at a RN which could be tested again.

We have RSI under 50 pointing down.

We have MACD below the signal line and below the zero line.

EMA's not stacked in line as of yet, which would confirm continuation of down trend.

Trend lines are giving us a decreasing triangle, however as it is a day chart, we have some days to go before we feel the squeeze. Support from the trend line below takes down to 63200.

Get a feel of your charts by using the information above and tomorrow we will look more closely at an indicator.

















Courtesy of Advanced Get / E Signal

Trade with Passion

John Maher
Forex Analyst