Euro Dollar again.

Good afternoon Dynamic Traders,

I hope you are all enjoying your well earned break this weekend and are looking forward to your week of trading ahead.

Today I am looking at the Euro Dollar which I mentioned on Wednesday evenings blog. Since then it has moved up nearly 300 pips in two days, well done to those of you that took that trade.

Friday afternoons big action also took price north over the trendline from mid December and so if you did not decide to analyse this for yourselves and take the trade, now could possibly be time to look at it from a more conservative approach with ESLT.

If you then go down to the lower tomeframe ( not shown here ) you may see a pullback is perhaps coming and so a tighter entry again could possibly be determined from here, as this looks like a possible bullish flag is forming, therefore patience once again has to be applied as we have to wait for confluences to gather together to stop us chasing the trade. If these do happen then the 1.2950 area or even the 1.3200 area could be seen in the near future.

Please do your own complete analysis on any trades and be patient.














Charts courtesy of TradeStation.

Good luck for the upcoming trading week.

Clayton Farnworth.

Euro Dollar.

Good evening Dynamic Traders,

I trust you are all well and managing any trades you have open well and according to your rules.

Tonights cross is the Euro against the Dollar.

I am keeping this on my watchlist for a possible long trade should my confluences happen albeit that it is still in a downward trend.

At present we have got convergence across various timeframes, OS Stochastics on some, amounst other good indications but as yet no reason to enter.

We are approaching a good figure, but be aware of your 123/DB scenarios and depending on your stance, enter accordingly.

Good luck with all your trading and remember to do a full analysis on everything.

Charts courtesy of TradeStation.

Clayton Farnworth.

Manage your Trades

Good evening Dynamic Traders,

Tonights chart is just an example for managing your trade. It is aimed at the swing traders who are presently in the EURUSD. From the chart you can see that the price hit a '00' together with the Value index, and appears to be forming a spinning top or similar , as at the time of writing this. It also has an OB RSI and Stochastics on this and lower timeframes. Although this may only be a breather possibly about to happen it is best to lock in profits rather than give them back to the market.

As always , please do your own analysis, and as I update in the evenings, I will not post a chart tomorrow due to the markets closing early Saturday morning.

Hoping you all have a great weekend,

Clayton Farnworth.