JPY Sunset

Good Evening / Morning Dynamic Traders

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

Cross = USDJPY : Day chart below.

Good Morning Guys,

The markets continue to feed us pips of late and I hope those following the blog are reaping the benefits. I was away from the markets since Friday, after popping over to Ireland for the weekend. I let NFP have its say and as you are aware was in 18 trades, so management of these had been taken care of. With trend trading you are in the trade for a while and news items are not as essential to you as they are to the scalper or short term trader. Even though NFP did not have much effect on my trades, I was stopped out of the JPY on Sunday evening around midnight.

I had taken an initial profit on this cross and was risk free so despite being stopped out, there was no loss. One tip I will give you is to deduct or add the Bid/Offer spread to your stop. This will prevent you from seeing a marginal loss from what you think is a break even trade. (If you record your trades on a spreadsheet, a minus (£-1.60) is a minus and recorded as a losing trade.)

You will see from the chart below that price in the JPY had broke out of its range and then came up and used support as resistance and this morning showing a return to its downwards movement. Stochasdtics is not showing any strength in the trend at present and re entry to the cross may be available at a later date.












I have entered this morning into the GBPAUD on a short position and will look at the setup in more detail tomorrow.

Please do your own analysis before entering a trade.

To learn the methods and strategies, join the Dynamic Traders trading room, click here for details Trading Room.

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Trade with Passion

John Maher
Forex Analyst

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Japanese Yen signal.

Good morning Dynamic Traders,

Just a quick post today as NFP is out tomorrow, so caution is warranted.

There is a short entry signal on the JPY with trends down but price is currently at the golden mean and a T1 is after the fibonacci cluster for the reversal.

As we know trend trading is our goal although I do refer to a fibonacci reversal cluster above, this is because there was MACD convergence before the low of the end of November.

So with all things considered, perhaps this trade should just be kept on your watchlist until after the news for re-evaluation.

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

There will be no post tomorrow.

Good luck.

Clayton Farnworth.

Some you lose, Some you win !

Good Evening / Morning Dynamic Traders

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

Cross = USDJPY : Day chart below.

Hello everyone, thank you to those that found looking at where I went wrong on my trade entry of the AUD & NZD in the last post. I do not intend to make a habit of this as it can become costly, however if we all learn from it, we move forward with our education. Both crosses have continued to pull back deeper which would have given greater losses than the calculated risk I was happy to take. Remember "Money Management" is a vital part of trading and you do not want to be trading with greater than 4% risk (2% would be ideal)

With my trend trading, we have had plenty of oppertunities of breakouts since Xmas, even if some have been false signals. You will never get it right 100% of the time, just like you will never guess the "Top or Bottom" of a move. It is the movement or power we are looking for which will give the move some momentum.

Let us look at another trade I am currently in, the JPY in a DAY chart.













You can clearly see we have had a "Downwards" trend since mid 2007, with the VI together with a trendline giving resistance from above. Now lets look closer.













Price has tested the top resistance line, which has VI following in tandem in a classic manner. This has been illustrated in the insert, where we test resistance, pullback and then retest our resistance again. This time after the double top, price drops away and when it goes below the pullback we have a textbook entry to go short, with a stop just above resistance. I have drawn a couple of support lines that could test us on the way down. Not also the change in the MACD.

How many of you are in this trade, which has over 100 pips profit since entry ?

Please remember to do your own analysis before entering any trade.

Trade with Passion

John Maher
Forex Analyst

Follow our other blogs
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Falling JPY

Good Evening / Morning Dynamic Traders

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

Cross = USDJPY : Day chart below.

Welcome to the week and I hope all on the other side of the pond had a great holiday celebrating MLK Day.

On my last post I told you one of the trades in my basket was the GBPCAD, which stopped me out with no loss due to my trade management system. I have since re entered this trade on a short trade which is in a marginal loss at present, but it is early days yet.

Tonight I would like to look at another one of my current trades and that is the JPY which you will see from tonight chart is in a nice steady down trend. You will also notice how important the VI is playing with the price.

Price has remained closely linked to the VI and has found resistance of late, Yes the price did go outside the drawn trading channels, but this could have been a fake break out or double top and we also have a RN.

Indicators are "Bearish" and a move down could be on the cards. Please make your own analysis before making any trades.














Using our ESLT, I am Short on this trade, entering at 90.722

Trade with Passion

John Maher
Forex Analyst

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The Japanese Yen

Good evening Dynamic Traders,

Tonight update is going to be a very quick one due to something else I have to do.

Firstly may I welcome John back to the blogging forum and I am glad you have recovered.

The JPY could be reverting back to its downtrend after tagging resistance at its trendline and V.I.

However I am one confluence short and so I am keeping it on my watchlist.

Charts courtesy of AdvancedGet.

Good luck.

Clayton Farnworth.

Sun setting ?

Good Evening / Morning Dynamic Traders

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

Cross = JPY : Various Charts (Posted Below)

On looking through my day charts, I noticed and want to bring to your attention the JPY.

As usual on drilling down we look to the Monthly chart for an overall picture and check on the trend for strength of movement.















It is plain to see we are in a downtrend since 2002 and before that pullback you could look to 1998. You will see from the more recent trend lines drawn on the chart, we have been creating some lower lows since 2007.

The weekly chart















Here you see the more defined down trend that we are in and the support line drawn that provides the squeeze on price. With price in it's squeeze, which way are we looking to break ?

Remember the trend is your friend.

Day Chart

(Software is currently not allowing me to upload images, Please refer to your day chart)

We have the VI sitting above the price and you will see that price reversed at the resistance trend line. Since then price has retraced and if to produce another lower low, then it should break through the support line. I am sure some of you might have seen this set up over the last 6 days or so and maybe already in the trade. If that is so then well done.

Lets follow with interest.

Chart courtesy of Advanced Get. Data provided by eSignal.

Trade with Passion

John Maher
Forex Analyst

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http://www.fxcps.co.uk/blog
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The Japanese Yen.

Good afternoon Dynamic Traders,

Firstly I would like to wish John a speedy recovery from his recent illness and wish him all the best.

Todays chart is of the JPY which could possibly have further downside as it is showing a 'kind of' bearish flag pattern and is also in a short term down trend, but is in proximity to a figure.

Get Stochastics is also sporting a confluence with this possibility as it has a false bar to the downside indicative of the consolidation possibly breaking.

Please be aware of the resistance from the recent swing low which could give rise to a false break-out.

Also MACD is not much use here due to the channel trading of late as shown on the chart.

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

Charts courtesy of AdvancedGet.

Good luck.

Clayton Farnworth.

Yen sets lower in the EAST

Good Evening / Morning Dynamic Traders

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

Cross = JPY: Day Chart (Posted Below)

Those of you on tonight's webinair should have enjoyed a well presented piece on the effects of the mind regarding trading by fellow blogger "Saba Jackson", I hope you enjoyed it as much as I did. Thanks Saba.

I have moved to the EAST for this weeks cross and chosen the JPY, so as usual lets get a flavour of what is happening or has happened.

The MONTHLY chart shows the trend being sidewards to down, with prices not yet as low as in April 1995. Since the highs of June 2007 we have had a down trend with two pull-backs before price continuing DOWN. The RN 100.00 is providing resistance to the price.

The WEEKLY chart shows the squeeze on price in more detail and also shows a potential BOB to the SUPPORT line with little space left in the squeeze. A move onto the Day chart will show even greater detail.

On the DAILY we have VI patrolling the sky above the resistance line and RN 100.00 adding to the force down. RSI is below 50 and pointing down, with stochastic s entering the OS area. The potential BOB has breached the support line of 21st January 2009 and also a key support line of 95.69. Patience will be needed as the day candle has a way to go to become complete and then our measuring tape can be used for ENTRY.















Courtesy of Advanced Get / E Signal

Trade with Passion

John Maher
Forex Analyst

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Yen over the top !

Good Evening / Morning Dynamic Traders

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

Cross = JPY : Day Chart (Posted Below)

Another move up today of around 140 pips, with price pushing through the value index. Early noise in the price is showing a reversal which would be expected, having moved up for some 4 days without breath.

Do we have a pullback or breather ???

Patience will tell. Key news on USD Friday

Stochastics are OB with false signal, MACD above signal line and zero line

RSI strong @ 79.96 and still trending up

I hope you learned much following the YEN this week and look forward to speaking to you all on Sunday night.















Courtesy of Advanced Get / E Signal

Trade with Passion

John Maher
Forex Analyst

Check out our other blogs

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The Yen,The Yen and the Yen !

Good Evening / Morning Dynamic Traders

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

Cross = JPY : 60min Chart (Posted Below)

Another profitable day on this cross, with many taking profits, keep your pips, give me more ?

Early indication is a continuation of price in its current trend, pointing towards the retail index and major resistance and BIG RN 100.00

On RSI if price could stay at the moment if above 65 would give a healthy run

MACD is below our entry and wanting a deduction on price ! with Stochastic s tweeting some noise about over bought on numerous time frames.

I have kept the 60 min chart and placed a set of trend lines which are following price, very nicely
if not predictable.

Always carry out your own analysis before entering a trade
















Courtesy of Advanced Get / E Signal

Trade with Passion

John Maher
Forex Analyst

Check out our other blogs

http://www.fxcps.eu/
http://www.fxcps.co.uk/blog
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Win Yen Win ?

Good Evening / Morning Dynamic Traders

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

Cross = JPY : Day Chart (Posted Below)

I hope you all had an enjoyable week end away from the markets and are ready for another week of volatility. The forex markets have been an interesting place to be over the last 18 months as countries of the world try to sort out their financial crisis out. I was reading at the week end that more and more people are turning to invest their monies into the forex rather than the stock market. Good news for the Dynamic Trader as it will mean more dumb money for the markets to play with and more for us smarter ones to profit on.

I thought this week a visit to the JPY was overdue and at the same time remeber to keep in mind the studies we have done of late, as there is one or two trades availible within those crosses.

The JPY below shown on a day chart,has been in a downtrend as you can see from the lowering of the retail index above price, and since its low on 17/12/08 has moved sideways.

I have drawn in for you Support & Resistance lines which have given us both double bottom and top accordingly. These have tended to be predictable and you would envisage a move down in price as its next course.

On studying the RSI we find a different story. If we compare RSI vs Price on the double bottom we find convergence. Then we look at the latest pattern of double top and again we find convergence.

We have RN 94 and resistance 94.64 to use for a BOB and ESLT if price heads up as RSI indicates.

If we stick with the trend, price moving down within the support / resistance channels will give plenty of opportunities to enter the trade.

As always do your own analysis before entering the trade and use a stop loss.















Courtesy of Advanced Get / E Signal

Check our other blogs, online
http://www.fxcps.eu/
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Trade with Passion
John Maher
Forex Analyst

JPY - Land of the rising or falling Sun ?

MobaTalk Multimedia Messaging | Video

Courtesy of Advanced Get

John Maher
Forex Analyst

Japanese Toothpaste ?

MobaTalk Multimedia Messaging | Video

Courtesy of Advanced Get

John Maher
Forex Analyst