Toe in the water

Good Evening / Morning Dynamic Traders

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

Cross = CADCHF, Day chart below.

Good Morning Guys,

As always the markets give a little and then take a little and this has been happening over the last week.

Those that follow this blog should be in profits from the trades we have looked at and entered. If you have lost your nerve and closed your trades then you will be the long term loser.

No matter how long we analyse a trade or how many indicators we use, the market will dictate what is to happen, therefore we have to try and have things in our favour. This is where the words "High Probability" and "Confluence of Events" come into play. There is no hard rule as to how many you need on your side, the more the better.

As TREND traders we do want the TREND in our favour and our initial entry is our "Toe in the water". Our initial target is T1 and if this is hit, it will give us an answer as to whether we have found a trend or not. If T1 is hit we will be risk free in the TREND and looking to make further gains.

The mechanics as to how all this takes place, are taught in the "Trading Room" and for those interested we have a link at the bottom of this blog.

Yesterday our basket provided a further 3 crosses hitting T1 with over 500 pips of profit, which now puts us risk free in another 3 crosses. EURNZD, NZDJPY & CADJPY.

How many of these will continue to harvest profits is unknown, as the market decides, however we have taken profits on ALL 3 and are now RISKFREE.

Some WILL, Some WON'T, So WHAT, WHAT is my next trade ?

Note: the CADJPY has got a "Double Top" therefor could reverse and stop us out, it is also the only one of the 3 that DOES NOT currently have strength in the trend.







































Please look at all 3 charts, we have a Short and 2 Longs, one of which is showing a "Double Top".

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.

Dynamic Trader members can join our trading room by clicking here.

Trade with Passion

John Maher
Forex Analyst

Follow J9JDM On:

Follow our other blogs, .eu & .com

The New Zealand Dollar Japanese Yen.

Good evening everyone,

I am afraid that there is nothing much to write about tonight as trades go because not many things are happening regards new positions due to pullbacks, consolidations etc., so tonights chart is just to keep an eye on to see how things pan out.

It is of the NZDJPY, and looks like some degree of a northward move could happen, but early resistance would be found at either the trendline or highs of October and January therefore no entry is recommended on this pair but as usual just use it to try and learn from to see how it reacts to the obstacles laid before it.

Charts courtesy of AdvancedGet.

Good luck.

Clayton Farnworth.

Where's my pips gone ?

Good Evening / Morning Dynamic Traders

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

Cross = NZDJPY : Day chart below.

Good Morning Guys,

Those following the blog over the last couple of weeks will be going through a number of emotions as our ship is being tossed around the oceans (market) waves. In profit one minute and the seas are calm, out of profit the next and a storm brewing up. To be consistent you must be ........... CONSISTENT, therefore you should never abandon the rules you entered the trade with in favour of scalping some profits. Easier said than done.

Last week up until Thursday our ship was laden with pips and profits, Friday and this morning we saw the market pull back and reclaim some of our bounty. 6,000 pips we accumulated, yet this morning we only have a little over 3,000. For those that have scalped before, you will find this hard to live with, however as "trend traders" we are in it for the medium to long term and after every big move there is consolidation or pull-back.

You will recall we were managing 30 trades and since Thursday we were stopped out of AUDNZD without loss due to be risk free in the trade and this morning we were triggered into both CHFJPY & NZDJPY on Long positions.

So as one door closes another opens and we now have 33 trades on the table. You will see below the chart for the NZDJPY illustrating yet again an aggressive entry with the trend.














The trend is UP long term and we have been in period of consolidation. Price dropped below the VI and produced a double bottom within a "W" formation. This formation retested and broke through the VI and resistance became support. Using the pivot high of the pullback as an entry and a stop just below the VI we have been entered into this trade.

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.

Dynamic Trader members can join our trading room by clicking here.

Trade with Passion

John Maher
Forex Analyst

Follow our other blogs
http://www.fxcps.eu/blog
http://www.fxcps.co.uk/blog
http://www.fxcps.com/blog

The New Zealand Dollar Japanese Yen.

Good evening Dynamic Traders,

Tonights chart is of the NZDJPY.

Current price action coulod possibly be forming a bearish flag/two legged extension, but the V.I. is not too far below.

Price is following the underside of the broken trendline here at the moment and RSI is down and below fifty, but caution is warranted as all trends are up and NFP is out tomorrow.

Keep an eye on this cross to see the outcome of the battle between a possible pattern against the trends.

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

Charts courtesy of AdvancedGet.

Good luck.

Clayton Farnworth.

The New Zealand Dollar Japanese Yen.

Good evening Dynamic Traders,

For some reason I cannot upload an image tonight and so will try to just explain.

The cross is of the NZDJPY which is currently inbetween breather levels for the downtrend from the middle of 07 to Feb 09.
Since February this year price on this pair has been trending upwards, but with a couple of deeper pullbacks than would have been liked, and is currently going into a squeeze formation whilst heading for a strong former R/S zone with a good figure a little further north.

AdvancedGet Stochastics has had false bars on top but does not at present due to the consolidation happenig at present.

This is one for your watchlist to await a break of the trendlines you will have to draw and reistance levels as it is currently making a triple top.

Dont trade against the trend and these are up at present, unless you are more certain of this direction and look for the confluences which are quite abundant but as said be patient and wait for confirmation.

Good Luck.

Clayton Farnworth.