The Singapore Dollar Japanese Yen.

Good evening all,

As has been said by the other bloggers on these sites, frustrating times are testing us all, with the pullbacks and consolidations, but this is just part and parcel of trading, so just to reiterate, stick to your plan and therefore your trading rules.

Onto tonights chart which is of the SGDJPY and has today pierced former resistance and is bullish at present after the long consolidation.

The RSI indicator is showing OB though, but when trying to breakout can quite often be in this position.

Should a northward move occur you should know how to trade this with verification, but if it fails it will just go back into its 2009 range.

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

Charts courtesy of AdvancedGet.

Good luck.

Clayton Farnworth.

The Singapore Dollar Japanese Yen.

Good evening Dynamic Traders,

Tonights chart is of the SGDJPY.

As can be seen price is in a consolidation after the bounce up from the large move down at the moment and so is not good to trade but we can get ready for a break.

All trends have just turned down, and price is currently testing the V.I. (which is flat), with a gravestone doji, at the time of writing, which is an indecision candle as you know.

Price is the most important part of any chart and has nearly tagged the Golden Mean today which is clustering with the V.I. thus possible causing the indecision .

Trading is best done with the trends but await your planned entry which could now be determined due to confluences building including some AdvancedGet indicators like the Elipse etc. but this is only a guide as we all know price will do whatever it does.
Another indicator in our favour is the GetStochastic which has the last false bar to the downside.

A short trade would be aggressive here as the consolidation should be broken to give us better direction but if intraday trading, await your trigger point.

Whichever direction it goes use your filter to enter, but the better direction would be with the trend, but as previously mentioned a break of the resistance could happen, be patient.

Charts courtesy of AdvancedGet.

Good luck.

Clayton Farnworth.

The Singapore Dollar Japanese Yen.

Good afternoon Dynamic Traders,

I am going to alter my post timings a little to try to account for or work better with the end of day, and so with that in mind I am posting this afternoon to try and let anyone reading today be able to analyse the chart for themselves ready for tomorrow.

The image below is of the SGDJPY on the daily timeframe, and after the recent Dynamic Trader tuitoring that I know many of you had, you will know why I am showing this chart.

As can be seen from the chart below, the big fall from the second half of last year has resulted in a bounce back up from the beginning of this year to a position between breather levels and making a triple top, and price has broken down now below the trendline and is also below the V.I.

Other confluences are present for the shorting side, but caution maybe warranted until the low of July is passed approximately 70 pips south as the shorter term trend is down but the longer is up

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

Charts courtesy of AdvancedGet.

Good Luck.

Clayton Farnworth.