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Friday, December 30th, 2011Big Bounce on AUDNZD
Tuesday, June 14th, 2011Morning traders,
Today’s analysis is on the previously documented AUDNZD. The Advanced Get chart shows a bounce with the green bullish bar from yesterdays session to the figure. The trend identified by False Bar Get Stochastics is down and price is below VI. Currently the chart is above the support zone (blue dash line) and a break of this region will likely show further weakness towards the next support zone.
If price breaks above the VI and resistance zones (red dash line) then we have a bullish bias but at present it is certainly more bearish and enough to warrant pur short position.
Courtesy of Advanced Get and eSignal.
Good trend trading…
Javid Shaik
Dynamic Trader
EURSEK Doji Candle
Thursday, June 9th, 2011Morning traders,
This is a brief update on the EURSEK due to time constraint so this post is not accompanied with a chart.
Yesterdays session hit the VI with a Doji candlestick. Although Stochastics shows as overbought and price is at the weekly trendline resistance, the last false bar Stochastics appeared above so the probability is low for a short but the opportunity is still there. Trading Room members wanting to enter on this trade should halve the risk and apply the ESLT which would provide the entry after the figure. Last point is watch the target with consideration to the pink line.
As we have already been triggered into the AUDNZD which is the higher probability trade of the two opportunites this morning, we will not personally be taking out the EURSEK.
We would like to congratulate one of our members for hitting his target of 10,000 pips (not banked) for the year. Well done Prakash and hopefully this serves as a basis for consistency and further profits.
Good trend trading…
Javid Shaik
Dynamic Trader
Trading the trend
Wednesday, June 8th, 2011Morning traders,
The USDDKK has been in a downtrend and as trend traders we have made good money from this trade so far.
The recent pulback had triggered our stop leaving us without any positions in this cross. We are now looking to enter this trade and are waiting for our initial basic set ups to confirm our interest after which we use our own trading tools and trend trading strategies to enter and manage the trades.
Advanced Get users will notice that currently XTL is black so that suggests standing aside is appropriate. If XTL turns red and Stochastics forms a false bar below then our interest is ignited. Prior Stochastics shows a false bar (pink shaded region) with red candles. The trendline also indicates the trend confirmation on this cross.
Good trend trading…
Javid Shaik
Dynamic Trader
Aussie Kiwi Engulfing Candle
Tuesday, June 7th, 2011Morning traders,
We have another set up taking place and it is currently forming a Bearish Engulfing candle.
Although the day is not completed and price is above the figure, it used the VI as resistance and todays big range bar is showing the weakness. The 123 chart pattern followed by the trendline break and XTL overlayed on price has turned red as well as Get Stochastics forming a false bar below is suggesting further weakness.
We have the technical set ups and we now need the price to confirm this set up. Dynamic Traders will use our trading tools and strategies but for readers of this trading blog that have not previously joined our Forex Apprenticeship or our Trading Room, a possible method that can be considered is a simple break of the low (blue line) for an entry.
Good trend trading…
Javid Shaik
Dynamic Traders
Dow XTL Turns Black
Thursday, June 2nd, 2011Morning traders,
What a day on the markets yesterday. Greece is running out of time and money, the Dow Jones plummeted a massive 279 points and Microsoft was rumoured to buy Nokia.
While other than being news, as Dynamic Traders we dont really are about Microsoft rumours as it is not something we are interested in trading. However, the Dow ending the day on a bearish engulfing candle is something we are interested in. Below is a daily chart taken from Advanced Get showing some technicals.
- Starting with the common sense trend lines, price is trading just above the lower trendline and below the upper trendline and is coming into a squeeze formation.
- Stochastics has suggested the trend is up (green shaded area) and is now showing as oversold (yellow shaded area) but without a false bar suggesting the trend has not turned just yet.
- XTL has turned black telling us to stay out of the market at present.
For GET users, the basic trading method for a bearish bias confirmation would be to wait for Stochastics to show a false bar below, a break of the lower trendline and the XTL bars to turn red. Dynamic Traders have enhanced trading tools and strategies to determine the market trend and when the time is right, we will discuss this in the trading room.
For the time being, stand aside and wait for our complete confirmation before entering the market. As of now, what we can read is that the market has reached a pullback level of almost 50% and is still in an uptrend. A change of the above will change the bias on the Dow.
Good trend trading…
Javid Shaik
Dynamic Trader
Critical Support
Tuesday, May 31st, 2011Morning traders,
The long weekend in the US and UK is now over and time to focus on the markets again.
We have reached the support zone on the GBPNZD pair today. The Advanced Get chart below shows the green shaded support area with contribution from the figure. Stochastics is oversold but with a false bar suggesting the trend is down. However, Advanced Get users will notice XTL is black so that means at the moment stand aside. MOB (not shown on the chart) is currently sitting around the 1.9400 area. Dynamic Traders can use our enhanced and precise tools in which to apply and trade this currency pair.
Good trend trading…
Javid Shaik
Dynamic Trader
