Richard Monnery « Dynamic Trader

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Steady Progression

Wednesday, November 23rd, 2011

Good Evening Dynamic Traders,

I hope your all having a great week. Tonight I would like to continue where I left off last week. In the day chart below you can see that price has continued to fall steadily. This is fairly good news for us, because it means that price is getting closer to our entry signal meaning which would mean that we should start to get ready to open a position.

The further price falls on the AUDUSD the higher this chart climbs on my watch list, how about yours?

In regards to the USDCHF, you can see in the day chart below that price isn’t climbing as well as it has been. The last couple of days of this week will be interesting, because we might see iif has what it takes to break above the resistance area.

Both of these charts are very high on my watch list.

I hope you all have a great rest of week.

Carpe Diem

Richard

Tags: audusd, usdchf
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Steady Climb and a Steady Drop

Saturday, November 19th, 2011

Good Morning Dynamic Traders,

The weekend is finally upon us. My apologies for the late update, I have made a last minute decision to come home for weekend for some home cooking.
I hope you’ve all had a great week and I thought I would round off some of the price action on the AUDUSD and USDCHF.

In the day chart below you can see the AUDUSD. Price is currently dropping, and if you look at the bigger picture since August you see a double top formation. However this will only be confirmed once price has broken the neckline and we are halfway there.

We can’t take action just yet, because it is too soon act, but standing a-side is also a position and patience is a virtue.

I also want to briefly look at the USDCHF, because price is still on its steady climb and recently it has tagged the bottom trend line of the channel which has helped price to continue its climb.

However now will be a very interesting time for the USDCHF, because price has arrived at the resistance area and I’m looking forward to seeing price has what it takes to continue to climb.

I hope you all have a great weekend

Carpe Diem

Richard

Tags: audusd, usdchf
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Still climbing

Wednesday, November 16th, 2011

Good Evening Dynamic Traders,

I hope your all having a good week and I’d liked to continue looking at the USDCHF. In my last update I mentioned how price on the USDCHF has been climbing within 2 trend lines which have made a channel. This week price has continued to climbed, only this week the climb in price has been more steadily however this could be because of price climbing closer to a previous resistance area.

Something else that Ii would like to highlight, is the price action on the SEKJPY. Recently price has dropped to a major support area which price then saw climb and perform a large pull back. If you look at the day below you will see that price has been falling again for just over a week now.

It might be time to keep an eye on the SEKJPY and see where price goes.

I hope you all have a good rest of week.

Carpe Diem

Richard

Tags: sekjpy, usdchf
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Looking at the Swiss

Friday, November 11th, 2011

Good Evening Dynamic Traders,

Yet again, another week has raced by and I a good week I hope it has been for you.

Tonight I want to start to look at the USDCHF, because if you haven’t seen it already, you may not be aware of the potential reversal that is currently happening. For over a year now price has been in a down trend and has given us many occasions to make some money and in the last 4 months price appears to reversing. In the day chart below you can see that price has climbed above the VI and spiked below the VI for a couple of days before climbing above the VI again. For the last couple of weeks price has been climbing steadily and keeping within a channel.

This has caught my attention because if price is able to continue to stay above the VI then a long position could be on the cards. What do you think?

I hope you all have a great weekend,

Carpe Diem

Richard

Tags: usdchf
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One last Look

Wednesday, November 9th, 2011

Good Evening Dynamic Traders

I hope your all having a good week.

I would just like to round off the last couple of days price action on the AUDUSD and the SEKJPY. In the day chart below you can see that the support/resistance line is currently holding price up and if you zoom out you can see that we have an inverted head and shoulders. It will be interesting to see where price goes now, because if price starts to climb and breaks above the neckline we then have confirmation of price climbing again. However we would also have to factor in the major pivot line.

In regards to the SEKJPY, price is still above the trendline and below the VI. This means that we have to stand aside for the time being. However if price is able to drop below the VI then we could be in for a larger move if price drops below the support line.

I will now move on and next we will be looking at other opportunities.

Hope you all have a good rest of week.

Carpe Diem

Richard

Tags: audusd, sekjpy
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No Action Today

Friday, November 4th, 2011

Good Evening Dynamic Traders.

I hope you have all had a good week, time to chill out and get prepared for another week.

As you know today was the NFP, which means personally for me I didn’t do much in the way of trading. I didn’t open any new positions, just managed my current trades as normal. I am currently experiencing some difficulties with my laptop, but I wanted to say to take the time to say, because of the NFP, I won’t be jumping into any action till after Monday, because it is important for the markets to settle after such a big report.

I have noticed recently that they are a few charts that aren’t performing as well as they have been, i.e. I haven’t been making as much profit as I was earlier in the year. Through a discussion I had with Zaheer this week, patience is virtual and something that we mentioned was that after every breather/consolidation price will move and open the opportunity for more profit taking opportunities.

I hope you all have a great weekend.

Carpe Diem

Richard

Tags: NFP
Posted in forex | Comments Off

Improvement short Lived

Tuesday, November 1st, 2011

Good Evening Dynamic Traders,

I hope you all had a great weekend and are enjoying a good start to the week. In my last update I mentioned how the AUDUSD has been performing better in regards to price climbing. However if you look at thee day chart below you will see that price has suddenly dropped. Price has even fallen straight through the VI, however if you look at the day chart you can see that price has fallen to a previous support/resistance area. Truth be told, I did expect price to drop but not by this amount and definitely through the VI, however the market is always right.

While price was climbing this chart was also slowly climbing up my watch list, but with the recent actions on this cross the climb on my watch list has also slowed. What this means is that it is definitely a waiting game for this chart, luckily there are other charts to look at, which I will look at next time.

I hope you all have a good week,

Carpe Diem

Richard

Tags: audusd
Posted in forex | Comments Off