Author Archive

« Older Entries
Newer Entries »

Cable Bears Gaining Momentum?

Wednesday, November 16th, 2011

Good afternoon ladies and gentlemen

I have broken even on the EUR so I am now risk free on it which is always good. Now it is a matter of letting things unfold and in the mean time going fishing for other opportunities.

The wonderful Sonia last did market analysis a week ago on the GBP which you can read here. Since that Double Top at the VI and the figure the Bears have have come in strong and price has dropped around 450 pips with today’s price action breaking through the drawn in resistance line. Further moves South and a flag and this will start to look interesting. Of course there are further resistance lines on path of descent so T1 has to be achievable. However, the conservative Trader may opt to stay out until the low of September is taken out before jumping in for the ride. Stochastics is heading into OS territory but is still not siding with the Bears. Patience still needed.

As always do your own analysis.

I bid you all a good day.

Zaheer Anwari

 

 

Tags:
Posted in forex | Comments Off

South African Bulls Pushing North?

Tuesday, November 15th, 2011

Good evening ladies and gentlemen

I hope you have all had a wonderful start to the week. It helps when the weather was like the way it was today. It’s amazing how the trees have still managed to hold on to their leaves deep into November. Global Warming? If we used American terminology here, we have to change Autumn to “No Dear. Still not “Fallen”. ”

So could we be seeing some moves in the markets before the year is out? The EUR, which you may have chosen to take, is now sitting in profit after the pull back of Thursday and Friday last week. As we know once triggered, price rarely goes straight into profit. Now all we have to do is let price unfold and manage accordingly.

Below I have the daily for the ZAR which is still a way off from being “ready” but one that should not be too far away from your watch list. The figure of 8.000 has been an area of comfort for price over the last 2 months. However if the Bullish action of the last two days continues then we could see the high being retested and then a possible Break Out. There is however a Resistance line directly above that at the  8.800 mark and then the figure of 9.000 above that. Where you chose to enter will very much depend on your style but where T1 lies is of most importance. As things stand though, regardless of style, we need to be watching from the sidelines until we have that high probability set up. If price fails at the high and the Double Top forces a reversal, then a break of the VI will be our signal for a Short stance.

As always do your  own analysis.

“Patience is bitter, but its fruit is sweet.”

Zaheer Anwari

Tags:
Posted in forex | Comments Off

EURGBP Breaks Low!

Wednesday, November 9th, 2011

Good afternoon ladies and gentlemen

I hope you had a great week so far. My entries have also gone in on the opportunity that has presented itself on the EURUSD today but have yet to be triggered. Dynamic Traders will have had that email sent out to them this morning. If you want to be part of the inner circle, sign up here.

Below I have the daily for the EURGBP, one which as we should know by now has not been tradeable since the end of 2009 with price sidewinding around the VI between the figures of 0.8000 and 0.9000. Price is still very much in that range but heavy Bearish action, as on the EURUSD, has allowed price to break below a low within the range. This chart may not be for everyone, in which case you are best to stand aside until the figure 0.8000 is taken out. However, if you have a more aggressive nature, than any further moves South, and if Stochastics decides to look favourable and if T1 is placed appropriately then this maybe one you decide to take. Just be aware of the other S and R lines on its descent, which may prove a hindrance to price  and so could all the news based around the Euro Zone. Jumping in now would be a little too risky as price has been ranging for so long that this could easily prove to be a FBO.

 

As always do your own analysis and trade according to your style.

“Personality has the power to open many doors, but character must keep them open”

Zaheer Anwari

 

Tags:
Posted in forex | Comments Off

Gold Rush?!

Monday, November 7th, 2011

Good evening ladies and gentlemen

I hope you all had a wonderful weekend, managing to release some of that frustration that is building up as the markets continue to play havoc with our senses. Remember, as hard as it is and that feeling of “but I feel like I am not doing anything” continues to manifest itself in you like an unwanted tape worm, do NOT break the rules. It is always a timely reminder that standing aside is also a position and as we have also heard the longer the consolidation the bigger the breakout so our patience will eventually be rewarded. As Dynamic Traders, we are blessed with the goodies given to us on a weekly basis but remember to always do your own analysis before updating your watch list in order to be ready to change your status from “standing aside” to “orders are in”.

Below I have the daily for Gold and one that we should all know by now should have nothing but a Bullish bias. However, timing of entry is key and simply because Gold has been going Long since for ever doesn’t mean we should randomly open positions. Price rarely moves in a straight line. Periods of market correction take place where significant losses can occur to your trading account. I spoke to someone a while back and they asked me my opinion on Gold, and without giving away too much (after all they weren’t a Dynamic Trader!!), I simply said I would stand aside. I asked them what their stance was and the reply was “I am convinced it is going to hit 2000. I have a really strong feeling about it.”  That was back in September and that was when this current period of consolidation hit and a damaging one it would have been for any novice traders.

Price pulled back to a previous Support line, did a triple bottom (in an up trend!!), and now The Bulls seem to be gathering momentum. Again price is still within the consolidation period so a break out of the high would keep us on alert. However, price is the number one indicator and that break out would take us into close proximity to the psychological figure. A little more patience and letting price clear this, retest or flag, would be my preferred choice of action. Stochastics is yet to favour the Bulls revival so is this surge short lived?

As always do your own analysis.

“I was an accomplice in my own frustration. ”

Zaheer Anwari

Tags: ,
Posted in commodities | Comments Off

Finally AUDCAD and JPY Dams Broken?

Thursday, October 27th, 2011

Good afternoon ladies and gentlemen

This is just a quick update on the AUDCAD, which is a follow up from yesterday.  Price broke out of the range on Tuesday but the Bears came back in taking price range bound again. Today shows the advantage of Trading with the trend as the Bulls have claimed back all that was lost yesterday by moving around 200 pips. I would still want to see further Bullish action on this before jumping in for the ride and in addition the position of T1 has to be considered in relation to next the next Resistance line. You will have to pull back your date on the weekly to see where that is.

 

The JPY has also been on my watch list and has been covered over the last two weeks in my market analysis. It is also showing interesting price action which we have been waiting for.

As always do your own analysis.

“Never take your eyes off of your opponent…even when you bow.”

Zaheer Anwari

Tags: ,
Posted in forex | Comments Off

AUDCAD FBO!

Wednesday, October 26th, 2011

Good evening ladies and gentlemen

Today I have for you the AUDCAD, which teased us with a Break Out yesterday but today the Bears came in aggressive and taken price straight back into the range bound zone. This pairing has never been the easiest to trade on a long term basis with a combination of short trends with deep pull backs so this chart would not be for everyone. What price did do yesterday was finally break out of the zone at the 4th attempt since June of this year. The ultra aggressive may have been triggered in yesterday but today’s  bar would have taken them firmly into negative territory and possibly even had their stop tagged. It is very much a Bullish bias we should have with price above the VI and the 1.000 mark. In addition Stochastics is siding with the Bulls but the candlestick on the weekly is now suggesting reversal so will price head back into the zone? As price has been in consolidation for so long, the safer bet would be to wait for a clear break and possibly a flag before putting in your entries. More patience needed on this yet.

As always do your own analysis.

“Patience and diligence, like faith, remove mountains.”

Zaheer Anwari

Tags:
Posted in forex | Comments Off

Patience Rewarded On JPY?

Monday, October 24th, 2011

Good afternoon ladies and gentlemen

I hope you all had a wonderful weekend and are ready for another week in the markets. It’s easy to get complacent when markets are in consolidation so it really help to have the Market Reports and the weekly webinars to keep us focused. We are blessed to be Dynamic Traders. Thank you Javid and Anne.

I finally got around to watching the Million Dollar Traders documentary which was aired last year on TV. It is a fascinating insight into the life of a City Trader and the amount of stress and pressure they are under to make money. It really drives home the difference between trading on fundamentals, like they do in the city, and the way we have been mentored to trade using Smart Money emotion-free long term trading using technicals. In addition how blessed we are to have been given the knowledge to turn over regular profits by getting our analysis down to less than 30 minutes a day. So thank you again Javid and Anne.

I have been following the JPY on and off for the last couple of weeks and it is finally starting to show life. Price has been in a range for the better part of 3 months. Last Friday’s bar spiked below the 76 Support line but the Bulls came in and pushed it back into the zone. The Bears have picked up the fight again today and it seems like they maybe attempting another Break Out. If this happens this week then depending on your Trading style you should be at the ready either for an aggressive break out entry or an alternative like a pull back entry or an entry on the second break out. As this period of consolidation has been so prolonged, my usual aggressive stance will be put on hold and instead I will wait for an alternative strategy opportunity most likely a pull back so I can get in early. This should be on your watch list.

We are still waiting for Stochastics to side with the Bears. What does your own analysis say?

“Patience is passion tamed!”

Zaheer Anwari

Tags:
Posted in forex | Comments Off

« Older Entries
Newer Entries »