Coming soon . . .
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Looking forward to it, friend! 
Oh, and don’t forget the biscuits! 
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is it that time of the year again?
This is my version of Strong Weak rankings, which was inspired by Dennis’s thread. My currency ranking is much more sensitive than Dennis’s version, and I have develop it specifically to filter out pairs for Intraday scalping. I do still take note of Dennis’s ranking as well, so as to get a feel of the longer term directional bias for each currency.
The number below each currency represent the immediate momentum. For example, let’s take a look at GBP. On 24th JULY, GBP was ranked 4th and immediate momentum is +3.2. On 25th JULY GBP rose to rank 3, but momentum index was -0.4 which indicates weakness, this is the 1st sign that GBP is losing steam. On 26th JULY, GBP was still rank 3rd but the momentum drop even further from -0.4 to -3.0 . I’m expecting GBP to drop in rank in the coming Monday or Tuesday.
From Wednesday to Friday, CAD rose from rank 6th to rank 4th, with momentum index in the following order of -1.4, +2.2 to +2.4. CAD is still gaining momentum as demonstrated by the momentum index.
Henceforth, GBPCAD will be one of my focus for intraday scalping in the coming Monday, and i will be looking to short GBPCAD.
From a technical analysis perspective, the 1st attempt by seller to drove price lower was on Monday and daily S1 was breached, Friday was seller’s 2nd attempt and daily S2 level was taken down.
I have made a deposit of $1000USD to my Dukascopy’s live trading account. Wish me luck everyone!
PS:
Yes, i just receive my mid year bonus, thus have some spare cash to trade again.
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i wish you luck. really. no sarcasm.
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A shot of my home surrounding in the early morning.
Waiting for the bus.
Riding the train to my workplace. Attending a radiology workshop to clock some points. On a Sunday! One day burned…
Best part of a workshop is the free food! Early participant catches the food!
The training room.
This year my son is performing as cat in his nursery charity show.
My neighbour flying kite
Dinner at Long John Silver’s!
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Trading Day 1 (29Jul 2019)
29Jul2019
0618HR SGT
Symbol : CADJPY
Action : Long
Lot : 0.03
Open : 82.541
Target 82.591 ( hit target )
Stop: 82.349
Where is that you live? (City or country)
I live in Singapore. Both a city and a country, with a population of about 5million.
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Looks nice. I had two frirnds from/in singapore. But no contact anymore since years. One was about to make his CFA the other was/probably still is a commodity trader.
Where are you from?
Everywhere and nowhere. Stateless pretty much. University rochester new york, born south europe, living in germany few months, other months in south europe.
Always wanted to visit asia but never had the time. Well except maledives twice (not sure if maledives is asia or africa but it is pretty close to india). Tokyo hongkong and singapore are the cities id like to visit. With tokyo definately number one on the list.
Thats why i was interested where those pics are from. Always love to see perspectives of locals. Very interesting, tells a lot about a country/city.
Well, Singapore is a beautiful state, environment is quite clean as well, that is when compared to the neighbouring countries, only problem i feel is that during lunch or dinner timing, the food house are overcrowded. The traffic is really bad during the peak hours.
Breakfast of the day!
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Im used to traffic jams. Europe is full of them.
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So nice to see pics. I’d much rather see this than influencers on Instagram!
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29Jul 2019
0618HR SGT
Symbol : CADJPY
Action : Long
Lot : 0.03
Open : 82.541
Target 82.591
( adjusted to 82.641, manually closed at 82.567 )
Stop: 82.349 ( adjusted to 82.199 )
1051HR SGT
Symbol : CADJPY
Action : Long
Lot : 0.03
Open : 82.426
Target 82.491 ( hit target )
Stop: 82.199
CADJPY head south contrary to what i expected. Anyway, i decided to chip in a second position to sort of average my initial position.
1512HR SGT
Symbol : GBPCAD
Action : Short
Lot : 0.01
Open : 1.62700
Target 1.62399 ( hit target )
Stop: 1.63501
1539HR SGT
Symbol : GBPCAD
Action : Short
Lot : 0.01
Open : 1.62705
Target 1.62569 ( hit target )
Stop: 1.63501
Laksa, meal of the day.
All position closed.
Account current net gain :
[(1062.42 - 1007.62)/1007.62] x 100%
= 5.4%
2210HR SGT
Symbol : USDJPY
Action : Long
Lot : 0.03
Open : 108.650
Target 108.751 ( hit target )
Stop: 108.499
Since last Monday, USDJPY have been on a clear bullish trajectory. In the current US session, a breakout above Asian session High just occurred, demonstrating strong buying pressure. IMO, a test of Daily R1 level is indicated. Daily S1 level would serve as an immediate support level.
2233HR SGT
Symbol : EURUSD
Action : Short
Lot : 0.01
Open : 1.11286
Target 1.11199 ( target cancelled )
Stop: 1.11401 ( adjusted to 1.11501, stop cancelled)
0110HR SGT
Symbol : EURUSD
Action : Long
Lot : 0.01
Open : 1.11419 (hedged with previous EURUSD short with floating loss about 13pips)
For EURUSD, Friday’s daily High Low shrinked. Today’s daily HL range is even more pathetic, suggestive of ranging conditions. Price largely traded below daily Pivot level, illustrating that there still more seller than buyer as per se. Although a retracement breakout above daily R1 level cannot be ruled out, i’m inclined to take a short trade as i believe price is still making attempts to test daily S1 level.
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Nice to know that you’re back! 
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Trading Day 2 ( 30th JULY 2019 )
CHF is ranked 2nd, with a change in momentum index from -1.4 to +2.2 . JPY is ranked 6th, with a change in momentum index from +1.0 to -2.4 . My take is for CHFJPY to continue in its bullish rampage.
Technically, CHFJPY is hovering just above daily open and bouncing off 120MA, suggestive of trend continuation once Tokyo session open.
0716HR SGT
Symbol : CHFJPY
Action : Long
Lot : 0.03
Open : 109.745
Target 109.901 ( cancelled )
Stop: 109.499 ( cancelled )
1241HR SGT
Symbol : CHFJPY
Action : Short
Lot : 0.03
Open : 109.494 (hedged with previous CHFJPY Long with floating loss about 25pips)
Update of current positions
Current equity net loss
[(1007.62-1003.64)/1007.62] x 100%
= -0.39%
1305HR SGT
Symbol : CHFJPY
Action : Short
Lot : 0.06
Open : 109.507
Target 109.409 (struggling to hit target)
Stop: 109.801
2100HR SGT
Symbol : CHFJPY
Action : Short
Lot : 0.06
Open : 109.683
Target 109.619 (Hit Target)
Stop: 109.761
Point of control (POC) between 109.30 - 109.70
Reason for 2100HR SGT CHFJPY Short trade, CHFJPY market ranging conditions, speculating on a bounce off 109.70
Zooming in TPO : LMNOQ provides a level of immediate support at 109.55. A breach below 109.55 may tumble CHFJPY down to test POC support zone at 109.30 - 109.40
2320HR SGT
Symbol : CHFJPY
Action : Short
Lot : 0.06
Open : 109.655
Target 109.609 (hit target)
Stop: 109.761
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Trading day 3 ( 31JUL2019 )
According to my latest SW ranking, CHF dropped from rank 2 to rank 4, but momentum index is showing still showing signs of strength. Which means, CHF is being dwarfed and sandwiched by other major currencies, directionless.
For JPY, it is still holding its ground at rank 6, with a significant increase in net momentum index. Giving hints of forthcoming ascent.
Which is sort of a good news for my Short CHFJPY from yesterday.
TPO charts showed that the trading range narrowed to between 109.30 - 109.70 , with price bouncing off 109.70 and heading towards lower border of range at 109.30.
Interestingly, POC zone yesterday and value area are exactly the same, within 109.60 - 109.70 , deplorably tight. Price breached yesterday’s lower border of value area 109.55 , which IMHO is sellers initiation of short selling.
Overall, CHFJPY is skewed towards the downside due to the rising strength of Yen, with likelihood of being supported by Friday’s POC level at 109.30
Member Spotlight 
30JUL2019
1305HR SGT
Symbol : CHFJPY
Action : Short
Lot : 0.06
Open : 109.507
Target 109.409 (adjusted to 109.469, manually closed at 109.483)
Stop: 109.801 (adjusted to 109.901)
Last of my open position finally closed out in the green. I’m satisfied now. The remaining open position are in perfect hedge. One EURUSD hedged with floating loss of about 13pips. One CHFJPY hedged with floating loss of about 25pips.
I decided to temporary pause my trading and do some trade review. Reason being, FOMC interest rates decision is just on the horizon. Adding fuel to fire, another NFP monster lurks just around the corner. I reckon it would be wise not to get tangled up with these two mobster.
Late lunch at McDonalds
Happy Trading everyone!
Plenty of Green pips ahead…
29JUL2019
2233HR SGT
Symbol : EURUSD
Action : Short
Lot : 0.01
Open : 1.11286 ( daily swapped to 1.11300 )
Target 1.11199 ( adjusted to 1.11270)
Stop: 1.11401 ( adjusted to Buy stop order at 1.11701, Changed to 1.11601 )
30JUL2019
0110HR SGT
Symbol : EURUSD
Action : Long
Lot : 0.01
Open : 1.11419
Closed : 1.11459 (manually closed with positive pips)
31JUL2019
2051HR SGT
Symbol : EURUSD
Action : Short
Lot : 0.01
Open : 1.11512
Target 1.11449 (hit target)
Stop: 1.11701 (Buy stop order cancelled)
Although i say to stop trading, boredom got the best of me. I took a look at the chart and feel there might be an opportunity to closed off both the Long and Short trade with positive pips result. My long EURUSD was closed at 1.11459 with a few positive pips. I adjusted the previous Short EURUSD with new targets and stop order. I also make an additional Short scalp entry of EURUSD at price 1.11512, targeting 1.11449
Technically, today is the 3rd day of EURUSD bearish retracement. An hourly candle closed below Daily pivot level during London Open session signal a potential end to the current bearish pullback phase. Price is also steadily treading towards daily S1 price level. Although a breach below daily S1 price level would be a more valid sign that marked the end of the bearish retracement, I decided to go with my gut and make assumption that price will test daily S2 price level.
29JUL2019
2233HR SGT
Symbol : EURUSD
Action : Short
Lot : 0.01
Open : 1.11286 ( daily swapped to 1.11300 )
Target 1.11199 ( adjusted to 1.11270, manually closed at 1.11280)
Stop: 1.11401 ( adjusted to Buy stop order at 1.11701, Changed to 1.11601, buy stop order cancelled )
I finally manage to close both my Long and Short EURUSD position with positive pips. A case of squaring off a hedge that went well. On a side note, i’m lucky to have square off my Short position just before the FOMC interest rate fireworks.
Currently, i only have a remaining Long and Short CHFJPY position to deal with another day.
Current net equity gain
[(1088.98 - 1007.62)/1007.62] x 100%
= + 8.07%
2 Likes
Trading Day 4 ( 1st AUG 2019 )
30 JUL 2019
0716HR SGT
Symbol : CHFJPY
Action : Long
Lot : 0.03
Open : 109.745 (daily swapped to 109.755)
Target 109.901 ( set to 109.785)
Stop: 109.499 ( in hedge with short at 109.494)
30 JUL 2019
1241HR SGT
Symbol : CHFJPY
Action : Short
Lot : 0.03
Open : 109.494 (hedged with CHFJPY Long at 109.755 with floating loss about 25pips)
I haven’t got time to update my TPO chart for CHFJPY, but base on my previous TPO chart, trading range is between 109.30 - 109.70. I’m quite intrigue by how price respected the 109.30 by bouncing up at the moment. I just placed a target for my CHFJPY Long at 109.785 , if i get lucky enough to hit target, i will hold my CHFJPY short down , as i believe CHFJPY will continue to tread lower, base on my previous analysis. However, if my target for Long CHFJPY is not triggered, then it is very likely that i will be holding my Long Short hedge for many days to come.
Early lunch, Ginger onion fish with rice
As we can see from the TPO chart for CHFJPY, price is bouncing back and forth between 109.30 - 109.70 levels.
I was comparing Dennis’s SW vs my SW ranking. Dennis make use of 200MA, which i think gives a longer term perspective when compared to mine. What i’m seeing in Dennis’s SW ranking is this, CHF rose in rank and JPY drop in rank. Whereas in my SW ranking, CHF and JPY have yet to criss cross each other. What does it mean then? That’s the million dollar question. If i can’t deduce the answer, then the SW ranking is pretty much useless. IMHO, i think it probably means that there are more room for CHFJPY to drop further today at least until Friday’s NFP news release. I could be wrong though.
1st Aug 2019
1155HR SGT
Symbol : NZDUSD
Action : Short
Lot : 0.015
Open : 0.65550
Target 0.65399
( adjusted to 0.6552, hit target )
Stop: 0.65901 ( buy stop order cancelled )
1st Aug 2019
2319HR SGT
Symbol : NZDUSD
Action : Short
Lot : 0.015
Open : 0.65654
Target 0.65219
( adjusted to 0.65624, hit target )
Stop: 0.65901 ( buy stop order cancelled )
2nd Aug 2019
0102HR SGT
Symbol : NZDUSD
Action : Short
Lot : 0.03 ( exited 0.015lot at 0.65536 profited about 20pips)
Open : 0.65734
Target 0.65219
Stop: 0.65901 ( buy stop order )
I decided to book some profits and exit 50% of my NZDUSD Short position. Now, i’m left with 0.015 lot of NZDUSD in progress, hopefully will hit my desired targets early.
30 JUL 2019
0716HR SGT
Symbol : CHFJPY
Action : Long
Lot : 0.03
Open : 109.745 (daily swapped to 109.755)
Target 109.901 ( set to 109.785, targets cancelled)
Stop: 109.499 ( in hedge with short at 109.494)
30 JUL 2019
1241HR SGT
Symbol : CHFJPY
Action : Short
Lot : 0.03
Open : 109.494 (hedged with CHFJPY Long at 109.755 with floating loss about 25pips)
I reviewed my CHFJPY Hedged trade and had my targets removed from my Long position. When can i release the hedge will depend on NFP tonight, if NFP show signs of reversal, I might be able to release the hedge somewhere next week. However, if the bearish run continue, it would probably take weeks before there is any opportunity to release the hedge.
Above is a screenshot of my current position in progress.
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