Record day for US stocks sent the Yen lower but oddly the US dollar rallied. Still our Top SW Trades hit some new highs before pulling back.
AUDUSD + 196 Pips
NZDUSD + 134 Pips
looks like all the currencies gained ground against both the Yen and US Dollar, no new highs for our Top Trades but both AUD and NZD recovered nicely from Wednesday’s small reversal. I have seen a lot of calls for a stronger US dollar but so far that has not happened, Until something changes, we will stay the course and bet against the dollar
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While most the market was moving sideways, our Top Trade AUDUSD manage to top +200 pips on Friday before reversing and finishing with a little pinbar reversal, With Friday’s action I would expect we could see a pullback in AUDUSD early part of the new week, but nothing to suggest a trend change.
I urge everyone to have your own trading plan and know in advance when to take profits, for me, taking some profits at the 200 pips mark is a must
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New Zealand back on top but the Pound had the big day, GBPUSD has a beautiful long-term up-trend, Going long GBPUSD for a long-term buy makes sense here
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Good day for the Yen but our Top Trade NZDUSD hit a new high and bonus trade EURUSD looks ready to breakout
Look how Top Trade AUDUSD pulled back to and held the 200ma on the 1hr chart. You can keep your Bollinger bands, Fib levels, and any other indicator. I will take a simple 200 moving average over all of them
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Hi Dennis,
I really enjoy your system on currency strength analysis and have learned a ton from following you. I understand the importance if the 200 Moving Average. Could you elaborate on the significance of the 34 MA?
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On the daily chart the 34 ma is a proxy for the 4hr chart 200ma
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All of my Top Trades are breaking out to new highs, lots to talk about tonight
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An absolutely amazing week Dennis!
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Wow! so much to talk about, First GBP had a huge move today, On Monday I had recommended going long GBPUSD, had taken the trade you would have enjoyed a +250 pip move today. I will update the other Top Trades in the next post
NZD has just suffered a large “fall from grace” on a News Release… 50+ pips / 1hour
Here are the other three current Top SW Trades
First up is AUDUSD, still trending higher and topping the +250 pip mark
NZDUSD hit new high before finishing with an ugly looking Pinbar reversal, I would not want to hold after such a reversal
and finally EURUSD, yesterday I said this was ready to break out and today it happens, Now up over 400 pips for the month
including GBPUSD so far this month we have had 4 Top SW Trade buy signals to bring in a total of +1183 pips. That is a whole year of work for a lot of traders, we did it spending just a few minutes each night and never broke a sweat
Strong Weak Analysis is the way to swing trade FOREX
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Yes, a nasty Pinbar reversal on the daily chart, which is a lesson in why you need to lock in profit, I like to take profits in half my position at 200 pips and let the rest run with a break-even stop, but after that pinbar closing out is not a bad move
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I closed out at 205!
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From your spreadsheet, I see almost 5% difference between GBP and USD. Is this the highest difference you ever seen Denis? A difference of ~3% is usually a healthy SW trade …
This line is from June , 2016 following the Brexit vote, these can be dangerous as GBPJPY would have stayed our number one trade for many weeks as price pulled back to normal levels.
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When you said we only spent a few minutes at night to get the results .Does that mean you only look at trade right around 5 o clock
More or less, depends on my day and what else I have going on, I will either pull the numbers in the last 30 min before the close of the daily candle or I will come back after dinner and use the daily close numbers. I do most of my opening and closing of positions after dinner ( US eastern time) during the less volatile Asian session.
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Thanks Dennis . I really like your posts. I have read most of them and have a good idea how you trade unless you are holding out on us. Ha Ha
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Big move for Swiss Franc, GBPUSD, AUDUSD and EURUSD all made new highs before pulling back, US dollar has been weak for a long time, we might need to see a pullback and a little dollar strength before pushing higher in our Top Trades
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