Here is the document you referred to –
Alternative Technical Templates.PDF (2.0 MB)
I love that you posted this, because I notice that in damn near every pair. After it breaks through a certain level of support or resistance, it mostly always pulls back
As it is doing! Do you see that you could build a strategy around that sort of pattern
It’s funny because out of all of the trading videos I’ve watched, that seems to be one of the most commonly used strategies. I stated earlier in another post that I keep getting a bunch of light bulb moments, and that was definitely one of them lol
Great conversation guys, and where are the Trolls when our SW rankings nail a move like today in GBPJPY
now we need a test and hold above the 200 dma and we are off to the races. we just might be looking at some Yen weakness that may stick around for longer than normal
I am only posting this for this very reason. There has been some accusations recently that people come and go here and no one actually trades or makes money here. Well yesterday was the first 46 pips testing that Daily 200SMA…
…and here is today’s 54 pips after breaking the level to make the first 100 pips off this move.The rest of the position can now sit with it.
Don’t worry guys, I won’t make a habit of this, I just wanted to post some concrete evidence (albeit not comprehensive proof!) that this approach can/does make you money!
Here’s another way to trade. The same way we have muscle memory, the markets have memory. In the direction of Strong vs Weak…Using GBPJPY as we took out the Bull Fractals, the market came back to test the fractal zone and took off.
I had some concern over the potential double top and took profit with 225 pips. + I’ve been burned with JPY pairs this year so I played this one a bit more cautious and may have left some coins on the table.
Big day for the Euro zone and NZD, Top Strong Weak trade GBPJPY is up +156 pips and climbing as I post this
Thank you Manxx and Jay for posting this trade. Having an example trade is super helpful as I’m getting a feel for this system!
Is there a good way to trade S/W analysis with harmonic patterns and double tops etc?
Yes, I know I said I wouldn’t, but when I woke up?..well, sometimes if things seem too good to be true, take the money and run!!! Three strikes in a row
Now looking a for a place to get back in - retest of the 200SMA? yes, if that daily pivot doesn’t hold…
And that completes my testimony for this approach!
I took profit at the beginning of the bear candle, also looking to get back in. And I must say I made about 120+ pips on that trade (for those looking for proof)
This is how the Yen rolls, GBPJPY at risk of giving it all back, congrats to all those with sound trading plans that allowed you to lock in profits.
Hello, thank you for a nice thread, I enjoy reading this! Can someone describe how to place a reliable daily pivot I have seen you guys using! Or maybe post a link?
Tia
great thread. how can i obtain the currency s/w you show in the graphic. thanks, eric
JPY - Master in the art of instability.
I don’t think you can blame the JPY this time. This is a GBP move - compare the GBPJPY and EURJPY…and also take a look at the EURGBP!
Think I’ll skip re-entering this one, I just can’t trust GBP while these Brexit negotiations are at such a critical stage - and subject to big swings whenever anyone says anything!
I caught like over 100 pips on GJ (demo) earlier because of that But, you’re right though. You have to be careful still with this Brexit news going on
True - I got a notification from Bloomberg saying “Pound drops immensely because of Theresa May and some Brexit stuff”. So it’s likely not YPY’s fault. Also not re-entering
How do you calculate your strong weak ranking?
I also use strong weak index. But I don’t do the calculation by myself.
I use the StrongWeak application of FXCM.
It gives me the total pips movements for the last 15M, 1H, 4H, and 1D of every mayor currency.
Of course, it has a slight drawback: it doesn’t factor in the average daily range of each currency pair.
So, if GBP and CHF have the same positive pips movements, I must know CHF is stronger than GBP, since CHF has smaller average daily range.
I am fan of strong weak indicators.
And I would like to know how you calculate your ranking. Maybe it could be useful to me.
Thanks!