CAD is our third #1 of the week as JPY stays in last place. Technicals point to an upward trend in our Top SW trades but we all know the Yen can turn on you without warning
Would be nice to see some methodology behind the “forecast”
Xivs, what do you have it named as on TradingView? I would be interested to have a look
Thanks
Where did this come from?
What data is available Monday from Dennis’s formula…
NZDCAD for a Buy… up 20 pips already on light trading.
So you read the CAD at 1.66% as the currency to sell, ergo, weaker?
And the NZD at 1.39% as the stronger currency to Buy, ergo stronger?
Which is why you said Buy NZDCAD, ergo buy NZD, sell CAD, correct?
Do you have an entry price? It’s moved 36 pips. so safe to say not far from the weekly open say 0.9011
IF that is the case, then safe to assume that you read, from the strong / weak sheet, the best pair to trade would be CADJPY to Sell ???
3 Hours later, there you go… I extended his graphs to include 23rd and 25th… not shown.
Dennis’s graph data is 26 (market) hours old by the time he posts on Monday (UTC+11), I don’t wait around to be spoon fed… just take his brilliant strategy and apply it…
Oh… and here as well. (15:06pm UTC11)
@The_Snowman… CADJPY was always due to reverse… JPY has been no.8 for too long…
makes sense to me, instead of being weeks behind, just do the opposite and be ahead of the curve
Hi guys just found this thread, very interesting read.
Can someone please confirm if I got todays rankings correct?
Hi trend,
how did you know that NZDCAD was the the best pair on that day even though it was ranked #1 and #3?
Yen is weakest on the day, that should be a good thing for our Top SW trades
Yes, it’s just not fair to have JPY weak for TOO long
Who can define TOO long better than you?
Mr Market, that’s who
Well, to my understanding, the price reading is taken at market CLOSE
Monday is 25th, and it 15:20 in New York so not officially Forex 5 PM closed yet
Are you predicting ahead or are the figures for last Friday close?
Just wait and compare with Dennis graph very soon
Did you not read his post?
He said " I extended his graphs to include 23rd and 25th… not shown.
Dennis’s graph data is 26 (market) hours old by the time he posts on Monday (UTC+11), I don’t wait around to be spoon fed… just take his brilliant strategy and apply it…"
Plus he used 2 other strength meters, and is trading this during the day and not long term as per Dennis strategy, ergo day traders are slowly taking over the original concept of this thread.
I’m sure Dennis will have something to say or do some banning if this continues; stick to the plan guys!
Strong day for Yen pairs, Top SW trades GBPJPY and NZDJPY had breakout moves higher, Strong Weak rankings point the way again
Hi @Jahruhay, I’m no Guru… But I will give some tips on the way I trade the graphs that Dennis posts (I generate my own) every few days…
First of all I very rarely trade the strongest against the weakest… 1 & 8… By the time the currencies have moved into these positions the trend is nearly over and ready to reverse, so it’s too hard (for me!) to pick the actual point at which to enter a trade…safely. Dennis does this, and it works well, very well for him.
I look at the graph across the two days (22nd - 25th) and see which currencies are on the move within… ie: you can now see that NZD has increased from 1.39% to 2.20% (+ 0.81%) and the CAD has decreased from 1.66% to 1.59% (-0.07%). Hence my BUY position on the NZDCAD… it’s almost a full 1% swing in strength to the NZD… and generated 65 pips yesterday…
Looking again at the Dennis’s latest S/W Rankings graph, ALL currencies have strengthened against their Friday values… so there appears at first glance that we have zero to trade… The GBP has gone from 1.63% to 2.21% (+0.58%) our strongest (-NZD), now let’s find the one with the least increase… the CAD is the only one… 1.66% to 1.59% (-0.07%)… so small (+0.65), so now look at the GBPCAD Chart and this should still indicate that a BUY opportunity may exist… (GBPCAD 1H Below)
We’ve now traded 1 against 3 across 180+ pips and hopefully grabbed some profit from the market.
It’s that simple… Now backtest it… thoroughly… look back over last weeks graphs, and do the same as I have done here… and don’t look at the charts until the data has told you what the result should be… it will give you confidence that your analysis is working… The 200MA has a lot to answer for…
Also apply the same formula across multiple days… some currencies can strengthen/weaken across 4 - 5 days giving you a huge opportunity to profit across the D1 Charts…
Hope this gives newbies an alternate entry strategy to Dennis’s phantasmagorical strategy…
PS. How’d I get a figure from the 23rd…? It was a Saturday…? I’m in Aust. so New York doesn’t close in my part of the world until Sat. at 9.00am…
@The_Snowman, NOT AT ALL, it is not the aim to have day traders take over the thread… just another way to interpret the data feed that Dennis’s strategy generates…
A while back I made a nice trade and I noted how it sort of flew in the face of Dennis’s analysis in my journal. I traded the weakest against the strongest. Low and behold the next day the strongest had been bumped out of first and the weakest had moved up a few spots.
I thought maybe we have found ourselves a momentum indicator?
Trends end and each currency will spend time in both the #1 and #8 spot, Nothing wrong with being a contrarian trader and going against my rankings but you still need to have a entry and exit strategy.
Don’t worry sir. I’m not basing any of my trades off of your system. I’m just trying to see if I can utilize it as another layer of confluence to the trade setups I’m already on the lookout for. I understand your concern and I sincerely appreciate it.