Yen is weakest on the day, that should be a good thing for our Top SW trades
3 Likes
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
1 Like
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
3 Likes
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…
9 Likes
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?
3 Likes
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.
3 Likes
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.
1 Like
Daily close is used with the current 200 moving average to get these readings. Looks similar to Dennis’s rankings. 
1 Like
@KiwiYen what type of trading strategy are you trying to get confluence for? Reversals? Unless trading intraday like TWB’s style mentioned above I think that using the ratings for anything else bar established trend following is very risky. IMO, generally, the contrarian position to the market/sentiment is following the ratings as most retailers keep trying to pick the reversal, which is far more difficult and likely to result in drawdown than taking the S/W positions.
Take the AUD/JPY position pre flash crash, the market sentiment was strong long as punters thought it must be out of steam and reverse soon…(and I guess it did…eventually)
Apologies if I have misinterpreted your analysis/use of it.
That said, I am trying to find ways to get in earlier and am currently analysing each trade from 2018 taking positions #1/8, #2/8 & #2/7 with max DD etc.
@Dennis3450 Thanks for all your hardwork keeping this thread going. Am a long long time reader but first time poster.
4 Likes
I trade pretty simple price action setups at S&R levels. As far as reversals, I have had good luck trading pinbar reversals but only in the direction of the larger trend. I’ve also traded H&S patterns, which is a reversal pattern, with quite a bit of success. You could say I’m a student of Nial Fuller. I only trade the daily at the NY close… Honestly, I haven’t gathered enough stats to say whether I could even use Dennis’s system to my benefit. If I notice something interesting in his system that may be applied to a trade, I take note of it. If a statistical advantage becomes apparent, I may use the system as a filter to weed out less statistically advantageous trades.
2 Likes
We’ve now traded 1 against 3 across 285+ pips and hopefully grabbed some profit from the market.
I’d have my stop not far behind this run… (I’m not in this trade…) as it’s not far from exhausted…
You can now see the power of trading the rise and fall of currency values inside these graphs…
5 Likes
“Wow. great job @Dennis3450. 3 years of investment (I read that you had done it for about 3 years on dailyfx and also on trading journal on BP) and still here. I followed @Trendswithbenefits from another topic and read a lot of comments and can not wait to follow the next updates. Sincere congratulations!!!”
P.s Thanks @Maximus_martins. I didn’t even notice that I was writing in italian. I am sorry!!
3 Likes
Translation!
“Wow. great job @Dennis3450. 3 years of investment (I read that you had done it for about 3 years on dailyfx and also on trading journal on BP) and still here. I followed @Trendswithbenefits from another topic and read a lot of comments and can not wait to follow the next updates. Sincere congratulations!!!”
1 Like
Pullback day for most of the market but not the Pound , Top SW Trade GBPJPY up over 250 pips from its entry point
4 Likes
I use Nial’s price action approach to reading charts and looking for setups
4 Likes
The GBP has gone from 2.21% to 2.78% (+0.57%) our strongest, find the one with the biggest decrease… it’s the USD today… 1.22% to 0.72% (-0.50%)… (+1.07 for the pair), so now check the GBPUSD Chart and this should indicate that a BUY opportunity exists… (GBPUSD 1H Below)
Trading 1 against 6 (GBP has strengthened from 1.63% on 22nd… USD has tumbled from (0.90%) on 22nd)… And is clearly visible and shown in the 1 Hour Chart.
GBPUSD already in an up trend and should push to higher highs over the next 12 hours…
Our ball is on the edge of the fairway… I expect the USD to keep tumbling… But the GBP is no.1… and has been strong for a while now and any weakening will see a huge reversal… it’s very still early in the Asian session… so keep a tight stop if trading this pair.
Lets see how it goes… This will be the last example, it’s easy enough to follow… Cheers
4 Likes
What website do you use to get the data to key onto the excel worksheet?
Is there a specific time of getting this data?
1 Like
maybe, easy to follow, but that chart is the worst screenshot ever, it is terrible, that’s just the truth, nothing else