That’s just there as a reminder for me, feel free to ignore
Hi Tigranes, is this indicator simply like a SMA attatched to a chart, not a seperate chart? So I could simply add this to the templates I use together with the other indicator’s. Also is the 2% a selectable variable or is it fixed in the coding? Thanks for the contribution.
Works on main chart.
This is an input you can change if you so desire.
That’s exactly what I did. I have 1 template I use that has this and a few other SMA’s of interest.
Here is a bare-bones template that shows this indicator with the exact candle colors that I use.
ShadedEnvelopes.tpl (4.0 KB)
Pullback or consolidation, in any case, our trends have taken a breather, no better example than Top Trade NZDJPY* , looking at the 1hr chart, the price has just been moving sideways just below the 200 ma
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Strong day for stocks but not much reaction from currencies, we are still in a holding pattern
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Someone wake me up when this market starts moving
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It is risky to trade GBP pairs at this time? Yesterday GBP surged up despite it being no. 6 on SW chart, just due to “news”.
For trend trading, I like to see prices on the same side of both H4’s 200SMA and H1’s 200SMA.
So, take GBPJPY for example:
Prices are below the 2% requirement to short according to the 200SMA on the H4, but when I look at prices on the H1, prices have been hovering (bouncing above and below) around the 200SMA. That tells me to wait for trend trading.
You might find some nice quick range trades while prices are bouncing up and down, though.
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Good day for the commodity currencies as they followed a mostly up day for stocks, the consolidation continues
Look how top trade NZDJPY* just hugged that 200ma on the 1hr chart, and today we got the breakdown
Denis good work done here!!
please can inform us on the relationship between stocks currency and commodities?
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I love Friday break-downs and break-outs - they usually follow through into the next week.
Continuing good work Dennis.
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As usual, I managed to find exactly the wrong time to get out of NZDJPY*. After it retracing and having done nothing for a while, I got out at a small profit because the swap in the ranging market was cancelling out the small profits. Literally a couple of hours later it takes a huge jump after China announced tariffs.
I should announce when I’m about to close a trade and everybody could then make a fortune when it finally does what I originally expected it to do…
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yes please this^^^
After a week of consolidation current and long term Top Trade NZDJPY* hits a new low and new high in our pip total
I believe it was Warren Buffet who said " Markets were invented as a means to transfer money from the impatient to those with patients"
Well that spike down in NZDUSD this morning hit my take prifit and closed me out , but I got my 200+ pips, which was wort the wait for the pair to complete the consolidation. I got in late and just before the start of the consolidation but it was a long wait to get through it.
Shows it pay’s to be patient in this game. Now to deceide wether to get in again? any suggestion anyone?
Enjoy the day guy’s.
Why would you consider getting back in? That pair is nowhere close to being a top strong/weak contender.
My apologies, too much analysis on my brain, that should have been NZDJPY, now on my system although it’s No1 it does not look such a good entry & after 3 weeks of going nowhere I am reluctant to sit tight again, maybe better to see if it is entering consolidation again?
Right now, nothing in Forex is calling to me. In addition to the 2% rule for Dennis’ numbers, I like to see at least 1.25% from the SMA200 on H1, and nothing in the 28 pairs has this.
Some of the exotics look interesting. EURTRY and USDTRY, for example. Caveat emptor, though. While I made a tidy bunch of pips with the recent spike, the volatility can also go the other way. Huge spreads that can wipe out a SL in a flash. With that said, both appear to be trending up.
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