Trading the Trend with Strong Weak Analysis

[Dennis3450]

Final YTD rankings, CAD was our top currency with Euro bringing up the rear. A spread of 7.04% YTD is not much, Currency markets have not trended well for us this year. But while the Currencies have been a tough market in 2019, Stocks and Commodities have been on fire, Looking ahead to 2020 it could be much the same as US Federal Reserve is focused on pumping money into stocks and that will likely cause Gold and Silver to continue to rise as well

Everyone have a safe New Year and I will catch you in 2020

[Dennis3450]

Any hope for things getting back to normal in 2020 is getting off to a bad start as we saw a big up day for the Yen and USD did pretty good too. The issue here is US stocks hit and held new all time highs, a strong Yen, USD and Stocks the same day is not normal. Anyway, as the USD was strong that was not good for our last SW Trade of 2019 NZDUSD, as it fell into negative territory after only being up 28 pips, and it also gave us an evening star top, so a deeper pullback is indicated.

Happy New Year everyone!

[jaystarks1977]

With the Iran news…possibly explains the Yen strengthening today.

[Dennis3450]

The Empire’s Imperial fleets attack on Iran clearly affected the markets, If you lost money in the last few days you may want to rethink the makeup of your investment portfolio. As things stand right now our last SW Trade of 2019 NZDUSD is sitting at about a 60 pip loss, still above the 200 ma on the one hour chart.

As the Yen remains the go-to currency in times of trouble betting against the Yen has added risk, something to keep in mind as we move forward.

[Dennis3450]

the rumors of WW3 seem to have settled as all the Yen pairs were up today, GBP was strongest and might be one to look for an early entry, current Top Trade NZDUSD still has hope

[Dennis3450]

Another strong day for the Yen and USD, our last trade of 2019 is still hanging on to the top trade spot but now down 60 pips from its entry point.

[WonLi]

Hi,

Your rules is to take trade on break of MA or not ?? I am missing.

[Dennis3450]

You would have needed nerves of steel to keep holding NZDJPY through today’s pullback but if you are still in the trade today’s candle would suggest this is ready to start moving higher

The markets seem to have written off the pissing match between the US and Iran

[Dennis3450]

Your rules is to take trade on break of MA or not ?? I am missing.

Basic rule is buy/sell the 1 and 8th ranked currencies on day one of them becoming a Top Trade, after that it is up to you how much of a stop lose to use and where to take profits, I like wide stops so I might go as much as 200 pips on a stop but each trade is different, I like taking profits on half my trade at 100 pips then let the rest run with a break even stop. Other people will wait for a pullback and enter near the 200 ma on the 1 hr chart, but how you trade is up to you,

[rogeriocfurquim]

Dennis3450, thank you very much for your posts. It’s wonderful to see such commitment in transmitting your ideas and helping other traders.

[Dennis3450]

9 days into the year and we get our first new Top Trade of 2020, CHFJPY

[Dennis3450]

Big Football weekend so I am posting the week in review a bit early, for the most part, it was a week of consolidation, we also got a bearish engulfing on stocks so we could see a little bit of Yen strength early in the new week. Everyone have a great weekend and GO PACK!

[frandlost]

Are you a Head?

[Dennis3450]

Are you a Head?

I am old and pre-date the whole Cheese Head thing, But we did WIN ,

[Dennis3450]

Our first new Top Trade of 2020 CHFJPY had a nice breakout move, 16 more pips and we will put this in the win column, if you got in at the entry price there would be nothing wrong with moving your stop to breakeven

[frandlost]

I’m from New England everybody is happy we didn’t!

[Dennis3450]

Another up day for Top Trade CHFJPY, we can now put this one in the win column, our basic rule would be to take half profit here and let the rest run, how long you let it run is up to you

[jaystarks1977]

Rinse and Repeat

[WonLi]

Please what is your entry trigger ?? I had read somewhere that it is the break or 34 MA or 200 MA on daily timeframe. I don’t understand how you get in CHFJPY !

[Ngula_Kalili]

CHF is strongest and JPY is the weakest, and there is more than 2% difference in the two SW values.