Trading the Trend with Strong Weak Analysis

#3459

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

1

1a
1a673×502 19.8 KB

3 Likes
#3460

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!

1

2 Likes
#3461

Are you a :cheese: Head?

#3462

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

#3463

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

1

1a

1 Like
#3464

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

1 Like
#3465

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

1

1a

2 Likes
#3466

Rinse and Repeat

1 Like
#3467

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 !

#3468

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

3 Likes
#3469

The basic rule is to open a trade on the day a new pair takes the first place… but as Dennis stated before it is up to you: what do you prefer.

I am following this topic since a few months and I am following the basic rule at the moment: open when a pair becomes top pair, and use the view Dennis has on the current market condition.

But you can also use the signal as a heads up: use the nr 1 pair as “best pair” to watch and create your own entry point: for example: wait for a pullback (to a certain moving average eg).

3 Likes
#3470

While the rest of the market is in consolidation mode our Top Trade CHFJPY just keeps on giving. If you are in the trade I hope you are enjoying the ride, if not in the trade I will try to identify a secondary entry point on a pullback

1

1a

2 Likes
#3471

Thank you Sir !

#3472

Another small gain for Top Trade CHFJPY as we close in on the +200 pip level

1

2 Likes
#3474

Love this thread.

FWIW, I have been out of CHF/JPY but agree its top trade for another week - have buy order set above Friday’s high, TSL below Friday’s low: 2% account capital risk.

Also have similar pyramid orders set at +1%, +2% and +3%.

2 Likes
#3475

It was a great week for Top Trade CHFJPY but Thursday we had a small pin bar reversal with confirmation on Friday, there is nothing on the weekly chart to suggest this move is over, after a big run we might just need to pull back a bit before the next leg up. I will be looking for support at the 200 ma on the 1hr chart for a re-entry. The rest of the market is doing nothing so be greatfull for this one trade

1

1a

2 Likes
#3476

Not much happening today as most US markets were closed

1

1 Like
#3477

Dennis, would this constitute a bounce on the 1hour 200MA?

image
image1600×860 74.3 KB

#3478

it could have been, but it has failed to hold that rally and price is now below the 200ma , from here a break back above the 200 ma would be the next entry point.

1 Like
#3479

big-time consolidation, the bottom list is the 7 pairs that I do most of my trading in and as you can see there is just no separation

1

1a

1 Like