The market keeps getting tighter but we do have a new Top SW Trade, AUDCHF* not a lot of separation and nowhere near our 2% rule but the long term chart shows this could be rolling over on way to another new low,
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Hi scout. That’s an interesting indicator. Would you mind to share it? I tried to search for it in TradingView but didn’t find this specific one (that compares majors with JPY).
Some very good recent posts that emphasise (especially for those new to the thread) that SW analysis is not itself a trading technique but requires reliable strats to be wrapped around it. Always enjoy this thread
Here you go. You can change the Length input to “34” in the settings.
//@version=3
study(title=“Percent difference between price and MA”)
Length = input(14, minval=1)
xSMA = sma(close, Length)
nRes = abs(close - xSMA) * 100 / close
timeframe = period
finalRes = if xSMA > close
-1*nRes
else
nRes
//USDJPY, EURJPY, GBPJPY, CHFJPY, AUDJPY, NZDJPY, CADJPY
//Plot for USDJPY
usdjpy = security(“USDJPY”, timeframe, finalRes)
plot(usdjpy, color=blue, title=“USDJPY”)
//Plot for EURJPY
eurjpy = security(“EURJPY”, timeframe, finalRes)
plot(eurjpy, color=orange, title=“EURJPY”)
//Plot for GBPJPY
gbpjpy = security(“GBPJPY”, timeframe, finalRes)
plot(gbpjpy, color=green, title=“GBPJPY”)
//Plot for CHFJPY
chfjpy = security(“CHFJPY”, timeframe, finalRes)
plot(chfjpy, color=black, title=“CHFJPY”)
//Plot for AUDJPY
audjpy = security(“AUDJPY”, timeframe, finalRes)
plot(audjpy, color=red, title=“AUDJPY”)
//Plot for NZDJPY
nzdjpy = security(“NZDJPY”, timeframe, finalRes)
plot(nzdjpy, color=maroon, title=“NZDJPY”)
//Plot for CADJPY
cadjpy = security(“CADJPY”, timeframe, finalRes)
plot(cadjpy, color=purple, title=“CADJPY”)
//Plot for JPYJPY
plot(0, color=yellow, title=“JPYJPY”)
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I salute you guys clever enough to code these indicators. However, looking at all those squiggly lines, I fear that you guys are beginning to complicate what is a very simple, brilliant and time tested idea of SWA. Remember guys, if it is not broken, dont fix it. No offense intended.
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No offence taken, squiggly lines…you’re right, it’s a bit much for a beginners forum and possibly a little too off topic for this concise and proven thread. Removed…
Another week in the books, we ended with a down day in the stock market and a stronger Yen as a result. Our Top Trade CHFJPY has completely retraced to its entry point so we will call that one done with +188 pips at its high, Top Trades AUDCHF is up a little bit and newest Top Trade EURCHF is in a strong downtrend, nothing says it can’t go lower.
Note; nothings says you need to take every SW trade and I would advise being in no more than two trades at a time and even better don’t take that second trade until the first one has a breakeven stop in place
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Top Trade AUDCHF* is up +87 pips from its entry point, 13 more pips and we will call this one a winner as well. If you got in at the entry point nothing wrong in moving your stop up to breakeven
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Yen has nosed out CHF for the top spot, Top Trade AUDCHF broke the 100 pip mark so we will make that one as a winner, that is a pretty good reversal in AUDCHF, if not closing out I would at the very least have a breakeven stop, this is likely to move higher tomorrow
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Top Trade AUDJPY* posted a small gain today,
Note; Australia’s economy is strongly linked to China so the coronavirus is going to have a negative effect on AUD making short AUDJPY a nice-looking trade
I should have come to here before putting on my AUD/NZD on Jan. 14.!
A little busy but will have some charts later tonight, Top Trade AUDJPY* hit the 100 pip mark , yes another winner
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After a two-day pullback Top Trade AUDCHF* hit a new low and maybe heading lower
Strong Weak has given us 4 trades in January three have topped the 100 pip mark, only one not playing ball is EURCHF but give it time
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Rinse and repeat
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Don’t say it too loud Dennis…too much winning may upset one side of the aisle!
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The only question is what is having more influence on this market, Coronavirus or rise of Bernie Sanders , both are bad for markets
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Here are the 4 Top Trades that Strong Weak gave us in January, Even if EURCHF fails to reach +100 pips, 3 out of 4 is a win ratio I can live with
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thanks for all you do Dennis. You have super simplified Forex trading for so many
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