Top Trade GBPAUD* crosses the +400 pip mark. Strong Weak keeps our focus on the best and ignores the rest
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A little pullback today but nothing to indicate a trend change
Good week for our Top Trade GBPAUD*, we finished the week with a pullback but that Friday candle looks bearish, I would expect new lows this week
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US markets closed today so not much happening
hey all,
Has anyone worked out a way to calculate the S/W rankings automatically? I know it’s not the most laborious task working out the rankings, but seems the next logical step is to automate them?
Cheers.
What a brilliant idea, I’m sure no one has ever thought of Currency Strength Meters before now, you should win a Noble prize, your a genius
It can surely be coded depending on what platform/software you use.
Nothing says you can only trade 1 with 8, For my own trading, most of my trades are concentrated in three pairs, AUDUSD, EURAUD, and EURUSD. Right now AUDUSD is the strongest of those three so that is what I am playing, Nice move up today, stop moved to breakeven, and just enjoying the ride.
For those playing 1 with 8 GBPAUD*, looks like another good day for our Top Trade
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MT4 - Using the same calculation Dennis does?
Cheers.
Strong day for the commodity sector
No change in our rankings, just a day of consolidation
Newbie question…Is the strategy to be long on AUD Or NZD against GBP or JPY depending on the catalyst?
Welcome…
The strategy is to trade the stronger against the weaker.
KC
Dennis,
Any thoughts on “missing the boat” on strong weak trading?
I have a mental block that if I didn’t get in at the start it’s too late. To re-enter do you wait for a certain ma pull back?
Any thoughts on entering after the trend is underway would be great!
Thanks or all that you continue to give!!
KC
I like pullbacks to the 200 ma on the 1hr chart
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AUDJPY sneaks into the top spot, AUD has had a great run but if the stock market keeps going up so will AUD
Looking at AUDJPY on a longer-term chart we can see this is a counter-trend move, but that is a pretty steep up move and could continue
AUD remains strong and buying against the Yen, US dollar or Pound remains the play
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Just two full days as our Top Trade and AUDJPY closes in on +200 pips, If you have multiple lots now would be a good time to lock in profits on part of your position
Also note we crossed the 200 day moving average, a full candle close above this moving average would be a very bullish signal for new traders to come into this trade, this could be a good one
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Thanks Dennis. I’ve netted 100pips off the AUDJPY thus far.
How do you go about managing multiple positions? I understand you usually move stops to BE after approx 100 pips? Do you reduce this position and look to add new positions as the trend develops or ride the 1st for the full lots and still add further?
Ben
many times your think is best, but i do not understand right possition
thank you