Trading the Trend with Strong Weak Analysis
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Top Trade AUDCAD* is up over 100 pips, lets see if this is the beginning of a long winning streak
So just how bad are our Top Trades really doing, here are the last 4 trade signals from my Strong Weak rankings and where they stand as of about 9:45 am this morning
AUDCAD Up 127 pips
USDCAD down 109
NZDCAD down 29
AUDUSD up 69
Had you taken all 4 trades you would be up 58 pips
Not bad in a tough none trending market
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Don’t get too excited, the second half of the day was very different from the first half, so which direction will the market take tomorrow, Still a coin toss
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Note; I will be traveling this weekend, I think I will have internet Saturday and if so I will post my final numbers for the week, If I don’t have internet than you might not hear from me in till late Sunday night,
Everyone have a great weekend
I have internet
Looking at our current top trade AUDJPY* this was a top trade back in late September and was a failed trade from day one but if you held it through that 250 pip drawdown you would have finished the week down just 50 pips and near breakeven on one point on Thursday.
What will the new week bring us, the pattern has been to retrace the previous week, out side of that this market has no real direction as if waits Nov 3rd
Lots of green to start the week, with weakness in USD and Yen, futures for gold, silver and US stocks all point to a higher open
I am not a day trader but one method I have played around with is playing the strongest pair from the overnight session with the expectations for the trend to continue into the NY session, so just for fun lets go long GBPUSD at the 5 am est opening price of 1.2996 and see how it plays out, it is up a few pips as I post
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The only play here is shorting the AUD
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How did that go? I tried a similar strategy that looked promising for about a week, but it then spent a month flopping all over the place in a ranging market.
ranging markets are death to us Trend Traders, you have to have patients, the trends will return, in the mean time nothing wrong with paper trading some new ideas
Speaking of a weak AUD, here is EURAUD breaking out of a 4 month base, this pair has been in a 3 year uptrend, you just have to ignore that Tulip spike, I would say this moves higher until there is unrest in the EURO
In these turbulent times, this strategy is getting worked over by the market… as soon as a currency hits either end of the Matrix (1 or 8)… currency polarities are instantly reversed… That’s why I started mapping your data and trading pairs from the inside of the Matrix…
A weakening AUD over the past few days and at the NY Open, BANG… AUD strongest bar none…
Must be pure coincidence?
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Good day for the Euro with CHF and CAD close behind, and the land down under remains out of favor
the first half of the day has GBP leading the way with USD weak, anyone long GBPUSD
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Yes Sir, my order was picked up at 1.2985, it’s now up 91 pips.
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big move for the Pound,
you should be up 150 now , congrats!
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Actually, it hit my TP at 1.3123 (131 pips). I’m happy with that.