id be careful with this pair…if backdoor flows are going into the euro then there will be weakness in the chf and i believe alot of good news is priced into the nzd based on sentiment so the aud will rise!!!
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Not much is happening today, US dollar fell the most
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Actually, today may have been a important day. the usd was a unopposed negative driver so the the USD may have bottomed today either that or it may be a continued move down…we will see.
Top Trade AUDCHF* has given us about 70 pips
Did anyone notice on Wednesday I listed a chart with CHFAUD, that is not correct, it should be AUDCHF but Trading View allows you to invert the charts, I don’t like that!
Anyway, the correct trade is short AUDCHF
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Hi dennis when do you know when to enter into the trade?
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I noticed but didnt say anything!!!
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the general rule is as soon as a new Top Trade is posted, but most people will have their own entry rules. Buying on pullbacks is always popular, but best advise is to never chase a trade, if you miss it, there will be others
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@DENNIS…since you have already said that you are a long-time trader. Do you by any chance exit on Friday and rejoin the trend on Monday to avoid any disastrous political or economic fallout that may occur on the weekend or do you just hold your position all the way till the end of the trend?
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In most cases I have a price target ( lets say 100 pips) where I will exit half my position then let the rest run until I see the trend ending. No jumping out and back in on the weekends. I manage my risk by keeping position size small so not even a political disastor is going to blowup my account
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We can really start to see the trends shifting as Yen and USD move down the rankings
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Top 5 are all within 0.28% of each other, which is a tight market, New Zealand had the best week with the Pound close behind,
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a virtual dead-heat among the top 4
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With so many so close to the top we could have a different #1 every day this week.
Take caution taking any trades right now as we have no clear strong or weak currencies
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New Zealand leads the way for the second straight day. Is NZD really strong or just the best in a weak market?
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You decide
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Just when I was ready to write off the Yen and US dollar, they both lead the day, and on a day Stocks were up, that is the upside down market we are trading.
If you took a chance on the current Top Trade AUDNZD you are up a few pips
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