NZD followed by AUD lead the way today, GBP weaken a little but still holds the #1 spot
GBPCAD is still #1 strong weak trade, giving back a little today from it’s Friday’s high of 445 pips.
Hi Dennis,
Stumbled across this thread the other day. Been reading through it, loving your analysis.
Keep up the great work. I’ll be following closely and hope to contribute also.
Cheers!
Hi Benjwoo
Thanks for the positive feed back and welcome to my thread
After a one day pullback, GBP is back to extending it’s lead over the back, Top Strong Weak trade GBPCAD topped +500 pips from it’s April 21st entry point
USD and CAD lead higher today, while AUD was weakest, Top SW trade GBPCAD pulled back a little
Back on April 13th post #566 I noted that USDJPY was trying to hold the 200 day moving average , in a catching a falling knife trade it did reverse at the 200 dam and is now +400 pips above that ma
So, today I scalped the market for some positive pips with help from your strong weak currency analysis using the Yen.
I’ve set up separate watch lists to monitor all JPY pairs, watching real time to see which is the strongest/weakest then dropping on to the appropriate chart looking for scalps in direction of the trend using my system for entry/targets.
Thanks Dennis, feels like i’ve completed another piece of my personal forex puzzle.
EDIT: So at the time of scalping, I was looking for trades on the EUR/AUD.
The whole European block was strong today lead by Euro, and another ugly day down for commodities lead by CAD. Top SW trade GBPCAD is now up 523 pips from it’s entry point
Good play Ben, EURAUD has been on a nice uptrend following the pinbar reversal on Feb 22, and has really accelerated this week
Previous top Strong Weak trade GBPAUD is still a valid trade and topped +500 pips today from it’s April 18th entry point.
Commodity block is in rally mode today, this is seen in the energy sector as well, broader markets is flat. This could be a turning point for CAD and AUD, if short these two, be careful here
Stocks rally with many new highs, oil reverses, Gold and Silver weak, Pound continues to rule the currencies , Bitcoin explodes higher, all this and more covered in my weekly market review, just click link below
1 Like
USD lead market higher as Yen completed it’s decent to #8, Euro was really weak early as you had a sell the news type move but recovered a big chunk of it’s loses by days end. CHF was weakest on the day
We have a new top Strong Weak trade, Long GBPJPY, this is known as the Dragon and can give you a pretty wild ride. For tracking purposes todays close of 146.54 will be our entry point.
Previous SW trade GBPAUD is still in play and hit a new high of +560 pips, we will keep an eye on that one as well
That is some up trend GBPJPY is on
USD is leading the day with GBP close behind as Yen continues to weaken, Top Strong Weak Trade GBPJPY is up 115 pips at time of this post
USD was strongest on the day but GBP extends it’s lead over #2 Euro. New top Strong Weak trade GBPJPY was up as much as 133 pips before pulling back into the close.
CAD lead market higher as energy sector tries to put in a bottom, Top SW trade GBPJPY at it’s high was up 157 pips
I don’t normally trade GBPJPY but I am taking advantage of Yen weakness by being long USDJPY, pinpar reversal at the 200 dma on April 17th made a great technical entry, with strong resistance at 115.00 I will be looking to take some profits there and reload if we get a weak pullback
Yen rallied as US stocks moved lower but then gave back much of it’s gains as stocks rallied into the close, Top SW trade GBPJPY gave back all of last two days gains and was negative for a while before rally into the close, ( I told you this one can be a wild ride)
For the week stocks were mixed with new high in the Nasdaq, Oil grinds higher, Gold and Silver find support, Bitcoin tops 1800 , In currencies Euro might be the play this coming week, All this and more in my weekly market review
1 Like