New Top SW Trade long USDCAD, this is another counter-trend trade, I am going to pass on this one
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Top SW Trade USDCAD did give us a +74 pip move today, but then reversed and is giving us a bearish pin bar reversal. The rest of the market remains in this unnatural tight consolidation, I have looked at my charts going back to beginning of 2016 and cannot find a period where market is this tight
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Did we just see the end to market low volatility, Big surge higher today in all Yen pairs as DOW blows past 23,000
I hope you took my warning on the pin bar reversal in USDCAD, We have another Top SW Trade USDCHF, this is not one I normally trade but chart is looking good, we have a clear double bottom and now price is trying to break through the 200 ma, we get above that moving average and this has room to run, and the CHF peg to the Euro seems to be over
New Zealand got killed today, moving the USDNZD back into the Top SW Trade, but this is not a new signal as USDNZD was a Top Trade back on October 10th, but as you can see by chart below we had a big pullback then today’s move but the trade on the positive side
Here is a wild one for you, GBPNZD was my Top SW Trade back on September 14, hit a high of +192 pips, has zig zag in and out of the profit zone for the past month and with today’s dive in the New Zealand dollar, GBPNZD has hit a new high of +232, that from a pair that is currently 7th and 8th on my SW rankings
this is a wild an unpredictable market, but my Top SW Trades more times than not find a way to win
We might be finally breaking out of this consolidation, US Dollar looks to be the leader in this move so that is how we will play, Head and Shoulder top in EURUSD could be a big player in this Dollar strength
Here is my weekly review of my Top Strong Weak Trades
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Strong day for the yen as the market once again tightens, Top SW Trade NZDUSD move lower before pulling back giving us a new pip total of +138
Good morning Denis
holding this Kiwi trade open if it is going sideways is going to get expensive - have you ever had to close one of these comdolls due to interest rate differentials eating into your margin ?
You are talking about the Roll, it is always nice if it is working in your direction but it is such a small amount I do not let it influence my trades. If it is affecting your margin then you may be trading too big a position
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Yen moved up a bit but that had little effect on my Top SW Trades
Here is a run down of my last 5 Top SW Trades at there highs today
USDCHF +124 Pips
USDCAD +300 Pips
GBPCHF +229 Pips
GBPAUD +262 Pips
NZDUSD +209 Pips
I would say that is a pretty good win percentage
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Dennis,
One thing I’m coming across is that my brain gets tired after looking at so many charts…Do you simply look at a pair once they move on the currency ranking? I’m currently watching the major pairs and that’s about my limits right now.
Thanks,
Dan
Hi Dan,
The 8 majors make up 28 pairs if you try to watch all of them you will be a basket case. Best traders only trade 2 or 3 pairs some only one. Now you could just let my Strong Weak Rankings give you your trades, or you could have a small list of pairs and let my SW rankings tell which are the best trades from your list. Whatever way you choose, stick with it.
Good luck
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Quote of the Day
By Bruce Lee
I fear not the man who has practiced 10,000 kicks once, but I fear the man who has practiced one kick 10,000 times.
Now imagine how good of a trader you would be if you traded just one trade setup 10,000 times
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Here are my current SW rankings, I will be back later with a rundown of all my Top SW Trades,
If you watch my weekend video then you know about this Head and Shoulder top in EURUSD, today we broke the neckline on a strong down candle, If you are not already short you can still get in as my target is 1.1300 We also might get a pullback to the underside of the neckline that would be a good secondary entry
Here is an update to my most recent Top SW Trades, we have an amazing 12 trade win streak with pip totals ranging from +117 to +788, 7 of the 12 are over 200 pips. We would need to go back to Aug 14th and the CHFJPY short trade to find one to not give us at least 100 pips, and there is a chance that CHFJPY trade could still be a winning trade as it is only -140 pips as I post this
Here is the run down of my last 12 Top SW Trades with max pips gained, Many of these are still active and hitting new pip totals
USDCHF +165
USDCAD +341
GBPCHF +229
GBPAUD +266
NZDUSD +236
AUDUSD +117
USDJPY +144
GBPJPY +232
GBPNZD +788
CADJPY +125
NZDCAD +123
GBPJPY +272
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Excellent work Dennis. Perhaps I need to trade longer term like yourself ha.
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My Top Trades have been perfect over the last 2 months, big gains this week in my active trades, 5 most recent Top SW Trades are all up over 200 pips. No smoke and mirrors here as I document each of these trade setups in real time on this thread
Here is my weekly video where I discuss my Top SW Trades
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