I am watch for a signal that this little pullback in the GBPNZD is over, posible morning star on the 1hr chart and the 4hr has the makings of a bullish pin bar. Now we just need to see that 1hr candle close above 1.9100
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Dennis thanks for sharing these two images.
Note on both charts the trade you are highlighting are three bar reversales.
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It is the three bar reversal on the 1hr chart I am looking at, and that candle has now closed solid blue so there is a chance we start moving up from here
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The lower charts certainly confirm the upswing and so do the technical-sentiment indicators for the day and here is a chart from Proact traders Currency Index - Mataf
But I see a a resistence zone around 1.919,
I agree with this sentiment and have placed trades accordingly.
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shutdown what shutdown, now 4 weeks into the longest government shutdown in history ( there really is no shutdown as 90% of the government continues business as usual) Stocks are heading for their 4 straight up week and the biggest government shutdown rally in history , DOW is up over 10% since beginning of shutdown. Census on Wall-street is to expect a rally once a deal is reached, hard to believe it could beat current rally
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what’s the SL here?
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Great trading strategy, ask random people on the internet, might try that 
GBPNZD, it’s Friday, wildest pair ever, Brexit news looms at any time, is this a private guessing contest or can any join in to guess the bottom?
I’m not in on this trade. I was seeing what they’re SL was
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SL = Stop Loss and TSL = trailing stop loss,
I never trade with a parachute, It is seldom ever hit but just in case I miss a trade going south.
To me that’s like jumping out of a plane without a reserve parachute.
As these are day or longer trades the SL is at 100 pips which I move up as a trade moves into profitability and then would activate a TSL.
Do I ever let it hit 100 pips no but is there just in case.
When I scalp my SL is 25 Pips but in reality I seldom let it get past 5 pips, so I vary it with the time frame. Sometimes on a longer day trade or longer I’ll take the time to calculate the real distance in pips on the trend line.
Okay, you see I’m a day trader so that’s why I asked lol
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Snowman you a good trader with great posts jump in! But it is mainly Dennis thread.
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this is the part I don’t understand, if you have read any of this thread, you will understand the trades are long in days and wide in pips range
stops are at least 100 to 200 at entry, only way to capture those 2,000 pips moves
you claim to be a day trader and yet don’t know your own stop loss to use?
smarter man than me says it best =
If you can’t describe what you are doing as a process, you don’t know what you’re doing.
Read more at: W. Edwards Deming - If you can't describe what you are doing as...
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ah thanks, absolutely agree, this thread has helped me vastly in developing my OWN strategy, works GREAT too
I lot of shuffleing around this past week but for the most part we are seeing consolidation
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dont try me, please move on
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Thanks for this! I’ve used some of Mataf’s tools & this one looks interesting.
I will add a link from Dukascopy, the Swiss forex broker who offers some interesting tools as well, including one on strong/weak analysis.
https://www.dukascopy.com/swiss/english/marketwatch/movers_and_shakers_fx/
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eclectic_e, thanks for the post, that chart looks good as long as we remember which pair is base/quote to place the signal properly.
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US markets were closed today so very little change
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As I post this there has been a lot of volatility in the Pound this past hour. Looking at the daily chart of our Top Trade GBPNZD, that little pin bar today as price pulled back from the 200 ma should be no surprise to anyone,
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Indeed! Also need to remember to click on the right button between “Buy” and “Sell” 
So much potential for self-sabotage lurking in the shadows at every twist on the winding road.
The dukascopy chart is the same arrangement as on finviz, but the former lets you choose which currency standard you want.
I find the interactive table below the chart particularly interesting on the dukascopy version.
I do not use the S/W analysis to generate trade signals. I use it to choose a few pairs of interest to watch for potential swing trades (or longer) that may be forming, as well as viable counter-trend moves that look like high probability setups along the way.
Perhaps most importantly, I use S/W analysis to help keep away from the grinding, gnarly whipsaw of choppy markets.
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