CAD is looking good again and top trade CADCHF after a 80 pip pullback from its entry point is now back in the black
3 Likes
@Dennis3450
Chf has not been that weak for the past 7day, so watch out, it might just continue it’s pull back.
1 Like
isn’t that the normal AUDUSD chart we all watch?
what did I miss?
Snowman that was my point to Dennis’s comment,
1 Like
More of the same as the Yen nears its first 1 to 8 trip of the year
2 Likes
why wait weeks for a signal, which may or may not be strong enough, is too subjective, and starts with a 200 pips stop loss just in case, when you can easily day trade!
1 Like
3 Likes
You know:
I have not seen a decent LONG TERM trend in so many months. When last did we have 1000 pip trade? looking at my records, it was pre-April 2018. The past year has been really choppy (range bound), without the sporadic mega 1000+ trend.
My EA is also set up to pyramid at certain intervals. I have not had a pyramid trade since October 2018.
Im sure I’m not the only one?
3 Likes
Snowman please throw more light on the 1Day Relative performance indicator
1 Like
it’s part of the information collective on this site.
https://finviz.com/forex_performance.ashx
2 Likes
As the US stock market rallies so do the commodity currencies Top SW Trade NZDCHF looks ready to breakout above 0.6900
3 Likes
It has been a directionless market for nearly a year now, Until the Globalist running the US start another war or create the next Banking crisis we will likely see more of the same. Nothing wrong with having a second trading plan to use during these low volatility times. For my own trading I will continue to focus on my SW trades even if the trades come in fewer numbers and return less pips. If I see a good technical setup outside our SW I will post it here
Keep the faith , good things come to those with patients
1 Like
Swing low in EURUSD.
I have been tracking what appears to be a running triangle in this pair, from the August low (the November low was an undercut within the pattern). Looks like wave D is now complete; wave E has just begun, likely to be a zig zag or triangle, likely to last well into March.
When it completes, I’m looking for EURUSD to finish off its counter-trend decline begun in Feb, 2018, as an impulse (trending) move.
Meanwhile, more grinding forex moves to come…
For now, I’ve got my money on a monthly swing low in SPX, probably on the Febuary candle, perhaps even this week.
1 Like
I’ve been in usdchf sell for a few days so I’m not a big fan of nzdchf going for a run up. For financial reasons only. I want everything xxxchf to go down. Time for chf to regain her crown. With what looks to be a hybrid of a head and shoulders and a triple top on the 1 hour and 4 hour charts and a broken neckline I’m quietly confident. Resistance turned support at 1.0028 is causing me grief though
1 Like
look at CHFJPY. It’s usually a boring pair, but it really busts a move when either currency is trending. Patterns and TA are highly regular, orthodox.
Also, look at the “CHF” index on the link below.
Figure out what’s happening with the Swiss Franc, and adjust your trades accordingly 
2 Likes
GBPUSD on the 200ma in1H,4H and D charts this morning. Considering that Dennis’s system also locates a pair on the 4H 200MA does anyone use this to trade the 200MA. I am just starting and looking for a decent system. Specifically to establish if it is likely to be a bounce or go through. One gets an incling from the angle of the price movement, but was wondering if pure price action could be used?
Any info would be appreciated.
Many thanks to Dennis and all others for the contributions.
Gordon
1 Like
@gord0n… The 200MA is a very powerful Indicator (setting) that is probably at the basis of many successful strategies… So your already on the right path…
You can trade the MA a number of ways… Say the 1 Hour + Charts… Pure PA… when price has just broken above the 200 open only Buy (Long) positions and when breaking below open only Sell (Short) positions.
Or as Dennis’s system demonstrates (eyeball Dennis’s charts in this thread) price will always eventually move back toward the 200 (or 200 moves toward the price) you can trade the reversal against the trend as price moves back level with the 200…
Below is the last chart Dennis posted and you can see how even on an obscure pair such as the NZDCHF price respects the MA200
Both these are simple single indicator strategies, I’d suggest searching Youtube to see just how many different systems are being used to trade the MA200… Mind you… all with varying degrees of success.
It may give you some ideas of how to generate a hybrid strategy that you are comfortable trading.
Cheers
2 Likes
Slow day as US markets were closed, no surprise as JPY moves into the #8 now the question is how long will it stay there before moving back to #1. Our newest Top SW Trade is NZDJPY and it has been on a slow grind higher following that big pin bar reversal on Jan. 3rd. There is room to run higher if the Yen will cooperate
3 Likes
I pulled these numbers 45 min before the daily close so they could change a little, big move in the GBP, need to revisit the GBP trades from last month. If you like a wild ride then GBPJPY is one to look at
3 Likes
I guess this is the calm before the storm, very little movement for the day
