Could you please link the mq4 file?
The Pound has reclaimed the top spot after a 6-week pullback, weakness continues in NZD and now AUD has joined it, Seeing how US stock indexes are all at or near their year high you would expect AUD to be strong, You just cannot rely on those old correlations. NZD’s weakness could be tied to the current weakness in Gold, that is one correlation that still seems to apply
As far as our newest top SW Trade GBPNZD, you could ride the current momentum or wait for the pullback, in any case, there is nothing to indicate current uptrend has ended
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RTFM
FAQ
Q: Is there an MT4 version?
A: No. I do not write MT4 code.
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In this case, the “strong” is any currency that is increasing (positive slope) e.g. CAD, NZD, AUD and “weak” is any currency that is decreasing (negative slope) (e.g. GBP, USD, EUR).
Be that wrong way around?
I was thinking in terms of a traditional Cartesian coordinate system, from left to right. where I imagine the starting point of each drawn line to be at 0,0, i.e. the left most point. I do this because time goes from left to right on the chart, and I’m concerned with tendencies of Dennis’ numbers over time.
So in the chart pictured in my original post, AUD is increasing, the line would be in quadrant I, which has a positive slope, and is heading upward in the direction of the #1 (strongest) position. I consider that to be AUD strengthening.
I always wondered why Cartesian coordinates weren’t called Descartesian coordinates . . . .
Yen gaps open higher to start the new week, this is all about US and China trade talks
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I rather liked the new top spot for 6-May of (NZDJPY). Things may, of course, change, but I have been getting a steady stream of pips this morning for a trade I placed just after Dennis posted these numbers.
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Yen remains strong as US stocks continue pullback, this has been the pattern this year, Stocks rally Yen falls, stocks fall Yen rallies.
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We have not seen one currency this strong over the market in a long time, but how long will it last
Exactly.
I’ve had the top pair (NZDJPY) short since 6-May, and it has brought in only about 70 pips thus far. There is a support level around 2019.01.03 that I hope it reaches, but I am not holding my breath.
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i dig it. watch cd gb eu us to drop against the jpy, not the au. set price alarms 81.46 142.93 122.92 109.82 respectively. i would not be suprised if the au is set to rally soon. hard market, be patient.
If you jumped on Top Trade NZDJPY on May 1st you could have made 100 pips, in this market you take what you can get
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I took it and bailed after the pin on Wednesday. Also had a few pips out of NZDUSD but not as profitable
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Well done, Snowman.
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Sorry for not having read the FAQ.
This market is all about the USA/China trade war, as negative news comes out expect US stocks to pull back and Yen to remain strong, but as soon as rumor of a trade deal hits the news wire you will likely see a very strong reversal, If you are long Yen, protect your profits, don’t get greedy and don’t let a profitable trade turn into a losing trade
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