early indication from Tokyo open+ seem to agree, let’s see if the day finish like this
i would be leary of betting on continued jpy strength.
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had you been short the gbp, you are looking good. it has been botttom 3 for a while now. however, the gbp/jpy is looking to me, near the end for a bit. who knows for sure, i am short cad, nzd, aus against the pound, but not the jpy. in fact i was short on 4/.25, and got stopped out. missed the whole move to come soon after. lost 100 pips or so on the stop out. so what do i know.
so, my point is this. did whatever method you choose to use and believe, did it get you into basically shorting the gbp? did it get you to short the aud? were you buying the jpy? that is the question you need to answer. if not, then why? look at the charts and learn if you did not do these things. that is all i can add to this thread of learning.
Good day for being long Yen, Top Trade NZDJPY* first hit May 1st and today hit a new low, more recent Top Trade GBPJPY* crossed the +100 pip mark today
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May is out but no big effect on Pound
Hi all. Thank you for your extensive work @Dennis3450. I love this thread and check it daily. I found this currency weak strong meter very interesting and wanted to share it. You can see the currency standinga against every other currency in a very simple way. I dont want to make marketing for the broker or anything like that. Have a look. Link here
Happy pips to all.
Ps. You can play with the options and even choose the time of change like daily weekly or even more
The Yen has owned the month of May but moves have been modest,
The month has given us 3 Top Trades ( all shorts) and all are currently trading below their entry point.
Here are the max possible pips from each trade
NZDJPY* +243
GBPJPY* +163
AUDJPY* +58
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hindsight is great but the trade that is money in the bank is the pullback to the 200 ma on 1hr chart. Here we see Top Trade GBPJPY* the day after it became a Top Trade we saw a sharp pullback into the 200 ma , setting a short order just below the 200 ma would have given you a low-risk entry after the pullback ended, This would have been good for as many as +275 pips, and could still yield more.
Note; Riding the Dragon ( GBPJPY) is not a trade for newbies as things can move quickly
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US markets closed today so as expected not much movement today
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do you always update this manually or automatically?
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Only thing automated is the formulas in Excel everything else is me punching in numbers
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Yen was mostly up today with Top Trade GPYJPY* hitting a new low
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Hi Snowman.
Loving the trades. I’m also a fan of the inside bar, is that an indicator you have outlining the IB’s or are you manually drawing that?
Thanks.
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Google for point-zero trading or PZ Trading, maybe you heard of them
Won’t post a link due to commercial issues
Thank you, just happened to find that one as I was looking.
Cheers!
I have been using your formula for years now believe it or not, I have also fine tuned it with some highly profitable traders from Singapore , I would like to show you and get your opinion on it, it may open your eyes to what we have came up with but its a private system I can not send pictures, whats the best way to get a hold of your direct messages?