Thanks, I live in the UK, at what time for me each day would be best to compute the numbers in excel?
That is brilliant! Thank you very much for the answer, I will also use the 5pm NY close.
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As far as I am concerned, these figures are dynamic: if you get extreme figures while eating lunch, and all your other entry criteria are met, why not enter a trade (and get in earlier for more pips)? There is no magic to 5pm, imho.
You may also find that because you use a different broker than Dennis, that your figures won’t be exact.
I have an EA, so all the hard work is done. But if you can’t program, excel makes it easy to collect any info from any website and paste it onto a sheet.
On a separate sheet, you can then link the strong weak formulas to the new data. Excel can be told what to collect (prices, 200 moving averages, etc) at a specific time, when you open the worksheet, or at certain intervals.
Now that I’ve typed this, I realize I should have told you guys about the excel thing (called web query) ages ago. It just makes things easier, leaving you to analyze the data.
Hope this helps.
Just so that I am clear, because my daily candle will close at a different time to yours in America?
Which time frame do I compute the numbers from? I am confused as to how to do this from the UK in my time zone.
5pm NY time is 10pm UK time, so at 10pm at night, I go onto the daily charts? or H4?
Are you using a FOREX broker for your quotes and charts, It was always my understanding that all FOREX brokers use the 5 pm New York time as the end of the trading day and beginning of the new trading day. If you are using a Stock Market chart then you will get very different closing times, My stock charts will close a daily FOREX candle at 12 midnight, and it treats Sunday as a whole day of trading so the daily charts will have 6 candles each week
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I am so glad I asked!
I am using XTB London as my broker.
People in the UK I think have a different candle so it would be good to know how UK traders can compute the numbers.
Thank you Dennis
US markets look ready to push to new all-time highs all while JPY holds on to #1, CAD looks like it might be one to go long on
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I’m going to give this a shot. It looks like it closed on the other side of H1’s 200SMA. I just hope it doesn’t bounce on the H4 200SMA.
Because I am in the UK, my H4 time frame shows from 7pm - 11pm UK time, which includes 10pm UK time (5pm NY time), so I am taking my price from the close of that candle at 11pm UK time, so my results differ to yours a little, I am basically taking price and the MA 1 hour after you are at 6pm NY time (11pm UK time).
Still works the same lol
GBPCHF* is back on top, I have been doing this Strong Weak Analysis for like 5+ years now and I am still amazed how this simple indicator keeps nailing these trades. Summer is supposed to be a slow time of year for trading but we have some good moves going and a pretty good win streak
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At this point…I’d classify this summer as legally stealing!
My figures show good (fairly) large moves over the past 3 day’s for CHF and GBP to a lesser extent, resulting in GBP crossing AUD and USD placing it 3rd last now. This means both GBPAUD and GBPUSD crossed 200MA 4H between 20-21\06.
Similarly CHF is now top’s crossed CAD 18-19\06 & back again 19-20\06 and also JPY on 19-20\06. Plenty of 200MA crosses for those that trade 200MA crosses and quick gains to be had. I still battle to establish if price ie going straight through or bounce off which is frustrating. Anyone have a system?
I certainly hope GBPCHF keeps going this last 90 periods have mainly been up and down.
I now have CHFAUD 1st by a smidgen in front of USD and GBP.
Please note my time is about(not sure because of daylight saving) GMT.
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Sorry that should read GMT+2.
GBP finally exits the #8 spot but not before Top Trade GBPCHF* hit a new low
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Based on Friday’s closing numbers AUDCHF* became just our 5th Top SW trade since May 1st.
This one has already had a monster two-month drop and was a Top trade on the long side just days before this big downtrend started. If you choose to jump into this one make sure you understand the risk and history of this pair
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Yes it looks like it could be a bit long in the tooth, due possibly for a large correction some time.
Some jumping around but CHF continues to lead, Friday’s top trade AUDCHF* consolidated and prior Top Trade GBPCHF* hit another new low
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Gold is on the move, that usually means some something bad is happening in the world. NZD will normally be the play during a bull gold run, so watch for NZD to make a move here to catch up to an already moving gold market
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USD and GBP swap places but everything else stays the same
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