Looking at some year to date numbers, We see Canadian dollar strongest and Euro weakest but the spread is not that great, and looking at the middle of the pack USD, CHF, NZD, and AUD are all less than a third of one percent apart.
Now my SW Analysis does best in trending markets which is not what we have right now, but it has held up pretty well with more good trades than bad. You want a System or Method of trading that will kill it with awesome profits when the market is tailored to the system but then not give all your profits back during not so favorable times. SWA has been proving its self during these lean times, just think of the fun we will have when this market starts trending again, I can’t wait !
New Zealand claims the top spot and GBPCAD* hits another new low after testing the 200 ma on the 1hr chart
GBPNZD* is our new Top Trade, as you can see this pair has been on a good downtrend and had a big down day, if you get in here just know your risk, or wait for a pullback, I like the 200 ma on the 1hr chart for pullbacks
I was working on a 28-pair scanner, and I decided to see what the #'s would look like if I measured the distance percent to the SMA200. You will recognize that this is the same calculation for the JPY pairs that Dennis gives daily; the only difference is that in the 28-pair scanner, I calculate for all 28 pairs, and I don’t separate into specific currencies.
The results are pretty much what you would expect, I think.
Method #1: Separating into individual currencies from JPY symbols, then recombining into best pairs:
Top Trade GBPNZD* after just two days is nearing the +200 pip mark, if it gets there this would be 5 of last 6 to pass the 200 pip mark. AUDCHF* is the only blemish on this current run,
Thanks for your daily updates. Its the first thing I look at everyday.
Just wondering about GBPAUD. Its not a top trade but its currently at more than 2% difference. Would that be a good pair to look at now?
So for 18-Jul, that would be 1.42 - (-1.33) = 2.75%
Thus, GBPNZD has a difference of 2.75% in the “short” direction. This is greater than 2%; therefore, it is a candidate for a trade. It doesn’t necessarily mean the trend will keep going, but it’s a candidate.
I think of it more that you can exclude anything < 2% because there isn’t a lot of strength on the move.
Top Trade GBPNZD* held the top spot for the week hitting a low on Wednesday followed by two days of consolidation, nothing to suggest it could not go lower. The rest of the market seems to be waiting on the US Fed interest rate decision
