No offense here.
Glad to listen that you have x7 your trading accounts, bro.
But if you read through the whole thread, Dennis insisted that the entry and exit strategies should be each trader’s discretionary choice.
He did emphasize the importance of 1H 200 MA as a good entry point.
Also, he also provided a simple system to enter the SW trade. Long/Short after Daily Close, with a 200 pips SL and 100 pips as first target. Then, move SL to Breakeven and close half position once the first target is achieved and let the remaining trade run.
Sorry for forgetting his name, I remember another member’s username start with S, suggested to use 3ATR as a SL and first TP at 1ATR. He said based on his backtest of 5 years data, this would result in around 70% accuracy rate and about 3 times R:R. You can read through the posts above if you are interested in his method.
Cheers for NFP day!
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Another awesome week as Yen roars to the top spot as US stocks sell-off, Charts to follow
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Looks like we finally have some volatility to play with?!
If we use the +/- 2.0% as a standard, I think I count 12 pairs!
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Trade of the Year GBPJPY* , and GBPCHF* is nothing to sneeze at either.
Long term trends and trading with that trend is what this thread is all about,
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For tracking purposes, it is just one trade that started back on May 17th, but looking at the 1hr chart all those pullbacks to the 200 ma would have given you great new trade entries.
My Strong Weak Rankings give us great trade ideas, it is up to each trader how they take advantage of them
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Another good day for Top Trade GBPJPY* and do to a sharp selloff in US stocks AUD is now #8, we will see how new Top Trade AUDJPY* works out,
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Dennis_SW.ex5 V1.05 (90.4 KB)
Now has input to dump CSV data to log file.
Of course, you have direct access to the currency variables, so you can build an MT5 EA to directly access the indicator. If you don’t know how to program, you can still use MT5 to dump the data to the log file, and with a bit of cleanup, import into Excel or whatever.
Here is the latest year’s worth of data.
Dennis_SW.csv (36.7 KB)
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dead cat bounce in the stock market meant down day for the Yen, I don’t see anything yet to tell us we are looking at a full reversal so play it as a pullback for now
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Gold and Silver breakout and New Zealand tanks, that is our upside-down world
Hi Dennis,
Thank you for what you are sharing here. I am still learning by reading your thread. In the case like yesterday where NZD dropped 400+ pips due to RBNZ dropped their rate more than expected, how do we plan our trades? I mean do we avoid trading when red news coming as I am not sure the strong weak analysis will give us enough information to know which way NZD will go? Perhaps like you said, our world has gone upside-down.
Appreciate your advise. Green pips to you.
Being short NZDJPY has been a valid Top Trade going back to May 1st, with a breakeven stop at the point this first became a Top Trade you could still be in it today and enjoying the drop
We do have short GBPNZD as a top trade, that is the only trade calling for being long NZD and if you had a beak even stop at the entry point you would have been out of that trade 2 days before the rate cut.
Sudden drops do to central banks is never fun when on the wrong side of the trade, but in this case Strong Weak would have given you either a big win or breakeven
hope this helps
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Thank you for your prompt reply. I guess my problem is I didn’t have proper stop loss, plus I only found your thread not long ago. Expensive lesson but will continue to learn and improve.
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Forex consolidates as US Stocks rally
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After taking a break for most of the week our Trade of the Year GBPJPY* took another dive lower on Friday , most of our short GBP Top Trades also hit new lows.
Looking at the long term chart GBPJPY has some support at 125.00 if that does not hold then multi year support at 120.00 comes into play. We could have a +2000 pip winner here before this is done
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Down day for stocks means up day for Yen, GBP, AUD and NZD play leapfrog at the bottom
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hello Dennis,
i have a question to the calculation. you take the difference between the 200 sma to 4hour candle at the open price of the first 4h candle next day on your broker plattform?
my test calculation for 12-Aug is for gbp -4.9%, my broker plattform has timezone gmt +2.
thx a lot 
Hi Everyone, This news that happened today(Tarif Delay China USA trade war) was it Surpise, I asked beacuse I did no see this coming in the FF Calendar, Any comments
Trump Tweets are not calendared…
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One day does not make a trend but we saw a solid reversal against the Yen today with a strong showing in stocks. It might just be a pullback but look for Yen to backup over the next few days
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I’m noticing that prices are hovering at the 200SMA on H1 for GBPJPY and even more so for NZDJPY. Now, I am not saying there will be a bounce, but I am hopeful.
