Nice report, from when to when are the % based on?
another slow day in FOREX land, I would expect this to continue until mid September
Rankings are the current distance price is above or below the 200 day moving average on a 4hr chart. I only use Yen pairs for my rankings so you will always see Yen at 0.00%. With this ranking I can instantly know where all 28 pairs that make up the 8 majors stand compared to each other, example AUD is currently #7 and USD is #8 that tells me that AUDUSD price is about the 200 ma on the 4hr chart
The idea here is to always match a strong currency to a weak one
Hey, New to trading and was wondering HOW you determine the rankings of each pair throughout the week? This might be a nifty tool to use with my trading. thanks.
A little strength in NZD and GBP but nothing major
Here is a short video I made a few months ago that explains how I do my strong weak rankings
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thanks!!!
Hey Dennis, is there anyway you could send me that excel sheet? PM if possible thanks!!
This is one sleepy market, these % numbers are since midnight eastern time, Strongest is Euro and weakest is Pound, put the two together and you have a 50 pip move on the day. That is a slow market
Here is screen shot, just copy on to your excel, formula is shown for cell E5, you can just copy and past for E6 through E11
For trend traders this market sucks, just a lot of small back and forth moves.
Here is my weekly look at the markets, US Fed Reserve Chair Janet Yellen talk on Friday spooked the markets on what other wise was a very slow week
Markets continue to tighten
US dollar continues to rally, I am patiently waiting for some of these counter trend moves to run their course and jump in as prices start moving back in direction of longer term trend
August ends with the strong weak, and the weak strong
I will post some more month end stuff later tonight
Last 5 time USDJPY has been above the 200 ma on the 4 hr chart has been a great short, we are there again, can we repeat for a 6th time
My Year to date strong weak rankings show Yen with a huge advantage over all other currencies
Year to date % moves for all the pairs, biggest movers all have either Yen or pound
For the first time since March 28th, Yen is our weakest currency. Note; after March 28th, the yen only took 6 trading days to get back to #1. Yen is a buy here
What I am Trading
My short USDCAD trade has been looking like a total bust and one in hindsight I should had closed following the engulfing candle on August 19th, but I stuck with it and today’s action is giving me reason to continue to do so. If we can get a daily close below 1.3000 I will feel good about next weeks outlook for this pair
Another strong day for yen pairs as this years strongest currency the Yen continues to pullback. I am watching for a price action signal to short one of these pairs. As I have said in the past, best time to buy the yen is when it is weak
