CHFJPY was a new SW trade on close of trading January 9th then hit its high of +188 pips five trading days later
Ahh makes sense! I missed that first post about it, and saw your next post which sounded like it was the first day for it…oh no i’ve gone cross eyed.
EURGBP* is our newest SW Trade, I do like this one, down with the EU and up with Brexit
Top Trade EURUSD* also gave us a small gain
Top Trade EURCHF* is up to + 95 pips.
S/W grid is saying EUR/GBP is going lower? Correct? It’s approaching lows of 2017 and 2016.
yeah, was looking at EG today but it s right at support. gonna need more infor for a sell. but the SW sounds about right judging by the charts,
weekly has been tested 5 times. some say the more it gets tested the stronger it is, may be so but i guess also the likelihood of it to break it s higher.
I would wait for the pullback and retest of that diagonal S level, then possible entry at 0.8290.
I feel like this is making its way down to the 0.7870 zone on the weekly.
I got a feeling for 0.69 while we’re all having a guess here and completely off the actual strategy
Good week for being short Euros
Here are all our Top Strong Weak trades for the year, 4 are still active, no losers so far
Hi Dennis, NZDUSD ( I left with +45 pips btw) but it retraced all the way back and I recall that you posted about being stopped out eventually. Would you still class that trade as a winner ? cheers
Ideally you would have had moved your stop to break even, a break even trade is a win in my books
First congrats on the +45 pips,
For the purpose of this thread we need 100 pips to call it a winner, but when we got to 92 pips I did advise you move your stop to breakeven, and for this thread that Trade will go into the breakeven column so not a winner but sill not a loser if you managed it properly
you keep pulling in those pips
Thanks for finding time to reply…
Not much happening as most US markets are closed
EUR/GBP has been moving in circles, this is what I hate most in the Forex market, a directionless trade.
Top Trade EURUSD* closes in on the 100 pip mark, and look at NZDUSD*, technically we are out of this trade but for someone with different trading rules that allowed them to stay in this trade you could be rewarded here
Top Trade EURUSD* hit the 90 pip mark before pulling back, which is close enough for moving your stop to breakeven.
There is nothing about this market that makes much sense, but sticking to our Top Strong Weak picks has kept us in the game with minimal risk
I know this is lazy, but there are 3400 replies in this thread. Can someone link me to the entry/target/stop criterias for the strategy? I understand how you guys choose which currency pair to trade, but I don’t know how you enter. I am assuming it’s some kind of breakout, maybe of the daily candle?
Hi no you are not being lazy… always a great idea to make use of the resources here by asking the right questions…
Okay this is exactly what I do and this is how I join the trend once a SW trade shows up.
It is best to wait for a retracement as the pair is usually deep in a trend before it shows up as an SW top trade.
On my H1 chart, if it’s a downtrend,
- I mark out the most recent area of support major support that was broken.
- Price is likely to retrace to and re test that zone and become new resistance for the downtrend to continue…
- at that point, you are looking for price rejection candles, or hidden bearish divergence with an oscillator ( not necessary but gives extra confluence if you know what you are looking for etc…
vice versa for an uptrend.
This works for me 98% of the time…with good R:R
Hope it helps
I use a similar approach to 4ex_trader. The point is you need to develop your own method