For sure if the majority of retail traders are short the market will go up, but I don’t think it’s a market manipulation at this level. Spreads, quotes and bad brokers yes, but change the market like that no…
I think this is the dollar falling following the major indexes and,more importantly, the market expecting 2 or 3 rate cuts from the FED this year. Check the dollar index, we were almost at 100!
Now AUD and NZD and indexes taught a valuable lesson. In times of crisis like that, open a trade a let it open, don’t take profits no matter how many digits they are!!! Instead of a 3 digits, you may wake up one day and don’t belieave your eyes when seing a 4 digits blue number on MT4.
It can always get worse and you never know where the bottom is.
You have made some valid points here, but on profit taking, I will differ, I take profits regularly when I hit H4 H4 support or resistance, depending on my trade direction. INCREASE my equity and then wait for a retracement and then rejoin the trend. I tell any one who cares to listen " You will never go broke taking profits off the your broker "
Did they cure the Coronavirus, in stocks we saw a big reversal on Friday and follow-through today, anyway the markets are crazy and make no sense so be careful here
When Fed cuts rates and the Market sells off is never a good thing, Our SW rankings are spot on as to what to trade if you decide to trade just remember any news can have these markets reversing
Please take the time to read the thread. It’s a simple method which is thoroughly explained over quite literally thousands of posts.
The gist however, is to calculate the current Strongest & Weakest currencies based on Yen as the common denominator, using Daily candle closing prices and the 4hr 200ma closing price. This gives us a good idea of what we should be buying/selling. For example in the 3rd March rankings, JPY is the strongest, NZD is the weakest and there’s a good 2% difference between them. It’s a solid indication that the pair NZDJPY would most likely fall in the Yen’s direction. How you enter a trade on that pair is your decision.
Personally I have found it most difficult over the years to simply get the direction correct. I’ve done one of the biggest flaws as a trader and that’s jump from system to system, only with time do you look back and think " jeez, if i just stuck with that 1 strategy i’d be doing quite alright" - Play the numbers game, deal with the losers, enjoy the winners, keep it simple and stick to 1 strategy. You’ll be amazed at what you can reap.
No idea where that all came from… too much coffee.
Does everyone calculate all of these %'s everyday manually or is there some sort of indicator that does it for you? I honestly have no idea how to do this manually. I read the post that explains how the strengths are calculated but I still don’t know how to do it. Sorry for the newbie question.
