Look for NZD to take over the #1 spot soon, Yen and USD have been weakening all week
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Hi Dennis May I ask You next to the currencies what those columns indicate I mean those numbers, I understand the first is the price and at what time of the day are taken? I Am trying to guess taken from the last 4H Bar of the day? As for the second and the third column I am trying to guess but better live to You to say, would be very helpful as You are so Generous to say How to interpret it. Thank You very much and have a nice Week-End
Rank order did not change much for the week but the short term trend did, every currency was up against the Yen for the week. The equity markets were in a nice rally until concerns over President Trump’s health came into play on Friday, If the President’s health improves look for stocks to move higher along with Yen pairs,
A= current price
B= daily $ change of price
C= daily % change of price
I am only concern with C for the daily trend
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Yen pairs are all green to start the new week with CHF and EUR leading the way, If this trend continues look for JPY and USD to slowing make their way to the bottom of the rankings
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Could a EURO/Yen trade be our next big play?
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We had a positive open for stocks but not for our Yen pairs, nothing to indicate a reversal so I see this as a normal pullback
The down move we saw in Yen pairs continued in the afternoon and gave us a very negative day, Could we be setting up for another leg down, stay tuned for tomorrow
What is happening with our Top Trade AUDJPY* we went short on Sept 25th but trade immediately went the wrong way, going as much as 200 pips against us, if you stayed in the trade today’s 100 pips down candle would have cut your losses in half. What happens next is a coin toss. Nobody said trading was easy
In Equities we had a big Bearish Pin Bar reversal in the Russell and Bearish Engulfing candle in the DOW, S&P and Nasdaq, this is better than a coin toss we will see lower prices in stocks short term, that should be good for our AUDJPY trade, at least our odds are better than a coin toss
this is the type of market that makes technical traders look like fools, everything yesterday pointed towards a strong Yen instead the Yen gets blown up
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Strong weak tells us to go short AUDUSD, what do you guys think, will this be a winner or is it just another AUDJPY short
Hi DENNIS,
Right now y “stonger yen & weaker dow” (INDEX) concept not working. What else to be taken into consideration. Any thoughts.
Hey Dennis,
I do like the look of this being a short. Bulls created a high which ended the day being bearish. Bulls failed to break the same high and subsequently bears have taken control, breaking bullish structure and pulling back to the same area (+50ma) allowing for a low risk entry.
However, the market does what it wants and as you’ve mentioned…technicals can be blown out of the water.
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a bit of a mixed bag overnight, US stocks are set to open higher and as should be when Risk is On the AUD is leading the currencies
that is the great thing about having years of data, we know there will be times that Strong Weak does not work, but those times are short compared to the long winning streaks we have seen, for me I will be patient and wait for tradable trends to return
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Technically speaking it is that last big down red candle that is our key, if price goes below 0.7100 then the red candle is validated and we go short, if price goes above 0.7200 then that red candle was just a pull back following a short term rally, In between 0.7200 and 0.7100 is a no mans zone
This is our third day in a row with a new Top Trade, when that happens we know the market is rotating, and another reason not to blindly take every trade based solely on my rankings
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