EUR continues to weaken
As ever…
Looking at the last 6 weeks of the EURJPY 4hr chart, see how many times price has touched and held 126.00 and we are sitting there again
I’ve been watching this. If/when it falls below 125.6 I think we’ll see a nice drop. I’m ready for it.
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He is another one, this time USDJPY, for the last 7 months every time the price rallies above the 200ma on the 4hr chart the rally fails and we get a lower low, and that rally is failing right now
The Yen is slowly rising in the rankings
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Maybe so, all green for Yen pairs,
I am looking for our long-held Top Trades to resume the trends that made them top trades
Maybe the holiday was an issue, I must admit I forgot about it.
I see the JPY strength, though I still have it ranked 6th out of 8 currencies, USD is below and EUR is bottom. But EUR always disappoints in the sense I find it never stays really bearish or really bullish for long. I expect JPY and USD will be fighting it out for bottom slot again soon, and USD will win.
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I guess it’s a matter of perception, YEN rise, JPY pairs going up, must be strong, I got it
Hi @FOK, I know the FinViz Currency Strength page displays “1 DAY RELATIVE PERFORMANCE”
But I’m very confident that the currency graph is based on the 1 - 4 hour timeframe no matter what is displayed… it’s just too volatile to be gauging D1 Currency fluctuations. You may find this tool more helpful if you want various timeframes and strengths.
Hope this is of some help…
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You do have that right , we live in an Upside Down world, Trading with rules that worked 10 years ago will get you in the poor house fast
EUR/AUD top trade unfortunately is not doing too well.
I had a paper trade open at 1.56642 (short) with 100 pips SL and got stopped out.
Top Trade EURAUD* has been going the wrong way for the first two days and as meza pointed out down -100 pips, looking at the 1hr chart we see price just crossed above the 200ma, a break back below the 200ma would be a good re-entry point if you were stopped out or have not yet taken the trade
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I am a fan of trend trading. I follow this style to capture gains through the analysis of an asset’s momentum in a particular direction. I tend to enter into a long position when a security is trending upward. Following the trend has always worked for me so far and I am sure that it will in the coming time also.
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No matter what. These rankings do provide the best opportunities. I have both manual and automated strategies following these rankings and the results are better than I ever had before. Most of the time I can succesfully gauge the momentum and enter after a pullback.
There is no holy grail, but this may help lots of struggling traders. Just stick to it and improve results.
Thanks Dennis and yall for the great inspiration.
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Hi Dennis, after sorting the strong weak. How do you go about your entries? Appreciate if you can explain a little bit more on it. Thanks.