Trading week ending yesterday; I did my SW rankings. Being a Friday; are they valid for Monday Dec.12.16.
Another positive from the SW rankings is… it helps u identify pairs where one should seek opportunities
Julius Wfx
Dennis in short you do a multiple time frame analysis. TRade the trend.
With practice we shall make pips like you
Here is my weekly market review video, we have some great trends, I hope everyone is on right side of these strong moves
Strong Weak rankings with previous week for comparison
I try not to jump into new trades on Friday, normal to see a pullback in new week. Another thing that is common is opening gaps as trade opens in the new week, never chase an opening gap as they often will reverse
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Did my first sw rankings yesterday. Used your youtube video as a reference. My rankings are almost the same, but differ ~0.10% from yours.
Btw, re-entered yesterday. Now +410 pips. GBP and CAD still going strong. Hope everyone is in there.
Thanks again for this system, Dennis. Looks really promising.
Hi Dennis
Thanks a lot. As a student it’s good to report to your mentor. I think last week on Thursday, using my SW rankings I entered a long trade on GBPJPY as GBP was no 1 and JPY no 8. I ENTERED USING my entry signals on the 1 hr chart, using the stochastic, trend line, and fib levels. I noticed price had also broken the 200SMA on the daily chart, pulled back and touched the and then headed north again. I have been traiLing my stops and I have locked in 100 pis already and currently winning by 220 pips. You said using the 200SMA on the daily chart can keep you in a trade from a week to a month or months.let me see how it goes as I have 4 catalysts for the cable this week
1.Core CPI
2.JOBS
3.RETAIL SALES and
4.BOE statement
Julius
As I said in post #444 new week is a time for opening gaps and reversals and we had a lot of them today
some mild pullbacks, this market is so overbought we really need some deeper pullbacks to setup new entries
US Fed raises interest rates and US dollar surges and the surge is continuing in early Thursday trading
Being long US dollar is the play
Here is my weekly look at the markets, Fed raised interest rates this makes a strong US dollar even stronger, Market is holding it’s breath as US election is under challenge
Friday’s strong weak rankings with previous week for comparison
A beaten down Yen had it’s day today, no reason to think any trends have changed, Euro is not looking good here, if the Yen does rally shorting EURJPY would be the play. I like shorting EURUSD
Heya Dennis, good to see you’re still active in this forums.
I’m looking to short AUDUSD as well. What are your thoughts?
Yesterday’s rally in Yen was all we got as everyone was strong against the Yen today, trends continue
Good to hear from you, yes I am still kicking the ball around
On the AUDUSD the play would had been shorting it as price kissed the 200 ma on the 4hr chart ( see below) price is now extended put pulling back, longer term I see this heading lower, look for strong support at 0.7150, clear this and a trip down to 2016 low of 0.6827 would be likely. AUD likes to move up with US stocks so timing your entry with a pull back in US stocks like we had last week should net you a nice gain.
Good Luck!
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More Back and forth action, AUD is not looking good here and as I said in my last post I see AUDUSD moving lower
This will be my last post this week
Everyone have a Merry Christmas
Hi Dennis
I have a big question
I have been a trend trader but just using multiple time frame analysis. However I also trade alot of set ups. Ever since I landed on this Gold mine of SW analysis I am changing trading plans to fit in the SW analysis because it makes sense. However on Dec.14 wen the Fed increased its rates;i went long on the USDCAD yet according to Dec.13 SW analysis CAD was #1 (6.52) and USD was #4 (4.72) meaning that I had to sell the USD agaisn’t the CAD using the SW analysis. I am currently profitin by >200pips and targeting 1.3600. Today it beat 1.3500 and retraced back after the CAD retail sales and USD GDP.
wat do u have to say about such setups
I have failed to upload the picture of the setup
But on the daily time frame
Price was forming an ascending channel, was being supported at the channel support,which was in line with the 61.8 fib retracement, the 200SMA was also providing support and a morning star had formerd. My target was the mid channel support and channel resistance. I even added onto the pair on the 1hr chart wen I got a pull back
Here is my weekly market review
Strong Weak rankings from last two Friday’s
