NZD was down for the week against the Yen but continues to hold #1 by a wide margin, Current Top Trade NZDCAD crossed the +100 pip mark late in the week so chalk-up another winner for SW
can you please help me to understand the numbers in the table?
Hi,
It is nothing complex; this is how I think about it.
Strongest currency for today is NZD (Position 1) Weakest currency is CAD (Position 8) hence I assign + 7 (8-1) for the strongest currency. And I do this for all the currencies. Hope that helps
Many thanks. And what does different colours reflect?
Hi,
+7, +6 = Pairs are in Green
-7, -6 = Pairs are in Red
+5 = Pairs are in blue
-5 = Pairs are in Orange
Since I trade retracements colour clusters helps me to find extended moves, if that make sense
Perfect. Many thanks !
Good Monday morning everyone!
We are starting the week on a mixed note, with some strength in Commodities, weakness in Europe but unless you are long CADCHF you are not seeing much movement.
Odd day in Stocks as we see the DOW doing well but the NASDAQ ( IXIC) in down, that would normally indicate a flight to safety but in this market, if could just be the Fed propping up the DOW, maybe they will do the same for the NASDAQ tomorrow
Thank you for this.
This market just cannot make up its mind, big down day for Yen pairs lead lower by AUD
Stocks are down again too, maybe this is the September selloff we have been waiting for to set up some low-risk buys
Euraud is a interesting pair I see 2 different scenarios!!
Potential Right Shoulder forming!!! Will it hold?
Hi @Dennis3450,
This is a fascinating thread and thanks for sharing. I’ve followed you for a couple of months now and am always interested in your analysis. However, I haven’t been able to fashion a strategy that successfully incorporates this information. I’ve seen a lot of discussion about how to calculate and rank the pairs, but I haven’t seen much about trading rules. How do you actually use this information to place trades? What are your entry and exit rules? Do you correlate this information with other technical indicators?
Again, I really appreciate what you’re doing here. I’m just trying to figure out a practical way to incorporate this information in my own trading.
Take care,
B
regarding nzdcad…i have a short order in the market i see a potential double top and could be breaking down from a symmetrical triangle and longer term could be a complexed head and shoulders pattern. Howerver, i would like to add that it could break topside as well so if it does I am prepared to go long as well.
yes, that is the one scenerio i am watching and looks like its finding resistance