We finished the week with the bulls in charge, and I am seeing a number of flag patterns, CHF broke out of its flag and is the only Yen pair back at its previous week’s high. USD is still in the flag but looks ready to breakout, USDJPY has had a great run and may not be finished. CHFJPY was a failed Trade back in June, but if you found a way to hold through the 4-month pullback your loss is now a nice profit
Hi, This is a custom indicator that was built by me using Dennis’s method with a bit of a tweak but nothing fancy simple SW equation. I have mentioned the full logic in many posts in the thread. You can easily plot it on an Excel. If you are still interested I can give you the email of the programmer, he will give you a copy, unless you understand the SW in full depth this indicator will be a waste of money. Only reason I use this is that I trade only 1 hour per day, hence using this indicator I can spot the zones easily and can set my limits quickly.
Thank you
Another strong day for CHF, anyone here trading CHFJPY?
Hi Tommor
If I understand this correctly, you have currently 12 positions opened. Wouldn’t there be a lot of correlation and therefore compounding of risk?
No this represented 6 positions open, each Long/Short marker refers to a position in that currency. But correlation is always an issue with forex, even the pairs that are not directly correlating tend to rotate at the same time. Correlation still catches me out at times.
That’s a total flip, AUD getting beat like a rented mule
and still, FOMC and Bank of England are left to mess up any trends in progress
Yen pairs are taking a bath today, Stocks are still green so there is a disconnect from this Yen strength
Seems there was an election and the liberal democrats won. Which gave me a shock until I realised it was in Japan not here in the UK.
I figured the chf had enough so went long usdchf lol
CAD nudges past AUD but the real story can be seen in a chart of AUDJPY, we can see a triple top and price is breaking down.
Another odd thing is US major stock indexes all hit new ALL-TIME highs, which is not normal during a run of Yen strength
AUDCAD and NZDCAD same opportunity, reacting to old SW Zones. Looks like AUDCAD is slightly leading to NZDCAD.
audjpy still looks fine to me…nothing goes up in a straight line hahahaha
All green day for Yen pairs as NZD moves into the #1 spot, looking at NZDJPY we can see it is still in a Flag pattern, and today’s gains did not totally erase yesterday’s losses. NZDJPY looks like a good trade here but Yen has been weak for a long time. As I have noted before, the Yen likes to make several 8 to 1 and 1 to 8 moves each year
Didn’t see that coming, be some nice GBP numbers for the calculation today, and still NFP to finish the week off.
Yen pairs take another tumble. New Top Trade is CHFJPY, this one did not work out so well for us back in June
Audjpy is still bullish lol
Love these opinionated comments with no supporting chart or even rational explanation
Perhaps a short course in basic chart reading is in order, but anything can happen.
1 - Lower High and Lower Low
2 - Trend Line Break
3 - Pin Bar
4 - Inside Day
5 - Bearish Engulfing
6 - 5 EMA cross 12 EMA down
7 - 4-Bar Fractal Sell Signals
8 - Lower close of the previous day
8 - Lower close of the previous week
9 - 50% retracement target is Average Monthly Target
