Mixed day so far, US stocks are just barely positive, and Crypto is still struggling
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Clearly, the market has switched gears again, and we have a week of risk-on buying, looking at some weekly charts we see some strong weekly candles
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This article might interest you: USD/JPY Weekly Forecast: Is the Fed serious about inflation? (fxstreet.com)
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they claim 6.8% inflation in November but anyone going to the grocery store, trying to rent an apartment or buying any kind of healthcare knows the real inflation number is over 10%. They have already announced a meager 5.8% raise for Social Security payments, which does not even keep up with the reported inflation number let alone the real inflation number. I was hoping to see some pushback by senior groups but they are all pretty much sheep these days.
Saw a guy on TV that said they now “calculate” the CPI differently then they did in 1982, which the claim
is we are the highest since. Said, IF it were calculated the same, we’d be at 15%, the highest since 1980.
I was a broker at Merrill Lynch in 1980. Said this current calculation weights fuel prices at 4% of the indicator.
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We start the week with a risk-off day
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very little change, stocks are still in risk-off mode
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Up day for Yen pairs as risk-on comes back into the market. US stocks erased most of Monday and Tuesday loses ,
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Where and how do you check the strenght/weakness of the pairs?
Check here for a great visual and huge help for day traders
A few days I was comparing Marketmilk to this thread. This is superior. You won´t get good trades from Marketmilk. Dennis explains how he does it in first posts, so does in youtube.
First I thought “but he only use the yen as a reference, it can´t be that good” but it works many times
We seem to be rotating from risk-on to risk-off and back to risk-on almost daily, Today we were up big only to see an across the board reversal, This daily pin bar in GBPJPY is troubling if you are bullish
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More evidence of the market rotating into risk-off is the large selloff of the Nasdaq while the DOW is only down a fraction, looking at the chart of the Nasdaq shows a lot of big red candles starting with the bearish engulfing candle on Nov 22.
Does this mean no Santa rally, maybe, but if we do get a Santa rally that might be a good time to sell risk
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And two hours after my last post we see the market back in rally mode with most Yen pairs now positive for the day, what will happen tomorrow, flip a coin
I must point out through the last few weeks the Swiss Franc has held up well
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Can you share some of your supporting evidence for that statement?
It seems too board to be able to justify; after all, it is comparing apples to oranges IMHO.
By that I mean, Dennis system here is very long term, which sometimes requires 300, 400 or even more pips stop loss before the market eventually returns to the signal point.
While, as I stated when I gave the MarketMilk reference, it was suited to Day Traders, although there are different time frames settings available there.
Perhaps that had a bearing on your own experience; which time frame did you use while doing your research and comparisons?
No need to give any kudos for using the YEN as the base currency; the exact same results are obtained no matter which currency is used.
I use mostly the 1h.
The thing is to use your own TA and just use the strenght as a bias confirmation. Enter on pullbacks.
First day I saw this thread I went into quick comparing to marketmilk. Since this is just counting JPY, I thought the other was better at first. Then I follow it a couple of days and this one was better. (Using the daily of Marketmilk)
But don’t believe too much of what I say, I’ve being trying thousand of systems for 2 years and I still not profitable.
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Hi all
Can I ask what strategies and entries/exits different people are using with this strong/weak strategy?
How do you personally trade this strategy?
Thank you
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This is the most simple strategy ever; when the long term and the short term strong vs weak are in align, check the price action, trade when conditions are right according to your trading plan.
Here we can see, perhaps,
Sell - AUDCHF, NZDCHF, AUDJPY, NZDJPY
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Tip: try on a DEMO first, always use stop loss and take profit
The readings are the same here
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The reversal we saw on Thursday continued on Friday suggesting a down week for Yen pairs in the week ahead. Stocks are showing the same pattern, meaning this year Santa rally may be nothing but a lump of coal,
The Good news is our SW rankings are keeping us on the correct side of the trade
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