I like the approach. Previously I displayed only the current currency strength chart, as a kind of dashboard. But this approach allows lessons to be drawn from “typical” behaviours of each.
For example, I feel sickly if forced to be long on the EUR or short USD.
Now with all the data entered, it was easy to have the Strong vs Weak for the last 100 days or at least entries.
Of course, that is a long time, so it is best to watch the most recent days or entries to spot the changes coming.
The usual criticism, observations, comments, and suggestions can now be made. Naturally, likes, high-5s, back slapping, and PayPal donations will be given preferences, cheers.
Thanks for asking; it is a simple tally of the number of times a Currency appears in the top 3 or bottom 3 positions of Strong or Weak, as explained in the initial post of 6480.
Please review all posts and examine the data supplied.
In fact, as I do that, I am now thinking that a “weighting” factor might be required because of what I see here in the recent 25 days table.
The top 3 currencies are virtually equal in the total number despite CHF being there 18 out of the 25 days. I’m thinking of using 1.5 for the Strong 1, leave Strong 2 at 1.0, and Strong 3 at 0.5. And the same goes for the Weak side data of course.
Anyone familiar with massaging this type of data? Any quants or statisticians here? Cheers
I did see that during my review and data gathering, and look where it is now.
This is a good point of the table that I have complied, as it looks like the Sell of AUDCHF is a warning to give up on the Buy of AUDJPY, although it is doing well today.
Speaking of missed signals, and not saying that you missed it Dennis, as you don’t trade all pairs, but have a look at this. I’ve only looked back 100 or so days, and Monday, April 17 is the first day where CHF is in the Strong spot and JPY is in the Weak spot.
Now anyone that has been looking at the charts should know that CHFJPY has been in one of the strongest trends ever; this is exactly the type of price action that is the focus of this thread. The thing is, you never know which pairs might be the ones to trend.
You don’t even have to catch an exact entry, the “signals” here are simply a guide to what could be happening, and the price action definitely confirm it here, could be traded at any point along the way. Currently 1,400+ pips up.
SW has been giving us buy signals on CHFJPY going back to May 2021, those earlier signals would have been difficult to hang onto but this last one has gone completely parabolic
No matter how you trade it, using mine or your own version of a Strong/Weak ranking has proven itself over the 8 years of this thread.
Congrats to everyone who has stuck with this and sought to improve it