Top strong weak trade short GBPNZD retraced all the way to the 200 dma, before heading lower and hitting a max profit of + 214 pips. This is a good example why you need to give these trades room, place your stop too tight and you lock in a loss, and miss the big profit
Still active SW trade NZDUSD came out of it’s week long consolidation to hit + 182 pips above it’s June 5th entry point.
NZD was strongest on the day, extending it’s hold of the #1 spot, while Swiss Franc was weakest
Big up day for all the Yen pairs, if you were short Yen you did very well, My Top SW trade is still GBPNZD but gave back all of yesterdays 200 pip gains. That is the hardest part of trading, knowing when to bank a profit
DOW at all time highs, Tech sector consolidates, Oil down but energy stocks up. Gold down, Cryptos big pull back after record run. Forex consolidates
All this covered in my weekly market review
NZD holds top spot but CAD continues to gain , Top Strong Weak trades GBPNZD and NZDUSD were up early then pulled back late
Top SW trade short GBPNZD is on the move again hitting a new low, for a pip total of +221 from it’s entry point. Price is pulling back now,
Looks like Yen was strong on the day with NZD close behind, Pound takes another step lower as our Top SW Trade short GBPNZD hits a new low and up as much as +242 pips from its entry point. It has been a wild ride on this one, if you took this trade, I hope you managed your trade for a profit.
After a little pull back , Top SW trade GBPNZD hits new lows , this trade is now up 253 pips,
European block showed some strength today, Top Strong Weak trade short GBPNZD was up as much as 270 pips before reversing
Currencies continue to consolidate and move sideways, NZDGBP has been top SW trade for 9 days now and only 270 pips to show for it
Top Strong Weak trade update, 8 of the last 9 top SW trades have it profit levels 157 to 656 pips, the odd one out has been NZDAUD, this became a top trade on June 2nd but only for one day, as price reversed on Monday June 5th, but if you stayed in the trade, you would have been no worse than down -135 pips and today we got a strong down candle back in to the profit zone, maybe we can get another move lower and be 9 for 9 with pip profits of triple digits
Good work as always Dennis.
Just wondering - do you trade full time and is the earnings enough for you to live on?
Thanks for the comment
Right now I am in the wealth building stage, I have other income so I am not relying on my next trade to pay the light bill, Long term goal is to have enough passive income to pay daily expenses, Trading income will then be money for enjoying life. And it is not just Forex, I am building wealth through, stocks, metals, Bitcoin, and real estate
My Weekly look at market Trends
Yen was weak on the day, everyone else held their ground.
Big move in the Euro block as Yen moves down to 8th,
Top Strong weak trade GBPNZD hiit a new low early morning giving this trade a +318 pips before reversing the entire 318 pips , what a ride. NZDJPY will be our new top SW trade,
CAD surges into the #1 spot, as the whole market is now strong against the Yen, Yesterdays top strong week trade NZDJPY was up 44 pips, this is still a valid trade but our new top SW trade will be CADJPY, and the CAD is very strong here
Note, in my SW rankings yesterday I miss calculated the GBP, I corrected it and included the correction below
Yen pairs were very strong early then pulled back into the close, Top strong weak trades CADJPY and NZDJPY were up 65 and 71 pips before pulling back
Here is my weekly review of market trends, being end of the month and mid point of year, I am looking at the long term trends on monthly charts ,
