Trading the Trend with Strong Weak Analysis

No change in the rank order, Stocks mixed led by DOW

image

3 Likes

Not all daily close candles are the same time, can change dependant on broker and software. But typically they are 22:00 UTC. Denis has previously said he takes them at NY close which is 21:00 UTC, but that might be a misunderstanding by me.

The images Denis shows on trading view show that the 200ma is on the 50sma. Maybe that’s not where he gets his data from, but it would explain why your numbers are totally different. Look at your USD 2.155% vs 2.64%. You’ve put a smiley face that your answers agree, but they’re not even close to the same.

1 Like

Big down day for US stocks, this sent the US dollar soaring higher. and our top SW trades also had a pretty good day

image

3 Likes

Yes, very observant comments, let’s address the time issue first.

It has been my understanding and opinion that the unofficial “close” of the Forex trading day is 5 pm New York.

The purpose of this is to give 5 equal, Daily candles for the trading week; I can link many articles pointing this out, and forum debates on which brokers do what, possibly you have seen them. Do you a different time for NY or FX close?

Now specifically, you state that NY close is 21:00 UTC but please study this image and tell us how you are going wrong.

NYSE closes at 21:00. You could have just googled that rather than arguing the toss.

The only doubt I have is that the 22:00 candle makes more sense for this system since the 4h and daily candles typically line up with this.

We don’t really care about NYSE = Stock Exchange, this is Forex trading, not Stocks trading.

Many times, I have pointed out FOREX daily close is New York local time 5pm all year long.

If you choose to ignore, I’m done helping people here!

Gator, good to see you are still liquid, and you still have your hide :wink:

The Ever Salutin FL VIPER

1 Like

Stocks rebound and currencies where mixed

image

4 Likes

Hey F, you do know that when you are trading Spot Currency, you are trading a derivative right. So on the macro level, all of the stock markets matter, and always impact the underlying products. So being mad will not change the reality.

The Ever Educational VIPER

Sounds great in theory, but in reality, it’s…complicated.

And the focus of this thread is on Forex, Strong vs Weak, as determined by 2 points of price, I’m going with that.

Hey F, most retail platforms close at 5 for server reset, my Currnex platform with my 3 primes do not, and that is one of the differences in retail and institutional. For educational purposes the charts I post here are taken from my Oanda retail, it fits most of the other retail platforms folks use here.

The Ever Swimmin With The Sharks VIPER

Not a theory, get a futures feed and watch the price action pre market of futures that correspond to the product one is trading. That’s why the Gator has had good success with his method. Anyway we have trade the way we trade, it is individual, so I wish you success.

The Ever Well Wishing VIPER

Good for you, good luck with your thread and the way you trade, bye.

I am traveling, no reliable internet here, next post will be on Wednesday

image

2 Likes

The last time NZDCHF was our Top Trade we did not see any follow-through, maybe this will be different

image

2 Likes

image

Depending on your time frame, This could be a new trade or a continuation

2 Likes

image

2 Likes