Following the Canadian Bank rate hike price of CADJPY has been consolidating sideways, this looks like a bullish flag, I am looking for this to break higher, but with USD even weaker then Yen, I like CADUSD , both are good trades, we will see which was better in the next week or two
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Not much happening today, Top SW Trade short USDCAD was down as much as -57 pips, which means our trade was up +57 pips
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Top Strong Weak Trade CADJPY has been moving sideways for 8 days now, but I sure like today’s candle, as long as we do not get a daily close below 88.00 I like this to go higher
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Looks like everything was up against the Yen today, Top SW Trade USDCAD inched ahead to +60 pips, we may have to endure a little bit of a pull back before this one gets moving
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Thanks Dennis. Once i’m allowed to post screen shots, i’ll share some trades i’ve been taking.
All the best.
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Top SW Trade AUDJPY has tested our faith by being down as much as -100 pips, but a strong candle today has it back in the profit range, like the song says, " you have to know when to hold’em, know when to fold’em" this one may prove to be a hold yet
as I noted two days ago Top SW Trade CADJPY was ready to break to new highs, and as we see last two days that is what has happen
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Here is a updated recap of Top SW Trades from June, We had 5 new Top SW Trades, Had you been aggressive and set your take profit target at 300 pips with stop moved to break even once up +150 , you would had made 900 pips on three trade, broke even on one, and lost -150 on one, for a profit of 750 pips. Not too bad!
A more conservative approach would had been a profit target of +150 pips, doing so would had 4 winning trades and one looser, for a total profit of 450 pips, still not too bad
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some consolidation at the top as NZD surges, USD returns to it’s losing ways
Long term Top Strong Weak Trade surges, knocking on door to a 400 pip gain
With so many Top SW Trades raking in the pips it is hard to keep up with them all, so lets start with the newest, USDCAD short, topped +100 pips today, Next AUDJPY, this one went negative -100 pips but now in the positive and that pin bar reversal today looks like a good signal of more to come. Last we have YTD Top SW Trade EURUSD, this one is up +300 pips from my July 12th post.
These trends will not last forever so enjoy them while they last
Hi Denis
I have been reading through your forum and the older one here in BPips. I am interested in the analysis. Can I ask why you chose the JPY for the baseline currency? Thinking about it, I can see it is a non-comdoll, stable politics, militarily neutral and a safe haven when the milkshake hits the fan. And interest rates are eternally near zero. But I am interested to know what are your reasons. I am going to start analysing in this manner to see if I can make it work.
Another question - I guess if the Yen is always zero, and all the others are negative, that is because the Yen is the strongest in the basket right? An then trading long Yen is considered?
Thanks for this info by the way
Geoff
Thanks for this Dennis, it’s a gold mine of opportunity.
I’ve a question myself, which is probably already answered by your recent results.
How do you feel about summer trading? Do you continue as normal? (Looks that way!) I’ve heard a lot about how price can be very erratic due to low volumes etc.
cheers,
Ben
Sorry, running a bit late tonight, I would need a ten minute video to cover all that happen today. Roller coaster ride in US stocks had big effect on currencies, New Top SW Trade AUDCHF as the Swiss continues it’s divergence from the Euro, Market is consolidating so our winning run might me over for the near term.
New Top SW Trade AUDCHF , this is not one I normally trade, for tracking we will use today’s close of 0.7682 as our entry point
before yesterday’s selloff , Top SW Trade NZDUSD hit a new high of +421 pips, it has been a couple of months since my last SW Trade topped +500 pips, maybe after this pullback NZDUSD will be the next
We get a one day pullback and all 7 active Top SW Trades are up today, Oil is trending higher which should keep the CAD near the top of my rankings
Hi Geoff, sorry for delay in responding
I use the Yen as my base because it is always listed last against all other majors which makes it a natural common denominator, USDJPY, EURJPY , GBPJPY, … and so on
Yes the Yen will always be zero in my rankings making any currency in positive stronger then the Yen and any currency showing a negative will be weaker than the Yen
Hi hope this helps
Hi Ben
The rule has always been " sell in May and go away" as months June through September historically under perform with August and September being the worst, But with so much Central Bank interference, and so many “experts” calling for a market crash, normal has been turned upside down, This market ponzi scheme will crash at some point, but will it happen next month or 5 years from now, no one knows
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Here is a recap of my current Top SW Trades, we have been on a great run. 7 Active SW Trades and only one is negative
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Hi Dennis,
Thanks for this amazing thread.
Can you please advise how you decide to take an entry into a trade? Is it as soon as you see a new Strong weak pair or you apply other technical filters or analysis into it?
Sorry, if you have already covered this in some of your posts in this thread.
Hi vaibs,
I am tracking the Top SW Trades, but leaving just how to trade them up to each trader as to their trading plan,
The simplest way is to just take a trade entry after the close of the daily candle that gives us a new SW pair, others might choose to wait for a pullback to support, then go long ( or short) , I have gotten post from people who are taking day trades using my Top SW Trade. Lots of ways to play these, but as long as you are trading with the trend, your odds of a winning trade are better than a coin toss, which is going to profitable in the long run.
I hope this helps and happy trading
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