Strong Weak rankings for Monday, Yen pairs gave back some of Friday’s big gains, any weakness in commodities is a buy
Hi Dennis how are you mate?
I have one doubt, I hope you can share that with us, how exactly do you calcule the strenght based on yen as reference? i am bit confused and intrigued at the same time.
thanks for all explanations in advance
Strong Weak rankings for Tuesday, CAD remains the play as oil prices rise, being short EURGBP is looking good here as well
beware of Yen, it is still one of the top currencies this year and has a habit of bouncing back quickly, I have gotten burned many of times shorting a weak yen
do you have myfxbook stats?
Hi zwara, a lot of people will use the USD as their base currency, I like the Yen as it is always listed last against all major currencies making it a natural common denominator . The % you see in my rankings is how far price is above or below the 200 moving average on the 4hr chart. With this method I only need to look at the 7 yen pairs to know strength of all 28 pairs that make up the majors.
Example; If the USDJPY is at 1% and the CADJPY is at -2% then I know just by looking at my rankings that price of USDCAD is going to be very close to 3% above the 200 moving average on the 4hr chart . The whole idea of strong weak analysis is to match the strong to the weak and ride the trend.
Hope this helps
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never used it
hi Dennis, yup the a idea is good match the strong and the weak is probably the safest way to trade.
but forgive my continuous questions, how do you determine the distance in percentage on the 4h charts from price to 200ma?
thanks in advanced
formula is (Price - MA) / Price = %
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so for example AUD/Yen
price is now 85.05
200ma on 4h is valued at 84.38
so you calculate 85.05 - 84.38 = 0.67 / 85.05 = 0.0078%
is this any near to being correct ? cau se i cant get the same figures as you do…
sorry mate I’m realy just trying to understand cause i like the concept.
thanks
Close: 85.05 - 84.38 = 0.67 / 85.05 = 0.0078 = 0.78%
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Strong Weak rankings for Wednesday, big move to the downside for Aussie, one day does not make a trend but that was one big move down to #8,
yes you got it,
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Here is my Strong Weak rankings for Thursday,
Tuesday I said
I hope you took my warning and did not get caught short yen, as for my own trading I for once took my own advise and was short USDJPY going into the day, yes it was a very good day:21:
wished I had found this thread earlier. Question, Do you ever plot these percentages? If so can you post one for the month?
You mean like this
Yep thanks Dennis, I’m gonna convert this to a line graph and see how it looks.
Hi Dennis, i still confuse which Frame to entry ( D or H1) , sorry i am a baby in forex , tks.
My weekly look at the markets, we have some really good trends and new setups, life is good for us trend traders
My Strong Weak ranking is based on the 4hr chart with 200 moving average, as far as entry that is all up to you, I take trade setups on Daily, 4hr, 1hr and sometimes weekly charts, key is to trade with the trend and match a strong and weak currency. One of my favorite entries is on pullback to the 200 ma on the 1hr chart
Here is 1hr chart of USDCAD, look at all those short entries on pullbacks to 200ma,
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Year to date the Yen is the hot currency, even before thursday’s selloff of yen pairs, yen has been the top currency most of the year. Until something changes yen pairs should only be shorted
close behind, on the strength of raising oil prices is the Canadian dollar, as long as oil is rising, being long CAD is a good alternative to the volatile Yen
on the short side both GBP and USD remain weak and should not be owned. For my own trading I will be looking for setups to short both USDJPY and USDCAD
