NZDJPY currently at the 200 MA on h1, possible short entry soon
Strong day for Yen as US stocks trade lower, Top SW Trade NZDCAD pulled back for second day, I will be watching 0.9000 as a place for an short entry if we can get a reversal on the 1hr chart
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FM, did you take the trade, that was a great entry if you did, look at that little pinbar reversal right on the 200 ma
Yeah Dennis, I am currently in that trade. My entry was at the close of that big red candle
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Hi Dennis, we are seeing loads of JPY strength lately, possibly due to a risk off narrative. Euro is slightly getting weaker as well. Will you be looking to downsize your Euro exposure?
EURUSD is by far the strongest trend of the year, and there has not been a strong sell signal, after this little pullback and consolidation I would expect it to continue it’s up ward path,
Until something changes I will view any weakness in Euro a buy and any strength in USD a short
After a two day pull back , #1 CAD surges,
Top SW Trade NZDCAD after pulling back surged into the profit zone, Up +112 pips at one point.
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Here is end of day Strong Weak rankings , I included the day before as a measure of today’s move, I think I will start doing this more often. US dollar was weakest on the day, and continues to lead the rest to the down side, USD is beginning to look like the Euro did a few years ago, now the talk is about the USD losing it’s world status
Top SW Trades NZDCAD, NZDJPY and EURNZD continue to do well
Hi Dennis, is it too late to enter UCAD short right now?
It is always a good time to short the US dollar, as in my last post, USD is looking like the Euro of 3years ago. Now as far as USDCAD , our SW short signal came on July 21st, if you held through the pull back you would be up +430 Pips today. You had a great second entry on August 31st, and it has been straight down. Now do we keep going lower or do we pull back, no one knows, if you do short here, make sure you have a plan, will you hold through a pull back, or take a quick loss and wait for next setup, and what is your plan for taking profits.
Back to your original question, " is it too late" personally I would wait for a new setup
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The Comdolls are down and stocks mostly flat as all eyes are one Florida, Not looking good for us in Orlando, this path could have the eye wall coming over my house.
Do not expect any post after Saturday as we expect to lose power
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Hi Dennis,
Stay safe.
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Stay safe Dennis!
Ben
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Here is my review of my current Top SW Trades, I wanted to get this out before the hurricane takes out our power, if you do not see any new post after Sunday then you know we are without power. If you are in the storm area , please stay safe
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Thanks Dennis for the SW explainations
The Alligator lives! Hurricane, what Hurricane. but seriously we were blessed to have gotten out of this thing with so little damage, we still have electric while many are without tonight.
As far as the markets, The stock market honored the 16th anniversary of 9-11 with a huge stock market rally, DOW up $260 S&P new all time closing high. and as stocks rallied the Yen got killed, short NZDCAD remains our Top SW Trade but has done nothing for a week, We are seeing normal market rotation, some of the weaker currencies like USD are having a counter trend rally. Good time to step back and look for new setups once the long term trends resume
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Glad to hear you’re safe and dry Dennis.
Thanks for the updates! 
Ben
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Its so interesting to compare reality with hope - what Dennis posts up here being reality, and hope being what Oanda’s clients are hoping for as they sit tight long the USD and short the EUR, on the firm’s sentiment indicator table.
This is a great service Dennis.
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How does anyone look at this chart and tell people to go short, sure you might get an overbought short term correction but that is high risk trading, to try catching those short term counter trend rallies, I would never recommend such a trade to anyone
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I was stopped out on nzdjpy, but my nzdcad short is still on although in a bit of dd