I have been trying to digest your strategy. Please take a look and correct me if i’m wrong.
2.ema200 on 4HR chart (line construct close price)
3.Formula = (Daily close/ema200 Value)/Daily close
Base on the above chart, i derive the following conclusion. GBP and NZD are the 2 Strongest Currency. USD and CHF are the 2 weakest currency. Thus, we are looking to pair up GBP with USD and CHF. Or we can pair up NZD with USD and CHF.
Daily direction Bias are as follow,
Thus we should be looking for opportunity to buy this 4 pair.
I have included a net change in daily %. Since we are using Yen as the denominator. GBPJPY rank 1st. By default we can see that GBP is obviously stronger than Yen. However, because of a negative net change in the daily %. It shows that Yen is gain grounds against GBP. Meaning GBPJPY bullish momentum have weaken at the moment. Thus, we shouldn’t be looking to buy GBPJPY at the moment.
Please advise if i’m doing this right.