Top SW Trade GBPNZD is back on the up swing and once again above our entry point, below is H1 chart, look how price keeps pulling back to 200 ma before rallying higher
Mixed day, with no changes at the top or bottom
If it holds we are seeing that flag breakout I called for yesterday
1 Like
CAD was the big loser of the day, and USD did well, everyone is just siting in a tight range, Top SW Trade GBPJPY is doing nothing for us,
Lovely strategy, Strength & weakness is always the best
1 Like
AUDUSD is giving us a nice pin bar reversal on the daily chart. This would be a contrarian trade going against the current Strong Weak rankings , I will wait for the daily close , if this candle holds I might just take a little nibble
Hello Dennis,
What do you think of USD/CAD. I was patiently waiting for the price action to cross SMA 34 on the daily chart.
I want to sell USD/CAD, but do you think USD strenght is going to last?
Thank you and BTW I really appreciate your posts and weekly reviews.
We are seeing signs that this counter trend rally in the USD might be over, my earlier post of AUDUSD is an example. Price in the USDCAD reverse at a key resistance point. This trade is a coin toss at this point, I do like how the last green up candle was the largest candle of this up move, final candle in move is often the largest.
Is the run in the USD over, it is giving signals of at least a pull back, I will be playing to dollar short but we need to break old lows or this could just as quickly head higher again
1 Like
Here is a review of my current Top Strong Weak Trades, no new action last week, but we are seeing some new trade setups in their early stages,
If I had to pick one I do like GBPNZD, and a move out of the #8 spot for Yen is a good bet, I am just not sure yet the best thing to match it with, maybe a short USDJPY will work.
these are not recommendations, do your own evaluations and make sure these trades work in the framework of your trading plan
4 Likes
Thanks again Dennis!
On a very sad day here in the US, Euro sector was down, with strength still in the US dollar, we also saw major stock indexes at new all time highs.
US Dollar Index is moving into some strong overhead resistance at 94.00, that is something to take note if you are long Dollar. Also is that the early stages of a inverse head&Shoulders, time will tell
US dollar creeps closer to the top spot as the rest of the market consolidates
this market has gone completely asleep, last trade signal was September 15th. The good thing the longer we consolidate the bigger the move will be when we finally breakout
1 Like
Yen has been weakest currency on my SW rankings since Sept 15th, but it has been on an uptrend and closing the gap since Sept. 22, with US stocks at all time high and do a pullback, the Yen maybe getting ready to make it’s next coast to coast trip on my SW rankings
Yens coast to coast runs this year
January 3rd Yen was #8
March 22nd Yen was #1
May 8th Yen was #8
August 11th Yen was #1
September 15th Yen was #8
This year the Yen has performed best during stock market pullbacks, with a pullback do I may jump ahead of my SW rankings and ride the Yen up to #1
2 Likes
Damn!!!
Today was a bad day. GBP has been trending down all week.
1 Like
We have a new number 1 but I don’t know about rushing in on a long USDJPY trade, yen has been trending higher against all others except the Dollar, anyway I will be reviewing the charts later looking for a way to use this dollar strength
I think it might be useful/interesting to also rank currencies based of their day to day delta strength change. For example todays delta ranking would compare today’s strengths to yesterdays, yielding the following:
Strong weak delta rankings
- USD 0.02%
- JPY 0.00%
- CHF -0.32%
- EUR -0.45%
- NZD -0.64%
- CAD -0.75%
- AUD -0.80%
- GBP -1.07%
I had put this in a spreadsheet but I can’t attach images because I’m a new user.Anyway, I think this can show some good information like how you were saying earlier the yen could be making a comeback. One drawback is that this chart will definitely be more volatile and could show currencies moving all over the place day to day.
Of course this information can be observed from the existing chart, but having it all plotted out certainly saves time.
Thoughts?
1 Like
