Spreadsheet looks good, often a currency that does well overnight ( US eastern time) in the European session will continue to move up during the New York session, you can increase your odds by only taking daily trades that agree with the longer term trend as on my SW rankings
Good luck
Denis I remember you mentioned this before that the Yen goes from hero to zero (and back) regularly. Do you attribute this solely to the inverse correlation to US stocks?
Sorry, not much to talk about this week, market continues to consolidate and countertrend trades are trying to pull us in, Best traders know when to sit on the sideline and this might be one of those times, If you do trade, have a good plan for taking profit and cutting lose
You nailed it, sometimes central banks can also cause this but the norm of the yen has been to move in an inverse relation to US stocks, As US stocks are currently at very overbought levels, a pullback seems due, and that should help Yen strength
As talked about in my video, as a non SW trade, I like shorting AUDJPY here
Not a lot happening here, Pound did have a good day, My Top SW Trades are countertrend, so beware these could reverse back in direction of longer-term trend at any time
Good day for Euro, we have a new Top SW Trade, Short NZDUSD, but as I have said before, it is less about dollar strength and more about everyone else just pulling back after a good run.
Top SW Trade from September 14th may be back in play, GBPNZD gave us a high of 191 pips on its first full day as top trade but has been up and down since. We are again seeing the up swing and with NZD back at #8 and GBP just one good day away from reclaiming the top spot, this trade could be reborn
Has YTD Top Trade EURUSD fund support at 1.1700 and now ready to resume its uptrend. USD is a very weak #1 on my SW rankings, If USD moves back down the rankings shorting USD against Euro would be a good play
I feel like a broken record, market keeps consolidating, we did get a pretty good move in EURUSD
Pound regains the top spot but consolidation continues
I am watching EURUSD, after a 4 day up move price stopped dead at the 4hr 200 ma. I am not seeing any kind of a reversal candle on any time frame, so this looks like a normal market pull back and I would expect price to resume its up move this time breaking past the 200 ma
Another week, same story, markets continue to consolidate. Don’t force it, if the trade is not there be patient we will have more good runs in do time
Top SW Trade USDCAD did give us a +74 pip move today, but then reversed and is giving us a bearish pin bar reversal. The rest of the market remains in this unnatural tight consolidation, I have looked at my charts going back to beginning of 2016 and cannot find a period where market is this tight
Did we just see the end to market low volatility, Big surge higher today in all Yen pairs as DOW blows past 23,000
I hope you took my warning on the pin bar reversal in USDCAD, We have another Top SW Trade USDCHF, this is not one I normally trade but chart is looking good, we have a clear double bottom and now price is trying to break through the 200 ma, we get above that moving average and this has room to run, and the CHF peg to the Euro seems to be over
New Zealand got killed today, moving the USDNZD back into the Top SW Trade, but this is not a new signal as USDNZD was a Top Trade back on October 10th, but as you can see by chart below we had a big pullback then today’s move but the trade on the positive side
Here is a wild one for you, GBPNZD was my Top SW Trade back on September 14, hit a high of +192 pips, has zig zag in and out of the profit zone for the past month and with today’s dive in the New Zealand dollar, GBPNZD has hit a new high of +232, that from a pair that is currently 7th and 8th on my SW rankings
this is a wild an unpredictable market, but my Top SW Trades more times than not find a way to win
We might be finally breaking out of this consolidation, US Dollar looks to be the leader in this move so that is how we will play, Head and Shoulder top in EURUSD could be a big player in this Dollar strength
Here is my weekly review of my Top Strong Weak Trades
Strong day for the yen as the market once again tightens, Top SW Trade NZDUSD move lower before pulling back giving us a new pip total of +138
