Simple moving average
Looking at CADCHF, it is dropping = CAD is weaker, CHF is stronger
Looking to sell GBPCAD = GBP needs to be weak, yes, CAD needs to be strong, no
Therefore, at current time, sell GBPCHF will make better move than GBPCAD
Why? GBP is weak, CHF is strong = good move
Of course, keep tight stops as big GBP news soon!!!
Thank you jaystarks for your feedback
Current Top SW Trade GBPUSD* took another step down today taking our pip total well above +200,
and for the benefit of Johnny
Trade entry was on the close of the daily candle on May 3rd @ 1.3572, these numbers of for tracking purposes only, and are not trade recommendations, Trading FOREX involves risk and trades should not be taken without the advice of a professional money manager, The Staff and Management of Trading the Trend with Strong Weak Analysis take no responsibility for any loses that may occur
Yes I had a TP target taken out last night for half the position, almost to the pip of where I thought there may be some support in GBPUSD.
Congrats on the excellent trade! An entry right on the 200MA? I guess there is an exception since it was a top SW trade.
Love the disclaimer ******
Hello Dennis
I am new to the group so i was wondering how often do you update this chart? seems like everyday? also is it posted right in the forum here? so i think you put your tread setup here? just trying to understand the forum. Thank You
Hi Dennis,
Great thing about being on longer term charts are that moves tend to be 1000s of pips, either way there is opportunity to make money. I think there is good +240 Pips for the pair to move downwards before it face any support. Lets keep an eye
Post 1 meaning all the way from the top?
Exactly so ! - This is a valuable insight into the way the whole thing works - well worth a few days of study !
Awesome, might be a weekend project. Thank you
it is called betting against the crowd
European sector took a big hit today, you got to love being short GBP here
Update to GBPCAD trade, we got our break of the 200 DMA, a weak pullback in early Thursday trading, letβs look for price continuation to the downside
big pullback day an look at the Yen poised to take back the # 1 spot, Yen is still the top currency of 2018
Price pulled back today on our GBPCAD* trade, but look how again the 200 ma on the 1hr chart held, the price is either going up or down from here, the market will tell us which and as long as the resistance of the 200 ma holds my bias still remains to the downside