Choppy back and forth market,
We have followed through today in Yen strength, but as I noted yesterday #1 CHF is holding up well and is doing same today, Top SW Trade AUDCHF is up another +50 pips
We had a great week for our Top SW Trades, My rankings rundown includes a week ago Thursday that is the entry signal date to current top trade AUDCHF* and boy has the last three days been great, our other top trade GBPCHF* after giving us +180 pips looks ready to head lower. Just stay out of those Yen trades and we are rocking it
Here is another great example of the power of the 200ma, On Wednesday in the GBPCHF we had that big reversal but look how price pulled back to the 200 ma on the 1hr chart and stop, then on Thursday and Friday price continued its downtrend.
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Top Trade AUDCHF pulls back a bit but top trade GBPCHF takes out +200 pips
Hi Dennis, how long on average do you hold your trades for? Do you aim for 1 target or 2 targets? Thank you
most of the time 2 targets , take profit on half at first target then let the rest run with a break even stop, but this part is all up to you
Thank you for that, I am new to the 2 targets thing but I am learning about it now, is it a case of looking at the nearest support/resistance and then the 2nd target is the following support/resistance or how do you mark up the 1st and 2nd targets if I may ask?
we need to look at what is working as markets change and we must adjust to them, a first target of 100 pips has given us a high win rate, support and resistance are also important area to look for profit taking as well as secondary entry points. this is where your trading plan comes in, how you choice to enter and exit will be different then others. Find what works for you and stick with it
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mild pullback day, a little strength in USD but it has a long ways to catch CHF
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dear Dennis. I have been looking at the currency strength since a week. getting hands on it.
I am using trading view charts and my numbers are very different from yours.
for eg. I used the OANDA NZDJPY chart. the daily close of 4th sept is 73.065 and the 4 Hour 200 MA at 2:30 broker time was at 74.118. so, I get a figure of -1.84
But I see you got a value of -1.97. hows that possible? a bit confused.
thank you and green pips
I’m not Dennis, but I think I can help you.
• Several things could account for differences between your results and Dennis’ results:
(1) if your broker and Dennis’ broker do not report exactly the same prices
(2) if Dennis does not gather his end-of-day prices at exactly the same time that you do
(3) if Dennis’ price series (bid prices, ask prices, average prices, or typical prices) is not the same as yours.
The only other possibilities would be a formula error, or a computational error.
• I used your price and SMA, and Dennis’ formula, and got a result that is different from yours:
Your price = 73.065
Your SMA = 74.118
Rating = (price - SMA) / price
= (73.065 - 74.118) / 73.065
= -0.0144
= -1.44% (not -1.84% as you reported).
Was that just a typo on your part?
• Your NZD/JPY price is slightly different from mine, but your SMA is very different.
You have SMA = 74.118, and I have SMA = 74.41.
Are you using 5 pm New York time (1700 EDT = 2100 GMT) for your closing prices?
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Dear Mr. Clint, thank you for taking the effort to elaborate my post and dissect the issues. I realized that there was a typo. the SMA price was supposed to read 74.4118. Now, i have changed my trading view time to the exchange time(NY time). So, close was at 73.065 and the SMA was at 74.3977. So the value of -1.82 pops up. i used the oanda broker.
as long as you are calculating the strength correctly it does not matter if you data is slightly different. the rank order from your platform will likely be the same
Here is a good example why I do not like using Stop orders for my personal trading, Had you been short GBPCHF and had your stop to tight you could have been taken out of the trade for a loss only to see price move back near where it started the day. Not saying to don’t use stops but they can really hurt your account if not used properly
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Mr. Clint, for SMA I used the NY close time i.e 17:00. but for daily close price i took the price at candle close(daily) i.e midnight. is it correct?
Wild day for the Pound but Euro seems to have won out, EURAUD has a strong trend going, any pair with a spread of more than 2% is worth a look. We currently have 4 pairs that meet that requirement
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what time zone are you using, Daily close is 17:00 period, there is no midnight. Make sure you are using a Forex charting system , a stock charting system that also shows Forex will not have true prices and daily candle does not close until midnight
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Dennis,
Your alligator is moving in a different direction. 
And it looks like he’s gained about 100 pounds.
What are you feeding that critter?
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Prescription: to be taken freely whenever appropriate, for over 18’s only…
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