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Firstly, I get all EURxxx (or xxxEUR) pairs, and get EUR strength.
I do the same for USD (and for the rest of 5 other currencies).
From that, I see individual development of the currency itself.
Then, I am basically interested in which currency is the best gainer and which is worst looser.
..
Very interesting observation. If used correctly this could save Zak and company a lot of work locating good trade setups.
Edit: Endy, you may really be on to something here. From preliminary observation, you can almost trade these currencies when their lines cross each other.
Thanks for the indi and Happy pipping,
__________________ Fx Diva
Last edited by fxdiva; 12-11-2008 at 03:14 PM.
Reason: question
To be honest, "almost" is a very good word here.
Actually, you can trade MA crosses if it would be true, that currencies will always switch their strengthening/weakening.
However you can hit your head against the wall, when trying to trade currencies which switch places 8 times during week.
That's when that other indicator which shows difference between two currencies come in handy.
So, the rule is: I am interested only in 20ema/50sma H1 retracementes of those currency pairs, where strength difference on H4 is bigger than 100 (or smaller than -100). Again, see those EURUSD/GBPCHF samples I provided.
cheers, endy
edit: i'm starting to post too much in here, so will wait for others to contribute to this currency strength thingie, before going on..
Quote:
Originally Posted by fxdiva
From preliminary observation, you can almost trade these currencies when their lines cross each other.
Hi all,
Of course, the most pips were gathered from GBPJPY, because GBP was loosing like a hell (see black line at the bottom of last week).
I took only those signals which are in the direction of the currency strength.
This week, so far EUR is really performing well, so I long it against those currencies that are below 0 line.
So from individual currency strength meters, I made another step and measure combined strength of two currencies, which gives me picture of the given pair.
Would be willing to also share the difference indi? I like the sum.
Christmas has arrived and Endy is Santa. Thanks for posting the indicator. It looks really very useful and from your explanations, pretty easy to follow too.
I have been a bit of a stickler in the past, using the USD as a benchmark to guage overall strengh. You know, the old football analogy I loved so much..
If Euro can beat Dollar (EURUSD bid) and Dollar can beat Yen (USDJPY bid) then Euro can definately beat Yen (EURJPY very bid)
But this takes the thinking and the ploughing through many charts out of it.
Very nice indeed.
Shame on you !! how can I justify asking Santa for 10 more screens?? lol
I'm off to have a little look at this before beddie-bies.
Great work guys. Lovely to see a bit of diversification on here.
Night-Night. x x
__________________ I'm now sending trading notes out twice a day with videos too. Have a look HERE.
There's one set at 6:30 UK time for London and one at 12:00 for U.S session, plus I will send a summary video after each session
So, just to chuck a bit of old fashioned S&R into the mix, having taken off all bar Euro (blue) & USD (red) we can clearly see the CCI support (white)breaking on the USD prior to the cross of the 0.0 with support (yellow) nicely holding on the Euro.
Given the new throw one on and forget about it tactics would it be fair to say we could have been in EURUSD from about 1.3000 ??
Might be worth a little short once the 150/200 levels (pink) get hit on both?
Nice topic of conversation but way past my bedtime.
Definately up for some more research tomorrow.
Adios
__________________ I'm now sending trading notes out twice a day with videos too. Have a look HERE.
There's one set at 6:30 UK time for London and one at 12:00 for U.S session, plus I will send a summary video after each session
I don't have a sterling vs ozzie chart. somebody please tell me that on the 9th of this month there was a big - albeit short lived - move for ozzie and against the pound.
I might be getting the hang of this. Could this be a cue to get rid of charts alltogether or have I got this all tits-up ?
__________________ I'm now sending trading notes out twice a day with videos too. Have a look HERE.
There's one set at 6:30 UK time for London and one at 12:00 for U.S session, plus I will send a summary video after each session
I don't have a sterling vs ozzie chart. somebody please tell me that on the 9th of this month there was a big - albeit short lived - move for ozzie and against the pound.
I might be getting the hang of this. Could this be a cue to get rid of charts alltogether or have I got this all tits-up ?
There was only if you consider 421 pips in 8 hours a "big - albeit short lived move"
There was only if you consider 421 pips in 8 hours a "big - albeit short lived move"
It definitely fits the criteria in my book.......
Are you able to check by how much time the trend line breaks of Pimps CCI graphs preceded the 400 pip move?
I agree thats a big move. I would be very satisfied if I could have caught 25% of that.
Do you (Pimp) see a potential exit indicator out of this new cci correlator?
Certainly looks exciting potential so far, to direct us to the best looking pair / extension to trade
Linear Mode
