Dentalfloss
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A tad out with supports
Best Thread Correlation Trading - Basic Ideas and Strategies
Dentalfloss
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busy with other things
Dentalfloss
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Will it get bought..??
NVP
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Forex Diary 15th May 2020
slow morning ...
usd rangy.....GBP Bear , Yen , CAD , Euro Bull
so far had scalps selling into GBPUSD earlier.....
will get heavier on UCAD sells / EU buys /UJ sells if USD bear phase extends
for the Week so far USD.Eur , CHf are Bull Alphas ..all struggled overnight
GBP solid alpha Dog Bear .....130 pips down for week but bouncing along strong Resistance line after weak overnights
Will it rally today ? .....not from current signals london
N
slow morning ...
usd rangy.....GBP Bear , Yen , CAD , Euro Bull
so far had scalps selling into GBPUSD earlier.....
will get heavier on UCAD sells / EU buys /UJ sells if USD bear phase extends
for the Week so far USD.Eur , CHf are Bull Alphas ..all struggled overnight
GBP solid alpha Dog Bear .....130 pips down for week but bouncing along strong Resistance line after weak overnights
Will it rally today ? .....not from current signals london
N
Dentalfloss
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Dead cat bounce or a new uptrend.?
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An inkling of buying
An inkling of buying
NVP
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its Video Time ...last weeks action and other things
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NVP
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Forex Diary 18th May 2020
hey guys
ok start to week.....from 6am GMT
GBP main push out Bull ....to 30+ pips so far from 6am
USD flatish & not still picking a Bull/Bear Team for day
sells on Yen / EUR/CHF to low -20 pips
E/G sells a very good mover so far .....a few bucks buying Cable for USD pair lovers (like me)
N
hey guys
ok start to week.....from 6am GMT
GBP main push out Bull ....to 30+ pips so far from 6am
USD flatish & not still picking a Bull/Bear Team for day
sells on Yen / EUR/CHF to low -20 pips
E/G sells a very good mover so far .....a few bucks buying Cable for USD pair lovers (like me)
N
NVP
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Jut wanted to share a recent conversation from someone using my original Free FXCorrelator indicator and the New FIXStart one ......
.the fixstart has a slightly different purpose but jn effect does the same thing.....the way I use it is that as soon as a currency is displaying significant bull or bear direction I can trade it in that direction......based in its relativity to other currencies .....the difference between the 2 is that i can be much more exact with my fixstart.......and I need that for scalping .....remember the fixstart is pretty much accurate to a few pips whereas the fxcorrelator is. It pip based in its read outs .....just relative strength....
The principles behind the fixstart indicator are not that different to using it on a normal pair.......so perhaps that helps in framing the answer......let’s say you were looking at a clean pairchart....say gbpusd on a daily chart......my first question is ....is the price bull or bear ?....is there a trend ?
How do you measure it ?
No matter how you look at it your eyes are automatically seeking several reference points ....and that inevitably leads you to self fit a trend line ......leading to an oldest bar in the chart ....whether you like it or not you will identify a start bar in your definition of bull or bear......unless you decide its ranging .......
Using Fibonacci is probably the simplest example .....a fib always needs a reference start. Point ......so that’s what you would use as the start on a normal chart ....for fixstart......and you have then determined the size of the bull or bear move in the process.....
If you used the example above on fixstart you are actually going more into the next level of using the indicator that I haven’t covered yet .....EVENT BASED SIGNALS.....thats where you ignore traditional start times .....like the first bar of a weeks trading .....or 6am to determine the start of European session (or around that time)......or the start of each month or year for daily timeframe etc etc.....
This is a fascinating process.....where generally a big event jn currencies or just one currency is then used to start off a new fixstart zero point to see what happens next and determine trends from that point and nothing else .....
As traders we are constantly seeking reference points to determine whether we can see a pattern or a trade opportunity .....and the reason we all do different things is because we are all looking at the market jn many different ways and also timeframes.......let’s say you decided to look back 50 bars on every timeframe .....it would be rare to see a net bull move in all charts from 1 min up to 1 day....because the only really timeframes that matter are the ones you trade in.....perhaps a higher one for main trend and the trigger one for confirming entry ....the rest dont matter
So in answer to your question .....use the fixstart however you want ....and to answer the question for you ....is my currency bull or bear ?.....what reference point is important to me ?....are there enough bars in the chart to date to make this relèvent for me ?.....are there now TOO MANY bars jn the chart to make this a clear picture and may be i need to seek a more recent reference point ......
It’s all subjective .....that’s why trading is such a difficult business.....so,find some rules and stick to them ...
Here’s another way of looking at it ......and how I trade daily sessions
1) ignore Asian session ....but be aware of anything significant that happened in session regarding currencies .....
2) start from 6am gmt for London session ......and let it percolate for at least an hour .......let the pip levels tell you what’s moving .....don’t really start biting on trends until currencies are breaching at least 10 pip levels bull or bear .......and then start taking scalps .....maybe !!....remember there’s plenty if time in a session ...don’t get rushed into silly trades.....that’s how people,lose lots of money ....be patient
3) post 11am market is drifting into limbo period pre us opens.....so unless big news is anticipated then market will slow down and London am session is over ..... now you have a dilemma .......let the fixstart keep,running into us session and trade the historical bulls and bears from London session ......OR fire up a new fixstart an hour if so before us Dow session opens ...so,around 8.30 EST or equiv GMT......
I generally have both running ......I can then see the markets moves relative to London open time ....but also the aggression of the fresh us dow open market .....
If i,am seeing a currency displaying bull in both that’s perfect.....no hesitation that I’m still trading it on pullbacks .....
If we are seeing strong conflicting directions ....then I will,stay out in that currency....I may take one trade or so to test it ...but otherwise why take risks ??? ...only use that currency as the secondary pairing against something that is giving consistant signals ...and you use the conflicting currency as a bull or bear based on its us open bias .....
Can you see how deep and fascinating this can get ?......
But step back and see how much depth and analysis you are now doing on the forex G8 market structure .....you are light years ahead of others who are looking at one favourite pair and blindly hitting a favourite pattern to trade.....crazy !!!
That’s why this gets traders so,much closer to being the 3% of traders who make consistent profits.....just add a solid entry signal and only take the best signals ...good money management , good exit strategy and patience and concentration.......and you will be a profitable trader .....over time
Hope this helps .....one answer can it fit all......trading is very subjective ....
In the situation described above.....if you are trading 1hr charts as bearish and 5 mins are bullish ..... then there is probably a strong. Setup coming on 5 mins to resell into 1 hour trend......generally one uses a higher TF to determine the trend ..and a,lower TF to. Pull back and then trade back into the trend ......
You can do this 2 ways on the ma fxcorrelator .....
Use similar ma setting on 2 TFs.......so perhaps a 20 ma on a 5 min and a 20ma on a 1 hour ......or whatever setting you want .....eg 7ma in both ...whatever
Or use a fast ma and a slower ma in the same timeframe ....so in the above you could put a 20ma in a 5 min then have a 12 x 20 = 240 ma on another 5 min chart ....they are just about the same setting .... except the 5 min charts version gives more accuracy due to more bars being used vs the 1 hr TF chart ....
I hope this all helps ......my thread (HERE) on the trade2win forum is now some 23,000 posts and has had over 2.5 million views .....it’s 11 years of discussions covering so many aspects of strengthmeter trading with some amazing traders contributing along the way ....so it’s crazy to ask people to read it all .....in the signature area of every post you can see some links ...these are to free indicators and important posts so I hope that helps ...
I have promised to publish a book and a trading course one day .....but other work and my trading schedule make it hard to fit that in .....but I will do it .....I promise !
I have resisted this for many years as I see so many failed traders just selling expensive courses and not adding value ........and when I launch I want it to be useful to people ...
Take care ....N
The original ma Fxcorrelator is a rolling indicator that never has a start date,,,,,that’s why it’s so powerful......you look at indicator and based on the settings you always know what indicator is bull..what is bear and their relative strengths ...
.the fixstart has a slightly different purpose but jn effect does the same thing.....the way I use it is that as soon as a currency is displaying significant bull or bear direction I can trade it in that direction......based in its relativity to other currencies .....the difference between the 2 is that i can be much more exact with my fixstart.......and I need that for scalping .....remember the fixstart is pretty much accurate to a few pips whereas the fxcorrelator is. It pip based in its read outs .....just relative strength....
The principles behind the fixstart indicator are not that different to using it on a normal pair.......so perhaps that helps in framing the answer......let’s say you were looking at a clean pairchart....say gbpusd on a daily chart......my first question is ....is the price bull or bear ?....is there a trend ?
How do you measure it ?
No matter how you look at it your eyes are automatically seeking several reference points ....and that inevitably leads you to self fit a trend line ......leading to an oldest bar in the chart ....whether you like it or not you will identify a start bar in your definition of bull or bear......unless you decide its ranging .......
Using Fibonacci is probably the simplest example .....a fib always needs a reference start. Point ......so that’s what you would use as the start on a normal chart ....for fixstart......and you have then determined the size of the bull or bear move in the process.....
If you used the example above on fixstart you are actually going more into the next level of using the indicator that I haven’t covered yet .....EVENT BASED SIGNALS.....thats where you ignore traditional start times .....like the first bar of a weeks trading .....or 6am to determine the start of European session (or around that time)......or the start of each month or year for daily timeframe etc etc.....
This is a fascinating process.....where generally a big event jn currencies or just one currency is then used to start off a new fixstart zero point to see what happens next and determine trends from that point and nothing else .....
As traders we are constantly seeking reference points to determine whether we can see a pattern or a trade opportunity .....and the reason we all do different things is because we are all looking at the market jn many different ways and also timeframes.......let’s say you decided to look back 50 bars on every timeframe .....it would be rare to see a net bull move in all charts from 1 min up to 1 day....because the only really timeframes that matter are the ones you trade in.....perhaps a higher one for main trend and the trigger one for confirming entry ....the rest dont matter
So in answer to your question .....use the fixstart however you want ....and to answer the question for you ....is my currency bull or bear ?.....what reference point is important to me ?....are there enough bars in the chart to date to make this relèvent for me ?.....are there now TOO MANY bars jn the chart to make this a clear picture and may be i need to seek a more recent reference point ......
It’s all subjective .....that’s why trading is such a difficult business.....so,find some rules and stick to them ...
Here’s another way of looking at it ......and how I trade daily sessions
1) ignore Asian session ....but be aware of anything significant that happened in session regarding currencies .....
2) start from 6am gmt for London session ......and let it percolate for at least an hour .......let the pip levels tell you what’s moving .....don’t really start biting on trends until currencies are breaching at least 10 pip levels bull or bear .......and then start taking scalps .....maybe !!....remember there’s plenty if time in a session ...don’t get rushed into silly trades.....that’s how people,lose lots of money ....be patient
3) post 11am market is drifting into limbo period pre us opens.....so unless big news is anticipated then market will slow down and London am session is over ..... now you have a dilemma .......let the fixstart keep,running into us session and trade the historical bulls and bears from London session ......OR fire up a new fixstart an hour if so before us Dow session opens ...so,around 8.30 EST or equiv GMT......
I generally have both running ......I can then see the markets moves relative to London open time ....but also the aggression of the fresh us dow open market .....
If i,am seeing a currency displaying bull in both that’s perfect.....no hesitation that I’m still trading it on pullbacks .....
If we are seeing strong conflicting directions ....then I will,stay out in that currency....I may take one trade or so to test it ...but otherwise why take risks ??? ...only use that currency as the secondary pairing against something that is giving consistant signals ...and you use the conflicting currency as a bull or bear based on its us open bias .....
Can you see how deep and fascinating this can get ?......
But step back and see how much depth and analysis you are now doing on the forex G8 market structure .....you are light years ahead of others who are looking at one favourite pair and blindly hitting a favourite pattern to trade.....crazy !!!
That’s why this gets traders so,much closer to being the 3% of traders who make consistent profits.....just add a solid entry signal and only take the best signals ...good money management , good exit strategy and patience and concentration.......and you will be a profitable trader .....over time
Hope this helps .....one answer can it fit all......trading is very subjective ....
Alpha = most strongest or most weakest currencies the time .....so if yen is the strongest line in a fixstart or a ma based indicator ...it’s Alpha Bull .....if gbp is weakest in a chart it’s the alpha bear.......many times you get a couple that are close together so I generally group them together as joint alphas etc etc ....
As already described .....you have to decide what timeframe you are trading ........markets are fractal .....and all work if you look hard enough.....
In the situation described above.....if you are trading 1hr charts as bearish and 5 mins are bullish ..... then there is probably a strong. Setup coming on 5 mins to resell into 1 hour trend......generally one uses a higher TF to determine the trend ..and a,lower TF to. Pull back and then trade back into the trend ......
You can do this 2 ways on the ma fxcorrelator .....
Use similar ma setting on 2 TFs.......so perhaps a 20 ma on a 5 min and a 20ma on a 1 hour ......or whatever setting you want .....eg 7ma in both ...whatever
Or use a fast ma and a slower ma in the same timeframe ....so in the above you could put a 20ma in a 5 min then have a 12 x 20 = 240 ma on another 5 min chart ....they are just about the same setting .... except the 5 min charts version gives more accuracy due to more bars being used vs the 1 hr TF chart ....
I hope this all helps ......my thread (HERE) on the trade2win forum is now some 23,000 posts and has had over 2.5 million views .....it’s 11 years of discussions covering so many aspects of strengthmeter trading with some amazing traders contributing along the way ....so it’s crazy to ask people to read it all .....in the signature area of every post you can see some links ...these are to free indicators and important posts so I hope that helps ...
I have promised to publish a book and a trading course one day .....but other work and my trading schedule make it hard to fit that in .....but I will do it .....I promise !
I have resisted this for many years as I see so many failed traders just selling expensive courses and not adding value ........and when I launch I want it to be useful to people ...
Take care ....N
Last edited:
NVP
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Forex Diary 22nd May 2020
nice morning so far.......
GBP Alpha Sell ...to 30 pips south so far
EUR,AUD,CAD sells as well
Solid USD Bull , with Yen NZD CHF
im all over Cable selling like a rash ......ok so far
Weekly positions show Yen and USD fading off strong earlier sells in week
so we are trading against trend so far today
nice morning so far.......
GBP Alpha Sell ...to 30 pips south so far
EUR,AUD,CAD sells as well
Solid USD Bull , with Yen NZD CHF
im all over Cable selling like a rash ......ok so far
Weekly positions show Yen and USD fading off strong earlier sells in week
so we are trading against trend so far today
NVP
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ok long morning ...i continued hitting cable sells ....for previous reasons given
see the charts and see why i was on that pair ?......
EU sells were interesting as well .......2 good pair options to trade
so many pairs were frustratingly rangy today so far and those following them would have lost money getting pulled out of shape ........But i wasnt on the DUD ones ...i was using my strengthmeter strategies here to get me on the best pairs to trade
N
see the charts and see why i was on that pair ?......
EU sells were interesting as well .......2 good pair options to trade
so many pairs were frustratingly rangy today so far and those following them would have lost money getting pulled out of shape ........But i wasnt on the DUD ones ...i was using my strengthmeter strategies here to get me on the best pairs to trade
N
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Forex Diary week ending 22nd May 2020
Interesting week on the 1 hourly charts
Full selling on USD , Yen and CHF until Wednesday then the brakes came on and they all consolidated .....the 3 horseman displaying carry trade selling into a bullish Equities market no doubt ?.....anyway Yen got down to -230 pips at times ....not too shabby when played off of the bull currencies .....
all the other G5 members were buyable up to wednesday really .......with NZD being the Solid buy right up to closing doors friday night ..... 130 pips gain at its peak
GBP stayed in the pack and CAD was the big play on tuesday .....hitting 130s ....
not an uncommon pattern for a weeks trading ....all currencies go hell for leather until Wednesday and then the music stops......I see it all the time using these charts and they are profitable patterns .....
the top indicator is available for a NHS Charitable contribution here
uk.virginmoneygiving.com
and the 2 others are available for free in the links below
have a great week everyone
Neil
(NVP)
Interesting week on the 1 hourly charts
Full selling on USD , Yen and CHF until Wednesday then the brakes came on and they all consolidated .....the 3 horseman displaying carry trade selling into a bullish Equities market no doubt ?.....anyway Yen got down to -230 pips at times ....not too shabby when played off of the bull currencies .....
all the other G5 members were buyable up to wednesday really .......with NZD being the Solid buy right up to closing doors friday night ..... 130 pips gain at its peak
GBP stayed in the pack and CAD was the big play on tuesday .....hitting 130s ....
not an uncommon pattern for a weeks trading ....all currencies go hell for leather until Wednesday and then the music stops......I see it all the time using these charts and they are profitable patterns .....
the top indicator is available for a NHS Charitable contribution here
Virgin Money Giving | Virgin Money UK
Credit cards, Mortgages, Savings, ISAs, Investments and Insurance – Our quest to make banking better starts here
and the 2 others are available for free in the links below
have a great week everyone
Neil
(NVP)
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Forex Diary 25th May 2020
hey all - Bank holiday in UK
sloooow day expected and i havnt traded .....
look at the chart ...nothing got out more than 19 pips from 6am GMT....thats abysmal
and it was Euro of all currencies.....crazy day
USD was rangy and slow .....moved with yen all day .....
Euro best Bull , CAD and more recently GBP
Yen was best seller to date
looking at the 7ma middle chart you can see 7 plays i may have been interested in as usd swung back into trends
1 good buy signal , 1 bad one
3 good sell signals there from 4 starts ...not bad ....
just hook a decent currency to play off it .......
but not on low volume days like today ...trading is hard enough as it is........... so don't give the market even more of a chance to take your money - Please !
N
hey all - Bank holiday in UK
sloooow day expected and i havnt traded .....
look at the chart ...nothing got out more than 19 pips from 6am GMT....thats abysmal
and it was Euro of all currencies.....crazy day
USD was rangy and slow .....moved with yen all day .....
Euro best Bull , CAD and more recently GBP
Yen was best seller to date
looking at the 7ma middle chart you can see 7 plays i may have been interested in as usd swung back into trends
1 good buy signal , 1 bad one
3 good sell signals there from 4 starts ...not bad ....
just hook a decent currency to play off it .......
but not on low volume days like today ...trading is hard enough as it is........... so don't give the market even more of a chance to take your money - Please !
N
