The pull back last week in the pair offered a good opportunity to step in. For that reason positions have been opened for this pair based on the analysis described in my article Weekly Review Strategy Wk03. See for an update on these positions my weekend article Weekly Review Strategy Wk04. Profit has been made of 1/4 Weekly ATR on 1 position and another position remains open with a trailing stop.
The CAD is this week the weakest currency with a score of 2 after the EUR at the moment and the NZD is in the middle of the range with a score of 4. See for more information my weekend article: Weekly Currency Score Wk04
AUD/USD: Short
The pull back today offered a good opportunity to step in. Positions have been opened for this pair based on the analysis described in my article Weekly Review Strategy Wk04. The AUD is this week a weaker currency with a score of 3 after the EUR and the CAD and the USD is a stronger currency with a score of 7. See for more information my weekend article: Weekly Currency Score Wk04
Possible positions for this week
At the moment no positions are taken for the FxTaTrader strategy in the CHF pairs, see for more information my weekend articles. The EUR/USD looks interesting but having already a long position on the USD (short AUD/USD) no more long positions on this currency are opened as described for the FxTaTrader Strategy. The EUR/GBP looks also interesting but it is too far outside the Bollinger Band in the Weekly chart at the moment.
FxTaTrader Forex weekly ranking
and rating Wk04 / Update Tue. 27-Jan-2015
Analysis based on TA charts for all the major currency pairs. Good luck to all. No advice, just info. Every week the Forex ranking rating list will be prepared in the weekend. All the relevant Time Frames will be analyzed and the ATR and Pip value will be set.
There will be 2 updates during the week on
Tuesday and Wednesday. The Daily and 4 Hour chart will then be analyzed
and updated.
This makes that there will be no more than 48 trading hours between
each update. This is a reasonable period when considering that the
smallest time
frame used is the 4 hours, meaning 12 price bars/candlesticks.
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The Forex ranking and rating list is meaningful data for my FxTaTrader Hybrid Grid strategy. Besides this list I also use the Currency Score which is available once a week on this blog also together with my weekly analysis on my Hybrid Grid Strategy. For more information on the FxTaTrader Forex Models "Ranking and Rating list" and "Currency Score" visit the following pages on my blog:
Introduction to the FxTaTrader Forex Models
FxTaTrader Forex Ranking & Rating list
Currency score explained
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Although the explanation may seem simple and clear there is
always risk involved. I added a disclaimer to my blog for this
purpose. If you would like to use this article then mention
the source by
providing the URL FxTaTrader.com
or the direct link to this article. Good luck in the coming week.
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DISCLAIMER: The articles are my personal opinion, not recommendations, FX trading is risky and not suitable for everyone.The content is for educational purposes only and is aimed solely for the use by ‘experienced’ traders in the FOREX market as the contents are intended to be understood by professional users who are fully aware of the inherent risks in forex trading. The content is for 'Forex Trading Journal' purpose only. Nothing should be construed as recommendation to purchase any financial instruments. The choice and risk is always yours. Thank you.
