FX weekly ranking and rating Wk03 / Sun. 18-Jan-2015. Analysis on 4 time frames with the Ichimoku & MACD indicator
For this reason some pages on the website have been updated.
The following pages have been updated:
FxTaTrader Strategy
FxTaTrader Forex Ranking & Rating list
Stop loss settings
Besides the Ranking and Rating list provided here I will also prepare this weekend the Weekly Currency Score list which will support my analysis for trading in the coming week which is then followed by my Review on the Hybrid Grid strategy.
When looking at the Top 10 in the Weekly Ranking and Rating list we can see that for the coming week the following stronger currencies are well represented: CHF(7x), USD(2x) and the NZD(1x). The EUR(3x) is clearly the weaker currency followed by the CAD(2x). Although the CHF is well represented as the strongest currency it is in my opinion not the currency to trade at the moment because of the exceptional event last week. More news about this can be found on many FX websites like FxStreet, Investing, etc.
A nice combination for coming week may be e.g:
- EUR/NZD with the USD/CAD
- EUR/USD with the NZD/CAD (Ranking 14)
The CHF pairs are 7 times present in the Top 10 and leaving just 3
positions available for other pairs. For this reason I added the
NZD/CAD as a nice pair to combine with the EUR/USD. Without the
exceptional move of the CHF the NZD/CAD would be in the Top 10 just
like last week.
These are just a few examples and many other combinations are possible. The mentioned pair combinations can be traded at the
same time
according to the rules of the FxTaTrader Hybrid Grid strategy because
these are all different currencies. By not trading the same currency in
the same direction more than once you may have better chances with
lower risk.
Last week no (pending) orders were placed because the pull back in
the EUR/NZD was too weak. More details on the (possible) traded pairs
will be provided in my strategy article that will also be published
this weekend. The possible positions for coming week for the strategy
will then also be described.
FxTaTrader Forex weekly ranking
and rating Wk03 / Sun. 18-Jan-2015
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 FxTaTrader Weekly Forex ranking and rating list is meaningful data for my Weekly FxTaTrader strategy. Besides this list I also use the Weekly Currency Score which is available once a week on this blog together with my weekly analysis on my 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.
