One short position with a traling stop is still open since last week. See for more information my weekly reviews on my strategy pubished in the last 2 weeks. The AUD is at the moment the weakest currency with a score of 1 and the USD is a stronger currency with a score of 7. See for more information about the score at the start of the week my weekend article: Weekly Currency Score Wk05
Possible positions for this week
The EUR/GBP looks interesting for going short but more confirmation is needed to conclude that the current pull back has come to an end. The pair is now within the Weekly Bollinger Band and looks interesting also for that reason because it is no more oversold. The currency score of the EUR (3) and the GBP (6) did not change since the start of the week and remains interesting also.
FxTaTrader Forex weekly ranking
and rating Wk05 / Update Tue. 03-Feb-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 meanul 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.
