I'd like to start a separate thread on this topic EUR/GBP Trendmagic System
As we all know any trending system is subject to reversal, it's your friend until it's not. Therefore, using this system we should be in the markets and specific pairs at certain times. At other times the dynamics may make the most advantageous pair to trade something different.
The KG Relative strength indicator-> http://www.forexfactory.com/showthread.php?t=123284
uses tick data to do what the title implies, show the relative strength of every currency.
Notice the GBP is the red line here. It hits the close bottom of the indicator screen 3 times, on the 4thtime I entered this position, because clearly it looks like the weakest currency on the market. USD is the strongest.
At this time we also have a downtrend from the trend magic indicator, and all time frames line up on the MTG indicator. Some nice quick pips here before TP.
Let's talk about strategies for finding the best pairs to use with this system.
As we all know any trending system is subject to reversal, it's your friend until it's not. Therefore, using this system we should be in the markets and specific pairs at certain times. At other times the dynamics may make the most advantageous pair to trade something different.
The KG Relative strength indicator-> http://www.forexfactory.com/showthread.php?t=123284
uses tick data to do what the title implies, show the relative strength of every currency.
Notice the GBP is the red line here. It hits the close bottom of the indicator screen 3 times, on the 4thtime I entered this position, because clearly it looks like the weakest currency on the market. USD is the strongest.
At this time we also have a downtrend from the trend magic indicator, and all time frames line up on the MTG indicator. Some nice quick pips here before TP.
Let's talk about strategies for finding the best pairs to use with this system.
