(binned per thread starter's request) Currency Strength with cont

what this buy activated by your cot reports or something other personal touch you put on the strategy? My USDCHF Long wasn't triggered yet, the UDSCHF Line Break chart on Tradingview didn't cross the 50 line yet and the Candle Chart didn't cross the 70 line yet. I'm still waiting for one of those to happen before I enter.

I long when it oversold in H1/H4 as stated in post #454

Quite true. But I wish I had the kind of money to tolerate that kind of loss! Anyway yes losses are part of the game as long as one's wins outweigh ones losses!

Better luck on the next one. I don't think that there is any recovery in sight I'm afraid. CHF is flashing bright green

Thanks for sharing your live trade with us though. It would nice if we all could do the same. I will from tomorrow

Was gauging the pullback on H1/H4 using MT4 RSI or Tradingview RSI (2, hlc3)?

There is a lot of money flowing into the CHF... Especially from the NZD.. Been out all day so missed a few trades even though they go against the contrarian method.

I use Stochastic.

We are in a conundrum aren't we...I understand your approach Jason, and my assessment was the same, but PA has not agreed with that. I agree with BoJack/JMTini as well in using RSI(2) as Neil has suggested. Does RSI override the other data? Is it weighted more? I've stated here before about how to make sense of this contrarian approach, given the data to use (CoT vs mybxbook vs ScorpionFX vs Gold/USD, etc. And on the surface it seems to make sense given what we know about how banks work. Simply comparing them doesn't appear to work. PA is king! and in this instance USDCHF doesn't appear to be turning around any time soon. As we understand how the banks work in taking out all of the shorts, will our contrarian analysis play out? I'm sure it will over time, but then was it "just" time or was it market manipulation finally found a bottom to start buying as we first thought? Questions...questions. I'll be waiting this one out.

Edit: Finding a good source of measuring Money Flow would be a vital piece of this. Currently, if in question as to where a pair is going, I'll look at the individual currencies...not exactly money flow, but gives me another view into strength of one over the other. I'd be interested in knowing how Neil is getting his Money Flow info.

That would be awesome to pick his brains on that one.

You want purely price based currency strength meter. Most of, if not all the currency strength indicators on forex factory are based on a lagging moving average.

You want a pure price based one.

But just because the EURO is high and USD low doesn't mean the Euro is rising against the USD.

You need to see if money and the more the better is flowing in to it.

EUR has 78% (high) and USD has 14% (low) current-index (ie. EUR is strong and USD is weak)

Now to find where the money is flowing you need another rating.
EUR has 84% (high) and USD has 91% (high) agility-index (ie. both of them are agile)

So there is money flowing though them. As the EUR is strong in strength and agility it will rise.
The USD is weak and has a high agility rating so as it's weak money will flow out of it.

So the EUR/USD will be an excellent trade. (This is an example)

I found one for MT4 and been testing it. I always test things before posting them.

It is a paid indicator and I am in no way affiliated with them but the owner is a very nice and friendly person.
https://donforex.com/currencyactivity.php

Yesterday all the money was flowing out of the GBP. It takes a bit of getting used to though and you won't find awesome trades every day like the GBP/NZD yesterday.

Yesterday the money flowed from the pound to the New Zealand Dollar.. Then most of it went back into the pound.. After a few hours all the flow went from the Pound back in the New Zealand Dollar. See the screenshot I took a few hours a part. See yesterday GBP/NZD daily candle.

The AUD also had large money flow but I concentrated and traded the GBP/NZD.

There you go. I'm interested!

Hanover created a good strength indicator and its based on PA, no MA calculations. It's very customize and its working pretty well for extra confirmation so far.

He has a thread somewhere here on FF where you can download it.

But you still need money flow info... Right now it's going from the NZD to the CHF - Don't know when it started as been out all day and just noticed. Arghhhhhhh LOL

P.S I told you I'd make the USD rise against the CHF in earlier post.. Why did I do that. Arghhhhhhh

Edited comment as not relevant now :-)

Thanks for all that you do here Neil, I would be interested in the money flow indi

Hi Neilgroom

thank you very much to share everything with us. i would be interested in the moneyflow indi...i think it's the missing part to understand really which trade is the best.

i hope to have news from you

Hi Neilgroom,

Im just learning the method described in this thread.
Can you PM me the info about the moneyflow indicator, so I can check it out. thx,

Regards

I'll just leave this here...

Edited comment as not relevant now

I hope all is well. Keep in touch.

Take care my friend....great info you shared that may come into play with my system in the future.

Dave