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

  • #1,101
  • Jul 22, 2018 9:48pm Jul 22, 2018 9:48pm
Quoting Botan626
What I dont understand, is why at this moment, after more than 200 pips drop for USDJPY, most traders are holding longs: {image} And we must remember that {quote} https://www.myfxbook.com/community/outlook/USDJPY
Because they are members of forex factory lol..... I just can't understand it....

Most retail traders win..... They win more trades then they lose actually.. But there losses outway there winners. They close the winners early and keep the losing trades to long.
The most violent element in society is IGNORANCE
  • #1,102
  • Jul 22, 2018 9:51pm Jul 22, 2018 9:51pm
Quoting neilsdigest
{quote} Yes.. It's the tiredness.. I say things back to front when I'm tired LOL........... Even though the USD/JPY dropped hard. It has to rise to fall again.. I'm to exhausted to try and explain it lol;-) XAUUSD has dropped a lot... The JPY index has dropped a bit.... The selling of the USD/JPY rush might be over or just doing a pullback. {image}

Quote
They will wait until retail traders start buying the UJ

Who they? And why retail traders will start buying Uj at this moment and at this price?

I dont want to rush you with answers to these questions, but its really really interesting for me, and you have a lot of experience and knowledge re this as I know, so please take your time to take the rest to give a good A if needed.
  • #1,103
  • Jul 22, 2018 9:56pm Jul 22, 2018 9:56pm
Quoting neilsdigest
{quote} Because they are members of forex factory lol..... I just can't understand it.... Most retail traders win..... They win more trades then they lose actually.. But there losses outway there winners. They close the winners early and keep the losing trades to long.

I came to WCU from FF with no empty hands, and it's more likely I will commit suicide than buy UJ RIGHT NOW.


So their win/rate ratio is big, but net pips gains are negative? Very interesting.
  • #1,104
  • Edited 10:36pm Jul 22, 2018 10:09pm | Edited 10:36pm
hey Neil,

I have been following your WCU thread for a few weeks. joined FF to clear my doubts. when do we know that the price has roofed or floored? yours is the 3% criteria. but if we plot all the WCU pairs in one chart then is the percentage shown applicable to all the pairs?
in the following image is USD is quite strong for few weeks and GBP is just in consolidation at the bottom. so can we long GBP?
Attached Image (click to enlarge)
Click to Enlarge Name: wcu.jpg Size: 143 KB
  • #1,105
  • Jul 22, 2018 10:22pm Jul 22, 2018 10:22pm
Quoting Botan626
{quote} I came to WCU from FF with no empty hands, and it's more likely I will commit suicide than buy UJ RIGHT NOW. So their win/rate ratio is big, but net pips gains are negative? Very interesting.
Botan626 looking on my Mt4 chart going 8 days back on a 1 hour chart this looks like a double bottom maybe indicating a turn going back up don't know for sur but I think we will see in a couple of hours.
  • #1,106
  • Jul 22, 2018 10:23pm Jul 22, 2018 10:23pm
Quoting pipripper85
hey Neil, I have been following your WCU thread for a few weeks. join FF to clear my doubts. when do we know that the price has roofed or floored? yours is the 3% criteria. but if we plot all the WCU pairs in one chart then is the percentage shown applicable to all the pairs? in the following image is USD is quite strong for few weeks and GBP is {image}just in consolidation at the bottom. so can we long GBP?
I'll try and explain it tomorrow night... Europe time.. I can only get on a couple of times a day and seriously need some sleep... It's 05.15 here..

The GBP bottomed.. Hit the floor on Thursday New York session.. I brought the GBP/USD Friday open and closed Friday close.. without doing some quick research I can't tell at the minute if it will keep rising or drop then rise again... The GBP is having a terrible time with the bad news and brexit etc so be careful with it.. I took a risk with it even though it hit the floor and the big boys will buy it... But sometimes they are in and out of trades like hours or just the U'K session etc.. They don't usually have to many trades that last days...

At this time the GBP index is down 0.30% so at the minute it is best to leave it.. Sorry cant help more at the minute but I am even having a hard time writing this. My brain has gone sleep.

If it does hit the floor again just watch what the XAU/GBP does - It should go down - and try and watch the money flow on a lower time frame. Like the 15 or 30 minute chart.
The most violent element in society is IGNORANCE
  • #1,107
  • Jul 22, 2018 10:57pm Jul 22, 2018 10:57pm
Hi Neil, may I ask you about how you use ADX (2) refer this (https://www.forexfactory.com/showthread.php?p=11148903#post11148903) post please? Thanks-
Humble & Kalcker CLO2 = Covid killer
  • #1,108
  • Jul 22, 2018 11:09pm Jul 22, 2018 11:09pm
Quoting Botan626
{quote} {quote} Who they? And why retail traders will start buying Uj at this moment and at this price? I dont want to rush you with answers to these questions, but its really really interesting for me, and you have a lot of experience and knowledge re this as I know, so please take your time to take the rest to give a good A if needed.
https://forexlive.com/news/!/barclays-trade-of-the-week-is-short-usdjpy-20180722

lol

maybe because Trump keeps chatting crap so everyones moving to a safe currency in fear.
  • #1,109
  • Edited Jul 23, 2018 12:27am Jul 22, 2018 11:56pm | Edited Jul 23, 2018 12:27am
Quoting venividivici
{quote} https://forexlive.com/news/!/barclays-trade-of-the-week-is-short-usdjpy-20180722 lol maybe because Trump keeps chatting crap so everyones moving to a safe currency in fear.

Post written by Eamonn Sheridan - Chief Asia-Pacific Currency Analyst for forexlive...
I'm glad I'm a natural and don't believe shit that is written. Banks don't give out trade info.... If they do, it's fake. So go the other way...
Research, research... You don't believe an ANALYST who works for a website.... If he was a good ANALYST he would be rich and not work for some crap website/publication. Retail mentality again. They believe what they see and here... You MUST stop that.

Is that at the same time you unsubscribed.... All this was crap and it was just because of traders going to the safe haven.... The trade was set on Thursday not today when they where..

Insert swear word here !!! LOOOOOOOOK the mean price is special on the USD/JPY - Funny how trump always talks crap when it gets there and it drops. Silly Billy
Attached Image (click to enlarge)
Click to Enlarge Name: TrumpTalksAtThe MeanPrice.png Size: 163 KB
The most violent element in society is IGNORANCE
  • #1,110
  • Jul 22, 2018 11:57pm Jul 22, 2018 11:57pm
Quoting jusiur
Hi Neil, may I ask you about how you use ADX (2) refer this (https://www.forexfactory.com/showthread.php?p=11148903#post11148903) post please? Thanks-
I will explain that tomorrow.. ;-)
The most violent element in society is IGNORANCE
  • #1,111
  • Jul 23, 2018 12:24am Jul 23, 2018 12:24am
Quoting neilsdigest
{quote} I will explain that tomorrow.. ;-)
my mind is boggling at the moment. when i add all the wcu currencies and choose percentage, its really difficult to know which currency is at what %. it just changes while moving .
is roof and floor actually S/R levels?
  • #1,112
  • Jul 23, 2018 1:00am Jul 23, 2018 1:00am
Quoting neilsdigest
{quote} Will you explain how to choose counter currencies correctly - I will when I get a chance... Usually 80% of the time if I get a currency hitting the floor or roof, I pair it with the USD to trade it.. 1: Its the most traded currency and 2: I have no idea why it always works with the USD but for some reason it does. If I say find that the CHF has hit the floor and pair it with the USD and the USD is strong... The USD/CHF goes down. Its amazing how it works.. Yes, some of the charts you do look pretty LOL.... You have to add them all though...
Maybe the reason that USD is the "best" to pair is in this pie chart - The largest 6 pairs all have USD in them.
If you summarise all the pairs, then USD + EUR- + JPY + AUD + GBP + NZD + CAD (the top 7) comprise 85% of the total traded FX.
Outside of the top 7 listed, the additional currencies are so minor. Why add in MXN, CHF, etc at all?
Attached Image (click to enlarge)
Click to Enlarge Name: Most liquid fx pairs 2018.JPG Size: 54 KB
  • #1,113
  • Jul 23, 2018 1:57am Jul 23, 2018 1:57am
Quoting neilsdigest
{quote} Post written by Eamonn Sheridan - Chief Asia-Pacific Currency Analyst for forexlive... I'm glad I'm a natural and don't believe shit that is written. Banks don't give out trade info.... If they do, it's fake. So go the other way... Research, research... You don't believe an ANALYST who works for a website.... If he was a good ANALYST he would be rich and not work for some crap website/publication. Retail mentality again. They believe what they see and here... You MUST stop that. Is that at the same time you unsubscribed.... All this was...
Neil I unsubbed because im getting too many PM's from people on this thread so i want to lay low for a while lol.

Before I do leave for a while.. I hope these tools can help further Neil.

https://fxssi.com/tools/

Its hard saying no to people who need help but its too much sometimes
  • #1,114
  • Jul 23, 2018 3:35am Jul 23, 2018 3:35am
ok now, totally confused with my head throbbing.
in the chart one i have set to scale all to the right and get JPY as very strong and GBP as very weak

Chart 1
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 170 KB


in chart 2 i have only scaled the NZDWCU to the right and rest to no scaling and in that JPY is strong but WCUUSD which is USD is weak. what is happening neil?

Chart 2
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 213 KB
  • #1,115
  • Jul 23, 2018 4:33am Jul 23, 2018 4:33am
Quoting neilsdigest
{quote} I'll try and explain it tomorrow night... Europe time.. I can only get on a couple of times a day and seriously need some sleep... It's 05.15 here.. The GBP bottomed.. Hit the floor on Thursday New York session.. I brought the GBP/USD Friday open and closed Friday close.. without doing some quick research I can't tell at the minute if it will keep rising or drop then rise again... The GBP is having a terrible time with the bad news and brexit etc so be careful with it.. I took a risk with it even though it hit the floor and the big boys...
Neil,

Please take a bow to your Selfless service and Generosity...
  • #1,116
  • Jul 23, 2018 4:39am Jul 23, 2018 4:39am
Quoting neilsdigest
{quote} I'll try and explain it tomorrow night... Europe time.. I can only get on a couple of times a day and seriously need some sleep... It's 05.15 here.. The GBP bottomed.. Hit the floor on Thursday New York session.. I brought the GBP/USD Friday open and closed Friday close.. without doing some quick research I can't tell at the minute if it will keep rising or drop then rise again... The GBP is having a terrible time with the bad news and brexit etc so be careful with it.. I took a risk with it even though it hit the floor and the big boys...
Neil,

You mentioned watching XAUGBP when WCUGBP hits the floor. I am missing the significance.

When you get a chance, could you please give a detailed post about Money Flows and how we can utilize it as a confirmation?

Thanks
  • #1,117
  • Jul 23, 2018 6:47am Jul 23, 2018 6:47am
Quoting pipripper85
ok now, totally confused with my head throbbing. in the chart one i have set to scale all to the right and get JPY as very strong and GBP as very weak Chart 1 {image} in chart 2 i have only scaled the NZDWCU to the right and rest to no scaling and in that JPY is strong but WCUUSD which is USD is weak. what is happening neil? Chart 2 {image}
. You need to change your time frame to a Daily instead of hourly unless you only want to be in a trade for a short time.
  • #1,118
  • Edited 7:14am Jul 23, 2018 6:58am | Edited 7:14am
Quoting pipripper85
ok now, totally confused with my head throbbing. in the chart one i have set to scale all to the right and get JPY as very strong and GBP as very weak Chart 1 {image} in chart 2 i have only scaled the NZDWCU to the right and rest to no scaling and in that JPY is strong but WCUUSD which is USD is weak. what is happening neil? Chart 2 {image}

Hi there!

Do you understand what Percentage Scaling means? The percentage from what it shows?

Now let's have a look: TV Scaling Options (https://www.tradingview.com/wiki/Scaling_Options)

Attached Image (click to enlarge)
Click to Enlarge Name: TV % scaling.png Size: 13 KB


So as long as you will be scrolling your charts left and right or depending on the width of your screen you will see different percentage every time. What's the point then? Looks just as a useless TV feature.

In my opinion its the right choice to have Auto Scale for the main WCUUSD chart only and No Scale for the rest of charts. No problems with scrolling at all.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 422 KB


Notice how neat this layout looks.
  • #1,119
  • Jul 23, 2018 7:21am Jul 23, 2018 7:21am
Quoting silverau
{quote} Maybe the reason that USD is the "best" to pair is in this pie chart - The largest 6 pairs all have USD in them. If you summarise all the pairs, then USD + EUR- + JPY + AUD + GBP + NZD + CAD (the top 7) comprise 85% of the total traded FX. Outside of the top 7 listed, the additional currencies are so minor. Why add in MXN, CHF, etc at all? {image}
Ok that's it..... Have you read about the WCU. NO.... I give up... Why add in MXN, Chf etc.... Jeeeez.

SHOUTING HERE.... MY PM'S ARE BLOCKED FOR A REASON... PLEASE DO NOT PM OTHER MEMBERS HERE ABOUT IT .. venividivici has kindly been posting in the thread and has it sorted the best way to use it... But please don't PM him about it or ask questions.. It not fair on these members to bug them.

Nothing here from now on will be posted about trading the WCU and the roof, floor technique... It will be posted in the WCU thread and closed to comments.. Only if you are a red member.
The most violent element in society is IGNORANCE
  • #1,120
  • Jul 23, 2018 7:38am Jul 23, 2018 7:38am
Quoting neilsdigest
{quote} Only if you are a red member.
That will be very unfortunate, bc I won't be able to participate in discussion (and the likes to D@v1t theoretically could, but it's obviously he don't have a clue). Maybe just having a bigger ignore list xD?
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