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

  • #2,041
  • Edited 9:37am May 9, 2019 6:54am | Edited 9:37am
Quoting maknil
Hi Neil, {image} As CHF is strong today why such difference in XAU/CHF + and WCU/CHF - . Many times i have seen xau/currency doesnt change fast and one is ++ and other is --. So is it better to follow only WCU/currency for money flow or wait for xau/chf and wcu/chf to align same and then take trade. Thanks, Mak
The CHF is rising today against gold. XAU is just against gold. Best to have them both weak for a sell or both strong for a buy. So if the XAUCHF is rising and WCUCHF is falling. Best to wait.

There is no need to be in trades all the time.. Wait until one good one lines up.

The CHF is rising against the WCU (20 largest national economies measured by GDP) - The CHF (at time of posting) is the second strongest currency today.. As we all know the JPY is the strongest.

As you see now (at time of posting) the XAUCHF is falling (Not much though) and so is the WCUCHF. That tells you the CHF is getting stronger.

There is a post somewhere in this thread that states when the JPY is the strongest currency the market sort of resets itself.. When the JPY weakens it will get back to normal.

One of the reasons why the pivot thread and traders are having a lot of bad trades and going into drawdown.

Its strange how the JPY effects the market in so many ways.

What to watch out for.. Money is going into Gold today. XAUUSD etc.. Could mean the world markets are going to have a bad day with another selloff OR the JPY will now weaken. The big money will go from the JPY into Gold.

It all depends of what the financial markets do today. The Dow Jones (pre-market) is down 0.48% and the market isn't open yet.

Update: You see the CHF goes crazy.... After posting that ;-)

At time of posting

XAUCHF -0.41%
WCUCHF -0.59%
XAUJPY -0.34%
WCUJPY -0.43%

CHF = +100
JPY = +77

See how the CHF rose against the JPY

The JPY is one of two who follow moves in nice waves. Just follow the waves. This is the GBP/JPY wave

One more update and i'll go sleep

CHF now = 124
JPY now = 76

It didnt take a genius to see how strong the CHF was becoming and how the Dow Jones fell 1.50% just after opening.. The money had to go somewhere and it wasnt the JPY for once.. It went into the CHF.
Attached Image (click to enlarge)
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The most violent element in society is IGNORANCE
  • #2,042
  • Edited May 12, 2019 1:42am May 11, 2019 3:17am | Edited May 12, 2019 1:42am
Quoting osjoe2
Myfxbook (https://www.myfxbook.com/community/outlook): Free service provided by myfxbook to show trading volume on currency pairs
NOTE: For updates, please see the new thread (https://www.forexfactory.com/showthread.php?t=915949) I've created. My 24 hour edit time is about to expire on this post.

The app Download_myfxbook_outlook.exe (in the attached zip) is a quick hack that attempts to scrape relevant data from the URL https://www.myfxbook.com/community/outlook and overwrite the csv file myfxoutlook.csv with the latest data. I wrote it for a trader friend, but it's posted here in case anybody else finds it useful.

Zip file:
Attached File(s)
File Type: zip Download_myfxbook_outlook.zip   334 KB | 563 downloads


Either (1) run the app manually, (2) schedule it to run automatically using Microsoft scheduler (free with Windows) at a certain time each day, or (3) call the app directly from your MT4 indicator or EA. Because it runs independently of MT4/5, you can install and run it from any folder you like. There are no entry or confirmation screens, as any pauses during execution would be unwelcome if the app is being run automatically. The app takes less than 3 seconds to run on my PC. If for whatever reason it fails to terminate properly, just right-click on the little green house icon in your systray, and choose 'Exit' (or kill it using Windows task manager).

The csv file will be created in the same folder as the app. It can be imported directly into Excel if you prefer. Its content should look like this:

"EURUSD","Short","65%","29435.62 Lots","89406","Long","35%","16035.76 Lots","51401","18%","97.5","52.5","27","1.1211","-23 pips","1.1376","-142 pips","1.1234"
"GBPUSD","Short","31%","7329.49 Lots","21600","Long","69%","16163.07 Lots","41848","9%","46.5","103.49999999999999","14","1.2965","-35 pips","1.3135","-135 pips","1.30001"
"USDJPY","Short","24%","6859.80 Lots","26559","Long","76%","21904.08 Lots","50503","10%","36","114","16","109.6954","-27 pips","110.6099","-64 pips","109.968"

There is one row (line) for each of the 92 instruments, and the 18 columns (which are separated by commas and enclosed in double quotes) are output in the order shown in the image below:

Image:
Attached Image (click to enlarge)
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As always, download and run at your own risk. The app currently runs fine on my Win7 PC, but your results may differ for reasons I can't possibly know about (but it might have something to do with your internet or firewall settings, or background apps like antivirus or ad blockers; or the myfxbook webpage is temporarily unavailable (for maintenance?); or the csv file is already open/locked elsewhere; etc). Moreover, if the myfxbook developers ever move their webpage, or modify its HTML, then the app will likely encounter data that it doesn't understand, and the results will be unpredictable.

Sorry, but I won't be providing requested fixes or enhancements, nor replying to any questions or comments. I'm not even supposed to be here, remember? And this is the recycle bin, after all.

Time is running short now folks, stay safe and don't forget to floss your teeth.

_______________________________

[EDIT] Just an afterthought: It might be interesting to plot both the % of traders long v short, and also the lot volumes, and observe how these change over time relative to price. Also the average price that retailers are long and short at, and likewise study how this moves relative to price. Unlike the usual price-derived indicators, these values are independent of price, and who knows, they might provide some idea of (imminent) future value. (As we know, potential for bias can exist when value and price diverge sufficiently). Has anybody already tried something like this?

A MT4 indicator could be written to gather the myfxbook data whenever it changes (daily?) and plot these values graphically on a price chart. If I ever get around to writing such an indicator, I'll share it here, but no promises (I guess if I contribute only to the recycle bin, nobody can accuse me of posting for personal or commercial gain, right? lol).
  • #2,043
  • May 11, 2019 10:43am May 11, 2019 10:43am
Quoting hanover
{quote} The app Download_myfxbook_outlook.exe (in the attached zip) is a quick hack that will attempt to scrape relevant data from the URL https://www.myfxbook.com/community/outlook and overwrite the csv file myfxoutlook.csv with the latest data. I wrote it for a trader friend, but it's posted here in case anybody else finds it useful. Either (1) run the app manually, (2) schedule it to run automatically using Microsoft scheduler (free with Windows) at a certain time each day, or (3) call the app directly from your MT4 indicator or EA. Because it...
Hi hanover, I download the app on my Win 7, but it creates a myfxoutlook 0 kb CSV file (empty with no data), any solution for that?
Looking for profitable short term trades ...|
  • #2,044
  • May 11, 2019 11:40am May 11, 2019 11:40am
Quoting Js3mwtRc
{quote} Hi hanover, I download the app on my Win 7, but it creates a myfxoutlook 0 kb CSV file (empty with no data), any solution for that?
Hanover won't answer questions etc about it as he is not here (Like me)

I tested it for you but get all the data.
Attached Image (click to enlarge)
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The most violent element in society is IGNORANCE
  • #2,045
  • May 11, 2019 4:15pm May 11, 2019 4:15pm
Hanover RE: Your edit. That sounds interesting. Very interesting if you ever get round to it.. We hide here in the recycle bin so we don't get so many nutcases LOL

Thanks for your hard work and coming back to visit. Like me i'm not here now ;-)
The most violent element in society is IGNORANCE
  • #2,046
  • May 12, 2019 2:17am May 12, 2019 2:17am
Quoting neilsdigest
{quote} Hanover won't answer questions etc about it as he is not here (Like me) I tested it for you but get all the data. {image}
Shame, I always have questions for older traders and developers, but I read this thread and forum for many years and I have noticed that you don't answer all questions you can ignore me when I post its ok. Anyway the data looks fine too pitty I can't use it. One thing missing thought is the colors and hospitality of my fxbook community outlook page plus the graph data for every pair separately.
Looking for profitable short term trades ...|
  • #2,047
  • May 12, 2019 3:30am May 12, 2019 3:30am
Quoting Js3mwtRc
{quote} Shame, I always have questions for older traders and developers, but I read this thread and forum for many years and I have noticed that you don't answer all questions you can ignore me when I post its ok. Anyway the data looks fine too pitty I can't use it. One thing missing thought is the colors and hospitality of my fxbook community outlook page plus the graph data for every pair separately.
Hanover has made a new thread about it and updates.

https://www.forexfactory.com/showthread.php?t=915949
The most violent element in society is IGNORANCE
  • #2,048
  • May 12, 2019 6:30pm May 12, 2019 6:30pm
Quoting osjoe2
We want THE OPPOSITE direction to what scorpionfx says. As in the example scoropionfx says the AUD/USD will go down through the week.
This is the bit that massively confuses me. We're taking the opposite side of everything Scorpion FX are instructing to do?

For example, this week they're wanting to long AUD/JPY but with this strategy we should be shorting?? (see attached pic).

I'd appreciate it if this could be cleared up for me. Thanks guys!
Attached Image
  • #2,049
  • Edited 8:23pm May 12, 2019 7:52pm | Edited 8:23pm
Quoting MrPipTrading
{quote} This is the bit that massively confuses me. We're taking the opposite side of everything Scorpion FX are instructing to do? For example, this week they're wanting to long AUD/JPY but with this strategy we should be shorting?? (see attached pic). I'd appreciate it if this could be cleared up for me. Thanks guys! {image}
ScorpionFX says AUDJPY BUY...... It also says Do NOT trade against the prevailing market Sentiment. Which we do.

The Market sentiment for AUDJPY on Myfxbook is LONG 90% (90% of traders are LONG AUDJPY) that's why Scorpionfx says go long. It has been since 6th May.. Over 85% long since the 6th May. What has it done. Fell since then with little pullbacks.

So what do you do? Go short. It you shorted after it closed the gap a little after market open you will be up $150 per lot.

Price action determines when to buy and sell under the rules.. You could just sell now and leave it until the sentiment changes but you are already in a downtrend on the JPY and it won't last forever.

The crowd wins sometimes but lose the vast majority of the time.

News: Market shrugs off China tariff hike but awaits talk results.. It could drop or rise now depending on the tariff news.

ScorpionFX and myfxbook.. NZDJPY BUY - AUDJPY BUY.. CHFJPY not on ScorpionFX but a 91% BUY on myfxbook so no trade
I did a demo to test that the NZD AND AUD will do the best out of those three tested on a demo MT4.

Click image to play GIF

P.S I posted here because it makes my psycho stalker crazy on his blog :-)
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The most violent element in society is IGNORANCE
  • #2,050
  • Edited 9:34pm May 12, 2019 9:15pm | Edited 9:34pm
GBPNZD ScorpionFX SELL

GBPNZD Myfxbook 82% SHORT

GBPNZD - Up around 700 points since market open... and this is the worst time of day to trade.

Why do people find it so hard to do?

Just by using scorpionfx and myfxbook and do the opposite you will be up over a thousand dollars in three hours to one lot per trade.. Close now and don't trade for the rest of the week.

That will wake Stimpy up... Check it out Stimpy man. It might surprise you:-)
The most violent element in society is IGNORANCE
  • #2,051
  • May 13, 2019 4:06am May 13, 2019 4:06am
Quoting neilsdigest
GBPNZD ScorpionFX SELL GBPNZD Myfxbook 82% SHORT GBPNZD - Up around 700 points since market open... and this is the worst time of day to trade. Why do people find it so hard to do? Just by using scorpionfx and myfxbook and do the opposite you will be up over a thousand dollars in three hours to one lot per trade.. Close now and don't trade for the rest of the week. That will wake Stimpy up... Check it out Stimpy man. It might surprise you:-)
Thank you very much for taking the time out to clear that up for me.

I always understood the core concept of this I was just slightly confused because of how the post was written, it makes clear sense now though.

Much appreciated mate.

I like how you’re wanting your stalker to see your results, the wittiness reminds me of myself a lot, nothing better than proving the know it alls wrong!
  • #2,052
  • May 13, 2019 5:57am May 13, 2019 5:57am
ScorpionFX + myfxbook pairs for this week so far. Sentiment on myfxbook might change through the week.
If you just traded them without using anything else you determine when to trade. MA'S - Pivots, or whatever you use.

BUY

AUDJPY - 90% LONG
NZDJPY - 95% LONG
USDJPY - 86% LONG
AUDCHF - 86% LONG
NZDCHF - 81% LONG
USDCHF - 51% LONG (no trades)

SELL

GBPAUD - 82% SHORT
GBPNZD - 82% SHORT
GBPUSD - 33% SHORT (no trades)

Contrarian trades.. Go SHORT

AUDJPY -0.56% since market opened
NZDJPY -0.48% since market opened
USDJPY -0.25% since market opened
AUDCHF -0.65% since market opened
NZDCHF -0.57% since market opened

Contrarian trades.. Go LONG

GBPAUD - +0.52% since market opened
GBPNZD - +0.45% since market opened

A total of PLUS 3.48% without using any other method and taking them all blindly and not buying and selling between pullbacks.
Work out the pips Stimpy man.. It will really surprise you.. Might make you fall off your old mans chair !
The most violent element in society is IGNORANCE
  • #2,053
  • May 13, 2019 6:18am May 13, 2019 6:18am
Quoting neilsdigest
There is...... You can see the order flow..... but then again I'm not a retail trader... but my advice is worthless..... Only came on to answer Xmas7 ;-) {image}
Hi, Neil
When you find some free time (just in case), can you help explain your usage/application of Order Flow more in detail? I think that was a Footprint chart. I tried to find value of using order flow tools but it looks it's useful only in very short term scalping. Indeed, many people use it for tick chart based scalping. Can it be useful when it's combined with your WCU strategy? More precisely, I want to know if I can see accurate money inflow/outflow information through this tool....
Thanks,
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #2,054
  • May 13, 2019 7:16am May 13, 2019 7:16am
Quoting neilsdigest
ScorpionFX + myfxbook pairs for this week so far. Sentiment on myfxbook might change through the week. If you just traded them without using anything else you determine when to trade. MA'S - Pivots, or whatever you use. BUY AUDJPY - 90% LONG NZDJPY - 95% LONG USDJPY - 86% LONG AUDCHF - 86% LONG NZDCHF - 81% LONG USDCHF - 51% LONG (no trades) SELL GBPAUD - 82% SHORT GBPNZD - 82% SHORT GBPUSD - 33% SHORT (no trades) Contrarian trades.. Go SHORT AUDJPY -0.56% since market opened NZDJPY -0.48% since market opened USDJPY -0.25% since market opened AUDCHF...
Well played Neil; the original system does work

Cheers.
  • #2,055
  • May 13, 2019 7:37am May 13, 2019 7:37am
Quoting heispark
{quote} Hi, Neil When you find some free time (just in case), can you help explain your usage/application of Order Flow more in detail? I think that was a Footprint chart. I tried to find value of using order flow tools but it looks it's useful only in very short term scalping. Indeed, many people use it for tick chart based scalping. Can it be useful when it's combined with your WCU strategy? More precisely, I want to know if I can see accurate money inflow/outflow information through this tool.... Thanks,
Read this thread first as i'm short on time... (link below) RE: What if you traded when you KNEW sellers are overcoming buyers or when buyers are overcoming sellers? Is there a way of knowing this? Yes, with the use of volume and the powers of supply and demand. All markets are moved by imbalances in supply and demand. You just need to figure out how to read it correctly.

So you new today Sellers would dominate the buyers in these two examples by just looking at what the price was doing.

NZDJPY - 1 lot = £370
AUDJPY - 1 lot = £451

Or over $1,200 from two trades trading 1 lot..

See how the rest are doing and where the money is going. Where are they buying and selling. Big money, the banks, institutional investors go against the crowd the vast majority of the time. They manipulate you in doing things and they then do the opposite.

Read the first two posts in this thread to first understand why and how prices move.. Its not pivots or MA's etc but the volume leads the price. You can see how the money is flowing into the contrarian trades today.

https://www.forexfactory.com/showthread.php?t=916096
The most violent element in society is IGNORANCE
  • #2,056
  • Edited 7:55am May 13, 2019 7:44am | Edited 7:55am
Quoting neilsdigest
{quote} Read this thread first as i'm short on time... (link below) RE: What if you traded when you KNEW sellers are overcoming buyers or when buyers are overcoming sellers? Is there a way of knowing this? Yes, with the use of volume and the powers of supply and demand. All markets are moved by imbalances in supply and demand. You just need to figure out how to read it correctly. So you new today Sellers would dominate the buyers in these two examples by just looking at what the price was doing. NZDJPY - 1 lot = £370 AUDJPY - 1 lot = £451 Or over...
Thank you for the information, Neil!
Btw, my deepest condolence to the pivot factory people who are still holding AUDJPY long position. It's dropping like a rock again now......
It's obvious that's a flawed strategy. History repeats and time will tell....
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #2,057
  • Edited 8:23am May 13, 2019 7:56am | Edited 8:23am
Quoting heispark
{quote} Thank you for the information, Neil! Btw, my deepest condolence to pivot factory people who are holding AUDJPY long position. It's dropping like a rock again now...... It's obvious that's a flawed strategy. History repeats and time will tell....
I can't understand how anyone can go against the JPY at the minute with the China/USA talks and the stock market... They must be crazy.

Just an update on the contrarian trades - Not bad for someone who doesn't know anything - Says Davit and my best mate stalker Stimpy.

7 trades - 7 winners. Plus 5.2 % on all trades.

Why is the JPY so strong again... One of the answers. The Dow Jones is down 1.9% even before the market opens. Where is that money going. Into the JPY again. If the DOW starts to rise the JPY will weaken.
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Attached Image
The most violent element in society is IGNORANCE
  • #2,058
  • Edited May 15, 2019 1:45am May 14, 2019 6:05am | Edited May 15, 2019 1:45am
Don,t know if this rings a bell to some persons?
Attached Image (click to enlarge)
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Please can someone explain to me what would have happened, got this this morning. compared to the above.
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  • #2,059
  • May 16, 2019 10:32am May 16, 2019 10:32am
Looks like the ScorpionFX trades for the pound were right this week.

GBPUSD - running 230 pips
GBPNZD - running 240 pips
GBPAUD - running 195 pips

Oh well, onto the next
  • #2,060
  • May 16, 2019 2:39pm May 16, 2019 2:39pm
Quoting MrPipTrading
Looks like the ScorpionFX trades for the pound were right this week. GBPUSD - running 230 pips GBPNZD - running 240 pips GBPAUD - running 195 pips Oh well, onto the next
Don't just use Scorpion... Myfxbook is the most valuable but you dont just trade them AS IS.... I traded them Monday and closed them after New York.. Never traded them Tuesday as they did a reversal. More to it then just taking Scorpion trades or myfxbook.
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The most violent element in society is IGNORANCE
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