The Market Is Tricky | Page 2 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

market Theory 101 Supply and Demand,Market Cycles 7 replies

Few tricky questions 11 replies

Tricky Stochastic 8 replies

Market Size (S+P 500 compared to Forex Market?) 0 replies

Time in the Market, Beats Timing the Market? Does this work in FX?? 7 replies

Attachments: The Market Is Tricky
Exit Attachments

The Market Is Tricky

  • #21
  • Jul 1, 8:52pm (2 hr 53 min ago) Jul 1, 8:52pm (2 hr 53 min ago)
Update.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.webp Size: 21 KB
  • #22
  • Jul 1, 8:58pm (2 hr 47 min ago) Jul 1, 8:58pm (2 hr 47 min ago)
Update.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.webp Size: 25 KB
  • #23
  • Jul 1, 9:05pm (2 hr 40 min ago) Jul 1, 9:05pm (2 hr 40 min ago)
Quoting Th3W1z4rd
{quote} Just look for the currency starting from the left and if it's above the zero line, look for it to skip upwards before trading it, or you can also test the flipping thing I mentioned earlier, or whatever other way you can think of. If you think of something good, let us know.
I can’t figure out where to find a currency strength indicator
you built it yourself ? Cause when I type currency strength search if gives like battery level bars
  • #24
  • Jul 1, 9:07pm (2 hr 37 min ago) Jul 1, 9:07pm (2 hr 37 min ago)
Update.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot_000443.jpg Size: 31 KB
  • #25
  • Jul 1, 9:10pm (2 hr 34 min ago) Jul 1, 9:10pm (2 hr 34 min ago)
Quoting Rickblaise
{quote} I can’t figure out where to find a currency strength indicator you built it yourself ? Cause when I type currency strength search if gives like battery level bars
I created it but I used AI to code it. The v3.0 of the currency strength indicator is in Python but I can work on making it available as HTML because so people can easily read the graph using an Internet browser.
  • #26
  • Jul 1, 9:15pm (2 hr 30 min ago) Jul 1, 9:15pm (2 hr 30 min ago)
Quoting Th3W1z4rd
{quote} I created it but I used AI to code it. The v3.0 of the currency strength indicator is in Python but I can work on making it available as HTML because so people can easily read the graph using an Internet browser.
yes bro that will be great
ill send you a message and anytime you can pls do send
  • #27
  • Jul 1, 9:26pm (2 hr 18 min ago) Jul 1, 9:26pm (2 hr 18 min ago)
Quoting Rickblaise
{quote} yes bro that will be great ill send you a message and anytime you can pls do send
I don't really read PMs so just message in here. I'll try to work on that later today and make it available as HTML. But I want to give the condition that I'll be posting it in order for people to test it and give feedback. Feedback about this or that, or how they're using it, what other setups there are with it, post screenshots of their trades, etc. I don't want to post it for nothing lol For example, another way to trade it I just noticed is when a currency passes another one. Well anyway, it's up to you guys to figure out what are the best ways to trade it. As of now, it seems simply taking the direction it first gives is the best. So far, all the setups like that have worked out and the basket has gone into profit.

Here's the strong JPY basket for example.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.webp Size: 11 KB

I'll post it if people are going to test it and provide feedback with trades or without trades, but with charts, and ideas about how to use it, etc.
  • #28
  • Jul 1, 9:29pm (2 hr 16 min ago) Jul 1, 9:29pm (2 hr 16 min ago)
Update.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.webp Size: 36 KB
  • #29
  • Jul 1, 9:31pm (2 hr 13 min ago) Jul 1, 9:31pm (2 hr 13 min ago)
Quoting Th3W1z4rd
{quote} I don't really read PMs so just message in here. I'll try to work on that later today and make it available as HTML. But I want to give the condition that I'll be posting it in order for people to test it and give feedback. Feedback about this or that, or how they're using it, what other setups there are with it, post screenshots of their trades, etc. I don't want to post it for nothing lol For example, another way to trade it I just noticed is when a currency passes another one. Well anyway, it's up to you guys to figure out what are the...
I mostly trade gold so my main focus will be usd
Im not to sure if I can directly show my trade results but the analysis from the usd strength will be very beneficial to me and I’ll try as much to pin point the areas of intrest which helped in my trade entry
  • #30
  • Jul 1, 9:32pm (2 hr 12 min ago) Jul 1, 9:32pm (2 hr 12 min ago)
JPY just flipped to the other side but based on the testing so far from yesterday, I'll just hold on to the strong JPY basket. Some might use that flip to exit their trades, etc. We can share ideas and figure out what works best.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.webp Size: 36 KB
  • #31
  • Jul 1, 9:35pm (2 hr 10 min ago) Jul 1, 9:35pm (2 hr 10 min ago)
Quoting Rickblaise
{quote} I mostly trade gold so my main focus will be usd Im not to sure if I can directly show my trade results but the analysis from the usd strength will be very beneficial to me and I’ll try as much to pin point the areas of intrest which helped in my trade entry
Oh okay, the indicator is likely to show something about USD as it gets closer to London. I'll try to start another test around 08:00 or 09:00, to see the map before London opens, and also start one at 10:00 London open.
  • #32
  • Jul 1, 9:40pm (2 hr 5 min ago) Jul 1, 9:40pm (2 hr 5 min ago)
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot_000447.jpg Size: 38 KB
  • #33
  • Jul 1, 9:42pm (2 hr 3 min ago) Jul 1, 9:42pm (2 hr 3 min ago)
Quoting Th3W1z4rd
{quote} Oh okay, the indicator is likely to show something about USD as it gets closer to London. I'll try to start another test around 08:00 or 09:00, to see the map before London opens, and also start one at 10:00 London open.
Thanks
cause dxy actually helps but sometimes there’s is a divergence which falses my decision making and invalidates some of my trades
a look into currency strength should help me add one more layer to verify the thesis before entries
  • #34
  • Jul 1, 9:54pm (1 hr 51 min ago) Jul 1, 9:54pm (1 hr 51 min ago)
Quoting Rickblaise
{quote} Thanks cause dxy actually helps but sometimes there’s is a divergence which falses my decision making and invalidates some of my trades a look into currency strength should help me add one more layer to verify the thesis before entries
Yeah, the computations behind it are solid and make structural sense. Since you're interested about USD only and I'm not sure which instruments you're trading, stocks, etc., the thing to determine is what time to start the analysis to get a good map of the USD.

Let's say for example you want to trade the USD news release at 16:00. In that case it would make sense to start the indicator analysis at 14:00, or even 15:00.

But so far from what I've noticed, the readings it gives when started at Tokyo open 03:00 seem to hold for the remainder of the day. It's almost as if it's the most important session.

All these things need to be observed and feedback provided so that we can all make progress faster.
  • #35
  • Jul 1, 10:01pm (1 hr 44 min ago) Jul 1, 10:01pm (1 hr 44 min ago)
Quoting Th3W1z4rd
{quote} Yeah, the computations behind it are solid and make structural sense. Since you're interested about USD only and I'm not sure which instruments you're trading, stocks, etc., the thing to determine is what time to start the analysis to get a good map of the USD. Let's say for example you want to trade the USD news release at 16:00. In that case it would make sense to start the indicator analysis at 14:00, or even 15:00. But so far from what I've noticed, the readings it gives when started at Tokyo open 03:00 seem to hold for the remainder...
I’ll obviously do to make feedbacks
and yeah Tokyo seems to be e very defining session
that’s why I mark up tokyo highs and lows every morning which serves as great guidance for my daily lookouts
  • #36
  • Jul 1, 10:21pm (1 hr 24 min ago) Jul 1, 10:21pm (1 hr 24 min ago)
GBP showed up as strong again. That's two days in a row with strong GBP.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot_000448.jpg Size: 46 KB

I was going to close the strong GBP basket started yesterday at 18:00 but I'll hold on to it for now.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.webp Size: 11 KB
  • #37
  • Jul 1, 10:26pm (1 hr 18 min ago) Jul 1, 10:26pm (1 hr 18 min ago)
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot_000449.jpg Size: 49 KB
  • #38
  • Jul 1, 10:29pm (1 hr 16 min ago) Jul 1, 10:29pm (1 hr 16 min ago)
Quoting Th3W1z4rd
Update. EUR just showed as weak. {image}
This is currently the weak EUR basket started at 06:39 according to this screenshot.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.webp Size: 8 KB
  • #39
  • Jul 1, 10:33pm (1 hr 11 min ago) Jul 1, 10:33pm (1 hr 11 min ago)
Quoting Th3W1z4rd
The indicator (currently on Python) begins analyzing the currencies at 03:00 Tokyo open. Then what I do is, I wait for a currency to appear on one side of the zero line. So looking at the figure, the first plot is JPY (strong). Okay, next, I will trade the entire basket of JPY pairs only if JPY appears on the other side of the zero line, this time would be a weak JPY. It did that at 03:56. You can check all the JPY charts starting at 03:56 to see the bask was in profit. {image}
This confirms it for me that it's better not to do the flipping thing and instead, go with the original direction (not wait for a flip). This showed in the indicator start time at 03:00, and again in the indicator start time at 06:00 here https://www.forexfactory.com/thread/...5#post15784695
Attached Image (click to enlarge)
Click to Enlarge Name: Panel_8R6MK2.png Size: 12 KB
  • #40
  • Jul 1, 10:42pm (1 hr 3 min ago) Jul 1, 10:42pm (1 hr 3 min ago)
There's about 20 minutes left until 09:00 so I'll send one or two more updates of the python app before I restart it at 09:00, an hour before 10:00 London to see if it's more insightful than the 03:00 start time from earlier.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot_000450.jpg Size: 53 KB
46 traders viewing now, 2 are registered:
,
Rickblaise