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Currency meter trading - strongest v weakest

  • #81
  • Edited Feb 9, 2010 12:06am Feb 8, 2010 11:19pm | Edited Feb 9, 2010 12:06am
1st ej buy with jpy the weakest this am and eur amongst the strongest at 122.54 an easy 30 pips, re-entry as shown exit for another 13 with stall at even number. looking for another buy.
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  • #82
  • Feb 9, 2010 12:05am Feb 9, 2010 12:05am
With ej around 6-0 took another buy around even number, didn't follow through so out at +2. We have run up over 100 pips in total, so maybe this is it for now. TWT.
  • #83
  • Feb 9, 2010 12:26am Feb 9, 2010 12:26am
After pullback and a 5 min hammer bought with cm at 6-2 ej again at 122.95, no follow through out at +4.

Now having a lh but cm doesn't agree with a sell. So I won't. Still trying to figure out cm with turnarounds.
  • #84
  • Feb 9, 2010 12:57am Feb 9, 2010 12:57am
EJ is still around 5.7 to 2.2 so the decision not to sell the lh correct but who knows where she'll go from here.

This is gu chart 5 min. Gbp was slightly stronger than usd by a couple and has been turning around now 2.8 to 3.6 in favour of usd. This is an example of a lower high close around 5625 and numbers turning around from gbp stronger to even/usd stronger. Didn't take this one, still watching the turnaround situations.

The answer may be to avoid the lower highs like ej where at 5.5 to 2.3 ish the strength was just too much for eur to consider an ej sell. As compared to gu where gbp strength was more marginal and the lh was accompanied by a cm turn.
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  • #85
  • Feb 9, 2010 2:06am Feb 9, 2010 2:06am
Trade on left I normally wouldn't have taken as we'd had a lh and lower low on ej 5 min. With jpy staying weak and eur staying strong an easy buy after the hesitation candles around 122.80. Jpy 1.5 and eur 5.8 ish.

Took next hl also but that one was BE.
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  • #86
  • Feb 9, 2010 4:07am Feb 9, 2010 4:07am
Jpy staying the weakest across the board 2 and below generally. Eur staying one of the strongest 5.5 ish, an easy hl buy for just short of 20 pips.
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  • #87
  • Feb 9, 2010 4:44am Feb 9, 2010 4:44am
Don't know what caused it but did re-entry on ej 1 min chart and boom a 5.5-2 spread sprang out to 6.5-0 for a quick 40 pip trade to 123.55 area.

I've now had platform go down and am a little tired so going to try for a quick snooze.
  • #88
  • Feb 9, 2010 4:46am Feb 9, 2010 4:46am
Updated 1st page with some thoughts etc etc.

Boy am I sorry that being classified a commercial member bans you from posting on mainstream threads. I'm sure this CM could be helping a lot of people.

This appears to be without doubt the single best trading gizmo since tea and toast.
  • #89
  • Feb 9, 2010 4:50am Feb 9, 2010 4:50am
One of those thoughts being after some days trading this a 4 spread on ej, gu, eu seems good for trades. Obviously where they are maintained through hl/lh cycles.

Apart from the odd wacky idea trade where we are looking to do something a little out there we have had no losing trades following a good hl/lh with nice candles and CM confirmation ie spread 4 or more.

Now thats worth mentioning.
  • #90
  • Feb 9, 2010 4:53am Feb 9, 2010 4:53am
Just had one of those gbp slightly weaker than usd falls and turnaround to usd 2.4 gbp 4.5 and a nice move up. Didn't trade it as I was in ej but gu in particular seems to move on the switch from say 4 - 3 to 3 - 4.

Will continue to watch that trade idea in particular for gu.
  • #91
  • Feb 9, 2010 5:05am Feb 9, 2010 5:05am
Have u even had a loss yet Mr V?

Looks nice so far
  • #92
  • Feb 9, 2010 5:12am Feb 9, 2010 5:12am
Quoting Sim
Have u even had a loss yet Mr V?

Looks nice so far
No losing trades where we follow hl/lh's with good candles and CM confirmation, ie continuation of say 4 point spread.

Mrs V had a 7 pip losing trade today, I came in somewhat surprised she took it ie she was bending if not breaking the rules.

All in all I am quite stunned as to how well this is going.
  • #93
  • Feb 9, 2010 5:19am Feb 9, 2010 5:19am
Quoting Sim
Have u even had a loss yet Mr V?

Looks nice so far
To give you an idea ej was basically a buy the whole day as outlined in many posts. We rejected the lower high sell that we would otherwise have been interested in as jpy was too weak to consider. CM kept us out of a losing trade.

On that basis, sticking to buys where cm is clear, its actually tough to go wrong.
  • #94
  • Feb 9, 2010 5:37am Feb 9, 2010 5:37am
Awesome I agree..I can't get my head around the lag we will inevitably face though...maybe we need a CM based on intraday relative strength? I've taken 4 buys on EU today all good, going against the grain of CM
  • #95
  • Feb 9, 2010 8:00am Feb 9, 2010 8:00am
Quoting Sim
Awesome I agree..I can't get my head around the lag we will inevitably face though...maybe we need a CM based on intraday relative strength? I've taken 4 buys on EU today all good, going against the grain of CM
The CM is current as its happening. Eur was strong for most of the day hence ej going up so it was prob going with cm??

But there are some movements obviously that will go counter cm as that is an average across all pairs.
  • #96
  • Feb 9, 2010 12:31pm Feb 9, 2010 12:31pm
Vantage : it seems this system is good in US and Uk sections.


i got a call of HMR 4 on eur/usd H1 by 14:00 and CM shows that $ was weak and eur strong, then when another candle forms i bought EU and made good result.

But i want to know pls do you make your entry on 5min or 1 min. pls address how you use 1min and 5min
  • #97
  • Feb 9, 2010 9:57pm Feb 9, 2010 9:57pm
Quoting yullah
Vantage : it seems this system is good in US and Uk sections.


i got a call of HMR 4 on eur/usd H1 by 14:00 and CM shows that $ was weak and eur strong, then when another candle forms i bought EU and made good result.

But i want to know pls do you make your entry on 5min or 1 min. pls address how you use 1min and 5min
Hi yullah
Yeah prob right about us/uk sessions unless currencies are on a big run in asian session.

5 min. See the link on higher low lower high thread. for types of entries. I want a nice candle either a lh/hl/1 2 3 entry, wait for cross of 8 lwma, close of candle and price must carry on 1 pip beyond end of candle to confirm.

1 min re-entry essentially this is when a decent move is on and price has pulled back, same idea close candle crossing 8 lwma. Price moves on.

All the time cm must remain in direction of main move.
  • #98
  • Feb 9, 2010 10:12pm Feb 9, 2010 10:12pm
When I opened up this am asian session had decent falls for eu and ej and cm shows surprise surprise usd and jpy strong and eur weak both in the 3-6 range.
  • #99
  • Feb 9, 2010 10:18pm Feb 9, 2010 10:18pm
Thank you vantage, for your kind responses. Was unable to put in any screen time last 24 hrs.

I think the CM will be a nice accessary to a lot of trade systems.

I had an interesting (I think) observation monday. While watching the EU and EJ they turned short for a fairly rapid move at about 1400 GMT, thus triggering my trade, as per my usual rules (the break of a LL) on the 15 time frame.

I noticed that strength numbers of the currencies "crossed" at just about the time my stop order was tripped. Picked up a nifty 45 pips, too.

Perhaps a "cross" or "reverse" of the numbers is something to watch.

By the way, I usually trade the 15, 1hour, and 4hr. But I think the 5 min is a better fit.

Shakey
  • #100
  • Feb 9, 2010 10:23pm Feb 9, 2010 10:23pm
Quoting Vantage
When I opened up this am asian session had decent falls for eu and ej and cm shows surprise surprise usd and jpy strong and eur weak both in the 3-6 range.

Guess what? I caught the same move on the EJ for about 20. Spotted it on the 15, and fine tuned it on the five.

Shakey
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