FX Weekly Ranking and Rating Wk03 / Wed. 21-Jan-2015

NZD/CAD: Long
The pull back this week in the pair offered a good opportunity to step in. For that reason positions have been opened for this pair based on the analysis described in my article Weekly Review Strategy Wk03. Profit has been made of 1/4 Weekly ATR on 1 position and another position remains open with a trailing stop.
The CAD has become the weakest currency at the moment and the NZD is a stronger currency so far this week according to the FxTaTrader Currency Score.

Possible positions for this week
At the moment no positions are taken for the FxTaTrader strategy in the EUR and CHF although the EUR/USD looks interesting. Only after the big news event , the ECB Interest Rate Decision, positions will be considered. The USD/JPY and AUD/USD are starting to look interesting but more confirmation is needed before taking any positions.


Analysis based on TA charts for all the major currency pairs. Good luck to all. No advice, just info. Every week the Forex ranking rating list will be prepared in the weekend. All the relevant Time Frames will be analyzed and the ATR and Pip value will be set.

There will be 2 updates during the week on Tuesday and Wednesday. The Daily and 4 Hour chart will then be analyzed and updated.
This makes that there will be no more than 48 trading hours between each update. This is a reasonable period when considering that the smallest time frame used is the 4 hours, meaning 12 price bars/candlesticks.

The Forex ranking and rating list is meaningful data for my FxTaTrader Hybrid Grid strategy. Besides this list I also use the Currency Score which is available once a week on this blog also together with my weekly analysis on my Hybrid Grid Strategy. For more information on the FxTaTrader Forex Models "Ranking and Rating list" and "Currency Score" visit the following pages on my blog:
Introduction to the FxTaTrader Forex Models
FxTaTrader Forex Ranking & Rating list
Currency score explained

Although the explanation may seem simple and clear there is always risk involved. I added a disclaimer to my blog for this purpose.  If you would like to use this article then mention the source by providing the URL FxTaTrader.com or the direct link to this article. Good luck in the coming week.

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DISCLAIMER: The articles are my personal opinion, not recommendations, FX trading is risky and not suitable for everyone.The content is for educational purposes only and is aimed solely for the use by ‘experienced’ traders in the FOREX market as the contents are intended to be understood by professional users who are fully aware of the inherent risks in forex trading. The content is for 'Forex Trading Journal' purpose only. Nothing should be construed as recommendation to purchase any financial instruments. The choice and risk is always yours. Thank you.