One position that was opened on March 26 and closed today with a profit of 190 pips (1/2 Weekly ATR). The NZD looks strong having a currency score of 7 at the moment, it is strong against all currencies except the USD. The EUR has a score of 1 and is the weakest currency at the time of writing. More (pending) orders will be placed.
Possible positions for this week
The AUD/CHF looks like an opportunity for going short although the strong short term uptrend of Tuesday and Wednesday makes the pair consolidate longer before finding the downtrend again. The AUD has currently only a score of 2 being the weakest currency after the EUR. The CHF has a score of 6 being strong against almost all currencies except for the USD and NZD. The Weekly and Daily chart are looking fine for going short but the 4 Hour chart has to show the downtrend also but it is consolidating at the time of writing.
Another good opportunity is the USD/JPY being at the moment one of the top rankings in the Ranking and Rating list. With the USD being the strongest currency and the JPY only having a score of 3 it is another reason to look at this pair.
FxTaTrader Forex weekly ranking
and rating Wk15 / Update Wed. 08-Apr-2015
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.
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