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analyst75

Currency Strength Meter (Leaked)

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TAPPING PROFITS WITH AN INTRADAY STRATEGY

 

“As traders, we should never stop learning, because the markets are never going to stop teaching. Continuing to learn is a vital part of becoming a better trader.” – Track ‘n Trade

 

You may have heard that FX trading is all about combining strong currencies with weak currencies. Well, this is the home truth. In fact, this is what currency trading is all about, and the Currency Strength Meter helps us do this as easily as possible, while you are adequately rewarded.

 

Currency Strength Meter – What You Need to Know

The currency strength meter at LiveCharts gives you a quick visual guide to which currencies are currently strong, and which ones are weak. The meter measures the strength of all Forex cross pairs and applies calculations on them to determine the overall strength for each individual currency.

 

How Does The Currency Strength Meter Work?

The meter takes readings from every Forex pair over the last 24 hours, and applies calculations to each. It then bundles together each the associated pairs to an individual currency (eg, EURUSD, EURJPY, EURGBP etc) and finds the current strength.

 

How Can This Help Me?

It is useful as a quick guide to which currencies you might want to trade, and which might be worth staying away from. For instance, if a certain currency is very strong, and another suddenly turns weaker, you may find a trading opportunity. Such deviation between pairs usually indicates momentum. Conversely, if two currencies are weak, strong or average strength, there is often a range or sideways movement happening. You might want to stay away from trading those pairs. (Source: LiveCharts)

 

Bringing It Together

There are many ways in which currency strength information is displayed (like figures display, bars displays, etc.), but LiveCharts makes uses of rectangular bars.

 

The strongest currency would display six rectangular bars on top of it.

The weakest currency would display only one rectangular bar on top of it.

The second strongest currency would display five rectangular bars on top of it.

The second weakest currency would display two rectangular bars on top of it.

The uppermost rectangular bar on top of the strongest currency is green, while the only rectangular bar above the weakest currency is red.

 

Watch the video here: Learn.tradimo.com/courses/183

 

Looking at the CSM, the best thing to do is to combine the strongest currency with the weakest currency for the best result. Sometimes, we may combine the strongest currency with the second weakest currency (or the second strongest currency to the weakest currency).

 

In a given day, all currencies with four or three bars on top of them would be avoided.

Also, these are what we do not want to do:

Combination of one strongest currency with another strongest currency,

Combination of the weakest currency with another weakest currency,

Combination of one second strongest currency with another second strongest currency,

And combination of one second weakest currency with another second weakest currency.

 

Strategy Snapshot*

Strategy name:

Strategy type:

Suitability:

Time horizon:

Indicator:

Setup:

Position sizing:

Stop loss:

Take profit:

Risk per trade:

Risk-to-reward ratio:

Maximum duration per trade:

Maximum orders per day:

 

The quote below ends the article:

 

“When I follow my rules, good things happen. When I don't follow them, bad things happen.” - James Altucher

 

 

*Please watch the details of the strategy video here: Learn.tradimo.com/courses/183

 

 

Tallinex.com wants you to make money from the markets

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BlaBlaMeter - Bullshit detection tool

 

.................................................................................................................................................

 

 

 

Bullshit Index 0.25

Your text shows some indications of bullshit English, but is still within an acceptable range

 

Tallinex.com wants you to make money from the markets

;)

Edited by mitsubishi

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BlaBlaMeter - Bullshit detection tool

 

.................................................................................................................................................

 

 

 

Bullshit Index 0.25

Your text shows some indications of bullshit English, but is still within an acceptable range

 

Tallinex.com wants you to make money from the markets

;)

 

Funny... I checked an article that I was considering posting: scored .32

In all fairness to my ego and self esteem it hasn't reached the first edit yet, and my first drafts are always a bit frothy.

 

A most useful tool. By the way, I checked some recent posts of yours (.11 and .12). I was hoping to snag you, but no such luck.

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We need to test this tool properly (relax OP this won't hurt a bit)

 

Let's see what score it comes up with.

 

Hi My company Ten-a-pennypax is in business to lose money by letting you win all your bets. We sincerely believe responsible capitalism is about letting underfunded, untrained gamblers believe that the company on the other side of their bet wants to lose money to it's customers.as often as possible.

 

Our shareholders love this business model and our competitors are jealous. Shouldn't you sign up and start taking our money as soon as possible? Just read any one of our articles to become an expert on financial trading from the comfort of your home in just 15 minutes.

 

 

Bullshit Index 0.32

 

Your text shows indications of Bullshit- English.. It's still Ok for PR and advertising purposes, but more critical audiences may be more sceptical.

 

Wow, what can I say. A bullshit detector that thinks bullshit is acceptable....:confused: :rofl:

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At this point in the conversation I would hope to redirect to my thread in general discussion... give A75 some room (so to speak). If you'll (those reading) would like to experiment with the BlaBlameter the general discussion forum may be a more appropriate place...

 

http://www.traderslaboratory.com/forums/general-discussion/20463-blablameter.html#post203792

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    • Date : 20th April 2018.

      MACRO EVENTS & NEWS OF 20th April 2018.



      FX News Today

      European Outlook: SNB’s Jordan sees no need for change in policy. The Swiss central bank President told Bloomberg last night that “there is no need to do anything regarding monetary policy at this morning”. Speaking after the CHF broke through the 1.20 per euro mark for the first time since the SNB gave up that ceiling, Jordan said the franc’s drop goes in the “right direction” but added that the currency is still considered a haven and the situation “fragile” and prone to change. So the SNB “remains very prudent” and “convinced that the current monetary policy is still necessary”. Further confirmation that the SNB is firmly on hold while watching also the ECB’s move very closely. If and when the ECB finally starts to reign in its support it will also increase the room for the SNB to manoeuvre. Bloomberg polls predict the first rate hike from the SNB in the last quarter of 2019.

      US Updates: Revealed a Philly Fed rise to 23.2 in April and a 1k initial claims downtick to a slightly-elevated 232k in the BLS survey week of April. The ISM-adjusted Philly Fed beat estimates with only a small April drop to 59.7 from a 45-year high of 61.8 in March, thus outperforming Monday’s Empire State where we saw an April drop to 15.8 from 22.5 with an ISM-adjusted decline to 56.2 from 57.3. For claims, the trend remains tight despite modestly higher readings over the last three weeks, as the moving Easter holiday and school breaks often distort April claims. We still expect a 210k April nonfarm payroll rise. The weekly Bloomberg consumer comfort index hit a third consecutive new cycle-high in mid-April of 58.1, and leading indicators rose 0.3% in March to leave a 22-month stretch without a decline, and a rise in the 6-month annualized reading to a lofty 8.8%

      Charts of the Day



      Main Macro Events Today
        CAD Retail sales – Expectations are for an improvement of 0.5% in February after the 0.3% gain in January. The ex-autos sales aggregate is expected at +0.3% after the 0.9% gain in January. The CPI’s gasoline price index edged 0.7% lower in February after jumping 3.2% in January following a 3.3% drop in December. % m/m inline with expectations CAD CPI – Expect March CPI, due Friday, to expand 0.4% (m/m) after the 0.6% surge in February. The annual growth rate is projected at 2.5% in March, up from the 2.2% y/y pace seen in February that was the fasted rate of CPI growth since the 2.4% pace in October of 2014. The BoC took the recent CPI climb in stride, viewing it as in line with their outlook. The temporary factors that had been restraining inflation, the Bank explained, “have largely dissipated, as expected.” The close to 2% core inflation rates are consistent with an “economy operating with little slack.” Inflation in 2018 is expected to be modestly higher than they expected in January, but due to the transitory impact of higher gas prices and recent minimum wage increases. See the preview. IMF Speeches – Saunders (BOE) Weidmann (Buba) Williams (FOMC) Support & Resistance Levels



      Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

      Please note that times displayed based on local time zone and are from time of writing this report.

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      Click HERE to READ more Market news. 


      Stuart Cowell
      Senior Market Analyst
      HotForex


      Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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