FX Monthly Ranking And Rating For May
Forex Technical Analyst Trader | May 05, 2015 03:23AM ET
When looking at the Top 10 in the Monthly Ranking and Rating list provided here we can see that for the coming month the following stronger currencies are well represented for going long: CHF(7X) and the GBP(2X). The JPY(2X), AUD(2X) and EUR(2x) are all weaker currencies.
A nice combination for the coming month(s) may be e.g.:
- CHF/JPY with the GBP/AUD
- AUD/CHF with the GBP/JPY
- EUR/CHF with the GBP/AUD
- EUR/CHF with the GBP/JPY
These are just a few examples and many other combinations are possible. The mentioned pair combinations can be traded at the same time according to the rules of the FxTaTrader strategy because these are all different currencies. By not trading the same currency in the same direction more than once you may have better chances with lower risk.
FxTaTrader Forex monthly ranking and rating May / Sunday 03-May-2015
Analysis based on TA charts for all the major currency pairs. Good luck to all. No advice, just info. Every month the Forex ranking rating list will be prepared. All the relevant Time Frames will be analyzed and the ATR and Pip value will be set.
There will be no more than 21 trading days between each update in case of a period with maximum 3 weeks in between. This is a reasonable period when considering that the smallest time frame used is the daily, meaning 21 price bars/candlesticks.
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The monthly articles will be published during weekdays only. When the 1st of the month is on Monday, Tuseday or Wednesday the weekend before will be used for creating the models. Otherwise the weekend after will be used. Reason for creating the information in the weekend is because the Weekly close is more important than the daily close.
The Monthly Ranking and Rating list is still in the evaluation phase. The review on the strategy will not be published for the time being because of further testing of the system and lack of time. You can follow the Weekly strategy to stay informed on the progress and development of the strategy.
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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.
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