Forex Diary 17th Feb 2020


1) Take a FXCorrelator indicator (available free on this site or also here)

link


2) Find the alpha Bull or Bear Currency (or both)

3) Trade it as a pair in the direction indicated

4) Repeat

5) keep repeating

6) did I say repeat ?


SO - today ...alpha bear is red sterling..........and i like Cable .......


Eat - Sleep - Trade - Repeat




9:15


i will need low 3040s to get into cable resells again


9:27

are you ready to resell Cable ? ......watching the 3044.....counting down


sell 3042


9:30

if Cable breaks up above 42 come out and we will go in again later .....


9:31 - out at moment just cost me the spread ....thats how i like my losses


9:35 eu perfect at 45 rebuy


9:38 3044 resell again


crap morning for me now .....im up ok ....but hate losing trades ....now im fully in the zone and taking no prisoners


9:42... 3039 so tighten and follow cable south ......thats 3 decent scalps on cable this morning getting to 4-5 pips


9:48

ok i was just live calling in the zone shown ...........1 crappy faked scalp loss for spread and a 5 pipper ......pretty slow so far this morning but no complaints ......

grinding it out is the mantra for scalpers ...no glory here guys ...just grit and focus

10:00


ok been 1 more trade from 3040 to 35 ...really tight though ......

got to grab some breakfast as starving - back later


12:00


Cable has continued to sell so had my head down trading it ......

have a good day ...i have

N



12:13


[QUOTE=]

cable seems to have a minor bull flag forming

EJ..an opportunity to get in at the bottom....Should see blue and watch for the pullback

Could be wrong.....lol

[/QUOTE]


hey there - certainly nothing for me this morning much on EJ vs GBP pairs - i need divergence signals - look how tight they are



someone asked me shouldnt i have been trading GBPCAD earlier buying CAD


hey guys


ive recreated the chart below looking back ....


The concept of any relative strengthmeter strategies is to generally sell the bears and buy the bulls


looking at the brown cad and red GBP below ......why would I buy the brown Cad into the Bear red GBP ?


the grey swissie is alpha bull .......but I have a soft spot for cable ......my spreads are worse on GBPCAD and I dont like trading 2 volatile currencies unless i'm on faster Timeframes ...........


I classify the 3 main movers as GBP , YEN and CAD .....others tend to be slower ......trade these 3 at your peril together at 5 min TF and below ...unless you are BUCKLED UP


N



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