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Examining some figures

by Gav Leave a Comment

I am trying a new idea of examining strength (or maybe sentiment) of some currencies. Taking the average of the trend scores (as of today) that I am using. No rocket science, just some statistics to be considered before making trade.

A scale from -100 (strong downtrend) to +100 (strong up trend)

YEN

GBP/JPY -55

USD/JPY -55

AUD/JPY +70

CAD/JPY -55

Average : -23.75. Yen scores +23.75 . This is rather flat.

AUSSIE

AUD/USD +60

AUD/JPY +70

AUD/CAD +90

GBP/AUD -75

Average: +73.75. Australian dollar is still in uptrend, though it is not as strong yet.

USD

USD/JPY -55

GBP/USD +55

EUR/USD +80

USD/CAD -70

Average: -65. It shows Dollar is in downtrend, but, it is a weak downtrend at the moment.

I am still going with Aussie dollar, at the moment. Though I would be happier if it gets a little bit stronger now. :o:

The tools that I use to generate trend score

Filed Under: Trading Journal Tagged With: Forex Blogroll, FX, Trading Journal

Reader Interactions

Comments

  1. Caravaggio says

    at 1:00 pm

    Hi Trader Gav. These rates could also tweaked by weighting them according to the importance. For example, for the yen indicator, CAD/JPY would have a low weight because it is of lesser importance to the yen than say USD or AUD (a la the ‘trade-weighted index’).

    : )

    Reply
    • Gav says

      at 8:24 pm

      Hey Caravaggio, that’s a good point. I will incorporate it into my next calculation.

      Cheers!

      Reply
  2. Caravaggio says

    at 12:00 am

    Hi Trader Gav. These rates could also tweaked by weighting them according to the importance. For example, for the yen indicator, CAD/JPY would have a low weight because it is of lesser importance to the yen than say USD or AUD (a la the ‘trade-weighted index’).

    : )

    Reply
    • Gav says

      at 7:24 am

      Hey Caravaggio, that’s a good point. I will incorporate it into my next calculation.

      Cheers!

      Reply
  3. Jay says

    at 4:18 pm

    And then use it as a contra-indicator!

    Reply
    • Gav says

      at 8:42 pm

      LOL. Yeah, Jay, I was thinking about the same thing before…

      But, let’s see how it works out..

      Reply
  4. Jay says

    at 3:18 am

    And then use it as a contra-indicator!

    Reply
    • Gav says

      at 7:42 am

      LOL. Yeah, Jay, I was thinking about the same thing before…

      But, let’s see how it works out..

      Reply

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My Name is Gav.
I am a Father, Husband, Trader, And Blogger. A serious coffee addict. I started training since 2005, mainly on FX and Futures.

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