110306 - This Week In Pictures

This week continues the risk-off mood of the market, and provides further opportunity to study the grid strategy, with some aside notes on the excellent manual opportunities presented this week. Again, I only discuss those currencies of interest to my strategy, but would love to hear from anyone who has spotted something I have missed.

With both USDCAD and USDCHF being the main pairs of interest this week, as they both are peaking right now, some of the other crosses are showing that they can continue to provide PL whilst the majors are making up their minds which way they will go next. Here we can see at least 7 TPs from AUDCAD as it moves virtually sideways for the whole week.

AUDCHF also is moving in a slightly bearish channel. Note how the 3 day regression channel backs up the 5 day, whereas the 24 hour regression channel shows the price completing the latest downward leg. Ideal grid trading opportunities.

Whilst CADCHF doesn't show many gridding TPs, note how the swing indicator highlights some pretty profitable manual trade entry points, as the slightly bullish 5 day channel exhibits some sinusoidal movement. These entry points are all confirmed with the Smoothed RSI Inverse Fisher Transform Indicator, the 2 indicators working extremely well here.

I started a couple of new cross-pairs this week, CADJPY being one of them. Actually I already had this pair running on the small account, and it was proving a good PL provider, so I decided to put it on the big account where I can trade with bigger volume. Sometimes I feel that looking at the small account is a bit like watching paint dry, forgetting that the percentage increase on it is far more than I could make on any other investment I know of.

CHFJPY here showing another example of how the smaller crosses hedge the effect on margin drawdown of the bigger pairs.

EURCHF seen here in a bullish 5day channel, adding to the hedging effect, and also showing some pretty accurate manual trading opportunities from the Swing Indicator confirmed by the Smoothed Fisher RSI Inverse Fisher Transform Indicator.

Again, EURGBP shows massive manual trading opportunities indicated, as EUR strengthens across the board.

GBPCHF again exhibiting good opportunities for manual trades.

USDCAD again breaking nDay lows. Both indicators show good manual trading opportunities. All 3 regression channels agreeing on the trend, with the 24 hour channel showing the decrease in volatility exhibited here.

USDCHF completing another downward leg of the almost horizontal channel. Will it bounce or won't it?

USDJPY showing exactly why I like it as a gridding pair (except when BOJ starts throwing its weight around!). Also some great manual trading opportunities here.