July 1, 2015Daily Analysis

7/1 Analysis: Knowing which pair to trade

We are looking again at the importance of momentum in the market. Right now there is nothing that meets our criteria. We have strong and weak currencies but none of them are continuing to get stronger or weaker. The market is flat.

Under these conditions, I’d be reluctant to even place pending orders.

However, if we fast forward only about 20 seconds into the session this is what the indicator looked like:

070115 London Trade1

Now this is where having market knowledge like we teach in some of the advanced lessons included in our home study course is vital.

The CAD is the strongest currency up top (green line) and the CHF is clearly the weakest down below and getting weaker (turquoise line).

But, the CAD/CHF doesn’t have a wide daily trading range yet the spread is one of the widest. This makes it very difficult to profit from this pair. So I would ignore the CAD/CHF and look for better opportunities.

I’d first look to trade the following:

  • USD/CHF BUY

From the point that we saw the indicator change showing current momentum in the market, this pair went straight up 48 pips.

When you watch the entire video analysis, you will see how early we can identify these moves well before the amateur crowd.  You will also see another profitable opportunity on the CHF/JPY from today’s London session.

You can see that our Currency Strength Indicator is an effective tool for picking out the highest probability, lowest risk trade set ups while avoiding market conditions that aren’t favorable. If you keep using this tool every day along with our daily Forex analysis, you will increase your win rate and be on your way to becoming a profitable trader long term.

Share this article

  • Facebook
  • Google Plus
  • Twitter
  • Add to favorites
  • Email

Learn to Trade from Top Traders

Join the CCT community and get FREE, unlimited access to all of our trading resources from top hedge fund managers and pro Forex traders around the world.

Join Now
James Edward on youtubeJames Edward on googleJames Edward on facebook
James Edward
James Edward has been a successful Forex hedge fund manager & educator for over a decade. He founded Complete Currency Trader, a London based firm that has consistently trained individuals to become professional and profitable traders long term using the individual currency strength analysis methodology. CCT is an elite Forex educational firm and has a reputation second to none with over 90 positive reviews and an overall 4.538 out of 5 rating on the third party verification site Forex Peace Army. James’s affable personality, expert knowledge, notoriety for getting results, and steadfast dedication to his clients, has secured his position as one of the most trustworthy, liked, and in demand authorities in the industry.