That Aussie Dollar looked pretty strong earlier, let’s see what it’s doing. Now I’m no fancy heat map, but I’m gonna wager to say the EUR is going to come up weak.
EUR seems to be driving the bus here, but not in a good way. (The red line is the start of the new day. So for example, I’m going through my charts as I often do, and I’m checking out the EUR/GBP, one of my favorite pairs. We’ll use 15 min Forex charts to compare then. They appear to use a 24 hour measurement. We’ll use their map as of 2/16/18 for our data. Trading View came through! I’ve already linked it above, you you can view it here as well. It’s Saturday as I write this, which is good, it won’t move on us, and we can get a clearer picture here. I needed to find a website which had a live heat map on it.Īgain, “currency strength meter”, “Forex heat map”, same thing. Oanda has one near the very top of Google when you search for one.īut let me show you what I mean by all of this. But I do, of course, have a few theories.ĭealing Desk Brokers, brokers that make money taking the other side of your trade, LOVE to have these on hand for you to see and use. I mean, a tool, that tells you what just happened? When new traders first discover these tools, their jaws drop, and thoughts of money raining down from the heavens saturates their heads. This can also come in the form of Forex Heat Maps, which essentially do the same thing.
There are no free pictures for me to use legally for the blog, so just click the link I gave you 4 lines up if you want to see what it offers. It attempts to give you an overall picture of which currencies have been strong and which ones have been week for those periods. It ranks the 8 major currencies (and sometimes others too) based on how strong they’ve performed over x periods of time. So what does the Currency Strength Meter do you ask? We will also tackle the Currency Strength Indicator, which can be a bit different. Do you actually use one and how do you do it or is my guess wrong? I got one myself and i must say it compliments the other tools you told us very well. Having looked at your algorithm, am guessing it includes a currency strength meter of some sort. Not cool.Īnd yes, I know there’s a Bitcoin in the picture, we actually talked about it a bit in the podcast.īut do check out the pod here, or simply continue reading on. Other sites tell you everything is great all the time, then you go out and lose a bunch of money. If you’re new to this blog, we tell you what you NEED to hear, not always what you want to hear. I’ll go ahead and be the one to tell you. People get really excited when they see the Currency Strength Meter for the first time.
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