I want to analyse my Forex Pairs every weekend, What global settings to use.
in learnt from a friend of mine, that he uses the following.
in a month
Week 1-2 , he uses 1 Month with last closed.
Week 3-4 , he uses 1 Month real-time.
is this setting a right to use for analysing the markets End of the Week.
I’m not clear why your friend would use that approach.
Anyway, what conclusions do you want to get from your weekend analysis?
I want to get pairs which are strong and weak and also which are ranging.
So based on that i would create my setups based on the filter.
Based on the marketmilk list based on filter i mentioned. i which are in Green and Read, and enter them in my XL, which filters and provides me a list.
I like the idea.
There are different ways to identify the strongest and weakest currencies. You can look at the percentage price changes over the last week or more to find which has moved most in that time period.
Or you can look at each currency against a single currency, such as JPY or USD to see which is moving most.
Or I look at the 28 main daily charts with 50EMA displayed. This tells me the total number of pairs in whch a currency is bullish or bearish. Each currency is found in 7 pairs so one currency of the 8 main currencies will after every day have 7 bullish charts and another will have 7 bearish charts. The pairs with the most bullish and most bearish currencies are usually trending strongly, not ranging sideways.
Over time you can also see which currencies are strengthening or weakening over time, it’s not just a snapshot.