Recently I have done some reading and watched a video about using the current "Relative Strength" of an individual currency(s) as the basis for deciding what pair(s) to trade. This thread began to explore the possibilities but has since gone 'dark':
http://www.forexfactory.com/showthread.php?t=80927
I'd like to re-open the discussion for the purpose of learning if there is a reliable way to do what has already been described in this thread. The information I seek would only be useful, IMO, for 'immediate' intraday trading. My preference is for trading larger time frames, but occasionally it suits my trading style to 'scalp' a few pips on a smaller chart. And it seems both reasonable and logical to select a pair that has opposite strength/weakness.
Any comments, observations, opinions and experiences are welcome.
http://www.forexfactory.com/showthread.php?t=80927
I'd like to re-open the discussion for the purpose of learning if there is a reliable way to do what has already been described in this thread. The information I seek would only be useful, IMO, for 'immediate' intraday trading. My preference is for trading larger time frames, but occasionally it suits my trading style to 'scalp' a few pips on a smaller chart. And it seems both reasonable and logical to select a pair that has opposite strength/weakness.
Any comments, observations, opinions and experiences are welcome.