A particular currency’s detailed change compared to the other currencies by timeframe
Table 3 for the MT4 Relative Strength Indicator
The above Table 3 of the MT4 Relative Strength Indicator reflects A particular currency’s detailed change compared to the other currencies by time frame. The above table the EUR is compared to all the other currencies. You can select the currency you want compared to all the other currency by clicking on the currency in table 1.
You will note that the horizontal row for the EUR in table 2 in the previous webpage is reflected in the vertical column 3 hour column.
This Table show that except for the last 3 hours the EUR has weakened in almost every look back period compared to any other currency.
Information and trades
This kind of information above becomes potential trading opportunity warnings.
For the “With the trend trader” this is exactly what they are looking for – to join the trend when there has been a short term correction or retracement. By looking at the charts in the With the Trend traders will a start looking for selling opportunities to join the massive EUR weakening trend.
For the “retracement trader” this short term strengthening of the EUR could be the start of a trend reversal and this type of trader will be looking for opportunities to buy the EUR.
Again the important thing to look for is fundamental news. Has this temporary strengthening of the EUR results from MAJOR good news about the future of the EUR.
If not, trade like a “With the Trend “Trader and join the trend by SELLING the EUR when this temporary reversal is over.
If the news is strong and very positive for the long term future of the EUR trade like a retracement trader and look for opportunities to BUY the EUR.