In that I believe I have, for all intents and purposes, completed by "research" into day trading foreign currency pairs using Numerical Price Prediction (NPP), and having resolved that I would not recommend swing trading the same, I intend to use this latest journal to track the accuracy (or lack thereof) of how I apply NPP to position trading.
I'm going to begin by comparing my protocol for Forex trading to what I do with respect to Index futures. There, I regard the one- and two-week baselines as relatively short-term/fluctuating measures, requiring entering and exiting positions every few days if used as trigger signals.
For more reliable/valid/stable representations of the longer-term sentiment/bias, I use the eight-, 12- and 16-week measures. (The four-week baseline is too slow to pinpoint entries and exits with precision, but too unstable to convey where price is more than likely headed in the long run.
Conversely, when it comes to Forex, I prefer to use daily rather than weekly charts, with the long-term direction suggested by the 60-day (10- or 12-week?) baseline, and the more actionable intermediate sentiment/bias represented by the 12-day (two-week) measure.
My first look is going to be at USDJPY, which appears like it could be on the threshold of a reversal north after a bearish leg initiated back at the beginning of (or shortly before) the first of November 2022. (The rate is currently below the 12-week baseline, which turned north right around May 19, 2020, and is still just a tad bit bullish.)
I'm going to begin by comparing my protocol for Forex trading to what I do with respect to Index futures. There, I regard the one- and two-week baselines as relatively short-term/fluctuating measures, requiring entering and exiting positions every few days if used as trigger signals.
For more reliable/valid/stable representations of the longer-term sentiment/bias, I use the eight-, 12- and 16-week measures. (The four-week baseline is too slow to pinpoint entries and exits with precision, but too unstable to convey where price is more than likely headed in the long run.
Conversely, when it comes to Forex, I prefer to use daily rather than weekly charts, with the long-term direction suggested by the 60-day (10- or 12-week?) baseline, and the more actionable intermediate sentiment/bias represented by the 12-day (two-week) measure.
My first look is going to be at USDJPY, which appears like it could be on the threshold of a reversal north after a bearish leg initiated back at the beginning of (or shortly before) the first of November 2022. (The rate is currently below the 12-week baseline, which turned north right around May 19, 2020, and is still just a tad bit bullish.)
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