My heatwave currency strategy explained!
Many people are a bit confused with my heatwave strategy as it is unorthodox yet so simple it blows my mind more people are not aware. Gurus may fade away from this strategy because if the sheer simplicity, which in turn may not convince many. GIVE IT A TRY!
I picked AUD/USD for my example as AUD has been very weak against USD for the majority of the week, especially today. My reference mobile app is called “currency heatwaves”. It presents the strength of each major currency at any given time of the day. ( EUR, CAD, CHF, USD, JPY, GBP, AUD, NZD.
At the start of my trading day I will view the strength using this app and I will then read the news on the individual currencies to get an idea of the overall strength for the day to avoid the currencies that will be volatile throughout the day. With the dollar on the rise and the AUD on a steady downfall it was a no brainer to hop right into a sell trade.
Indicators and such are just assurance for this style of fundamental trading as all the info is presented for you. Research the overall trend direction of the individual currency, map your support/pivots/ and resistance points, regularly check the heat map (do not panic when you see the map go amuck at the beginning of each hour it will readjust back). The map will stay true through pullbacks so FOLLOW THE RULES and this strategy will play out. Great way for beginners to become acclimated with he FOREX community.
P.S NZD/USD was another pair I traded today strictly off my heat wave strategy. Looking at the news for NZD against the dollar was a no brainer sell.
I picked AUD/USD for my example as AUD has been very weak against USD for the majority of the week, especially today. My reference mobile app is called “currency heatwaves”. It presents the strength of each major currency at any given time of the day. ( EUR, CAD, CHF, USD, JPY, GBP, AUD, NZD.
At the start of my trading day I will view the strength using this app and I will then read the news on the individual currencies to get an idea of the overall strength for the day to avoid the currencies that will be volatile throughout the day. With the dollar on the rise and the AUD on a steady downfall it was a no brainer to hop right into a sell trade.
Indicators and such are just assurance for this style of fundamental trading as all the info is presented for you. Research the overall trend direction of the individual currency, map your support/pivots/ and resistance points, regularly check the heat map (do not panic when you see the map go amuck at the beginning of each hour it will readjust back). The map will stay true through pullbacks so FOLLOW THE RULES and this strategy will play out. Great way for beginners to become acclimated with he FOREX community.
P.S NZD/USD was another pair I traded today strictly off my heat wave strategy. Looking at the news for NZD against the dollar was a no brainer sell.
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