| Hi Folks
Yesterday I sent out an email letting you know about Cynthia Macy's new Currency Strength Meter, and in that email I discussed a way to trade the news during this upcoming summer so that you might put yourself in the best position possible to make some pips during a time when pips might be a little tough to come by.
I got a couple of emails back from folks who asked if I could put together a video and demonstrate how that method works, so I shot a quick video using WTICrude Oil as an example.
The video is posted here: https://www.youtube.com/watch?v=o3d-vy6F2ms
As it happens, that same oil number comes out tomorrow at 11 a.m. eastern if you happen to near your platform and want to watch this method in action.
As I mentioned in the video, if you trade regular news reports that are designed to move Forex pairs around (as opposed to crude oil or gold) you ought to consider adding Cynthia's Currency Strength Meter to your toolbox.
Just because a pair shows some life post news does not necessarily mean it will continue moving into the immediate future. The CSM does a good job of weeding out those trades where both currencies are mired in the middle of the pack instead of being a situation where one currency is very strong and the other is very weak.
Avoid trades where both currencies are middle-of-the-road. If news comes out and neither currency shows signs of wanting to exert dominance over the others, pass the trade and wait for the next news event.
If you haven't checked out her CSM, you can find it at: https://jvz6.com/c/43106/330717
I'll try and get another video shot this week showing how the news, the pairs and the CSM can work together, so keep an eye out for that.
Jeff
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