Trading with Algos | Forex Market Mondays

StatsEdgePro

Welcome to another edition of Forex Market Mondays, where I share my insights on the Forex, crypto, and metals markets. At StatsEdge Trading, I focus on combining statistical analysis with technical chart setups to make informed decisions. It’s about finding that balance—using numbers to back up trade ideas while applying a logical, discretionary approach.

This week, the Dollar Index (DXY) is bouncing off support, but I'm watching for a potential breakdown after several tests of the 100-101 level. In crypto, Bitcoin's cup-and-handle pattern remains intact, and I'm still holding a position. Meanwhile, specific setups in Australian Dollar/Canadian Dollar and New Zealand Dollar are catching my attention for their statistical potential, supported by backtests spanning years.

The key takeaway here is to not rely on statistics or technicals alone. Use a combined approach to improve your trading odds, and always reassess the trade when alerts trigger.

Key Takeaways:

1. Statistical Backing: I focus on trades where there’s historical data showing better-than-average outcomes.

2. Technical Validation: I apply my own analysis to confirm if a trade setup looks strong on the charts.

3. Upcoming Opportunities: Watch the Aussie Dollar/CAD and New Zealand Dollar for potential entries at key levels.

As I continue refining these Forex algorithms, I’ll keep updating you on my progress. Stay tuned for more insights, and if you're looking for automated alerts, check out the StatsEdge Pro service.