{quote} It's for sale on the internet somewhere, I am just testing it out to see if it is viable to use............
Alien's Extraterrestrial Visual Systems
- #21,062
- Sep 17, 2018 4:32am Sep 17, 2018 4:32am
- Joined Jul 2013 | Status: Trader | 2,603 Posts
Outlook for EUR and GBP:
"Amid a broad-based US dollar bullish consolidation in Asia, the EUR/USD pair is seeing some signs of life above the 1.16 handle, which is likely to be short-lived as markets await the announcements of the new US tariffs on the Chinese imports. After being under pressure for most of the week, the greenback recovered a good chunk of the ground lost against most major rivals, amid a return of trade war concerns and upbeat US data. The EUR/USD pair retreated from a monthly high of 1.1721 to close at 1.1622, following headlines that US President Trump, was said to want to go on with tariffs on $200B on Chinese goods, despite talks. Over the weekend, sources said that the announcement could be made as soon as this Monday.
The GBP/USD is drifting upwards in early Monday action, lifting towards 1.3080 ahead of London's week opener with Brexit continuing to hang heavy over Sterling traders. The pair reached peak at 1.3143, but pulled down to finish the week at 1.3068, on the back of news indicating that the Labour party is set to vote against PM May Chequers' Brexit deal. That means that if Conservatives don't support May's plan, the Prime Minister could be ousted before year end. Renewed dollar's demand on the back of trade tensions, kept the pair near the lows reached afterward, with the pair ending the week anyway with solid gains at 1.3068. Adding fuel to the fire, Sadiq Khan, London's mayor, called for a second Brexit referendum over the weekend, as he says that the UK departure for the Union will result in civil unrest. This week, the UK will release inflation and retail sales figures"
"Amid a broad-based US dollar bullish consolidation in Asia, the EUR/USD pair is seeing some signs of life above the 1.16 handle, which is likely to be short-lived as markets await the announcements of the new US tariffs on the Chinese imports. After being under pressure for most of the week, the greenback recovered a good chunk of the ground lost against most major rivals, amid a return of trade war concerns and upbeat US data. The EUR/USD pair retreated from a monthly high of 1.1721 to close at 1.1622, following headlines that US President Trump, was said to want to go on with tariffs on $200B on Chinese goods, despite talks. Over the weekend, sources said that the announcement could be made as soon as this Monday.
The GBP/USD is drifting upwards in early Monday action, lifting towards 1.3080 ahead of London's week opener with Brexit continuing to hang heavy over Sterling traders. The pair reached peak at 1.3143, but pulled down to finish the week at 1.3068, on the back of news indicating that the Labour party is set to vote against PM May Chequers' Brexit deal. That means that if Conservatives don't support May's plan, the Prime Minister could be ousted before year end. Renewed dollar's demand on the back of trade tensions, kept the pair near the lows reached afterward, with the pair ending the week anyway with solid gains at 1.3068. Adding fuel to the fire, Sadiq Khan, London's mayor, called for a second Brexit referendum over the weekend, as he says that the UK departure for the Union will result in civil unrest. This week, the UK will release inflation and retail sales figures"
Per aspera ad astra
- #21,063
- Sep 18, 2018 2:11am Sep 18, 2018 2:11am
new to the system
eur/jpy m5
took this trade a little after frankfurt open
closed early due to price having reached atr and retracing with 3 red lights
edit: looks like that massive drop was due to london open. usd/cad had a similar setup too which had price pull back due to london open but i did not take it. also observed a couple m5 setups during the night, they did not go that far [perhaps this is to be expected though given the time] ..but they would have not have ended in losss if exited by the rules.
so far i am seeing encouraging results from this system
eur/jpy m5
took this trade a little after frankfurt open
closed early due to price having reached atr and retracing with 3 red lights
edit: looks like that massive drop was due to london open. usd/cad had a similar setup too which had price pull back due to london open but i did not take it. also observed a couple m5 setups during the night, they did not go that far [perhaps this is to be expected though given the time] ..but they would have not have ended in losss if exited by the rules.
so far i am seeing encouraging results from this system
- #21,065
- Sep 18, 2018 7:06am Sep 18, 2018 7:06am
- Joined Nov 2012 | Status: Trader | 13,922 Posts
new to the system
Keep practicing, looking good.
In the ADX, for those little white cross over lines, if you change them to the charts background color, it will be easier to read the ADX.
The More You Learn, The More You Earn.....
- #21,068
- Sep 19, 2018 6:37am Sep 19, 2018 6:37am
- Joined Nov 2012 | Status: Trader | 13,922 Posts
The More You Learn, The More You Earn.....
- #21,071
- Sep 19, 2018 9:43pm Sep 19, 2018 9:43pm
- Joined Nov 2012 | Status: Trader | 13,922 Posts
The More You Learn, The More You Earn.....
- #21,075
- Sep 20, 2018 5:23am Sep 20, 2018 5:23am
- Joined Jul 2013 | Status: Trader | 2,603 Posts
{quote} Jpadvisor, may I know what sources of news do you use?
Per aspera ad astra
- #21,076
- Sep 20, 2018 5:32pm Sep 20, 2018 5:32pm
- Joined Dec 2011 | Status: Part-time Trader | 1,519 Posts
Work smarter,not harder
- #21,077
- Sep 20, 2018 8:48pm Sep 20, 2018 8:48pm
{quote} EURJPY Your so called slingshot worked for around 110 pips. You still have adx power in H1 till daily so you could wait for the price to turn around to you profit. {image}
My slingshot did not look right imo as price hadn't really moved by time the ds and rsioma met. but in the examples alien shows price tends to have moved a decent bit by time they meet
It only worked for a large amount of pips because the other timeframes was so bullish. i actually took a daily setup on ej several days before [so knew it was bullish] ...but price dilly-dallied a lot in the next few days and being new to this method i started to doubt my analysis and pulled my trade for a small profit, ....but now price has really taken off since then.
I am still new to this system so i'll probably continue to cock up a bit...., but i think my understanding is improving somewhat
I saw a trade setup yesterday on h1 gpb/usd. The other higher timeframes looked bullish but the pair was reaching it's atr for the day so instead of getting in at the signal i set a limit buy order ...but price never pulled back at all. it shot up like 90 pips ..and then had a bit of a retrace and is now approaching the high again. Looks like I cocked up there,...but you live and learn i guess.
I am intrigued though as to how far price will travel before the 2 red lights come on. i will look at that and work out the profit i "could" have got.
i might just stop the small m5 trades [the ones where i don't line up the other timeframes] and just try for the multi timeframe trades as there is better risk reward. they don't come around as often, but they are definitely better risk reward.....
- #21,079
- Sep 20, 2018 9:40pm Sep 20, 2018 9:40pm
- Joined Nov 2012 | Status: Trader | 13,922 Posts
The More You Learn, The More You Earn.....