Slingshot setup on GBP/AUD. G pairs are blasting through the roof. Strength is all over the place. {image}
Alien's Extraterrestrial Visual Systems
- #21,509
- Mar 1, 2019 4:10am Mar 1, 2019 4:10am
- Joined Jul 2013 | Status: Trader | 2,603 Posts
Per aspera ad astra 
- #21,511
- Mar 1, 2019 5:54am Mar 1, 2019 5:54am
- Joined Jul 2013 | Status: Trader | 2,603 Posts
{quote} Hi JP thank you. Could you tell us what is your entry point? Is it when 8 stoch turns down?In other words, when does the hook is confirmed?
Alien used this to exit from trades as a sign of exaustion, but I discovered that this can be used also as a sign of inversion or reversal.
I studied this many times and found that it usually pays 100 pips.
To me when you have the double confirmation from Stochs and Adx slopes you can enter, counting a move of 100 from the beginning.
Follow the example of Brent, that ended now. That paid a little more than 100 pips.
Per aspera ad astra
{quote} Hi. I was already in it from yesterday on the long side and closed my trades this morning. Alien used this to exit from trades as a sign of exaustion, but I discovered that this can be used also as a sign of inversion or reversal. I studied this many times and found that it usually pays 100 pips. To me when you have the double confirmation from Stochs and Adx slopes you can enter, counting a move of 100 from the beginning. Follow the example of Brent, that ended now. That paid a little more than 100 pips.
- #21,513
- Mar 1, 2019 11:04am Mar 1, 2019 11:04am
- Joined Jul 2013 | Status: Trader | 2,603 Posts
{quote} I will study it Sir. It can paid 100 pips on H4 tf, how much in smaller tfs? Does it works on smaller tfs too?
Well to answer to your question I used to play this Alien's hook on H1 and there it worth 100 pips. Now I see that on H4 it can give also 250.
On lower Tfs than H1 is not reliable to me.
Per aspera ad astra
- #21,514
- Mar 4, 2019 5:16am Mar 4, 2019 5:16am
- Joined Jul 2013 | Status: Trader | 2,603 Posts
More about the Sterling:
"Sterling will once again be under focus this week as the U.K. government considers bringing another vote to parliament, on the Brexit withdrawal agreement. The next official meaningful vote is scheduled for March 12th, however, certain U.K. publications are suggesting Mrs. May, the U.K. prime minister, might bring the vote forward to this week. It’ll have to satisfy three tests regarding the backstop removal, for her own Tory party opposition to approve it, tests which are unlikely to be gained as concessions from the E.U. Therefore, plan B is still the plan A, which was voted down by a record number in January. Optimism with regards to the U.K. economy wasn’t helped by the U.K. trade body the CBI issuing foreboding statistics on Sunday afternoon, The CBI’s measure of private sector growth dropped to -3 in February, from zero in January. This was its lowest reading since April 2013. “More and more companies are hitting the brakes on investment and day-to-day business decisions are becoming increasingly problematic,” the CBI’s chief economist, Rain Newton-Smith, reported. This warning from the CBI came after stockpiling by U.K. firms reached a 23 year high, according to the IHS Markit manufacturing survey last week. Markit also reported that optimism amongst manufacturers fell to a 27 year low, amongst a backdrop of increasing lay offs, the most since 2013. Car production has fallen by over 18% in January, fuelling fears that once the U.K. exits Europe under any form of Brexit (hard or soft), a slow but relentless exodus of manufacturing will begin to the E.U. On Monday March 4th, the latest Markit PMI for construction is published, there will be concerns that the number could miss the Reuters forecast of 50.5 and come in below 50 signalling contraction, if so sterling could react negatively."
"Sterling will once again be under focus this week as the U.K. government considers bringing another vote to parliament, on the Brexit withdrawal agreement. The next official meaningful vote is scheduled for March 12th, however, certain U.K. publications are suggesting Mrs. May, the U.K. prime minister, might bring the vote forward to this week. It’ll have to satisfy three tests regarding the backstop removal, for her own Tory party opposition to approve it, tests which are unlikely to be gained as concessions from the E.U. Therefore, plan B is still the plan A, which was voted down by a record number in January. Optimism with regards to the U.K. economy wasn’t helped by the U.K. trade body the CBI issuing foreboding statistics on Sunday afternoon, The CBI’s measure of private sector growth dropped to -3 in February, from zero in January. This was its lowest reading since April 2013. “More and more companies are hitting the brakes on investment and day-to-day business decisions are becoming increasingly problematic,” the CBI’s chief economist, Rain Newton-Smith, reported. This warning from the CBI came after stockpiling by U.K. firms reached a 23 year high, according to the IHS Markit manufacturing survey last week. Markit also reported that optimism amongst manufacturers fell to a 27 year low, amongst a backdrop of increasing lay offs, the most since 2013. Car production has fallen by over 18% in January, fuelling fears that once the U.K. exits Europe under any form of Brexit (hard or soft), a slow but relentless exodus of manufacturing will begin to the E.U. On Monday March 4th, the latest Markit PMI for construction is published, there will be concerns that the number could miss the Reuters forecast of 50.5 and come in below 50 signalling contraction, if so sterling could react negatively."
Per aspera ad astra
- #21,520
- Mar 8, 2019 2:43am Mar 8, 2019 2:43am
- Joined Jan 2014 | Status: I think I'm getting the hang of it. | 253 Posts
Some of the trades I took this week. I really love this trading system. I think this works well for me according to my personality and my preferred style of trading. Trading with indicators was something I have always comfortable with. They help me make sense of what price is doing and where it is currently and where it can possibly head or what it can possibly do. I just struggle with naked trading. But off course I make sure to pay attention to price action and S&R.
USD/CAD +60 pips. EUR/USD +43 pips. I could've made +100 pips on both trades if I was only able to monitor them but profit is profit.
AUD/USD running at +66 pips. Any time it might hit TP.
USD/CAD +60 pips. EUR/USD +43 pips. I could've made +100 pips on both trades if I was only able to monitor them but profit is profit.
AUD/USD running at +66 pips. Any time it might hit TP.
Patience and Discipline, these are the Holy Grail.