Supernova GBP/JPY Mini Trend Catcher

Hi a good post, and something i have been searching for is a correlation indicator. Ideally it would show a table with the pairs listed (or perhaps you could select pairs you wish to watch) and timeframes or again the ability to select time frames maybe it would look abit like this

Pair 5min 30min 1hr 4hr day

£/JPY up up up up up
£/USD up up dwn dwn dwn
$/Jpy up up up up up

would save having to look at too many charts. But certainly when certain pairs are in sync then the move is stronger
thank you maybe someone can explore this further




http://www.forex-tsd.com/customavatars/avatar3448_1.gif goldenequity

To those of you who trade the GBP/JPY.....
How many of you did well at the beginning of the week (especially Wednesday)?

If you review your charts, you will find that when the GBP/USD and the USD/JPY are in "sync" it becomes "easy(er)" to trade the GBP/JPY.
When they are arguing with each other and moving opposite each other it becomes difficult.

From a fundamental analysis, look at it this way:

If the "market makers" (i.e."them"/"they") are selling the GBP and buying the USD (only), then the USD/JPY will be moving opposite of the GBP/USD. It makes trading the GBP/JPY very difficult, for obvious reasons.

If they are selling the GBP and buying the JPY, you will see ALL 3 Charts (GBP/USD, USD/JPY and GBP/JPY also EUR/JPY) move together in the SAME direction.

The charts I posted, (within reason) began to synchronize and move the same direction at the same time in the beginning of the week (selling GBP/buying JPY), and strongly reversed on Wednesday(buying GBP/selling JPY), and they became disconnected on Thursday/Friday as the markets focused more on the USD.

They (market makers) were (simultaneously) STRENGTHENING (then weakening on Wednesday) the DOLLAR and the YEN at the expense of the GBP.

When they are strengthening the DOLLAR ONLY, it will be at the expense of the YEN (typically) and the charts move opposite.

To put it simply from the technical analysis side, the best time to trade the GBP/JPY is when the GBP/USD and USD/JPY move in
the same direction.http://www.forex-tsd.com/images/smilies/smile.gif

This is why it is crucial to be able to simultaneously moniter the USD, even if you are trading the GBP/JPY.

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Dont know if anyone can shed any advice (im a bit of a newbie) im using Metatrader(demo) I installed all the files and loaded up the template for this system it all looks great but for some reason no market data seems to be streaming to me anymore, all the prices are just static and the charts have stopped ticking.

Says im connected and ive tried connecting to multiple servers. anyone got any ideas is there a pause and resume button anywhere i havent seen?


Thanks alot

Hallo Dan!

I guess you will have to call your broker (toll-free I hope) and ask them about it. Some brokers have demo accounts that will expire after soandso many days. This is not unique to MT4. Which broker are you using?

Greetz
Gnat

I would check with your broker, also it is US and Cad bank holiday

How dare they hehe

Moin, Cryten!

Right... my sister emigrated to Canada two years ago and is now sunbathing near some lake in Calgary... hmph...

Would you enter any trade today with 35% of the market on holiday?

Greetings from working Europe
Gnat

not the way it's looking today, thought there could be move in london open but it's nearing US open and price is almost at a stand still. I'll take today off trading too! hehe

i tell a lie, just went short eur/jpy 30 min chart

short at 158.15, moved stop to break even, going to work and don't trust the market today so it's a free trade now hehe

LOL !! Just finished lunch - thanks for the cheerup!

cry, do you take the 30mins signals only inside the trading hours?, how about a 1hr signal, what is your opinion and how would you trail the stoploss in a 1hr signal or in a 4hr signal?

Just the facts~

usdjpy x eurusd = eurjpy
usdjpy x audusd = audjpy
usdjpy x nzdusd = nzdjpy

I try to trade only euro and us open but on daily or 4 hour I wouldn't mind. This is my first 30min trade so have no set rules just yet. Been mostly on 5 and 5min charts but with all the bank holidays and the fact I have to work I'm looking at longer term trades too.

CRYTEN ,
Please write here all the values for MANAGETPV34, So we can have the same EA settings... Thx...

I don't use metatrader or any ea.

So you use "mental" stop loss moving?

Yep pretty much, be nice though, getting more tempted by MT4 each day

hi,

i read couple of pages in the begining but couldn't setup my charts ( MetaTrader ). maybe they do not look like as the screen shots attached.

please post a zip file including all the indicators along with the template file .. if possible.

I am new to trading ... and need a teacher.

Closed position at 157.92 for +19 pips out of a max 65 pip move.

good trade with e/j closed with +15 .

and have a question , should i trade when the candles going up but touching t3 line ??? or should wait till it be away from t3 .??

- what about taking only the trades which give signals when MOM(10) cross the zero line from below ( for long ) and cross the zero line from above ( 4 short )

another thing
-try this H.A. indicator with mt4 . i think it looks better and gives a clear shadows .

waiting for ur answer .

the good thing about trailing the stoploss is that avoids losses frequently but the bad thing about trailing it is that many big moves which could end in big profit ends in very small profit, in the case of gbpjpy which retraces a lot, it happens very often, so to trail or not to trail, that is the question, lol.

Cry how would you trail a 1hr signal or a 4hr signal?

at the moment placing my trades and going off to work has been quite good, have stayed in some trades that would have hit my trailstop. with 1 hour and 4 hour I would place trade and let it run for as long as possible. Go in with 0.2 or 2 lots, lock in profit with one and let the other ride.