Need help here to demystify this EA

Hi there,

It is me again. Previously I mention whether PA will run up to M4 well after the news it penetrated R1 right now. Well I wish I could have more faith in my system look at the EURUSD it break out after a reversal candle and went pass the green dotted line. That is the projected TP a total of 55 PIPS to bag. But I learn not to be greedy and bag only 20pips. Saw another breakout down for the USDCHF, notice the dotted red line that is the projected TP. And indeed both and hit and went beyond. Both MACD and Stoch was above 0 for EURUSD and USDCHF MACD and Stoch was below 0, Force Index jerk for awhile before it went its way again. Ok I am serious here, I do need help from you guys to confirm this system. Its breakout is so shocking so coincidence.

But I bag 20pips on each EURUSD and USDCHF. USDJPY even though it penetrated pass the support line I did not went in as if you notice it went down quite long before it hit the support line I fear the bears might run out steam so I didn't went in but I use it to confirm the breakout for USDCHF

Notice the Force Index did not hit 0 to confirm a reversal. It meant that the trend might continue but not for me to find out. You guys can try as USDCHF might hit much lower 1.0002 and EURUSD 1.6008 lets see

Erhh... cos it would be good to activate the EA for this unfortuantely times like this are often but prior to this the EA often get fake out as it needs to confirm with Stoch and MACD and making it sure that it is not in overbought/oversold territory. So a few other parameters to consider so I stop using the EA until someone can help me????

Notice the time is 1600 GMT which is about 5pm London time. It is london close. This is a note to myself, a swing point prior to London close another reversal or another trade range to go against the trend. But is it a good idea to play this swing point against the big trend? Lets see I bail out after scalping less then 3 pips each for USDJPY and USDCHF.

A note to myself

Sigh....

I know the signs I know the probability but I just can't kerb my fear that price will go against me... Notice my previous post whether price will bounce against the big trend? It did.... 20 pips each on the jump LOST!!!!!

o well NEXT!!! I'll see you guys later about 3pm EST and lets see if we could catch the New York close swing point.

Hi there,

It is me again. I went to sleep pass 3pm EST in my place the moon is my companion.

Anyway enough of the Shakespearean talk, prior to London open and Tokyo close (now then I notice London open is Tokyo close no wonder there is a swing of opinion) the bears and bulls are fighting for places with the Big Dogs and I manage to scalp a few pips of EURUSD support trendline break notice the red dotted line it is the projected TP (take profit) price fell and then it stalls again, cranked down to 5min chart and notice the spike bail out before PA went to hit the projected TP. (Damn sometimes I really hate myself for this thing call fear...)

The USDCHF went pass the supply/resistance trendline confirm by MACD punching through the trigger line and Stoch crossover before that. Those dotted line are the key to (if you are using this system) to maximise your profit of course have to confirm the end of trend with a leading indicator (which I choose force index after reading Coming into my Trading Room by Dr Alexander, bald headed man who look much older then he writes)

There you have it. Btw today is M2/M4 day for EURUSD M2 is 1.5912, M4 is 1.6096 meaning PA for today might drop to M2 prior to London open and hit M4 later after New York open or vice versa. This have to confirm with readings from CNBC and fundamentals. Overhead EUR inflation rate is rising and the person in charge might raise interest to curb the heat. And this means a drop in EUR?? Maybe just maybe Eur might drop to M2 first...Not sure my decision is a probability gamble.

Hi there,

In terms of crisis I still post prior to London open and Tokyo close, I post this chart to REMIND MYSELF to OBEY MY SYSTEM!!! There is MACD crossover good angle and separation between the red and green line both below 0, Stoch crossover and below 0 and Force Index is below 0. I should have been patience and let it cross the projected line...go in and out for nothing...

My eyes are being affected too much with the colors so I decided to go bar chart. On the 1Hr chart it looks like an imminent kangaroo tail I went in here, but you guys might wanna wait for a MACD/Stoch crossover confirm by a demand/resistance trendline break and also confirm with USDCHF (whether they go the other way) A great buying opportunity maybe but the 50EMA is panning down for a death cross or a crossover with the 200EMA. Lets hope I have yet earn my 100pips.

Look at the 30mins USDJPY looks like a phinoco nose have to wait for the right eyes to form to be confirm as a puppet nose. I would not go in here again need a few other signals to confirm like a Stoch/MACD crossover

hi there,

It is me again, David as mention in the previous post I hope you guys are aware of the old saying buy the dips and sell the rallies. EURUSD has a swing point prior to London close and USDJPY has the nose thingy. It works both are reaping pips for me. Lets see whether New York closing will work against me.

Hi there,

FYI PA did reverse on me after New York closes and I bag my 20pips on my live account but let profit run on my sandbox account but I lose over 60pips on it... Always bag your profits on the same day you trade unless you are a position trader if you are stay away from anything less then 4hr chart.

Actually PA is King as James16 focus on, so today I find out why. Today PA reaction will entirely depends on previous day PA. Meaning the previous day PA was going up, like lets take USDJPY and review. On the daily chart the trend is still down, but on the hourly chart the trend is up and on the 15min chart the trend is still up. So looking at just PA alone this could be a Price continuation pattern. Looking at the ABC where D will go? (A big clue, a golden cross)

My guesses is before london open price might go up (this is provided that there is no negative divergence to price/maybe there is at london open) Like I said all probability lets see whether price will hit the upper resistance line

Hi there,

Today PA reaction will entirely depends on previous day PA. Meaning PA pattern, like lets take EURUSD. On the daily chart the trend is up, but on the hourly chart the trend is up but it looks like it could hit the 200EMA (purple line a possible change of trend) and on the 15min chart the trend is down with good angle and separation between the 2 EMAS (purple and orange, the red and dotted blue, well lets say I am testing what Dr Alexander is using. So looking at just PA alone, this could be a Price downward continuation pattern. Look at the chart pattern it looks like a bear flag in a downtrend. Looking at the ABC where D will go? (A big clue, death cross)

My guesses is before london open price might go down (this is provided that there is no positive divergence to price/maybe there is at london open) Like I said all probability lets see whether price will hit the lower support line

8:00am EUR http://www.forexfactory.com/images/m...mpact_high.gif German Ifo Business Climate Index
8:00am EUR http://www.forexfactory.com/images/m...act_medium.gif German Ifo Business Expectations Index
8:00am EUR http://www.forexfactory.com/images/m...impact_low.gif Current Account

Hi there,

It is me again, David hedging time lets see whether the EUR is stronger then the greenback. Both USDJPY and USDCHF showing sign of overbought, EURUSD show sign of oversold where they will go nobody knows...

Will post my result after this...

Hello,

I hope you guys check my advise with your indicator cause I did. What a swoon in price. My side well lets say my mental conservative side took over and grab my 20pips and stall. Both EURUSD and USDJPY hit their M1 and M4, which is like 100 over pips to grab. Lame...


Ok now to my analysis prior to London open (EURUSD btw). The 50EMA and 200EMAs are still trending down but on the hourly it show sign of rounding off any headed for sideway. But notice the positive divergence of the Force Index to price, this is later confirm by MACD oversold and crossing over the triggerline, Stoch is still above 0. Where would price go???

My guess is as good as yours. But my guess is it might go up cause my wife account almost blown up since yesterday.

This is the hourly chart btw. So place your order on the 15/5min chart to limit your risk.

Hi there,

Should have bail out while I am still earning, apparently EURUSD trend is still down, should have pay attention to the MACD which break the support trendline. Notice the separation between the 2EMAs in the MACD, good angle and wide separation suggesting a downtrend. Also a note to myself don't bail out until Stoch and MACD suggest oversold.

Also in the USDCHF, a note to myself do not bail out as long as there is good angle and separation between the 2EMAs in the MACD also there is no change in resistance line so the trend is still up. Stick to the projected TP unless MACD/Stoch goes oversold.

I always bail out too early due to Force Index touching the 0 level. Bail out only if Force Index goes beyond negative territory. Alot of pips lost because I don't follow my system and I don't trade my plan.

Hi there,

As I am writing this EUR is making a recovery buy the dips in an uptrend folks. Looking at PA it keeps hitting S1. Which is the resistance line at the moment. Once it penetrates you guys can hope on for the ride. Looking at MACD it has yet passes through the triggerline, can wait for caution sake but for me a spinning top and a full body quasi-hammer is enough for me. Beside went back in history to check if there is a support line in current with this. It has but there is another support line below this.

What is your take?

Hi there,

It is me again David, from the last post I hope you place your stop loss quite far cause it pull back hit my stop loss and bounce way out over 40 pips. Now don't you wanna know why? I suspect the broker knew where PA is headed but went down and clear the stop order as they KNOW where their clients place their stops then took off.

Had to place my stop loss as I am working but now usually I play naked cause I don't take risk and my projected is 70% correct....

Ok guys there could be another drop in price for EURUSD as a head and shoulder pattern appear, a rough price project is it might hit S1 again. But I just wanna bag my 20pips again and leave the rest for others.

Lets see if the chart pattern works

Hi there,

It is me again, the fundamentals for EUR and USD is that trade the EUR and counter check with USDCHF as USDJPY today not normal reaction with USDCHF I wonder is JPY picking up?

Anyway if you notice EURUSD will remain in a downtrend in both 1hr and 15min chart. I added TEMA and see how leading it is.

Made this order and this time try to stick with the projected TP unless PA engulf the last candle or when it hit the pink TEMA. Estimated TP is 1.5555 lets see if it reaches there.

Suprisingly it did reach 1.5555 as it reaches M1 not bad for a days work. Will get more pips and see where we go before GBP news is in.

It does not look good as all earnings are in the red zone from last friday lets see if UK makes a come back.

Hi there,

This is just a note for myself that impatience kills. I should have waited for a confluence of events like 3 signals to give me the green like. However MACD and Stoch is still a lagging indicator. So...

A note to myself for this order

1) even though there is a positive divergence to price the overall trend of the EURUSD is still down. So bag your profits and run even if it is small.

2) Even though there is a resistance or trendline break should have crank down to 5min chart to verify its breakout and how far it would have gone before kicking in the order. Also note that MACD show no sign or crossover even though Stoch has shown thus should have waited for MACD to show oversold and crossover.

3) 50EMA and 200EMA good angle and separation trending down, so should have be caution of go against the trend.

Hello,

Lose a few pips until I caught this confirm by MACD crossover for both EURUSD, USDCHF and USDJPY. Beautiful trendline break confirm by MACD crossover and Stoch. However as I am still grip by fear I still bail out very early in all of the trade.

Notice that each pair has a swing point prior to London open? It is always there sometimes earlier...

A NOTE TO MYSELF. TRUST YOUR SYSTEM, PLAN YOUR TRADE AND TRADE YOUR PLAN.

EURUSD has yet hit its M1 which is 1.5496 so EUR will still dwindle down until New York open and USDCHF has yet hit its M4 1.0425 until New York open.

From each breakout is about 30pips average. I should have close out my game earlier. Looks like I have to wait till New York open to close my trade today. Gtg to work. Seeya.

Guys I would really hope if someone out there could help me implement my EA???

B.Regards
David

ps as I am writing this EURUSD and USDCHF is consolidating so I think their exisiting trend will still be going down and up respectively. Wait for a trendline break or a double top / bottom or just keep your trading size small to ride on it.

Should have went out with my family but I didn't. Not only cause a sour between them but I went rollercoaster with EUR today.

Ok a note to myself. This is a classic example of price reversal pattern, notice that MACD is overbought way before London open there is no way price is going up anymore that is why price plummet, the same goes for USDCHF and USDJPY.

Thats it for the day now going out to enjoy my family company. A bitter loss to a stubborn desire.

Sigh...chasing the market was in my system yet I am chasing trend resulting in reducing my equity to almost nil.

It looks like this TD trendline break requires alot more tweaking...damn sian.