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GBP/USD daily pip movement vs. EUR/USD daily pip movement 3 replies

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AshFX Daily

  • #1,101
  • Jul 10, 2008 5:15am Jul 10, 2008 5:15am
Not sure why oh why...still new to this system.

How long can aud.cad move sideways!
  • #1,102
  • Jul 10, 2008 5:23am Jul 10, 2008 5:23am
Quoting Why Oh Why
The EA is long gbpchf and I've been waiting for the last 12 hours to see if anyone confirms a short loonie, EA or otherwise. No one has. The EA opened both trades at the same time. Anyone short usdcad currently please? Full details in my signature. FXDD account.
I would think manual traders would not have taken the loonie trade because;
Quoting forexmoments
Guys, my advice would be NOT to take USD/CAD. Look at USD/CAD on a Daily. It's been ranging horribly over the past few days. In addition, todays red candle is way too long meaning the initial TP would be just as long.

So yes, even though it qualifies for a signal, I always look at recent price action (and this is where discretion comes into trading).
  • #1,103
  • Jul 10, 2008 5:42am Jul 10, 2008 5:42am
Ronnie,mtaonweb or any other programmer can you please kindly code an indicator for Ash's signal both for the Original and the SS.
  • #1,104
  • Jul 10, 2008 5:45am Jul 10, 2008 5:45am
Quoting nvwine
I would think manual traders would not have taken the loonie trade because;
And helpful as always. Cheers mate. I looked but did not see.
Do not focus on making money; focus on protecting what you have.
  • #1,105
  • Edited 7:19am Jul 10, 2008 6:48am | Edited 7:19am
Current manual AshFX situation:

CAD/JPY second trade hit stop loss and broke even

USD/JPY long +12 pips SL 104.950 TP 107.662 (both trades open)
EUR/CAD short +37 pips SL 1.61860 TP 1.58356 (both trades open)
GBP/CHF long +2 pips SL 2.02010 TP 2.05089 (both trades open)

Keep in mind my SL's include Oanda spread.

Possible trades for tomorrow:

GBP/JPY long SS (caution: lot's of doji, possible reversal, but maybe we will get a PSAR signal if there's a small rise in price, uptrend since 18th March. I'll probably stay out of this one even if there is a signal. Too much indecision over the last month.)
  • #1,106
  • Jul 10, 2008 7:56am Jul 10, 2008 7:56am
Guys... sideways shit today. Looks like something will soon happen. I am tired of watching these charts. Just that I wanted to collect my pips and head of to beach with my girlfriend. Ooooooops. Someone please ring Benarnke
  • #1,107
  • Jul 10, 2008 8:35am Jul 10, 2008 8:35am
Im on a real account with: AUDCAD and GBPCHF. Let AshFx_Daily do its job!
  • #1,108
  • Jul 10, 2008 8:38am Jul 10, 2008 8:38am
Quoting trustGod1234
Guys... sideways shit today. Looks like something will soon happen. I am tired of watching these charts. Just that I wanted to collect my pips and head of to beach with my girlfriend. Ooooooops. Someone please ring Benarnke
same here!!

sonic
  • #1,109
  • Jul 10, 2008 9:03am Jul 10, 2008 9:03am
Quoting mtaboneweb
Also, whenever a trade is entered it's determined by the completed bar before it and that shouldn't change which is why we wait for the bar to be completed.
I totally agree with you on that.
  • #1,110
  • Jul 10, 2008 9:39am Jul 10, 2008 9:39am
I will try this system with Stocks also


Just see one signal to #VZ (Sell)
  • #1,111
  • Jul 10, 2008 9:44am Jul 10, 2008 9:44am
No-one worried GBP/CHF is on its way down? I know the SL is set quite wide on this trade...but no-one worried? I've been making small long's along the way banking some small profits, but initial trades still in red. Everyone still holding?
  • #1,112
  • Jul 10, 2008 9:47am Jul 10, 2008 9:47am
Quoting Damon123
No-one worried GBP/CHF is on its way down? I know the SL is set quite wide on this trade...but no-one worried? I've been making small long's along the way banking some small profits, but initial trades still in red. Everyone still holding?
GBPCHF; AUDCAD Running...
Ash, what is going to happen in the next few hours?
  • #1,113
  • Jul 10, 2008 9:59am Jul 10, 2008 9:59am
All three trades from last night are down. However, you need to look at these trades in context with the other profitable trades that this system has so far produced. No system is 100% correct all of the time. The thing I am looking for is a system that is profitable on a monthly basis taking into account the winners and losers.

One thing I would say is that the stop loss, specially on these SS trades, is large. That does concern me a little.

Also, quite often after "banking" the first TP the trades retrace to the BE SL.
James The Beekeeper
  • #1,114
  • Jul 10, 2008 10:02am Jul 10, 2008 10:02am
I am holding GBP/CHF for a better exit point...daily to me looks very range bound and sooner or later we'll see a better price
  • #1,115
  • Jul 10, 2008 10:06am Jul 10, 2008 10:06am
Aud/Usd sell



Any one else still houlding this trade any veiws on it ?



I am still holding from monday

Not looking good at the moment! S/L is at 0.9669 today it it touched 0.9637
AC is grean and sar is below candle.
  • #1,116
  • Jul 10, 2008 10:06am Jul 10, 2008 10:06am
Quoting jcllosag
GBPCHF; AUDCAD Running...
Ash, what is going to happen in the next few hours?
My crystal ball is foggy...swami says to watch
  • #1,117
  • Jul 10, 2008 10:11am Jul 10, 2008 10:11am
Quoting Damon123
I am holding GBP/CHF for a better exit point...daily to me looks very range bound and sooner or later we'll see a better price
Got to agree with you there. Looking back, Ash decided not to take the USD/CAD trade because it looked to be in a range (and because of the long daily candle) and if anything GBP/CHF looks to be in a tighter range than that.

Personally, I would prefer just to take the trade rather than have to rely on the recent price action but I guess thats not a particularly "intelligent" way to go. It does add a level of subjectivity to trade selection though.

James
James The Beekeeper
  • #1,118
  • Jul 10, 2008 10:14am Jul 10, 2008 10:14am
Quoting logic38
Aud/Usd sell



Any one else still houlding this trade any veiws on it ?



I am still holding from monday

Not looking good at the moment! S/L is at 0.9669 today it it touched 0.9637
AC is grean and sar is below candle.
Second part of that trade hit the revised stop on my system - so out for a total of +71 pips!
James The Beekeeper
  • #1,119
  • Jul 10, 2008 10:18am Jul 10, 2008 10:18am
Hi Ash or anybody,

I am sure that i am right tha the T/P for Eur/Cad is 1.5840 =
high of previous candle = 1.6005 minus
close of previous candle = 1.5922 = 83 pips

Open price = 1.5924 minus 83 pips = 1.5841

Thanks
Paul
  • #1,120
  • Jul 10, 2008 10:18am Jul 10, 2008 10:18am
Yes I agree...I always look at trend lines and general price movement too. Best way really. That and couple it with another system like Ozfx If both point to the same pair movement...its definately worth a shot!

USD/CAD was an Oz signal, but aud/cad wasnt... USD/CAD pair going the right way, maybe aud/cad will follow soon...I hope

Aud/CAD long term is a bit tricky...its got a double top resistance level at 9800...but long term trend is up. Now its a case of whats stronger. Weekly chart looks like it might come down a bit in the future, but I dont like holding pairs like aud/cad for long because of the swap...itll kill you in interest payments just to stay in the position.

Ashfx whats your take on aud/cad and gbp/chf?

Cheers
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