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AshFX Daily

  • #2,141
  • Aug 17, 2008 1:41am Aug 17, 2008 1:41am
Cad/Yen Ranging Between 102and107.
SS trade long.Good pin at swing low,S/L at 200 pips.
Eur/Aud SS trade short ,coming off weekly resistance.
Good pin at swing high. S/L around 400 pips.
Nz/Usd SS long coming off .69 support and 61.8 fibs.
S/L around 250.
Nz/Usd seems to stand out.
I am not taking any of these,just an observation.
What do you guys consider as too much risk with stop losseshttp://www.forexfactory.com/images/icons/icon5.gif
  • #2,142
  • Aug 17, 2008 5:22am Aug 17, 2008 5:22am
I have done my price action analysis on weekly and daily charts.

I have attached 3 charts: a) longterm weekly the way I see it.
b) weekly chart c) daily chart.

Weekly chart: downtrend, retraced at the 38.2% and now currently resumes its downtrend. Broken the uptrendline.(corrective wave UP). I see HEADS & SHOULDER (H&S)PATTERN and done some fib expansion and fib extension studies for potential profit targets. THE very longterm P/T coincies with the H&S target projection of ~$75.00-$77.00. Let us see what happens. P/T cluster of FExpansion(61.8%) and FExtension(161.8%) of ~$90.00 is shown.

Daily chart: The AshFX SS signal is a retracement of the downtrend. The R:R and resistance seen does not indicate a good trade.

Comments welcome,
LR
Attached Image(s) (click to enlarge)
Click to Enlarge Name: long term wkly cadjpy.gif Size: 23 KB
Click to Enlarge Name: wkly cadjpy.gif Size: 20 KB
Click to Enlarge Name: dly cadjpy.gif Size: 26 KB
  • #2,143
  • Aug 17, 2008 6:29pm Aug 17, 2008 6:29pm
Question about stops:

One part of the PDF says use the candle's high/low as the stop, another part says use the swing lo/swing hi as the stop, these are potentially two different price points, so which do we use?
  • #2,144
  • Aug 17, 2008 10:38pm Aug 17, 2008 10:38pm
Quoting truthy
Question about stops:

One part of the PDF says use the candle's high/low as the stop, another part says use the swing lo/swing hi as the stop, these are potentially two different price points, so which do we use?
If you read the manual again the answer is there. There are two kinds of trades and each has a different stoploss . There is plenty of post in this thread that explains it.

If still cannnot work it out, ask again.I am only trying to promote better self learning not trying to be difficult.

LR
  • #2,145
  • Aug 18, 2008 2:19am Aug 18, 2008 2:19am
Ah alright, that was what I thought but I wasn't sure because using 2 different stop losses seems kind of strange. In any case I will manually backtest this system and suit it to my own needs before trading it.
  • #2,146
  • Aug 18, 2008 2:44am Aug 18, 2008 2:44am
Quoting truthy
Question about stops:

One part of the PDF says use the candle's high/low as the stop, another part says use the swing lo/swing hi as the stop, these are potentially two different price points, so which do we use?
Yes read the manual. There are 2 differerent trades. Ash Daily and Second Strength.
  • #2,147
  • Aug 18, 2008 5:39am Aug 18, 2008 5:39am
morning,
kiwi and euraud running.

grüße aus Berlin Kittiman
  • #2,148
  • Aug 18, 2008 7:11am Aug 18, 2008 7:11am
I'm still short on this. I could exit now, because Stochs have crossed up and AC is green, but I don't have a valid PA reason to, hence I'm sticking to the rules and will exit once AO closes as green.
Attached Image (click to enlarge)
Click to Enlarge Name: cable_ashfx_august_short.gif Size: 30 KB
  • #2,149
  • Aug 18, 2008 7:38am Aug 18, 2008 7:38am
hi Ash,
eurchf good idea,running.

grüße aus Berlin Kittiman
  • #2,150
  • Aug 18, 2008 7:46am Aug 18, 2008 7:46am
Quoting forexmoments
I'm still short on this. I could exit now, because Stochs have crossed up and AC is green, but I don't have a valid PA reason to, hence I'm sticking to the rules and will exit once AO closes as green.
nice work ash. you would have made +/- thousand pips there.
i think eur/aud and nzndus are still looking good ahead
We Win Some, We Loose Some, But Let your Win Rates be More to be Successful
  • #2,151
  • Aug 18, 2008 8:09am Aug 18, 2008 8:09am
uscad is looking nice.is there any hope for few hundreds pips?
Attached Image (click to enlarge)
Click to Enlarge Name: uscad.gif Size: 71 KB
We Win Some, We Loose Some, But Let your Win Rates be More to be Successful
  • #2,152
  • Aug 18, 2008 8:48am Aug 18, 2008 8:48am
Quoting kittiman
hi Ash,
eurchf good idea,running.

grüße aus Berlin Kittiman
Hi Kittman,

Yeah, my long call on the Eur/Chf last night was pretty much a no-brainer. I had a stop of just 10pips, so I've already made a killing.
  • #2,153
  • Aug 18, 2008 9:36am Aug 18, 2008 9:36am
Quoting adeforex
uscad is looking nice.is there any hope for few hundreds pips?
I am short on that pair....
  • #2,154
  • Aug 18, 2008 9:50am Aug 18, 2008 9:50am
Ohhhhhhhhhhhhhh
I think i forgot main rule....have to wait for the candle to close....
  • #2,155
  • Aug 18, 2008 11:17am Aug 18, 2008 11:17am
Quoting leņador
Ohhhhhhhhhhhhhh
I think i forgot main rule....have to wait for the candle to close....
well,it appears to be ss trade, but if you have the got, you may hang in till new candle opens.the market has been ranging from 8th of aug, but it was able to move down by around 50pips before retracing,in a couple of days ahead, i think it can still go down by 300pips.(just think so)
due to strong support clustering around fibo 61.0
please ,let the analyst do their work.
eur/aud has moved more than 100pips since new candle but currently retracing back, but i think it will continue to go down in the couples of days.
Attached Image (click to enlarge)
Click to Enlarge Name: uscad.gif Size: 72 KB
We Win Some, We Loose Some, But Let your Win Rates be More to be Successful
  • #2,156
  • Aug 18, 2008 11:22am Aug 18, 2008 11:22am
hu,hu,hu
eurchf ts-closed +18.

grüße aus Berlin Kittiman
  • #2,157
  • Aug 18, 2008 12:12pm Aug 18, 2008 12:12pm
Quoting adeforex
well,it appears to be ss trade, but if you have the got, you may hang in till new candle opens.the market has been ranging from 8th of aug, but it was able to move down by around 50pips before retracing,in a couple of days ahead, i think it can still go down by 300pips.(just think so)
due to strong support clustering around fibo 61.0
please ,let the analyst do their work.
eur/aud has moved more than 100pips since new candle but currently retracing back, but i think it will continue to go down in the couples of days.
Thank you adeforex, I am also short in EURAUD....
Hopping for the good pips....
  • #2,158
  • Aug 18, 2008 12:43pm Aug 18, 2008 12:43pm
Anyone think that cad/jpy is a long trade here for 106.30/44 as TP. Thanks
  • #2,159
  • Aug 18, 2008 1:08pm Aug 18, 2008 1:08pm
Quoting sharon_gpl
Anyone think that cad/jpy is a long trade here for 106.30/44 as TP. Thanks
Have you seen post 2142?

LR
  • #2,160
  • Aug 18, 2008 1:52pm Aug 18, 2008 1:52pm
Quoting adeforex
well,it appears to be ss trade, but if you have the got, you may hang in till new candle opens.the market has been ranging from 8th of aug, but it was able to move down by around 50pips before retracing,in a couple of days ahead, i think it can still go down by 300pips.(just think so)
due to strong support clustering around fibo 61.0
please ,let the analyst do their work.
eur/aud has moved more than 100pips since new candle but currently retracing back, but i think it will continue to go down in the couples of days.
I have done some price analysis on wkly and daily charts. I personally would wait to follow the Ashfx rules and see the candle at the EOD.Price has bounced off(down) from the resistance we see on the weekly. The next day or so will tell it all. I agree with your Cluster of support zone.
LR
Attached Image(s) (click to enlarge)
Click to Enlarge Name: wkly usdcad.gif Size: 27 KB
Click to Enlarge Name: dly usdcad.gif Size: 24 KB
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