Strat's Long Term Stress Free Trading

I'm trying to correlate these 3 pairs: USDCHF, GBPUSD and GBPCHF, and I cant figure who is the follower, the omega, the last one to respond from the three of them. Or they all take turns for the omega role?

I'm trying to correlate these 3 pairs: USDCHF, GBPUSD and GBPCHF, and I cant figure who is the follower, the omega, the last one to respond from the three of them. Or they all take turns for the omega role?

Why?

As of today,

GBPUSD is negative 81.4 correlated to USDCHF

GBPCHF is 57.7 correlated to GBPUSD

GBPCHF is 0.4 correlated to USDCHF

GBPCHF is derived from GBPUSD x USDCHF

Pray tell how you intend to use this information to help you trade better?

my chart is showing me that it has broken the rising trendline.

Mine doesn't but NY still has 11/2 hours to go

I really don't know.
I'm just exploring a "feeling". If we observe PASR for example USDCHF and GBPUSD maybe we can get some advantage on GBPCHF.

How do you put more charts in one window in MT4?

Save your energies and time and focus on PASR and the 95% that does the financial damage.

None of the Professional and Institutional traders that I know use anything like this.

Look to the left to see the MESS that PRICE has to go through

Folks: Just for kickers... no offense intended and comments are all welcomed

I want to point out the following:
The above quote should really read:
I AM HERE TO "EARN" MONEY NOT TRADE
or better "EARN ALOT"! LoL

If someone can "make" money that may mean that they have some sort of apparatus or something that can create/print money. Since none of us (at least I don't) have such a machine then the first statement isn't that valid. I know, I know everyone understand what it means. But I have learned what ya think and what ya say, especially what ya say, will affect your purpose. There are good books that discuss this kinda stuff, ("Money is my Friend" comes to mind).

Hmm ...
What you think and what you say is as important to what you trade. OOO I almost made it rhyme LOL.

Peace
Jess

so we are waiting for the price to go away from this mess to the clear road?

With the exception of GBPJPY, all the other JPY crosses have thrown out IBs - velly intellesting, Confuscious!

And miss out on triple pips?

Thought we were not touching IBs on the path Strat ??

We're not - I was just talking to myself

Actually, it was the charts talking

Well at least you can be assured of a sensible conversation that way Strat!

GBPUSD Monthly shows clear consolidation but includes 2 minor lower highs and 2 minor higher lows. While price is trading in a definite range it's forming a coil if I've ever seen one. Are coils at the monthly time frame that much more explosive when they resolve?

Price and the 20 are both below the 50 indicating lower prices are ahead. In fact, the 20 is steadily drawing away from the 50 indicating increasing momentum to the downside.

Last month's bar was a strong bearish bar but it closed hard on support at 1.6100 indicating the buyers were not ready to let it go free fall. Given that last month was light volume and half of this month is light volume, it's quite possible to see a very wide IB this month when the big boys buy back what the wannabe's sold. However until the december bar is breached it is still in control to the downside.

GBPUSD Weekly tells a different story. It shows a more defined range with price breaking the 20 and momentum actually pointing up. BUT the 50 is catching the 20 so upward momentum is slowing down. A possible indication that the end of the range may be nearing. There is congestion of past price between current price and major resistance at 1.6600 but if the range holds, that is the next stop.

Since the Big Boss tells everyone else what to do, the method tells me that this might be played up to 1.6600 (which is still inside last month's bar) with a trailing stop and probably back down again and then perhaps for the downside breakout.

GBPUSD Daily Price broke 2 important levels today. At today's open, it was in no trade land between the 20 and the 50 on both the daily and the weekly. Today it cleared both of those (at least on my charts). This is a very bullish sign. To me this overrides the 20 being below the 50...a sure sign of slowing momentum. Also the 20 and 50 are coming together, another sign of slowing downward momentum.

I would have gone long yesterday on the BUEB on a successful retest of 1.6100 but it was between the 20 and the 50. Maybe there are situations where it's ok to trade between the sheets? In any case, since price is nearing congestion, there might be another opportunity for entry if price retraces. This one is going to 1.6600 or close to it before its all said in done. At least that's what my rookie trade-o-meter says.

Interestingly enough, the daily does not show as much of a coil as the monthly does but it does show a triangle (tightening range).

Trade Plan for GBPUSD
Near term, I believe this is a buy up to 1.6600. Looking for a suitable price retrace for entry but it may not happen. Once at 1.6600 I'll be looking for PA to enter short. Note: I will also take a PA short entry off the DSRI line provided it does not close above it. That would invalidate the Big Boss and all bets are off at that point.

Long term, this may bounce between the 2 DSRI a couple more times but appears to want to break south.

Hi Mstandifier

I think you have provided a pretty good analysis on GBP/USD. I am too looking at going long GBP/USD, however rahther than 1.66 I have 1.67 as my target.

Hi Strat too, been long time since I post :0, I promisee I be more regular here as this is best thread on forex factory

Hi Mstandifier,

Good analysis. Like Strat said price has to go through the mess, we have to be really discipline to look at the chart and say what a mess and pass unless PA real stands out at the leve worth the risk.

I think you should just focus on trading well and sticking to the rules.

your doctor makes money every day, he does this by applying what he has studied and learnt. he does not focus on making money. he focuses on being a good doctor and the money just follows

Although cable is not really doing anything except cruise between one SR and another these past months I thought that a break through the previous high in this apparant return trip to 1.67 or higher was worth a trade. I realise that this is not classic PASR so expect the usual amount of abuse for this trade entry 16248 stop 16128 very small $/pip.

It really is hard to ignore the way cable seems to drift between these SR's.

Larry