Momentum and StochRSI system

momentum still above ema100 on monthly TF
target still reachable

SMA100(current value 0.9072) retest if holds bigger impulsive wave toward 0.81-0.82 area is expected in the first place,
Next possible extension to LT and 261.8% target which would have been 61.8% retracement of whole wave.

Gold price is crucial here i make some analysis later.

Gold vs USD is in rather correction move than impulsive one.
Retest of 1000$/oz is likely scenario.
Too early to say something more here, stoch still in bear zone so long from this level is risky imho.

On mothly TF uptrend is remaining very strong but i see first sign of overbought market.

Very important is also gold price in EUR which makes record high at 830€/oz pas week. However this does not mean it could not goes higher in long term scope.Actually i think gold might hit 1600$/oz(this is 268.1% FE projection on monthly chart) before really big correction might occur if any...


I do not recommend to sell gold because its highly risky counter trend game.

I am taking another shot here ,
Good setup double top on bearish div with retest of bull zone border.
Also near 161.8% FE target.

Sorry guys...

My mind is strongly bullish on yen and bearish on pound but
i cannot ignore a few things.

- gj tanked from 163 to 135 but VIX still near 20 !
- gj tanked, stocks did not (thats why VIX is at 20)
- weekly bullish divergence on gbp/chf and gbp/jpy
- gj and gc hit 61.8% fibo retracement
- new fiscal year and government in Japan (this might change monetary policy in 180 degree)
- possible SNB intervention - they dont want strong CHF

i switched all my open trades to gbpchf as the best choice for me out there
according to these all things.
i will catch gj later, currently i am not convinced enough that is a bottom.


Charts below showing bullish divergences, if these divs would played out then monthly stoch's escape from bear zone occur in both cases.



Have a nice rest of anything u like
This was my last prediction on this board,

last advices :

if u are daytrader/scalper
: use even half margin but SL set to 3% max
: after 5 min set SL to BE or close trade
: TP 6%-12% or 5 min (intraday pivots S/R)
: avoid news trade - it is gambling


if u are long term trader
: always follow weekly/daily trend never against
: add positions on retracement(retest of broken support/res) near emas 14/50/200 preferably or fibs 61.8 76.4
:never catch botttom/top in most cases there is a retest (double top/bottom)
:TP partial on 1.61% fibo or emas of bigger TF if exist.
: when adding position to existing one (scaling) never add bigger position than the first one unless u use scalp rules (5 min then BE)
: be aware of stock market sentiment and join to carry trade, in carry trade there are whole our money from taxes, retirement funds and so on join to them.


hedge trader is similar to longterm trader but

: never invest more than 0,01% for single position (calculate proper value to avoid margin call, u have to hadle 1000-2000 pips even in both sides, so after 2000 pips drawdown u are still able to buy/sell for same amount )
: close position only if u really need money or if u identify range
: earn with carry traders
: never use SL - hedge



GL & GT

Fiber first check my last charts on previous page for review.
http://www.forexfactory.com/showpost...&postcount=690
Well i am very glad that movement in 99% was predicted by system.
Only mistake was that "I saw" a little bit correction first in February - actualy it was a little retrace but flat.
I can live with that

Cable no comment please

just check charts
http://www.forexfactory.com/showpost...&postcount=691

Is this system trade able on Hour and 15min, or have you have u traded it at these TFs.

Here i am not sure at the moment what will be next,
I still see some downward movement in UJ which drags GJ na GC down but this is my guess not system involved.

Uj might start bull run now or hit double bottom, too early to say that thats why i am on sideline right now for these pairs.
I will let u know when picture will be brighter with global economy and equities.

Well, here i cannot defend myself it was pure CB speculation to drive EUR down then buy at discount.

After all prediction was against basic rules there was no bullish div even on daily TF

And the second rule : dont go long when stoch is flat in bear zone...
and worth to note dont trust SNB

Lesson learned i hope

As espexted more or less now at support let see how strong it is
On monthly TF there is still NO bear div.

similar story to both ec
here full bear control it's been since november 2009...

no comment please i will be more careful nex time.
If EU zone will recover fromthis PIGS issue the health range for both economies is 1.54-1.74 and this should be equilibruim point in following months.


Aussie hit target after test of highs again which was possible after SMA100 breaks(see in previous post)
Anyway on daily there is support and retrace due, on weekly we need one more confirmation of bearishnes.

Is this system trade able on Hour and 15min, or have you have u traded it at these TFs.

i saw ur post earlier relax mate.

It could be apllied on lower TF just look for it in this thread. I presented many trades during 2008.Everything u asked is here.
This system requires very good trading knowledge in overal
It is not designed for beginners and also not designed fot daytrading.

This system predicts reversal and trend continuation mainly on bigger TF and for your safety i prefer to remain like this

ukcool

here is good setup for euraud

clear bearish divergence

but if u want to take short first wait for aussie data and cash rate.

hi 5ysfx

interesting system u have.... i dont know how i missed it earler

i will go thro. the thread from page 1..

keep the good work going

jay

5y,
thanks for sharing the most encouraging system. and also to arezeb for the mt4 stuff. I am testing on demo account and very encoouraging.

@jaydc and unclek6

Thanks guys i appreciated a lot.
Later i will attach alternative version of the template, it appears like charts above.
I think EMA50 and EMA200(EMA50 on higher TF) is the must and should be enough to draw correct support/resistance zones.


BTW aussie is doing nicely so far, 200 pips left to first major resistance.

First post was updated, if someone is interested is in there.
Final version of template for MT4 has been attached.

GL

Ok buddy, let see what it does on the 15m.