CICR system (Currency index cross referencing) | Page 14 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Long Term CICR (Cross index currency referance) trading 240 replies

Intraday CICR (Cross index currency referance) trading 22 replies

Dyekid217 Trading relative strength and CICR 0 replies

Referencing Indicator Arrays. 4 replies

IB referencing to my account 12 replies

Attachments: CICR system (Currency index cross referencing)
Exit Attachments

CICR system (Currency index cross referencing)

  • #261
  • Oct 10, 2011 6:28am Oct 10, 2011 6:28am
yes, I couldn't agree more... .. realisticly...

Quoting M.A.C.Doug
Thats an excellent return - over 10% in a single day!
I really dont think you will be doing this everyday. Today was the market open after a positive nfp and more qe announced last week. Risk is back on bigtime. Like I said - a perfect storm.
  • #262
  • Oct 10, 2011 6:30am Oct 10, 2011 6:30am
please can anyone guide me on profile creation of each lfx.thank
  • #263
  • Oct 10, 2011 6:37am Oct 10, 2011 6:37am
Quoting leekaq
+1000 pips and counting for today's trade ..OMG..Look at the USDCHF..easy 120 pips
Nice job leekaq! What approach did you use? I mean, what TF's and what were the decisions you took when entering these trades? Thanks!
A good trade is when I Break Even. A great trade is when I Take Profit.
  • #264
  • Edited 7:40am Oct 10, 2011 7:00am | Edited 7:40am
Quoting M.A.C.Doug


Hmmm - I must have got it wrong somewhere
I missed out the part where you look at the daily first to get rsi coming out of overbought/oversold. I just saw the arrows lining up when I got my template set up and started trading. No harm done, risk was managed and Ive locked in breakeven on them all. I think the AUD/USD and EUR/USD positions are good breakout/trend continuation trades regardless.

Attached Image (click to enlarge)
Click to Enlarge Name: cicr_template.png Size: 134 KB
BTC Return This Year: na
  • #265
  • Oct 10, 2011 7:02am Oct 10, 2011 7:02am
Quoting M.A.C.Doug
I missed out the part where you look at the daily first to get rsi comming out of overbought/oversold. I just saw the arrows lining up when I got my template set up and started trading. No harm done, risk was managed and I closed out the crosses for a small profit. I am keeping my AUD/USD and EUR/USD positions as they are good breakout/trend continuation trades regardless.
There's also a 4H approach as far as I understood from post one...
A good trade is when I Break Even. A great trade is when I Take Profit.
  • #266
  • Oct 10, 2011 7:25am Oct 10, 2011 7:25am
Hi Cornelius, as mentioned by Doug, I could have caught a perfect storm today. As for setup, just follow strictly on post#1. I hv compiled and printed out for my own reference as below. BTW, pips counter now at +1100...

CICR Rules:
1. We will be tracking individual currency index and doing all our analysis on the index using RSI, MACD system.
2. TF used:
a. D1 – check for candle pattern, MACD level
b. H4 - use H4 to determine entry, MACD level
3. Look for currency indexes where all the RSI arrows are pointing down/up from H1 to MN timeframe. RSI3 should pointing down and coming down from above 70 or going up from below 30. Minimum setup is with all 3 RS1 for D1, W1 and MN.
4. Once we know an index’s trend and entry signal, open the related currency profile which consists of all related pairs.
5. Trade only the currency pairs :
a. with RSI reading where all timeframes are in the same direction and ensure prices start trading above the filter line (sell)
b. MACD start to cross up/down ZERO level.
Note: If an individual index gives reading where the daily and weekly rsi is in the same direction but the monthly is not, go ahead and check the profile for that currency to see if any currency pair is showing a reading where daily weekly and monthly are in the same direction.



Quoting Cornelius
Nice job leekaq! What approach did you use? I mean, what TF's and what were the decisions you took when entering these trades? Thanks!
  • #267
  • Oct 10, 2011 7:31am Oct 10, 2011 7:31am
Quoting Cornelius
There's also a 4H approach as far as I understood from post one...
My understanding is that Capito enters and manages the trade using the 4 hour chart after:

1. RSI is coming out of overbought/sold on a daily chart

2. RSI direction lines up on Daily, Weekly and Monthly charts

The system actually attempts to pick turns on the daily chart and gets in early enough for big pip gains on the next swing. Of course, there wont always be big pip gains or even any pip gains. How good the rsi indicator is in determining momentum and predicting direction remains to be seen
BTC Return This Year: na
  • #268
  • Oct 10, 2011 7:39am Oct 10, 2011 7:39am
.todays gains so far
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf h4.jpg Size: 239 KB
  • #269
  • Oct 10, 2011 7:41am Oct 10, 2011 7:41am
Kicked myself for leaving early.. anyway i have managed to get into for some gains.

OK firstly Leekaq... AWESOME.... great stuff.

Now for other queries.
Before i answer any queries read POST1 very carefully also the update on post 1.

Secondly, a lot of times market expects us to react, which we don't.

A lot of you might find my approach very conservative, but please understand i need to be as i manage others money and real accounts. So you might find it very irritating.
However read the post 1 update and you would have taken the chf break out today for sure.

When the daily, weekly, mn comes in one direction and the daily rsi is moving from overbrought to oversold or vice versa it puts in a win win situation.

Similiarly when the daily and weekly comes in one direction and mn is not in line, you need to use ur basic understanding of price action and make some quick gains if you see it.

Thanks
  • #270
  • Oct 10, 2011 7:49am Oct 10, 2011 7:49am
Quoting leekaq
Hi Cornelius, as mentioned by Doug, I could have caught a perfect storm today. As for setup, just follow strictly on post#1. I hv compiled and printed out for my own reference as below. BTW, pips counter now at +1100...

CICR Rules:
1. We will be tracking individual currency index and doing all our analysis on the index using RSI, MACD system.
2. [color=black][font=Verdana]TF...
perfect instructions to follow to the letter n keep availing dollars
  • #271
  • Oct 10, 2011 8:05am Oct 10, 2011 8:05am
Quoting aggravator87
What do you mean? That when looking at the month chf graph you don't find reasons for many short chf trades due to the consistent chf appreciation???

Sorry if i have said monthly graph, i meant the monthly CHF candle.
  • #272
  • Oct 10, 2011 8:29am Oct 10, 2011 8:29am
Quoting leekaq
Hi Cornelius, as mentioned by Doug, I could have caught a perfect storm today. As for setup, just follow strictly on post#1. I hv compiled and printed out for my own reference as below. BTW, pips counter now at +1100... [/font][/color]
Thanks for your reply, leekaq. But, I asked you the approach you used on your scalping mode (post 251).
A good trade is when I Break Even. A great trade is when I Take Profit.
  • #273
  • Oct 10, 2011 8:32am Oct 10, 2011 8:32am
Quoting availdollars
.todays gains so far
I took positions on GBP/CHF and EUR/GBP ..where all your trades prompted by CICR?
Attached Image (click to enlarge)
Click to Enlarge Name: wr_chf1b.gif Size: 21 KB
  • #274
  • Oct 10, 2011 8:39am Oct 10, 2011 8:39am
Quoting leekaq
Hi Cornelius, as mentioned by Doug, I could have caught a perfect storm today. As for setup, just follow strictly on post#1. I hv compiled and printed out for my own reference as below. BTW, pips counter now at +1100...

CICR Rules:
1. We will be tracking individual currency index and doing all our analysis on the index using RSI, MACD system.
2. [color=black][font=Verdana]TF...
For step 5a do you look for price behind the filter line on all TFs?
  • #275
  • Oct 10, 2011 8:49am Oct 10, 2011 8:49am
Capito you have generously provided a missing edge ..many thanks, will be looking carefully at the monthly candles
  • #276
  • Oct 10, 2011 8:52am Oct 10, 2011 8:52am
  •  regme
  • | Joined Mar 2010 | Status: Planning to be like Warren Buffett | 115 Posts
Gr8 work. Keep it up.
Happy Pips for every body.
  • #277
  • Oct 10, 2011 9:03am Oct 10, 2011 9:03am
Quoting mcrawfy
I took positions on GBP/CHF and EUR/GBP ..where all your trades prompted by CICR?
That's a nice looking picture, kudos n keep digging
  • #278
  • Oct 10, 2011 9:14am Oct 10, 2011 9:14am
Quoting availdollars
That's a nice looking picture, kudos n keep digging
Thanks, I meant to say were all your trades prompted by CICR? You saw a lot more opportunities than I did.
  • #279
  • Oct 10, 2011 9:14am Oct 10, 2011 9:14am
Capito i must confess i use fx sniper LSMA indi period18 for early entries if all other parameters r met n i take a additional entry at filterline crosing, just a oldman in a hurry. Your advice/sugestions invited
LSMA indi period18 =red/sell, green/buy
  • #280
  • Oct 10, 2011 9:24am Oct 10, 2011 9:24am
Quoting mcrawfy
Thanks, I meant to say were all your trades prompted by CICR?
definitly, I do all the homework on the indexes, then scrol down the profiles n make the picks but CICR is the backbone, i hope u get me
1 trader viewing now