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CICR system (Currency index cross referencing)

  • #761
  • Oct 31, 2011 7:29am Oct 31, 2011 7:29am
Quoting availdollars
my views r, i have found the strength but i need to trace the weakness, maybe aud ??? like capt.'s prenomination
Hi AVD,

Whenever you can trace strength or weakness on any currency index the first thing you must do is to check if you can pair it against the USD or the JPY.

If aud falls this week, check if usd index is rising also check in jpy is falling.

Do this whenever you can identify strength or weakness for any currency.

Thanks
Happy trading.
  • #762
  • Oct 31, 2011 7:35am Oct 31, 2011 7:35am
Quoting capito
Hi AVD,

Whenever you can trace strength or weakness on any currency index the first thing you must do is to check if you can pair it against the USD or the JPY.

If aud falls this week, check if usd index is rising also check in jpy is falling.

Do this whenever you can identify strength or weakness for any currency.

Thanks
Happy trading.
TQ, lesson learnt n appreciated
  • #763
  • Oct 31, 2011 7:39am Oct 31, 2011 7:39am
Quoting capito

enjoi the fresh ride starting next month. Have a safe trading month.

Happy trading.
I just finish reading " the psychology of risk:mastering market uncertainty" by Ari Kiev. It is a very interesting book. It's worth reading. The same author have a series of books on similar topics. Although, safer trading is a aspect I must consider and patience, patience, patience. Hehe
  • #764
  • Oct 31, 2011 7:48am Oct 31, 2011 7:48am
Quoting capito
Hi AVD,

Whenever you can trace strength or weakness on any currency index the first thing you must do is to check if you can pair it against the USD or the JPY.

If aud falls this week, check if usd index is rising also check in jpy is falling.

Do this whenever you can identify strength or weakness for any currency.

Thanks
Happy trading.
I know I have been posting like crazy lol..........

When you mean Jpy falling...do you mean that in the index it is rising (rising candles) and correspondingly due to its LFX label - the jpy is weakening.
In short, I wanted to know what 'rising' meant in your post i.e. whether it is jpy strengthening or weakening. ( i understand the LFX inversion stuff)

Also when you suggested to watch USD and JPY together is it with relation to the safe heaven currency concept and related risk-on/risk-off i.e. with respect to fundamentals. Or was it just for decent spreads for a currency pair.
  • #765
  • Oct 31, 2011 7:53am Oct 31, 2011 7:53am
lets see how it plays out.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: auddaily.png Size: 55 KB
Click to Enlarge Name: aud4hr.png Size: 53 KB
  • #766
  • Oct 31, 2011 7:56am Oct 31, 2011 7:56am
Quoting ssk1284u
I know I have been posting like crazy lol..........

When you mean Jpy falling...do you mean that in the index it is rising (rising candles) and correspondingly due to its LFX label - the jpy is weakening.
In short, I wanted to know what 'rising' meant in your post i.e. whether it is jpy strengthening or weakening. ( i understand the LFX inversion stuff)

Also when you suggested to watch USD and JPY together is it with relation to the safe heaven currency concept and related risk-on/risk-off i.e. with respect to fundamentals. Or was it just...
Apologies if i confused you.
JPY falling or rising i just mean the direction up or down, for example the AUDLFX rose in the first week and jpy also was directing up hence audjpy is a buy.
Hope i have answered it.
  • #767
  • Oct 31, 2011 8:07am Oct 31, 2011 8:07am
Quoting capito
Apologies if i confused you.
JPY falling or rising i just mean the direction up or down, for example the AUDLFX rose in the first week and jpy also was directing up hence audjpy is a buy.
Hope i have answered it.
Thanks boss.....An explanation couldn't be any more clearer
  • #768
  • Oct 31, 2011 8:46am Oct 31, 2011 8:46am
Quoting capito
lets see how it plays out.
capito, could you please attach your recent template, where the RSI reading of all index pairs is on top and the RSI reading of the current pair in the chart is in the RSI window? I somehow don't manage to get the RSI reading in the upper AND lower window. Thanks a lot in advance.
  • #769
  • Oct 31, 2011 11:30am Oct 31, 2011 11:30am
What time is day opening???
Is it when London market open???
  • #770
  • Oct 31, 2011 1:07pm Oct 31, 2011 1:07pm
IMO GMT+0 for calendar day
london opens at GMT+8 DST
  • #771
  • Oct 31, 2011 2:04pm Oct 31, 2011 2:04pm
Quoting availdollars
IMO GMT+0 for calendar day
london opens at GMT+8 DST
Thx for that valuable info. I get confused with all the different time zones. I'm on pacific time, my broker is gmt+2 and market open like you said. Hehe my head is spinning.
  • #772
  • Edited 11:16pm Oct 31, 2011 10:42pm | Edited 11:16pm
loooook out,,,it;s coming,,
  • #773
  • Oct 31, 2011 11:23pm Oct 31, 2011 11:23pm
Hi Capito and Lee,
I see AUDLFX is pointing down H4-W1.
H4 MACD divergence and histogram below 0. I saw 3 pair AUDUSD, AUDCAD,AUDNZD and consider AUDCHF having valid signals for SHORT entry. Am I correct ?
  • #774
  • Oct 31, 2011 11:46pm Oct 31, 2011 11:46pm
Quoting leekaq
loooook out,,,it;s coming,,
Hi Leekaq,

Did you open any position already? I just short AUDUSD and AUDCHF. What do you think?
  • #775
  • Oct 31, 2011 11:54pm Oct 31, 2011 11:54pm
Shouldn't we wait for it to pierce the filter line, get the flow stronger etc.... ?
Attached Image (click to enlarge)
Click to Enlarge Name: aud index after RBA announcement.....jpg Size: 192 KB
  • #776
  • Nov 1, 2011 12:00am Nov 1, 2011 12:00am
this is my open trade so far...

Quoting ssk1284u
Shouldn't we wait for it to pierce the filter line, get the flow stronger etc.... ?
Attached Image (click to enlarge)
Click to Enlarge Name: ww45.2 trade1.jpg Size: 139 KB
  • #777
  • Nov 1, 2011 12:08am Nov 1, 2011 12:08am
As u can see, i combined scalping (or intraday?) in my trades ..see AUDUSD and EURUSD.. red vs blue arrows...remember? It will take some practices but it will get u in the trade early...if D1, W1 and M1 end up in same directions I'll just let the position opens as long as it takes with trailing stops...
  • #778
  • Nov 1, 2011 12:58am Nov 1, 2011 12:58am
Quoting leekaq
this is my open trade so far...
Thanks for your info.... I short AUDJPY also after I see your post....
  • #779
  • Nov 1, 2011 1:02am Nov 1, 2011 1:02am
Quoting leekaq
As u can see, i combined scalping (or intraday?) in my trades ..see AUDUSD and EURUSD.. red vs blue arrows...remember? It will take some practices but it will get u in the trade early...if D1, W1 and M1 end up in same directions I'll just let the position opens as long as it takes with trailing stops...

Yeah it makes sense, especially in the AUD - with the RBA ratecut.....how about your stops - always trailing stops or is it 100 pips initially and trailing stops later (i.e. once you move into profit)?

Nice trades anyway - guess its about experience and confidence with indexes backing your trades up
  • #780
  • Nov 1, 2011 1:24am Nov 1, 2011 1:24am
Initial SL50 TP150.. once price moves into +20 pips or si, move SL to BE at +5 pips and set TS a 25pips.. i am still testing these setups though..

Quoting ssk1284u
Yeah it makes sense, especially in the AUD - with the RBA ratecut.....how about your stops - always trailing stops or is it 100 pips initially and trailing stops later (i.e. once you move into profit)?

Nice trades anyway - guess its about experience and confidence with indexes backing your trades up
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