CICR system (Currency index cross referencing) | Page 59 | 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)

  • #1,161
  • Nov 10, 2011 2:27am Nov 10, 2011 2:27am
Hi Capito, did you manage to draw up the final PDF for this trading system? I'd like to study it please.

(It seems that the system evolved since your first post?)

Thanks
Hannes
  • #1,162
  • Nov 10, 2011 2:31am Nov 10, 2011 2:31am
I am more keen on the gbp....

watch the gbp....three back to back news release... so anybody what do u have to say...
  • #1,163
  • Nov 10, 2011 2:42am Nov 10, 2011 2:42am
4hr MACD on the index is giving a hint that GBP wants to go down, but all upper time frames show bullish candles and RSI pointing up

So when the 4hour crosses the filter line time for a sell?

Would we be entering before the news releases?
  • #1,164
  • Nov 10, 2011 2:49am Nov 10, 2011 2:49am
Quoting capito
Hence to help you guys and help ourselves in our cause, we are starting a fxsignal service.

Sign up to the newsletter to get information directly into your inbox.


Thanks.
May I have the link to the newsletter please?

Thanks
H
  • #1,165
  • Nov 10, 2011 2:58am Nov 10, 2011 2:58am
well that stinks there seems to be a reversal going on
  • #1,166
  • Nov 10, 2011 3:04am Nov 10, 2011 3:04am
Quoting hale-mary
4hr MACD on the index is giving a hint that GBP wants to go down, but all upper time frames show bullish candles and RSI pointing up

So when the 4hour crosses the filter line time for a sell?

Would we be entering before the news releases?
Looking at the monthly RSI, its not been this high for a while (third time in about 5 years) and on the previous visits it didn't stay that high for long, so like captio says, time for a change. I'm seeing RSI H4 down, D1 level, W1 beginning to level out and MN up. So, the change could be starting to happen.
On the H4 filter 3 EMA cross it won't take much to make this happen, but with the news then a steeper cross may result (as I write a small change to head down toward the filter line, 9 am London).

My conclusion is wait and watch, but when the time comes pair with USD or JPY?

Cheers

Paul

EDIT: H1 MACD crossed to sell an hour ago
  • #1,167
  • Nov 10, 2011 3:07am Nov 10, 2011 3:07am
That's right, There are a couple of news events lined up for the GBP and USD in a gap of two hours. marked important. also the GBP is right on the fence. It's already down on H4 macd and yesterday the HA changed and the PA also crossed the filter and the D1 rsi aslo qualified for the sell. But later it went up and again today it's showing weakness. Lets see.

I was in a couple of positions till a few minutes back but got stopped out.

McNish.
There is no such thing as LUCK ! Chance favors the prepared mind.
  • #1,168
  • Nov 10, 2011 3:18am Nov 10, 2011 3:18am
Quoting hale-mary
well that stinks there seems to be a reversal going on
It's a pullback for now. Can't term it as a reversal as yet.

Lee : So did the cat get to eat the whole mouse. You took a leak in the night while it was raining, Ya ( LOL !!!)

McNish.
There is no such thing as LUCK ! Chance favors the prepared mind.
  • #1,169
  • Nov 10, 2011 3:28am Nov 10, 2011 3:28am
Quoting HannesJoub
May I have the link to the newsletter please?

Thanks
H
www.forexmechanics.com
  • #1,170
  • Nov 10, 2011 3:28am Nov 10, 2011 3:28am
I am setting up for a gbpchf trade.. worth watching patience
  • #1,171
  • Nov 10, 2011 3:36am Nov 10, 2011 3:36am
"We are expecting no change after the 'surprise' increase in the bond purchasing program last month," claims Bill Hubard and Valeria Bednarik emphasizes that the BoE "is well known to wait for the evolution and results of its decisions, before making a new one." All of the experts polled agree that a change in the interest rate is out of the question, even though, as Alberto Muņoz reminds "UK inflation has climbed to a new high of 5.2% in October, clearly above its 2% target." He acknowledges however that "inflation is expected to fall in the first quarter of 2012 as well as the GDP growth rate, which is expected to be close to zero by the end of the year," and this forecast induces the BoE to hold back for now.
  • #1,172
  • Nov 10, 2011 3:39am Nov 10, 2011 3:39am
Please accept my sincere thanks for all those who subscribed with the champion trading group.
Thankyou
CTG
  • #1,173
  • Nov 10, 2011 3:58am Nov 10, 2011 3:58am
Quoting capito
I am setting up for a gbpchf trade.. worth watching patience
OKay, this is helpful. I think I am slowly starting to understand this system a little better now. I think now would be too late for entry. Perfect time would have been as soon as the chf and gpb indexes aligned and then would have to go for a short.

My question to you is should we be concerned that the w and m rsi are not in agreement with the daily on both indexes? They are at the extremes though
  • #1,174
  • Nov 10, 2011 4:00am Nov 10, 2011 4:00am
Quoting hale-mary
OKay, this is helpful. I think I am slowly starting to understand this system a little better now. I think now would be too late for entry. Perfect time would have been as soon as the chf and gpb indexes aligned and then would have to go for a short.

My question to you is should we be concerned that the w and m rsi are not in agreement with the daily on both indexes? They are at the extremes though
Yes you should be, we are only looking for quick intraday gains,,
  • #1,175
  • Nov 10, 2011 4:09am Nov 10, 2011 4:09am
Quoting McNish
It's a pullback for now. Can't term it as a reversal as yet.

Lee : So did the cat get to eat the whole mouse. You took a leak in the night while it was raining, Ya ( LOL !!!)

McNish.

haha,,the cat getting bigger man,,,i let the basket opened since kast nite and continue to add more lots on AUDUSD, AUDJPY, EURAUD, AUDCHF until London opened where 35 pips TS took out most of my trades.. close to 800 pips gained on that basket alone... every time London and US open, there are significants pullback and everytime my TS 35pips taken out.. I am thinking to close the basket right before those market open and reenter again after that if setups still there,,,
  • #1,176
  • Nov 10, 2011 4:11am Nov 10, 2011 4:11am
Quoting capito
Yes you should be, we are only looking for quick intraday gains,,
Hi capito,

Still in my demo stages, so far so good...However, patience!!!!So in case of the potential gbp/chf trade.......

1) You will enter "AFTER" the major GBP news event - only if it takes the GBP further down?

2) What if it takes the GBP up....i.e. in case they decide to hike the rates? How will you enter or will you enter at all?

3) Or will you consider entering a position before the major event?

wanted to ask you when you entered for the AUD trade in the 1 st week - was it after or before the rate decision news.
  • #1,177
  • Nov 10, 2011 4:17am Nov 10, 2011 4:17am
Quoting ssk1284u
Hi capito,

Still in my demo stages, so far so good...However, patience!!!!So in case of the potential gbp/chf trade.......

1) You will enter "AFTER" the major GBP news event - only if it takes the GBP further down?

2) What if it takes the GBP up....i.e. in case they decide to hike the rates? How will you enter or will you enter at all?

3) Or will you consider entering a position before the major event?

wanted to ask you when you entered for the AUD trade in the 1 st week - was it after or before the rate decision news.
I am just keen on what will happen , the news release... however the technical setup looks likes there is something cooking in gbp....
And also interest hikes are something that dont happen everyday,,,
as of now we should techinally figure out what might happen...
I dont enter.. i shift my focus and once i got the index,,,, i dont ever ever ever look at any other currency just focusing on the index of interest.
  • #1,178
  • Nov 10, 2011 4:22am Nov 10, 2011 4:22am
Quoting ssk1284u
Hi capito,

Still in my demo stages, so far so good...However, patience!!!!So in case of the potential gbp/chf trade.......

1) You will enter "AFTER" the major GBP news event - only if it takes the GBP further down?

2) What if it takes the GBP up....i.e. in case they decide to hike the rates? How will you enter or will you enter at all?

3) Or will you consider entering a position before the major event?

wanted to ask you when you entered for the AUD trade in the 1 st week - was it after or before the rate decision news.
The AUD was before the news release.. it was techically much better placed.. considering S/R..
GBP is more volatile than the aud hence i would want to see how it would react.... GBP is looking good because of the divergence.
  • #1,179
  • Nov 10, 2011 4:25am Nov 10, 2011 4:25am
Quoting capito
I am just keen on what will happen , the news release... however the technical setup looks likes there is something cooking in gbp....
And also interest hikes are something that dont happen everyday,,,
as of now we should techinally figure out what might happen...
I dont enter.. i shift my focus and once i got the index,,,, i dont ever ever ever look at any other currency just focusing on the index of interest.
Thanks capito,

So in short -
Have absolute focus on the index and avoid unnecessary risk by entering before any major news (if the event is really close by)
  • #1,180
  • Nov 10, 2011 4:27am Nov 10, 2011 4:27am
so does this mean you did not enter the gbp/chf trade, yet?

I thought the 1 hour cross (for earlier entry) on the currency and the indexes as well ans the MACD and rsi indications on the higher time frames would have given the okay to enter. If you enter after the news the move might be over?

So when is the right time to enter, because I thought everything lined up for a sell.
1 trader viewing now