CatFx50 - page 293
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
thanks for confirmation none the less a rare losing trade for me on cable
Based on that, yes, but there was no confirmation on anina (ie no down arrow) on my chart anyway.
Btw Harold your outlook is spot on. ie accept it and get on with the next trade
Yes Herold, it was a right falsh signal in Cable.
There was also a good Level 1 Shortsignal in EUR at 14:30 CET (1.2120), but this was at news times.
sell on Cable?
Possible sell on Cable coming up ?
GBPUSD (Cable):
On the formal point of view we had a level 1 signal on cable short 15:00cet 1.7484.
I know it is easy to say afterwards, but the news were good for the USD indeed, but not that good that all currencies against the Dollar should crash down. Trade balance deficit expected 66-67.5 bln come in at 65.7 - a little bit better than the lower border.
From this point of view, if you notice that the reaction on that news at 14:30cet was about 50 pips in half an hour down it was very risky to trade this signal.
(Another additional indication was that MAX Mov Avg didn't cross yet. But this is not a part of the system)
(On march 20th 12:30cet we had the same issue. Cable was in a consolidation 20 pips above ema50 and hook down on some news about 50 pips to resume at this point and go back)
@Dave1: It occurs sometimes that aNina does not show the arrows.
USDCHF
Nearly the same than on cable - signal occured first after the 50pips-reaction.
EURUSD
We had a level 1 short at 14:30cet @1.2118 - low was at 1.2065 in the same candle.
Here was the advantage that the crossing with ema50 had been earlier and the signal came together with the news announcement.
The problem was to get inside a trade because of the fast reaction and fast moving quotations after the news.
It is always dangerous and risky to trade the news or the minutes after the announcement because of noone really knows if the reaction is reasonable - fitting to the news direction. Sometimes there are contrary reactions.
mibl
Hey folks. I was just saying that during news releases, your odds are always lower when your candle is touching the MA after it closes below/above. If you look at the cable charts (or most charts), you'll see that whenever a candle is touching after a crossover and close of a candle, it's most likely the next one will either reverse or will also close touching the candle. It's best to wait for another to close completely above/below w/o a touch.
Just an observation meant to help.
Good trading,
PT
mibl, I thought a main point of CatFx50 is to avoid the news.
Use the straddle method or some other system, but I think CatFx50 breaks down and shouldn't be used around news time.
Thoughts ?
Hi guys, could you explain the "straddle method"... TKS
Das,
Delta force is an indicator New Digital is using on one of his 15M Chart Brain System templates Check over on that thread somewhere. I'd attach but I'm at work and don't have the indicator in my files.
Cheers
Thanks Pip Trip, I found it.
Cheers
Straddle method
Some brokers (InterbankFX is one) will allow you to place orders (actual or pending) in BOTH directions (short and long). Serveral brokers will close a long position if you place a short on the same currency pair (and the opposite for a short position)
The Straddle method is where you place BOTH a pending Buy/Stop above the currency pairs value AND a pending Sell/Stop below the value AT THE SAME TIME.
Do this shortly before the news report is scheduled to release (under 3 minutes).
Place the orders around 20-25 pips above and below the current value.
When the news comes out (if its not what was expected to happen ie.- US NonFarm payroll is expected to be 185 and comes out at 225) the currency pair should (key word: should) move rapidly up or down.
When the pair moves across your Buy/Stop or your Sell/Stop it will be triggered and become an actual order.
I highly recommend setting a trailing stop and a Stop loss is very important as the pair can become EXTREMELY volitile and can swing one way or another in a matter of milliseconds.
Thats it in a nutshell.
Good method - but not 100% reliable.
An example of is when the pair goes just high enough to trigger your Buy/Sell, and then promptly swings the other way. Thats why a Trailing stop and a Stop loss are always important.