ASCTrend system - page 28
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Really interesting....
mine was :
2006.12.12 at 10:45 : buy 28.40 Lots of gbpusd Price : 1.9602 SL:1.9518 TP:1.9644
and the TP was hit :-)
This maket condition may be programmed easy. Because this analysis is always as the following:
or
if ...... we go long at the price ...
Support/resistance levels ....
Breakout levels ...Market condition rules:
- Price is inside the cloud
- and distance betwen the border of the cloud ...,
- Kijun-Sen line is below/above Tenkan-Sen line (red/blue lines of Ichimoku indicator on the main window),
- Chinkou_Span line is located below/above the cloud/price going long/short ...
- SMO indicator line ...
- AbsoluteStrenght indicator's lines ...
- trend lines ...
- breakout levels for long and short.
- news ...
Everything was written by indicators on the chart so it may be priogrammed. We only need to write the text for any cases and estimate the rules for any market condition.
-------------
News.
It was the other news: ZEW (at 10 GMT).
Next one is Uk news: CBI Industrial Trends Svy (monthly orders bal) - at 11 GMT.
And next one will be US Intl Trade Balance. At 13:30 GMT.
Trade balance is the differencies between export and import for some country. For US in our case. It was -$64.3 (billion) and expected value is about -$62/63. What does it mean? It mean that market expected for EURUSD to go short for a while. For some period of time.
I was reading the chart. All the levels and prices which I mentioned was written on the chart as a lines. So it was not my fantasy. It was just an indicators. If I can do that so our future EA Switcher can do as well.
Why choppy market condition is very risky sometimes?
If we look at the trading template now so we see buy asctrend signal. This signal is confirmed by other indicators (look at the image attached).
But if we look at info M5 template (image attached) so we may understand that price is on 3rd profit target already: we should exit from buy but we do not enter yet!
It was nice movement now.
But I think it was the news:
1. US Retail & Food ex Motor Vehicle
and
US Retail & Food Sales.
It is indicators. Different from technical indicators but still indicators. We can not ignore them.
It is very important indicator (Retail & Food ex Motor Vehicle and Retail & Food Sales). It is indicator for every coutry (not for US only). I mean for any currency.
Last value was -0.4%.
Market predicted value for now is +0.3 and +02% respectively.
More higher value is more good for national currency. It is US in our case. Because it was US Retail & Food ...
Factically it was +1.0 and +1.1. More than even market expected. So that is why we had this big movement.
Just want to re-mind that it was news movement.
Sorry I posted this news too late.
2. Next one is Business inventories. It will be at 15 GMT.
It was +0.4% and market predicted value for now is +0.5% that is not good for USD. But this Business inventories is not so important as Retail & Food. It is important if this value is inceasing during the many months (or decreasing).
3. And the next one will be EIA Crude Oil Stocks in US. At 15:30 GMT.
Sometimes this indicator is very important but sometimes not.
So more important and general indicator was US Retail & Food ex Motor Vehicle and Retail & Food Sales.
News.
Next news coming:
- US Export Price Index;
- US Import Price Index;
- US Jobless Claims;
- EIA Nat Gas Stocks.
It will be at 13:30 GMT.
Jobless claims is interesting indicator. It is weekly indicator. We may predict the value Nonfarm payrolls: if value of Jobless claims is descreasing during the month so the value of Nonfarm payrolls will be increasing (most probable).
And the other pairs are the same: 3rd profit target.
And the other two images from H4 info template. I call it "waiting for breakout". Red/blue dotted lines are breakout levels.
because it was breakout case for USDCHF already.
I did not trade but as I can see some very nice movement was today.
It is some example for GBPUSD: it was sell (trading template), then exit on 4th profit target (M5 info template). And on H4 info template you may see the red dotted line on the main window: breakout line.
First of all, please look at some post about MTF_AbsoluteStrength_v1 indicator. This post may be usefull for us and for this system.
Well.
Some trend today.
EURUSD.
It was very good and clear buy signal on trending template.
It was exit already on M5 info template.
See comments on the atached images.
The same was for USDCHF and GBPUSD.
See images 9attached). ou may estimate everything by yourself. Without my comments using the previous post as an example.
Please note that asctrend signal is not the signal to pen the order. I described it in my previous posts. And you may see it with GBPUSD images for example.
And some explanation about very risky signals you may see in the images attached.