ASCTrend system - page 41
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Please note that I am describing the morning now. Every morning I am analyzing the pairs trying to understand: will I trade or not.
It is H4 informational template with some explanation (EURUSD):
Also we can see that the cloud is wide enough which is indicating the range market condition (it was range market condition). The border of the cloud is strong resistance line. We saw in the morning that price tried to break this line ...
General opinion about Ichimoku is the following: everything which is below the cloud is downtrend.
We will look at D1 informational template for some comments:
So as we see if Chinkou Span line will break the price (on closed D1 bar) and of price will break the cloud with all cloud's borders we will have good downtrend. It cn be tomorrow, or it can be next week.
Now is afternoon but I am describing the morning here.
Usually I am writing everything on the paper every morning about levels (prices), support/resistance levels and so on.
It was EURUSD.
USDCHF trading template:
So we can see the differencies between EURUSD and USDCHF: USDCHF was stucked by pivot line and between few resistance lines.
We can see it from H4 and D1 template (USDCHF).
H4:
We can see on H4 image above that price was moving along the border of the cloud for the long time and still could not break this border of the cloud.
D1 (usdchf):
[attach]53859[/attach]
So, we can see that USDCHF is the leading pair with EURUSD/USDCHF. It means that if USDCHF will start to move so EURUSD will finally start to move as well. And USDCHF will start to move first (most probable).
"Leading" does not mean that all the traders will stop buying/selling EUR if they see how USDCHF was stucked by resistance lines. Of course no. It is just according to the technical analysis only. Just to understand something.
I will not describe GBPUSD and USDJPY now. You can do it by yourself. Besides, if we need to backtest it so we can use pivot indicator from Linuxser (instead of Live Charts Fibo Pivot indicator): Linixser's pivot indicator can be easy backtested so everybody can backtesting this system for the every morning: for example, describe the morning situation in 1st of February, 4th of February morning and so on.
It may be some kind of the training to use this system.
Linixser's pivot is on item #51 of the first post of this thread https://www.mql5.com/en/forum/general
So, as we understand from all my images it can be breakout on USDCHF based on some news event.
Upcoming new event is this one Forex-Tsd Calendar :: Calendars :
And:
And when I see that we can have possible breakout for some pair and want to understand the levels and so on so I am attaching just one Maksigen indicator to the chart (we have this indicaor as part of some informaional template).
For example:
This news event (Non-farm Productivity) did not give good signal to enter for us (we are talking about USDCHF):
previous value of Non-farm Productivity was 6.3%, expected value was 0.5% but in reality it was 1.8% so ...
If someone entered for short in that time so he had the following situation: