ASCTrend system - page 42
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And it is exit. We can choose anyone.
By the way, the 2nd and especially 3rd profit levels are good.
But if we enter on the second profit level so it is too late.
Profit levels are just MA indicator's channel with fibo numbers. So it is also depends on the direction of this channel. If this channel is going to almost horizontal way so we can get just few pips. If the trend was established already generally so we can get a lot of pips by only second profit level.
Just traded 3 pairs today:
Trend on GBPUSD was good and understandable for the system:
And I did exit on PT indicator: it was risky but I was lucky. Because we can select PT indicator exit only if we wan to have more pips in profit for 1 trade.
It was choppy for EURUSD and USDCHF:
I selected the right direction only because of my morning analysis (which I described on previous posts):
Today's trades.
Exit.
If we want to stop on second or 3rd profit level so we can stop now and close this trades:
If we prefer to get many pips by one trade and will agree to have the losses just to catch one or 2 orders with very good profit so we should wait for PT indicator's exit.
And exit on stochastic indicators was on USDCHF and USDJPY (see image above for today).
So. we are having many kinds of exit and it is only our choise.
Today is Monday.
So, some quick view on the pairs.
EURUSD.
As we see from D1 informational chart it is downtrend in general, but price was going up as a correctional trend and was stopped by resistane line. Resistance line is the border of the clod and clod is very thin so the situation will be developed as the following:
- price will be finlly stopped by resistance line and will dontinue downtrend;
or
- price will break this resistance line and go long for some period of time.
When it will be?
As we see from this image it may be expected in 13th of February on D1 timefrme so in this date the situation will be fully understandable.
As we are trading M5 timeframe by this system so H4 timeframe is more interesting for us.
As we see from the H4 informational template (download from 1st post of this thread):
- uptrend started concerning AS indicator and some other indicators;
- but it may be finished soon according to STIX indicator;
- but it even did not start yet concerning Ichimoku indicator.
So the situation is not very understandable. Because Ichimoku indicator is showing downtrend (and it is just a correction now) and this downtrend can be finished finally at 7 pm GMT today (according to Ichomoku cloud): see pevious post for the variations of the situation.
M5 informational template:
- uptrend is continuing and it is too late to join it by order.
- it may be correctional downtrend (look at PT indicator's lines).
Our main trading template: the price is oo far from pivot line. We are no trading EURUSD today. The situation can be changed today in the evening.