ASCTrend system - page 23
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HI ND
When we start trading the news using your ASCTrend method, It's exiting and I can't wait anymore for to teaching it by Great teacher like you,
Let's go
(if I can help you please tell me)
HI ND
When we start trading the news using your ASCTrend method, It's exiting and I can't wait anymore for to teaching it by Great teacher like you,
Let's go
(if I can help you please tell me)We need the additional indicator to trade the news. I asked Igorad to help with coding. So it will take some time.
I will not attach the chart images now as I think the people who are following this system are having all 3 template already.
So just some thinkings.
EURUSD and USDCHF.
We saw as EURUSD had sell signal and price crossed pivot line (M5 trading template). But when we switch to USDCHF (M5 trading template) so this USDCHF did not cross pivot libe yet for long so I am not trading. May be I will miss good movement ...
If we see from M5 informational template (stochastics) we may understand that good movement may be on breakout only. So will wait untill USDCHF price will cross pivot line.
From H4/D1 informational template we may see that EURUSD is still on uptrend. Just two indicators is shwing possible reversal to downtrend (H4 timeframe, Braintrading on the open bar and AbsoluteStrenght). And other indicators are not indicating this possible reversal. And too many resistance lines everywhere and those lines are very close to the price.
On D1 timeframe (EURUSD) is still uptrend: price is trying to break 1.2899 with no any success up to now.
And I amy suggest you to see H4/D1 indformational template (on D1 timeframe) for USDCHF: downtrend. On D1 timeframe. It may be good downtrend on D1 close bar just started. But I am a little worry just about oscillators as they are in oversold condition. Resistance is 1.2347.
So any good trend is possible on breakout. What does it mean for us? It means that it may be suddenly (not slowly) and probable in news time.
...So any good trend is possible on breakout. What does it mean for us? It means that it may be suddenly (not slowly) and probable in news time.
When I was typing last post I think this "suddenly was happened: almost all the pairs was crossed pivot line (trading template).
But as I see from H4/D1 informational template so support/resistance lines for USDCHF are the following:]
1.2408 resistance for long;
1.2355 resistance for short.
It is just nearest resistance lines.
And as I see from H4/D1 informational template (on H4 timeframe) it was breakout case for GBPUSD already. So the next breakout is 1.9050.
The other pairs just were stopped by resistance lines.
I am not sure about how strong this current trend on M5. I think it is probable too late to opne the order. Or will wait for more clear signals and breakout cases.
...And as I see from H4/D1 informational template (on H4 timeframe) it was breakout case for GBPUSD already. So the next breakout is 1.9050. The other pairs just were stopped by resistance lines...
And I want to say about GBPUSD. This pair is showing very good results on breakout during the several months already. I see the performance of TPE EA, SBS EA and some other EAs trading on breakout: always good results with GBPUSD.
We understand that market is changing all the time but I just hope that it will not be changed soon.
...And as I see from H4/D1 informational template (on H4 timeframe) it was breakout case for GBPUSD already. So the next breakout is 1.9050. The other pairs just were stopped by resistance lines...
H4/D1 informational template: breakout case for USDJPY now. Next breakout may be on 117.95.
M5 informational template: price crossed the 3rd profit target. It is exit for the people who do not like risk in trading.
Just want to say that GBPUSD only had very clear signal and signal for GBPUSD was not filtered by even single indicator.
Well.
We are talking about correction (of the price movement) and breakout.
There are separated trading systems based on correctional trend and breakout. EA which is based on correction is DayTrading3 for example. And some good threads are in public forum about breakout systems.
Besides there are 2 or 3 very good threads about trendlines and breakout. Those threads are located somewhere in analytics section of public forum. It is very old threads but people explained everythng trading live and posted live results.
Let's explain correction and breakout in more simple way.
If vehicle is the pair and the market is road, so we have very crazy driver: sometimes his vehicle is having as high speed so he may passed the shop for example. And he will decide to go back a little (to go to the repair shop). It is correction as I understand it.
Breakout is as a wall: it may be brick masonry wall, or wooden wall, or metalic wall. Driver does not know. So it depends on the vehicle (how this vehicle is strong enough) and on the wall: sometimes the car may break the wall, sometimes not.
Just imagine: we estimated everything when the market was started on H4/D1 informational template. Then we looked at M5 informational template and on M5 trading template. We may wrote everything on the paper for example. And we know exactly the direction. The pairs must move according to our decision estimated by our system
But during the day we may see that it is not - price is moving on exact opposite direction. Is it trading system mistaken? Or we did some mistake? No. Not at all. We were surprised about the opposite price movement because we did not estimate and did not analyze possible breakout events.
That is why we were talking about breakout.
Some people may ask: "what is wrong? why we are talking about correction and breakout? let's speak about downtrend and uptrend only!"
Because of probability. When the price broke some resistance line (breakout) so it will be much more easy for the price to go on the same direction. Just example with car and wall: if the car breaks the wall so this car will go more easy.
Let's say the following: if the price broke some resistance line going to some direction so, most probable, this price will go to the same direction during the some period of time. Probability for the trend to be continuing on the same direction is very high if breakout events.
But risky. Yes, very risky. Because this "some period of time" may be stopped anytime. But very profitable.
The same with correction. Just imagine that somebody created the scalper or EA which is trading very often on low timeframes. Which system the author will use to create those EA? Correctional trend, or counter trend, right. Most probably.
For our new M5 asctrend system we need to know about it to be able to anaylize it just to answer to one main question: to trade or not to trade today. If trade so we should select the right rules for our system (because as we know there are different rules for different cases in this ascrend system).
Do you see those redand blue lines? Small ones?
I call this lines as final breakout:
red line is the price for sell stop order (on final breakout);
blue line is for buy stop order.
H4/D1 informational template.
Those lines are moving slightly. Besides if the price broke one line the line will be moved to very far away from the price.
All we need to do is the following: once per day switch H4/D1 informational template to M5 timeframe. Just for 5 minutes. Why? Because those lines are not refreshing sometimes (bug may be). Those lines should be in different places every day. We may do it once per day if we are not closing Metatrader.
Can anybody tell me: how many breakout cases EURUSD had today? Just look at the last image I posted ...
One case was already. And we are waiting for an other one: those two lines are very close to the price. Risky? Very risky. But may be very profitable.