ASCTrend system - page 30
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Very similar situation was for the other pairs.
And it was exit for EURUSD on 3rd profit target and not yet on blue/red lines crossing of PriceTrend indicator.
It was exit for GBPUSD on 4th profit target and not yet on PriceTrend indicator.
It was exit for USDCHF on 4th profit target and exit on PriceTrend is just coming.
It was exit for GBPUSD on 4th profit target and not yet on PriceTrend indicator.
Most interesting situation is going on for USDCHF and USDJPY. Look at the images.
USDJPY.
You may see where the red/blue dotted lined (final breakout are located on D1 chart for USDJPY: too close to each other. It means that it may be breakout any time (on D1 timeframe). On H4 timeframe we saw that it was breakout already and it may be the other round in any direction (possible uptrend).
USDCHF.
H4 timeframe.
It is very interesting situation now: breakout was finished. But Chinkou Span line is ready to cross the price for the second round of breakout. Besides, the price crossed all the resistance line and we have one finel breakout line now: 1.2257 for uptrend and 1.2146. And cloud changed the directuion for uptrend for tomorrow.
D1 timeframe. Flat. But Chinkou Span line (white line on the main window) crossed the price for uptrend already. But this line crossed the price on the open bar (it means that everything may be changed anyway). Other Ichimoku lines are indicating the flat market. But cloud changed direction to the uptrend already.
2. M5 info template.
Just want to remind that we have two kind of exit in this system:
- exit on profit targets (brown lines see m5 info image).
I prefer 3rd profit target.
- exit on blue/red lines crossing of PriceTrend indicator. It is more risky exit but we may have more pips in profit.So we may just open M5 info template (post #1 of this thread) and compare my images which I posted few minutes ago with recent M5 charts:
it was exit on PriceTrend indicator indicator for EURUSD, USDCHF and USDJPY and correctional trend is going on.
So we may just open M5 info template (post #1 of this thread) and compare my images which I posted few minutes ago with recent M5 charts: it was exit on PriceTrend indicator indicator for EURUSD, USDCHF and USDJPY and correctional trend is going on.
Correctional trend is very risky in this system because of not very good winning/lossing ratio and profit in pips s almost the same with losing trade in pips (1:1 sometimes). It means that we can not lose a lot but we can not win many pips as well. And because of that I am always trying to confirm correctional (counter) trend with MTF_AbsoluteStrength_v1 indicator as well.
I explained many times on this thread that when we are trading correctional trend (counter trend) we are using M5 info template as trading template. So please find this example in images attached.
Well. Correctional trend for 3 pairs was finished with 2nd profit level (see images on the previous post).
And now we have the second round for breakout (see my previous posts for explanation on H4/D1 timeframe).
Second round of breakout.
No comments.
I posted on the forum and missed good movement once again. So all that I can do now is to post some images from trading template.
Very interesting images.
I named first image as 'EURUSD locked'.
Second image is 'USDJPY is going to nowhere'.Continuing our gallery.
Name of this work of art (attached) is the following:
Ready For Tomorrow.
Please not that I am not a painter of those very nice paintings. Market is the author.
Seems EURUSD and USDCHF started the movement already? Too early. Anyway will see.
The templates and indicators were on the post #1 of this thread.
easy asctrend v2
Many people are asking me by PMs about what I am using now (which system). So I am using this system now.
Image and indicators are attached.
This system looks more simple and easy to use.
M5 timeframe.
Stop loss and Take Profit levels are Fibo levels.