dozens of different zig zag are here in this thread
Zigzag indicators
someone please can check it out and tell what is the best. I never used it. They seems to repaint btw
Gold coming down to 1193 is bearish. Closed EA short yesterday on BE before going to sleep, should have stayed in.
Just wanted to post two of my losses today, trades were taken too quickly without breach, its worth to wait for price to be clearly trough, and if you watch trades exit on M5 pinbars if they show. Trades were OK as they all did profits but news went in way so i had to exit.
Jan what are you expecting today? Do you think EU, GU, GY will go lower?
and do you trade during the holiday season? or is it best to stay out
Nothing to say for GU too unclear picture there, similar for EU. Only EA short seems somehow good. GJ is expected to go higher. UCAD short at 1.0555, gold is bearish bellow 1190.8
How about GCad? I think a support has been breached… No?
EU up UCAD down seems like. Well GCAD gave 2 nice shorts if you caught lows break. For now its bearish on lower tfs, nothing to conclude on higher yet.
Gold is great opurtunity to short 20 pips lower from here. Huge reward if caught properly.
Hi janpec1000 and others,
Merry X Maz & Happy New year!!! from Sri Lanka. I came here through a long journy of 59 pages in your Hybrid Scalping System thread. I read all the post there related to V2 system (I did not read V1 stuffs) & learned lot of new things which will be very very useful. I still did not read the stuffs about V3 stuffs in this thread.
I have two questions to ask . (May not be relevant to this thread.)
About the impact of news. Say If there is a news on USD will there be impact of that news on Non USD pairs such as EURJPY . I know it is Theoretically YES cos there is impact on EURUSD & USDJPY. So Yen & Euro will be changed. But I am expecting some practical insight from experienced traders. Because there are lot of news event every Day & High & Medium Impact news are in every couple of hours. One of the top advice in Forex is “Stay away from market when there is a news”.
From a quick grasp I see you are no longer using Ichimoku. How ever I am interested to learn secrets you have about Ichimoku.
In the Hybrid scalping thread post number#378
You said “but the main strenght of Ichimoku is visual relation (position) of Kijun and PA/cloud. By that i mean what is actual distance of Kijun and PA and also if Kijun is about to enter cloud or going to pass it. That is by far most important info for me from Ichi becouse no other indicator tells you that price is going to most likely break current supprot for example and break down, for example if cloud is big and Kijun is very on bottom of cloud (inside it) it is 90% possibility that Kijun will exit cloud once again on bottom with price droping trough support.”
I cannot understand this. Can you please explain this using different words. If you can give an example of a chart it will be great. (There is a Saying : “A picture is worth a thousand words” )
Thank you !!
- Yes, becouse of corelation between EURJPY and USDJPY or corelation of EURUSD and other XUSD pair. News always effect most pairs especially USD news, except crosspairs are not affected if they are not bound strongy to correlation of current move. For example if you get weak or medium USD news you probably wont see much move in GBPAUD, becouse both currencies are against dollar on main pairs of GBPUSD and AUDUSD, therefore makes neutral impact. However if news are strong it will affect crosspairs too becouse some currency of those two will weaken or strenghten more against other.
Ok so practical impact is simply like that: dont place entries 1 hour before news, thats what i do. So that means ONLY USD news that are at NY open, i usually dont care for 90% of other news like EUR GBP NZD news, becouse they just dont create any impacts, except ofcourse claimant counts for GBP and central banking news for other of them. But ye to conclude it simply staying away 1 hour from USD news 14:30 GMT+1 is pretty much most of what you have to watch for.
Then also to add it depends where your entry is, if your entry is on h4 or daily TF most of time it wont matter what USD news do becouse market is stronger and move will go technically in way.
As for stay away when there is news totaly depends how good you know macroeconomy and if you have expectations on move dirrection. If you know dirrection ahead news can be huge profits made easy. Even if you dont know actual direction of news what you can do is to place trades ahead hour or 2 where you are almost sure that you will be able to get great entry with BE SL as soon as possible. That way you can gamble for news to move in your way and get nice profits, i have been doing this on UJ few times and it certainly is great thing to do as long as you can get great M1 or M5 entry. Very important is that your broker doesnt have huge slippage, if it does stay away.
2.I will try upload pictures tomorrow i am not at computer home at moment.
Hi,
Thank you about the your insight about impact on News release.
Would waiting to see ichimoku chart. If possible compile a little document about the secrets and insights you found about ichimoku indicator ( Not the usual things which are available everywhre such as kijun break, etc). It will be great if you can make a such document which teach secrets abouts ichimoku which cannnot be learn(or hard or expensive to find) from anywhere else.
Thank you
Oh i really dont want to give any promises on that becouse i am really slow on pdf files hehe. Besides i have intentionally excluded all ichimoku and other indicators from system in PDF to keep PDF as straightforward and robust as possible, becouse trading PA itself is enough no need to focous on the rest.
Meanwhile i got nicely scammed on Bitcoin purchase, nice thing to happen right on Christmas day, thats what you get for being trusted person. And then it makes you wonder why helping people with trading crypto or fiat currencies if first person that comes by takes chance to steal all you have.
Hey Janpec!
sorry to hear that happened to you.
Although i like the idea of Bitcoin, Bitcoin itself is a joke, why would you want to trade a currency which can drop 50% of it’s value in two days.
anyway, what i want to say is: don’t get discouraged, you have a good thing going on in forex.
Also, I appreciate what you doing here for other people.
try to forget and have a Happy new year.
J
Here is a funny incident of Stolen bitcoin.
Beware of the security.
[B]Bloomberg anchor displays bitcoin on TV, immediately gets robbed by viewer[/B]
Took 20 pips on GCAD long yesterday, holding UCAD long since yesterday but that thing is really on hollydays heh. Expecting break of highs on GCAD for 100-200 pips rally. Oh well same goes for all G pairs. Gold is bullish above 1216 for 120 pips. Drop bellow 1203 is bearish. If there is no significant move upside on gold in next 5 trading days it will drop for sure. TP on UCAD is 30 pips above, this should be certain hit, unless if they both already gave up on holliday time. On GJ guys look for strong pinbar formed on h4 or daily. That will be good counter trade sell for 50 - 100 pips, but for now i would stay out of anything on GJ. Buying on EURAUD is so strong that its very hard to believe any other dirrection but up. 80 pips on upside should be first stop. Then more upside. EU 1.40+
Holding +15 on UCAD long so far, lt should hit TP , expecting current daily highs to be smashed.
Possible GJ retraceemnt to recharge:
Same with EA
Hehe what a badass moves for Friday day before hollidays…
Hey Janpec, sorry about your problems on bitcoin, if it was a bad broker who was it?
Went long on EA after that +50 spike, couldn’t have been more than 45 minutes after your post…after it pulled back on M15, once I got in it dropped and I am sitting at -35 pips.
From the trend line you drew (on H4) it appears that I would need to put my stop loss around -170 and the bounce back may not happen until next week some time. It looks like maybe I should get out and take another big hit (to avoid an even bigger hit) if this thing is heading back to the 1.54 level. your opinion?
Thanks
Now sitting at -50…any opinion?
London session almost over, I don’t think this is coming back today. Still at -49
As for Bitcoin it was not broker, but personal exchange trough internet. I will be getting broker now, have to make my loss back with fx first.
I am not sure where your entry was becouse acording to my post you should have not entered long yet. Price is still 20 pips away from trendline before entry should be considered. Trendline is drawn from M30 not H4 chart. As for what to do now its hard to say, whole sheme is still very bullish, but h4 pinbar was strong. Your SL should be at 1.54, but the problem is that you are risking here a lot and to get it straight your entry was certainly bad one becouse on that drop down there was no place to enter long. Long entries good were good whole day til 5 hours ago.
Just checked your EA chart, it is definitely H4…
I actually made entry on EA from M15 M5 pullback…
I must have read something wrong in your post above:
“Buying on EURAUD is so strong that its very hard to believe any other dirrection but up. 80 pips on upside should be first stop.”
entry was at 1.55312…currently back up to -33 at the moment
I am going to stick it out, the movement has been volatile, it still could pull up from here, it appears to be forming a bottom in this range: 1.548, trying to stick with positive attitude.
Oh right it is H4 trendline actually i drawn it from M30 but lows follow H4 one too.
Well my EA post was before H4 close which was at momment still completly bullish and it hit my predicted target (high of previous daily pin) right to the pip (80 pips). After H4 close EA was no longer valid as long entry at least on any given current price. 1.546 should give either bump or break.
GCAD should go up 30 i think. Meanwhile hit TP on UCAD. Lets see how strong will be pullback on EU i wont start buying before it gives clear double or higher low. AU looks like ready to tank.