The AshFX System - Version II

[costard]

Originally Posted by rewing

Should we be concerned with the loooooong wick on the candle?

I would be. V bearish candle. Plus the fact that EUR/GBP is still in a firm downtrend started nearly three months ago - like EUR/AUD. Also the 4H chart stoch has already turned down.

[rewing]

Originally Posted by costard

I would be. V bearish candle. Plus the fact that EUR/GBP is still in a firm downtrend started nearly three months ago - like EUR/AUD. Also the 4H chart stoch has already turned down.

I forgot to look at my 4hr chart before I made my post....However, should we almost always be suspicious of long wicks on a candle?

[Budi Utomo Widjaja]

Hi AshFX,
Thanks for your sharing, I already put your trading system for D1, I agree with the result. But I'm playing in M1, could you suggest the best possible trading system for playing with M1 time frame. Right now I am experience much loss in M1 time frame.

regards,
Budi Utomo Widjaja

Originally Posted by AshFX

Dear all,

I'm proud to present my latest system, AshFX: Version II.

This system is simple, easy, & profitable.

AshFX V2 uses the following indicators:


- Parabolic SAR (0.05, 0.2)

- AC (Accelerator Oscillator)

- AO (Awesome Oscillator)

- Stochastics (5,3,3)


The system can be used on any currency pair, and is suited for the Daily timeframe (D1), although it can also be used on H4.

Two files attached, 1) the actual system (PDF), and 2) the MT4 Template (TPL). Take the attached template and apply it in Metatrader.

See below for an example of what you should be seeing:



Look forward to questions/analysis/discussion/testing.

Regards,

Ash

[Neo]

Originally Posted by Budi Utomo Widjaja

...could you suggest the best possible trading system for playing with M1 time frame. Right now I am experience much loss in M1 time frame.

Hi Budi, I'm not Ash, but I thought I'd shoot you a quick answer with my first impressions after reading your post. I'm a beginner and not a "real" trader...yet, but it doesn't take a genius to tell you that the 1M timeframe is not what this system is designed for. The AshFX Daily V2 is intended for the Daily or 4H timeframes. (I might even venture to say that trading the 1M TF is not something I will see myself doing hardly ever.)

What I'd recommend is to check out Ash'es SSS (Super Simple System), found here: http://forexmoments.com/forums/educa...le-system.html. The SSS is designed for the 1H timeframe, but can be used with lower timeframes (the lowest I have heard of people trading this system is on the 5M timeframe). You can also combine the 2 systems together by adding indicators from the V2 to the SSS and vice versa...and see what works for you.

Best Regards

[Budi Utomo Widjaja]

Hi Neo,
Thanks for your advice, I have put SSS, and studied it, seems suitable when I saw in the historical M1 EURUSD. Tomorrow I will scalp using this system.

Best Regards,
Budi Utomo Widjaja

[dolphin]

Originally Posted by costard

I saw it too, dolphin, but didn't take it. Although I've never traded EUR/AUD my experience with other pairs has taught me never to trade AshFX against a prevailing trend. This pair has been in a strong downtrend for nearly three months.
Hope it works out for you though. Good luck.

u were right. not was a good decision. i closed this long at be. thanks for your comment.

[Neo]

I actually bought this pair too (EURAUD), even though it didn't look too promising at the time. Just logged into my account after being away for a couple days and find that this trade is up 174 pips (a couple days ago I was down 250 pips or so). Anyways, just wanted to share, for what it's worth.

[lrathi]

Originally Posted by Neo

I actually bought this pair too (EURAUD), even though it didn't look too promising at the time. Just logged into my account after being away for a couple days and find that this trade is up 174 pips (a couple days ago I was down 250 pips or so). Anyways, just wanted to share, for what it's worth.

Look further for divergence and you will see why this was a great trade to be in.

[costard]

Originally Posted by lrathi

Look further for divergence and you will see why this was a great trade to be in.

Thanks for the insight Irathi. A dramatic example. I know divergence can be a powerful and leading indicator. I didn't see it, so thank you for pointing it out. But if I had I still wouldn't be inclined to take the trade. The failure of the trade indicated on May 13th with similar divergence would make me wary.

[lrathi]

Originally Posted by costard

Thanks for the insight Irathi. A dramatic example. I know divergence can be a powerful and leading indicator. I didn't see it, so thank you for pointing it out. But if I had I still wouldn't be inclined to take the trade. The failure of the trade indicated on May 13th with similar divergence would make me wary.

I do see the divergence on the 13th May. This maynot be the correct thread to talk divergence, but I hope others will not be angry. When the first divergence occured, the weekly stoch lines (both) had not crossed 20 line(OS). Other indicators indicated to me the pair was still in a downtrend.

The divergence trader looks for these 3 wave divergence as a higher probability trade versus a simple divergence.

One may like to look for Price Action (HH,HL) before entering after a 3 wave divergence. Usually this seen on daily... check weekly and see if there is indication of weekly trend reversal....

Another post -entry today(5 days later) see where the price turned(on Monthly Pivot). See if weekly is showing more reversal.(A ashfxv2 arrow is starting to show. Of course need to wait for friday for the candle to finish.

Daily stoch still in the 20/80 range looking north.

In Summary:
3 wave Divergence is a very, very high probability trade. Use as Alert... Confirm by price action HH and HL to enter. Always check Weekly charts. Always draw trendlines...look for breaks to TL.