The AshFX System - Version II

[lrathi]

EURGBP weekly 1:
1. Draw in trend lines and fib studies.
2. LOOK for confluence of S&R. Blue Rectangles and yellow eclipse.
3. Determine weekly trend. I think it is DOWN till it reaches the UP trendline initially. The last rise was very steep so it is expected to revert back.

EURGBP Daily 1:
1. As seen on a daily chart prespective.

EURGBP Daily 2:
1. Add Ashfx indicators and signal arrows.
2. Add CCI indicator. Observe bullish Divergence. Also see on AC indicator.
3. Add daily trendline (WHITE)
4. Add Daily fib study of most current trend (Beige)
5. Add red vertical line. Shows line up of when CCI cross -100Line UP,Stochastics Crosses UP from oversold. Both these after Bullish Divergence observation.
6. Take note the SUPPORT at the fib cluster ZONE (blue rectangle from weekly TF. PLUS the small preceding candles.
7. Combine points 6&7 and then followed by ASHFX signal. IS THIS A GOOD ASHFX SIGNAL TO TAKE?
a) LONG candle: Some will not take it
b) Some will at a retracement to avoid larger drawdowns.
c) Some will enter at the CLOSE of large candle knowing it has good pip potential to the upside.
8. What are possible P/T? 38%,50% 61% fib retracement. There is a downtrendline(WHITE).
9. Use money management. Exit 1/2 position at .......( individual traders rules)
Exit other 1/2 when you see......(individual traders rules)
Move stops.....( individual traders rules)
10. Observe stochastics and CCI indicator when they reach fib levels and OB zones.

EURGBP weekly 2:
1. As seen from eurgbp daily 2 prespective after adding indicators and daily fibs and down trendline.
2. Observe red vertival line. I see: AO and AC still RED. Stochastics open and entering OS area
CCI (Also a trend indicator) still more room to enter OS area.
CONCLUSION from 1&2. Current price action on daily is a retracement as there is more down movement on the weekly TF.

Hope this clearly shows the steps and time and effort required and alertness to do an independant analysis. This has taken a few years of practice. My advice to newbies, Slow down and practice and practice and be in no hurry to see real $$$$. Build up a solid strong foundation which will not tumble when your trading goes to dizzy heights.

Happy trading and hope to see other chart analysis from others with explanations. Happy to help those who wish to learn indepandantly by putting them in the right direction.

[igasca]

Hi All,

Can I ask if anyone is using this system on the 4 hour charts and if so what success are you having? What techniques are you using? Do you close half your position when in profit at the end of that day that you took the signal or do you wait a full 24 hours before closing half in profit?

Many thanks

Ivonne

[rewing]

[QUOTE=lrathi;2318]EURGBP weekly 1:

Being a newbie, I appreciate this type of information...it is a lot of information, and it will take me some time to devour it, but it gives me great direction as to how an experienced trader looks at charts and SEES things that are not readily obvious.

Great post!
Thanks

[usama1]

Originally Posted by King Pips

Go to Forex Factory at Trading Systems Look for Tom Demark Trendlines.

I am using 30 min. TF any time I catch a breakout I am making Profits. Always Exit 1/2 and the other Half bring stop to break even. Even if you take lets say 15 pips on the first 1/2, because sometimes that second half can go for a good profit and you can move your stop loss as it keeps going until it hits your stop loss for profit.

Thanks again, I found the English version of the indicator , here it is

[lrathi]

[QUOTE=rewing;2321]

Originally Posted by lrathi

EURGBP weekly 1:

Being a newbie, I appreciate this type of information...it is a lot of information, and it will take me some time to devour it, but it gives me great direction as to how an experienced trader looks at charts and SEES things that are not readily obvious.

Great post!
Thanks

You are welcome.

[dolphin]

[QUOTE=lrathi;2312]

Originally Posted by dolphin

Not sure what you mean dolphin? Please expand.

My intentions are always based on the higher good of the other person.

If it is a compliment I say THANKS.

If you are not happy with it.... I put it down to your perception and wavelength of thought is not in alighnment with myself. I do NOT expect 100% to agree what I say .

Shall wait to hear what you really saying. Another ambigious comment! Your reply to me in PM in a different language which I did not understand nor did you translate it when I mentioned it. I had one earlier this week from RasKo... expressing himself which is not what he meant but is now cleared up.

first, i dont speak english very well, i try to do the best i can. sorry.
in this particular post i just wanted to say "thanks". i really apreciate each one of your comments, they are very helpfull. im close a year on forex, but since this forum had been opened ive learned like if i were 2 or 3 years.
so thanks again Irathi! this forum has become important for the posts like yours! never loose the patient with the beginners. never.

un fuerte abrazo amigo = a big/strength hug, my friend!

[lrathi]

[QUOTE=dolphin;2324]

Originally Posted by lrathi

first, i dont speak english very well, i try to do the best i can. sorry.
in this particular post i just wanted to say "thanks". i really apreciate each one of your comments, they are very helpfull. im close a year on forex, but since this forum had been opened ive learned like if i were 2 or 3 years.
so thanks again Irathi! this forum has become important for the posts like yours! never loose the patient with the beginners. never.

un fuerte abrazo amigo = a big/strength hug, my friend!

Thanks for your clarification.

I lived in a country for a few years where english was the third language ( and for me english is the first language)so I understand. Not an issue for me.

YOur feedback that you find my posts are to your benefit and you recognise my style of support to beginners is valuable to me.

YOu are welcome and hope your forex trading just keeps escalating.

[lrathi]

Originally Posted by 123mcmc

Irathi,

I'm a definite noob and have no pertinent technical knowledge to share, but after reading through this thread from beginning to end in a single sitting I felt compelled to offer my appreciation. Your insight, graciousness, and patience are inspiring. For someone of your advanced expertise (though I know all is relative) to be so concerned about guys like me is incredible. I especially enjoyed your last post on the beauty of math/numbers and will subscribe to "The Science of Getting Rich" soon. My "formal education" consists of a trip through Baby Pips.com and multiple hours spent with brokers sites and sites like "Informed Trades" and others. I am not as quick a study as Ras, but I am determined. Regarding post 916, could you supply a web site or link to the 3 CD set you referenced? Once again, many thanks to you, Ash, Swingman, King Pips and others.

Trying to recommend a Home Study Forex course without having used it myself is a difficult one.

I have googled and looked at some. However there are so many, and some costly too.

I found this Free one:
10 lessons to get you started.
10 Lessons to Get You Started

How to choose a trading course?

How To Choose a Trading Course - Part 1 Of 2 Video | General Investing Videos | Howcast.com

I suggest, search google.... Find some home study courses.......Read the contents of course.

Post some links on this thread or PM me and I will try and suggest.

[johnno]

Uploaded and used for the last 3 days of the week ( in Australia). Up 627 pips with only one loss ( tiny ) but that is full time watching the screen.
Missed another 460 thru fiddling with SL etc. What can i say but brill! will continue next week. Ash, your the man!

regards

Johnno.

[lrathi]

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