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Warning on todays potential AshFX V2 Setups.

by FMAdmin Someone
    Warning on todays potential AshFX V2 Setups.
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    You'll see that EUR/USD and USD/CHF have produced long and short signals respectively, not surprising since these pairs are inversely correlated.

    However, if you look at the setups:

    1. The candles are very long in comparison to the past few days' candles. This will make our stop losses very large.

    2. The Stochastics, whilst not exceeding the 80/20 barriers, are exceedingly close.

    3. Even if the body of the candles were to reduce by the end of the day, although it would make the stop losses smaller, the fact that we'd have long reversing wicks would be bad news with respect to price action.

    So all in all, whatever happens today, it would be unwise to enter these two trades.

    AshFX

    You'll see that EUR/USD and USD/CHF have produced long and short signals respectively, not surprising since these pairs are inversely correlated.

    However, if you look at the setups:

    1. The candles are very long in comparison to the past few days' candles. This will make our stop losses very large.

    2. The Stochastics, whilst not exceeding the 80/20 barriers, are exceedingly close.

    3. Even if the body of the candles were to reduce by the end of the day, although it would make the stop losses smaller, the fact that we'd have long reversing wicks would be bad news with respect to price action.

    So all in all, whatever happens today, it would be unwise to enter these two trades.

    AshFX

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