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| CSS London Hybrid https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=2725 |
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| Author: | pips400 [ Thu Jul 18, 2013 6:56 am ] |
| Post subject: | Re: CSS London Hybrid |
All set for London open. Given a lot more thought about bias and I've dropped down to the H1 CSS rather than the H4 CSS, also using weekly pivots and recent price action to determine bias, so this is very subjective not black and white at all. Here's my list for this morning. Because it's short term scalping on the 15 min, not all pairs will correlate as you would expect with say the H4 chart, e.g. I've gone long on the USDJPY because CSS H1 gives signal, but also broken through 100 and WP, but I've gone short on other JPY pairs like EURJPY because we're well above WR1 testing yesterday high, and I'm treating this as a ranging pair, so even if price moves higher, I am expecting at least a bounce down first. So as you can see very subjective, but let's see what happens. AUDCAD Short AUDCHF Short AUDJPY Short AUDNZD AUDUSD Short CADCHF Long CADJPY CHFJPY Short EURAUD Long EURCAD EURCHF EURGBP EURJPY Short EURNZD Long EURUSD GBPAUD GBPCAD Short GBPCHF GBPJPY Short GBPNZD Long GBPUSD NZDCAD Short NZDCHF Short NZDJPY NZDUSD Short USDCAD USDCHF Long USDJPY Long |
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| Author: | pips400 [ Thu Jul 18, 2013 7:54 pm ] |
| Post subject: | Re: CSS London Hybrid |
Early days yet, but it looks like the choppy action of late is playing havoc even at 15 min. I've got loads of data though from the last two days and will give this some serious thought. Thoughts at this stage are, 1. playing the reverse trade, i.e. as most trades are hitting sl, rather than a buy place a sell, and vice versa, ie. the set up is for a long, but instead take a short. I know that sounds crazy, but actually I tried that on the second platform today with surprising results, about 80% winning trades, but larger losses bringing net loss overall, so worthy of further investigation. It's like the old familiar experience of placing a trade only to have it reverse and hit the SL, so if that is 80% of trades, it might be something to play with. 2. looking at CJ's thread again, I'm sure there's something of great worth to be gleaned, so am looking again at the 15 min London session, but applying the price action methodology. Not sure were all this is heading yet, but having fun on the journey |
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| Author: | rosst [ Thu Jul 18, 2013 10:48 pm ] |
| Post subject: | Re: CSS London Hybrid |
I admire your effort pips400. I have been looking at the CSS lately thinking that I am often late to the party. I was wondering if I might start looking for the pairs that seem to be peaking - like the aud did yesterday on the H4 - but since the peaks vary in distance away from the 0 line - how can one tell? Looking at the JPY - H4 that line appears to still be going down. What if there was a way to have the indicator write to an excel file and let you know when the JPY (H4 is currently at -0.53 & H1 is at -0.70) starts moving back toward the center.... For example - say the next H4 closes at -0.50 & the H1 is at -0.60 - you might have a peak low formation.... Hope this makes sense.... |
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| Author: | pips400 [ Fri Jul 19, 2013 6:51 pm ] |
| Post subject: | Re: CSS London Hybrid |
Hi Rosst, sorry for a late reply, unfortunately I've gone down with some bug so struggling to keep pace. I can see your thinking but have concerns. I think the CSS is great for an overall bias of currency strength, but personally I'm not sure it's a good idea to be too precise with it, or indeed any other indicator for that matter. But it's where I start the process in helping to at least know which way I should be looking to go, then the next step is the right conditions for an entry. Where I'm at with the CSS London Hybrid, is placing price action as the key component, coming into the London session, with some understanding of where I expect price to go, and how it's going to get there. This includes key PA concepts like Stop hunts, manipulation points and reversal candle patterns. I'm looking for a trade to go outside the asian high or low (though not always necessary), and then entry on the reversal. For example, CSS gives long bias, then I want to see price break below asian low, then on the reversal formation, take the entry long. The difference to this technique is getting into the trade much earlier rather than using stochastic and 5 MA. The risk:reward is much higher also, so going into next week, this is what I'll be trying out. The images are for the EURNZD today on H4 and M15. The H4 gives the bias, then switch to M15. This is a text book example and many other setups today were not nearly so simple, but they were there. I've only included them here to illustrate what I'm talking about. I'll report back with the latest results when I can. Have a great weekend everyone. Pips400 |
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| Author: | pips400 [ Fri Jul 19, 2013 7:13 pm ] |
| Post subject: | Re: CSS London Hybrid |
Here's another text book example on the EURCAD yesterday. CSS bias was short, price went above Asian high, wait for reversal and place sell, with SL a couple of pips above the swing high, for an even better entry use a sell limit order at 50% retrace on the closing reversal candle. Price often retraces back to this level, entry isn't guaranteed, but again the risk reward ratio is a whole lot higher, in this case about 1 to 6 |
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| Author: | rosst [ Fri Jul 19, 2013 9:41 pm ] |
| Post subject: | Re: CSS London Hybrid |
Thanks for the reply - I see you aren't using the 240 MA for direction - Thanks for the examples - I look forward to more! Have a good WE.... |
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