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EURUSD market open.

Algo signals don’t get much clearer.

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I can understand the DM shorties entering where they have. It is a old school belief of ‘rollover’ expectation, but ultimately is filling long positions.

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No, I am not familiar with repairing a trade but I am hedging and also selling again on the way down (if it is going down, hopefully) What do you suggest? Also, any suggestions of books to read or anything else to improve my trading is most welcome.

I used to read books trading related, but particularly today they are not very applicable as there is so much algo activity going on. Algos by design are intended to cover all, except herd stampedes. I downloaded a great little reference book from Forex Fact which most have probably read already and it appears to cover most common set ups in forex. Unfortunately I can’t upload it here due to he 512kb limit.

Here are some interesting points, now pretty much common knowledge:

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Looks like the targets are approaching.

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AUDUSD – they just keep selling into it and they just keep taking out the stops.

Buying is gradually declining though.

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“Cyan = Long Term Short Stop Positions
Blue = Short Term Long Stops
Orange = ???
Red = ???
Yellow = ????”

orange below price = MTS of DM longies
yellow above price = MTS of DM shorties

blue / turquoise = STS

pink: LTS

red bars = DM shorties (x- and y-axis….first histogram live, second historical)
green bars = DM longies (x- and y-axis….first histogram live, second historical)

Cool, thanks for the clarification.

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CTrader have just updated the desktop platform again with some simple but basic features.

I would urge anyone who uses the platform to use the ‘vote’ for suggestions to get features added. They appear to be listening to suggestions now.

They still have some very, very annoying bugs which I think are windows related, but it appears to be using the best of the worst to enjoy a hobby.

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I don’t know how many have noticed, but lately certain controlling interests are implementing more aggressive short term settings in their algo’s.

To the astute eye it stands out, but most would not see it. See images attached.

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It is so interesting to watch. I see that the EU is trapped, it can’t go very far up into the stop cloud as longs will be too far into gain and those guys will win, it can’t go down as soo many shorts so those guys will win. Sooner or later I guess it has to go one way or the other. I am intrigued to see how the AIs will resolve the situation and if they will maintain some sort of fundamental plausibility. I am taking advantage of the situation, small trades in both directions with caution on longs.

A bit of a conundrum at present with pairs being influenced by the USD in directions they don’t really intend.

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Hi Admin,

Are you able to label the horizontal colored bars on charts displayed?

One has to assume to work out what each color represents. It can only be seen as ‘cryptic’ and meaningless unless explained fully. As you can see I include text explanations on my charts uploaded here.

I am assuming there are categories like:
Cyan = Long Term Short Stop Positions
Blue = Short Term Long Stops
Orange = ???
Red = ???
Yellow = ????

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As it happens I am a short trapped from late June and I have been hanging on thinking there might be a drop.

The algos will be working on you then. Are you hedging at all? Are you familiar with repairing a trade?

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Well learnt HTML, VB and php so its just a matter of time to adapt to another.

Yes CTrader is an improvement, but still has many frustrating faults/limitations. The idea for me was to get away from bad habits picked up from MT4.

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It appears they are positioning for a AUD drop with employment data in 2 days.

Shorts trapped back in June have been mostly squeezed out, some to mitigate the major short positions at break even or better. Target 0.6850.

I could be wrong, when it appears too obvious they won’t let these play out and throw in big trap moves.

Lets see

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Hey Janine,

From a retail forex point of view, I would suggest IC Markets, mostly because their data source and spreads. They had a DOS attack some years back but have been ok since. I always have a IC platform open even if its demo as the market data feeding any algos seems to be the best. I have been trading for a long time and there are others that come close. Purple Trading although new, are ok for now, CTrader definitely helps the way orders are processed.
CTrader still has its limitations, for algos/indicators that’s why I write my own (self taught).

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The inverse (cross pair) of AUDUSD above is what I see in GBPAUD.

Some great target stops above but not fully convinced this is a bottom, more likely false to be targeted for London/US official bottom placing yet to happen. Will also be seen on testing the London tops on AUDUSD.

Hope some find this information useful, not many have access to this understanding, too busy looking at candle colors and patterns.

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