My system triggered massive buy signal in AUDJPY. Price now 83. System target is 170 ! This system had 7 sygnals so far an all win. Before you say who cares I am not fx trader, observe AUDJPY again Australian stock index long term. Basically you can see high colleration with any stock index. Therefore, if this signal is right we are at start of massive bull rally in stocks. Don't say I didn't warn you. Signal will be invalidated at 77. So, I suggest buy whatever, probably resources of some sort, gold maybe, looks like stimuluses are released with massive force to ensure whole system does not collapse again. longs have been wiped out, especially massacre in gold stocks. ps: it is obvious but i will say it anyway - I am heavy into this trade
I can see it going to 86, and then 90...but 170 is beyond my imagination! where are u putting your stop btw?
Interesting. Do you have a chart or something graphical to share so as to understand the nature of your signal (its timeframe, dependencies, potential scale-issues etc.)? Sounds like a leading signal based on corellation. I haven't used such methodologically, only manually to reassure myself or get ideas. Any tips on what to read would be nice. Btw, I'm also adding positions in stocks ATM, but don't really have a leading signal other than following price. It's scary after the recent price action, which is probably why I shouldn't mess with the system right now. But it might also be a stupid decision, since I'm now ignoring overall short-term market trends, which is still heavily negative after a multiple-year bullmarket, and then got these signals. If this is the AUDJPY you're talking about, I wonder though, if your signal has scaling issues, since 170 is way above anything in the last 10 years, and would require an improbable imbalance in currencies. Try re-scaling your time horizont (period) a few times and see if your system provides stable signals, or become unstable. It also seems that the 2 yr trend in the currency is still down with no sign of bottoming yet. With caveat that I haven't really looked much at these particular instruments before.
Considering it been sideways almost past 7 years and now in downtrend, it would take ages to ever get up to 170. Risk down at 77.50, sounds insane to me.
I'm short the title u choose for your topic. If it happens again u lose a member of your audience. Ask magna politely and he might let u change your nick to something more ambitious.
signal is not based on chart pattern. However, this is last one . Hope to be able to attach - after couple attempts. Chinse market , buying at 2000