10.6 EDSEL

[Pipstubborn]

Looks like everything is on hold ..... waiting for something, but what????

[thelearner]

ok, there is sudden moves everywhere, JPY spike up USD up too, trying to make sense of it, but there arent any high impact news. Basically if there any positions open today they will hit SL because of this.
Anyone can give any info on this?

regards

[art]

I'm not at my computer, am out of town for a few days, but just checked my short jpy trades are all negative and one stopped out maybe bob can give us a clue

[nanningbob]

ok, there is sudden moves everywhere, JPY spike up USD up too, trying to make sense of it, but there arent any high impact news. Basically if there any positions open today they will hit SL because of this.
Anyone can give any info on this?

regards

Spikes ???? There was hardly a currency that move more than 50 pips yesterday. The two most volatile eur/nzd and gbp/nzd almost moved 100. So extremely slow day yesterday. Still I follow my rules which I have stated over and over again.

1. Dont let winners turn into losers.
2. I take my profits halfway through a session
JPY sells I close halfway through the Japanese session like normal and they all reversed but I was out by then. N other words I took what the market gave me but it wasnt much.
[table 80 2]L=Pair&+/-
L=aud/jpy& +27
L=gbp/jpy& +29
L=usd/jpy&+25
L=chf/jpy& +15
L=nzd/jpy& -6
L=eur/jpy& -35
L=cad/jpy& -37[/table]
If I closed out now I would be +18 on jpy for the day but I wont do that. I know next week JPY will be selling bonds again so I hold my 2nd and 3rd entrance positions for that time. I will look to BE on those 3 trades during the JPY session today and see if the others will cross the DP up again.

Top three pairs on the daily CSS are gbp, eur, chf
Bottom usd, cad, jpy

4H CSS eur,chf on the bottom and nzd, jpy on top. Ranging markets give ugly signals. If you want to trend trade you go hide. If you want to range trade use lower TF for better entrances and exits.

So if these are retracements we look to buy eur, chf and sell jpy. If they are price reversals. then we wait for the breakouts. Its a ranging market and difficult to trade. Every single currency of my 24 trading pairs touched or crossed the 60 MA line and some did both 60 and 240MA line. Its a ranging market and those that trade ratios are getting killed. Those of us that recognize ranging market hit and run. My average profit yesterday was 26 pips.

So we will see if the markets will move today.

[Staedtler]

i haven't had 1 10.4 or 10.6 trade all week. i've been flat. so if anyone is taking trades, then i must be completely ignorant to this system because i haven't seen 1 trade setup at all

[boldtrader]

Bob,

Thank you for a great tool, CSS.

Using CSS and recognizing the markets were in range mode allowed me the opportunity to move to the lower time periods (M15 and H1) over the last few days for 19 trades in a row(so far) without any losses. Average pip range is 15 pips as I tend to exit a bit earlier at the first sign of a slowing of momentum (or Sto7 moves to opposite level) for a total of 329 pips over for the last 3 trading days.

I am trading on M15 and H1, trading in the direction of H4, entering on lower TMA channels with Sto7 <20 or > 80 and turns into the mean regressive direction back to retest a previously broken support/resistance level. Example, I wait for a market to sell down, while H4 is green. Price hits lower TMA channels && STO7 is < 20 & turns up. I trade back to mid channels or DP and close. I find many of the trades are reversing at the DP levels while markets are ranging. If a pair wants to cross the DP level, I want to see STO7 in its proper zone. ie: If UP move, I need STo7 to be < 20 and if a down move, > 80. If price moves over DP and Sto7 is > 60 or even > 80.. I pass on the trade.

Again, thanks for a great tool.

[nanningbob]

Bob,

Thank you for a great tool, CSS.

Using CSS and recognizing the markets were in range mode allowed me the opportunity to move to the lower time periods (M15 and H1) over the last few days for 19 trades in a row(so far) without any losses. Average pip range is 15 pips as I tend to exit a bit earlier at the first sign of a slowing of momentum (or Sto7 moves to opposite level) for a total of 329 pips over for the last 3 trading days.

I am trading on M15 and H1, trading in the direction of H4, entering on lower TMA channels with Sto7 <20 or > 80 and turns into the mean regressive direction back to retest a previously broken support/resistance level. Example, I wait for a market to sell down, while H4 is green. Price hits lower TMA channels && STO7 is < 20 & turns up. I trade back to mid channels or DP and close. I find many of the trades are reversing at the DP levels while markets are ranging. If a pair wants to cross the DP level, I want to see STO7 in its proper zone. ie: If UP move, I need STo7 to be < 20 and if a down move, > 80. If price moves over DP and Sto7 is > 60 or even > 80.. I pass on the trade.

Again, thanks for a great tool.

Yes and that is good trading. Recognizing the market and adjusting to it. I am glad you explained what you did but a picture would be worth a thousand words. No system works in every type of market so 10.6 and 10.4 trades are just flat right now. Adjusting to range trading until the market changes is just solid trading. Sometimes I wonder why I teach this day after day and then someone gets it and changes with the conditions of the market and they make money. When we see price move outside the 60 MA and above below the 20 lines then we can go back to trading some trends. I suspect we will get to that in March. Maybe the trend beginnings will start today or tomorrow but they will start showing up next week. Anyway post a pic or two of what you are doing so people can understand when you get a flat market read there are other things you can do.

[nanningbob]

i haven't had 1 10.4 or 10.6 trade all week. i've been flat. so if anyone is taking trades, then i must be completely ignorant to this system because i haven't seen 1 trade setup at all

10.4 and 10.6 are trend trades. Trend traders are sitting on the sidelines waiting for the trends to restart. I have been playing the DP lines in the direction of the STO 7 and have gotten some trades this week. Nothing exciting but I may get 1.5% to 2% increase of my account. If things break today or tomorrow then I can get a bigger cut of the market but its simply a grind it out affair.

[thelearner]

I apologize for the wording,english is not my mother language, i meant the currencies changing direction suddenly with big candles ('spike') -> the eurjpy,eurusd,Nzdusd drops. Sorry if it sent the wrong msg that i was nagging, I was not, just confuse of what may cause that.

regards

[boldtrader]

Bob,

Thank you for a great tool, CSS.

Using CSS and recognizing the markets were in range mode allowed me the opportunity to move to the lower time periods (M15 and H1) over the last few days for 19 trades in a row(so far) without any losses. Average pip range is 15 pips as I tend to exit a bit earlier at the first sign of a slowing of momentum (or Sto7 moves to opposite level) for a total of 329 pips over for the last 3 trading days.

I am trading on M15 and H1, trading in the direction of H4, entering on lower TMA channels with Sto7 <20 or > 80 and turns into the mean regressive direction back to retest a previously broken support/resistance level. Example, I wait for a market to sell down, while H4 is green. Price hits lower TMA channels && STO7 is < 20 & turns up. I trade back to mid channels or DP and close. I find many of the trades are reversing at the DP levels while markets are ranging. If a pair wants to cross the DP level, I want to see STO7 in its proper zone. ie: If UP move, I need STo7 to be < 20 and if a down move, > 80. If price moves over DP and Sto7 is > 60 or even > 80.. I pass on the trade.

Again, thanks for a great tool.

Yes and that is good trading. Recognizing the market and adjusting to it. I am glad you explained what you did but a picture would be worth a thousand words. No system works in every type of market so 10.6 and 10.4 trades are just flat right now. Adjusting to range trading until the market changes is just solid trading. Sometimes I wonder why I teach this day after day and then someone gets it and changes with the conditions of the market and they make money. When we see price move outside the 60 MA and above below the 20 lines then we can go back to trading some trends. I suspect we will get to that in March. Maybe the trend beginnings will start today or tomorrow but they will start showing up next week. Anyway post a pic or two of what you are doing so people can understand when you get a flat market read there are other things you can do.

Bob, absolutely. Happy to post pic. As you know, it takes many tools to build a house, and like trading, one must adjust to the constantly changing conditions. I use 2-3 setups for different market conditions. Attached is an image of how I adapted Edsel to my current tool box for range trading. The image is of H1 setups made in direction of H4 only. Obviously counter trades can be made. However, as you know, it is always easier to paddle a boat with the main river flow ( I will occasionally paddle up stream but with a motor for support). One of my main concepts by which I subscribe is mean reversion of price back to previously known (broken) support / resistance levels and further supported with GANN Octaves. I had written about this concept in Active Trader Magazine, featured waaayyy back in July/August 2000 (LOL, a life time ago). The broken support/resistance levels are almost always hit without fail. Some just take longer than others to fill, but they do get there. It is an incredible phenom I have been trading for 14+ years. What Edsel does for me is to add clarity to trend and trade direction for trending/ranging conditions. I am working on an EA for this setup, but as you can imagine, the many conditions (cases) can be overwhelming. I am a trader first & second, programmer third, so my goal is to find a programmer to help me with the coding on this. Its not a priority as I manually trade these conditions, but it is on my wish list. I have found that for my trading habits, I prefer the m15 and H1 when the setup is met. When markets are trending, I move back up to the H4/Daily.

Again, thank you and the great team here for all your contributions.

Best regards