10.2 for Dummies

[nanningbob]

Just for a hint look at the Daily on the USDCAD. It has been above the monthly pivot for about 2 months now. It just retraced back to the weekly pivot on the 4H chart and bounced off of the weekly pivot last week. Look to play the bounce off of the weekly pivot on the 4H chart. Both daily and 4H slopes are ranging so they dont figure into the decision process right now. How can you do that? Put the 5.1 buy EA on the 4H screen and see if it will go up to R1. If the trade breaks south and continues down, you are not in. If it breaks north and enters. You have a solid trade that is following the upward trend of the last two months. Good luck.

[SteveHopwood]

I have deleted a few posts here tonight. They were not in the spirit of a Dummies thread, either in their query or response modes.

No criticism intended of any of the parties involved.

[forexripper]

Just for a hint look at the Daily on the USDCAD. It has been above the monthly pivot for about 2 months now. It just retraced back to the weekly pivot on the 4H chart and bounced off of the weekly pivot last week. Look to play the bounce off of the weekly pivot on the 4H chart. Both daily and 4H slopes are ranging so they dont figure into the decision process right now. How can you do that? Put the 5.1 buy EA on the 4H screen and see if it will go up to R1. If the trade breaks south and continues down, you are not in. If it breaks north and enters. You have a solid trade that is following the upward trend of the last two months. Good luck.

Thanks a lot. Any other hints. How about EU and GU and EJ, GJ and CHFJPY

[nanningbob]

Just for a hint look at the Daily on the USDCAD. It has been above the monthly pivot for about 2 months now. It just retraced back to the weekly pivot on the 4H chart and bounced off of the weekly pivot last week. Look to play the bounce off of the weekly pivot on the 4H chart. Both daily and 4H slopes are ranging so they dont figure into the decision process right now. How can you do that? Put the 5.1 buy EA on the 4H screen and see if it will go up to R1. If the trade breaks south and continues down, you are not in. If it breaks north and enters. You have a solid trade that is following the upward trend of the last two months. Good luck.

Thanks a lot. Any other hints. How about EU and GU and EJ, GJ and CHFJPY

Look for good reentry points on JPY sells there is where I have been doing well all week. GU just bounced off of weekly pivot have the 5.3 EA sell there.

[forexripper]

Just for a hint look at the Daily on the USDCAD. It has been above the monthly pivot for about 2 months now. It just retraced back to the weekly pivot on the 4H chart and bounced off of the weekly pivot last week. Look to play the bounce off of the weekly pivot on the 4H chart. Both daily and 4H slopes are ranging so they dont figure into the decision process right now. How can you do that? Put the 5.1 buy EA on the 4H screen and see if it will go up to R1. If the trade breaks south and continues down, you are not in. If it breaks north and enters. You have a solid trade that is following the upward trend of the last two months. Good luck.

The hints worked. The only thing now confusing me is the start point. ie. should I start by looking at pairs with above/below 0.8/-0.8 slope or should the start be the order of WP and MP and now DP.
As your hints probably were from option #2. Please advice.

[Jemook]

forexripper sorry for lashing out earlier I'd just woken up on the wrong side of bed. Here's how I would trade if I were you.

1. Look at the order of the pivots for direction and enter when price crosses the daily pivots in the correct direction.
2. Hold the trade depending on the strength of the move. If it is above/below .4/-.4 then aim for next pivot. If it is above/below .8/-.8 then try aim to hold it longer past the pivot.
4. If it closes back on the other side of the pivot (anti-trend) shut your position.

SIMPLE I cannot explain this any clearer.

[forexripper]

forexripper sorry for lashing out earlier I'd just woken up on the wrong side of bed. Here's how I would trade if I were you.

1. Look at the order of the pivots for direction and enter when price crosses the daily pivots in the correct direction.
2. Hold the trade depending on the strength of the move. If it is above/below .4/-.4 then aim for next pivot. If it is above/below .8/-.8 then try aim to hold it longer past the pivot.
4. If it closes back on the other side of the pivot (anti-trend) shut your position.

SIMPLE I cannot explain this any clearer.

got it sir. I was working with slope strength and then go to MP, WP, DP settings etc. Now I got it.
However, even with your strategy, why should have I taken GU short and UC long trades as adviced by NNBob himself. Part 1 of Pivots in line is correct but slope strength???????

So when you say slope I guess it is D1. What time frame to use when entering a trade. I think you like H1. So price crosses and not closes. Right? So TF is important now.

[forexripper]

Thanks NNBob for the hint. Close GU short for 60 pips. UC still open in small green.

[Jemook]

All TMA discussion moved to here:

http://www.stevehopwoodforex.com/phpBB3 ... f=37&t=587

[xrismak]

Trader
Posts: 143
Joined: Sun Dec 04, 2011 1:23 pm
Posted: Tue Jun 26, 2012 11:39 pm
Just for a hint look at the Daily on the USDCAD. It has been above the monthly pivot for about 2 months now. It just retraced back to the weekly pivot on the 4H chart and bounced off of the weekly pivot last week. Look to play the bounce off of the weekly pivot on the 4H chart. Both daily and 4H slopes are ranging so they dont figure into the decision process right now. How can you do that? Put the 5.1 buy EA on the 4H screen and see if it will go up to R1. If the trade breaks south and continues down, you are not in. If it breaks north and enters. You have a solid trade that is following the upward trend of the last two months. Good luck.

Hi Nanningbob,

Just like you said, I did just all of the Above except that I made my exit just before the Weekly Resistance and I am AMAZED at the Profit Margin , I now need to go back and Study your 10.2 Manuals very very well.

Many Thanks for the Head's Up on this trade, wish every day was like this.

Regards,

xrismak