10.3 SCALPER/RANGE TRADE SYSTEM

[nanningbob]

gbp/nzd 35 pip profit 15 pip SL over 2:1 ratio.

Hi Nanningbod,

Thanks for your new trading method. I am a bit confused. Is it not black line-daily pivot and the red line-daily open? Sorry for the blunt question. Thanks in advance.

Roy

Just ignore the wording as I clean up a simple mistake.
Red above black BUY Red below black SELL.
There should be no confusion over such simple instructions. They were just mislabeled doesnt change the rules.

[atharmian]

Bob,

Thanks a million for your quick replies (and sorry to mis-label you Don, an error I was correcting just as your reply post had come in.)

Speaking of mis-labeling, don't you think the DP (-15.3) line that coincides with the black DO line should actually be labeled DO (-15.3) instead, since this is what it really is?

If I am right then maybe this mis-label is what has been confusing a lot of folks here, who then have been mistaking the black DO line to be the DP line !

Athar.

Don,

First, Happy Grandpa Day , beats Halloween any time, especially with you cracking the range code 10.3 as well a couple of hours before Lia, besides discovering the 10.2/A trend !

Second, excuse my muddle headedness having read all the comments mixing up your simple formula ( looks like Steve has yet to open his Gimme Your Hair thread after so many conflicting comments.)

1. What s/r do you mean ? DS1/DR! ? Daily Support 1 and Daily Resistance 1. You will see them on the right side of the screen.
2. I see that the thick red line is DP, the black one DO (what is your DO time frame?) DO is Daily Open. It is where price starts the day. If you look at daily charts most candles are full bodied meaning if price gets going in one direction it tends to stay that way for the day. I have always wanted to trade off of the open but never could find something that worked. Maybe this will.
2. So what is this dashed line saying DP (-15.3) coinciding on the right with the thick black DO?That is how far price is from that line.
There is also another dashed line which reads DS1 (-41.3.) This has confused me, having earlier taken the thick black line as the DP with the coincident dashed line DP (-15.3) label.Daily Support 1 and then the distance price is from that line. That lets you know if the trade is worth taking or not. Are there enough pips there to bother with the trade?

I think the DP (-15.3) means that this DO level is 15.3 pips below the thick red DP line drawn on the chart.

But I will let you tell me the real story... if these lines are offsets of the respective main labels, DP, DS1, DR1 then they are confusing These numbers help me in placing my order. If DR1 daily resistance 1 is 40 pips away then I am looking at a 25-35 pip profit for the trade. If it say 15 or 20 then the trade may not be worth taking.

Athar.

[thelearner]

Another simpleeeee system...Thank you NB! you rock! Congrats for your new born granddaughter.

[fx800]

Hi Bob,

Many thanks for yet another winner !

EU short from 7 am has already hit TP of 20 pips.

Xie Xie Nin !

Cheers,
peter

[Faramirsen]

G/A worked well +18

[nanningbob]

gbp/usd 20 pips and gbp/nzd 22 pips hit tp. that was nice. aud/nzd -9 pips hit my trailing SL Go home from school and see what is next. I am in usd cad

[fx800]

DJ30 short.

Let 's see what happens.

[Mortiiy]

Thanks Bob for opening my eyes....

My approach to the red and black line.... Chaos active trader.
The area between red and black, no-trade zone.
Euro Open (2hr killzone). Price breaks any line, red or black outward from inside the zone, trade in that direction. If price already broke out before euro killzone, enter on next fractal break.

(I think that rules out the initial red/black/direction confusion for me...)

[nanningbob]

I set up aud/usd short. Eur shorts were good today. I didnt want to trade them because the lines were so tight but dang they went with the red below the black. Oh well.

[disbellj]

Bob,

I have to say I misinterpreted things and can say this is not what I had been thinking about. I had been thinking long long time on going with H4/H1 direction, taking reversals after Semafor on H1, but trading on M15. Never trading against the H4/H1 agreeing direction, but always with. Then when I saw H4 pivots on chart since AllTFPivots, I've been thinking of price below H4 open and H4 pivot. So your system is definitely different than what I have been thinking about. Thank you for sharing your ideas!

Kindest regards,

Don