10.4 Advanced and Counter

[mjws00]

I did lighten this trade on loss of momentum as I suggested. Missed the current swing low as I didn't want to bail prematurely... then had to sleep and NY pillaged my dreams for a few hours. I'm more used to daily atr and pivots than the weekly ones, so it won't be the first time I take profit early.

The remaining half will have the stop trailed aggressively if the bears can't get their crap together.

[mjws00]

Next idea based on a few of Bob's comments.

Selling AUDUSD here. Looking for break of last weeks pivot and prior R1. Lots of std resistance. Tag of ATR range. This one is with the 10.4 trend and we have a std 10.4 pending which I will take. Nice tight SL 20 pips should be plenty, but I'll tolerate a test of upper TMA 240 (steel blue on my chart) @ 1.03780.

TP1 is just north of Weekly pivot at 1.03145. There is some support in there I'm wary of. If it is taken without incident I will hold and look for WMS1.

Mike

[mjws00]

My EURJPY remaining free-ride got tagged at BE. Still took a chunk. But in this case being patient and going for the longer term trade cost me. There was plenty of time to exit at the bottom of that last swing low on loss of momentum. We were up 100 pips.

I'm still not willing to get long here. With a little risk, one of the close levels may hold not to mention 126.00. But if I tighten my stop or go BE I am disciplined enough to stay the course. Probably won't re-enter unless it looks perfect.

On to the next one.

[mjws00]

FLAT AUSUSD +12. Waiting for London.

Feels like the pivot will hold and don't know how AUD will react on NZD sell-off. All my profits from 10.4 off the table for now. Will live to fight another day

Mike

[nanningbob]

Just a word here take profits early in the week let it ride later in the week.

[mjws00]

AUDUSD trade idea worked nicely only 10 pips from top. Vanilla 10.4 entry free ride.

LOL. I was literally asleep at the wheel. But I know lots of 10.4 folks are nicely ridin.

[mjws00]

EURCAD.

Pure 10.4 Setup. I tell you I am loving that 4H TMA (RSI) ! Entry was with the pending on break of WR1. Trading back towards 240. I took half off, went BE, and am targeting Weekly Pivot.

Of course most of the vanilla 10.4 were even stronger on the recent big move. But we have a thread for those.

Mike

[Gertje]

AUDUSD trade idea worked nicely only 10 pips from top. Vanilla 10.4 entry free ride.

LOL. I was literally asleep at the wheel. But I know lots of 10.4 folks are nicely ridin.

10 more pips and it added 2% to the balance....

[mjws00]

Nice one. Did you pyramid it at the pivot?

[Gertje]

Nice one. Did you pyramid it at the pivot?

No, didn't make the mr1, started at the pivot and added at ms1. TP at s1.