10.4 A Complete System

[nanningbob]

There are some warning signs to be careful. Yes the conditions were met but we also see triple top. In other words price had stalled here a couple of times and the entry point should be above the previous highs. This will happen though It is the reentries that is giving you trouble because you are reentering against the signals. You can see I didnt take your entrance but am reentering if price bounces up. I also showed divergance with the AO. We need to be careful on 2nd entrances when price goes against us. We should wait for a signal to reenter not hoping price goes in our direction. So the original entrance I can see why you took it but dont ingnore previous strength showing at a position and place our entrance a above a previous strong R line. The reentries is where you are making a big mistake compounding a losing position. Your positions are added above the reentry point no below it. You need to wait for a new signal for those. If I had been in that trade I probably would have killed it when I saw price was not going to break that strong R line. No need to wait for it to hit my SL. Now you can see I am set up for that trade. The SL would not be far away with the 240 MA nearby.

[WideEyed]

There are some warning signs to be careful. Yes the conditions were met but

...We need to be careful on 2nd entrances when price goes against us.

...If I had been in that trade I probably would have killed it when I saw price was not going to break that strong R line. No need to wait for it to hit my SL.

With your trading expertise you can sense conditions that demand an exception to the 10.4 rules, Bob, and/or go by gut feeling. How do we get some of that gut feeling off of you?

[websie]

I am not using the NT TMA True Slope but since putting the new, updated 10.4 template on it is now also making the top and bottom of the yellow line run into the top and bottom of the box, I cannot find where to fix it

It is supposed to be like that - it is the equivalent of the "Flat part" of the RSI(2).

Cheers,
Dave.

Oh, ok thanks v much

[pipchaser]

HI..Just to check my precption of the 10.4 rules...EUR/usd I should be submitting a pending order at the weekly SptRSI flat on bottom, AO is all red, price has tested weekly spt 2 twice already.. Comments corrections??/Thanks in advance

[nanningbob]

There are some warning signs to be careful. Yes the conditions were met but

...We need to be careful on 2nd entrances when price goes against us.

...If I had been in that trade I probably would have killed it when I saw price was not going to break that strong R line. No need to wait for it to hit my SL.

With your trading expertise you can sense conditions that demand an exception to the 10.4 rules, Bob, and/or go by gut feeling. How do we get some of that gut feeling off of you?

It is not so much gut feeling it is the system is designed to add positions ad the trend continues not add positions as it retraced. The central theme of the system is one level losers multiple level winners that is what I am trying to teach. Anyone could have read that trade and taken it even me. It is the added trades when no trade signal was there. Now there is a second signal for a lower risk recover trade. That is what I think I want you to see.

[lhDT]

I've just set a pending long on NZD/JPY at 77.69.

I like :
- Uptrend
- If price reverse now, we have higher highs, higher lows
- Yen isn't over yet
- Plenty of space to the upside
- MA trending with a nice slope
- Price not so far the MA (sl 74 pips)

I dislike :
- Broke down the upper trendline, so can be just a final push north then a freefall.

Comments, welcome.

[sponn]

Hello IhDT. All yen pairs looks still good (except gbp/jpy when 240 ma is broken) but...

I believe that you should watch u/jpy for a clue. If usd/jpy doesn't hold ma240 (still a room to go down on this pair) we can have major reversal on jpy pairs (rather some reverse in new (3months old) up trend)

[Jedster]

I've just set a pending long on NZD/JPY at 77.69.

I like :
- Uptrend
- If price reverse now, we have higher highs, higher lows
- Yen isn't over yet.

I dislike :
- Broke down the upper trendline, so can be just a final push north then a freefall.

Comments, welcome.

I've been keeping my eye on the NZDJPY all week. I think there is room for a little more downside and I see it just going past the MA and hitting support at BRN 77.00.

The pending entry would possibly be around the same point, although if this drifts to early next week the pivots would have changed and so the entry will be different. So I'm hanging on a little before I set the pending order...

J

[WideEyed]

Bob, you were mentioned in the Forum Members' Signal Service thread where they are talking about a potential arrangement where experts (like you) charge for a signal service. Newbies would then benefit from not just your theory but your interpretation of the charts as well. However ....

...That is what I think I want you to see.

I really appreciate that your goal is to teach people to fish.

[lhDT]

Closed AUDUSD Short when AO changed color to green.
Results : +85 & +57

Niiiiice

NZDJPY long at 77.689 has been triggered.