10.4 A Complete System

[cmeade2]

Steve

Believe it or not, but I am not trying to be difficult here.

I am only trying to provide helpful comments based on my experience trading RSI(2).

Albeit my experience might be quite different from what Bob wanted to put into 10.4. And all I am saying is there might be some ambiguity there. Nothing more.

Thanks again for your efforts on this forum.

cmeade2

Allison

I don't know the details of Bob's thinking when he put together 10.4. I had only communicated with him on the RSI(2) issues.

Then why are you weighing in so heavily here?

On the one hand you say

I don't know the details of Bob's thinking when he put together 10.4.

On the other you say

I think I understand this system more than you can imagine.

If you do not understand the rest of it, should you really be commenting about our trades/prospective trades/pending trades/anything other than RSI(2)?

Oh stuff being tactful. This is my forum so I do not always have to be nice to everyone. You appear to be saying that:

• 1) You understand 10.4 better than the rest of us.
  2) You only understand RSI(2)

Dammit, which is it? Get a grip.

Not that I care. Leaving my ridiculous misunderstanding about breakeven aside (and I at least admit to that piece of bog-basic stupity) 10.4 is pretty basic. Why are you confusing things with your 'I do....erm...I don't....erm....yes I do.....erm" stuff?

If you have nothing useful to say, then stop saying stuff that is not useful.

[cmeade2]

Allison

The fact is that I have been looking for all of the GBP pairs to reverse, which would be consistent with the larger trend. And so, we are looking for the same thing.

The point is, given my previous comments, I don't think we are there yet on this pair. The Nzd continues to be incredibly weak and the Gbp is actually increasing in strength. Which is consistent with the RSI(2) and AO data.

And so we need to wait for a break.

That's my 2 cents

cmeade2

what do you guys think about GBP/NZD ? looks like we might have a short position, but i would like some feedback

[wolfeman]

I like it too, alli. I've got a pending short at 8265

what do you guys think about GBP/NZD ? looks like we might have a short position, but i would like some feedback

[cmeade2]

Allison

I wish I could post an image but my software is screwed up right now.

The point is that I think the GbpCad is where you want to focus for a short right now. The RSI(2) is coming down and the AO bar has flipped to red. And all of the other trend information is negative.

There are some other issues to think about, but from a 10.4 perspective this is a total short in a my view.

Of course I may be wrong.

But I wanted to share my views.

cmeade2

I like it too, alli. I've got a pending short at 8265

what do you guys think about GBP/NZD ? looks like we might have a short position, but i would like some feedback

lol yeah, i was looking at the same thing

[mjws00]

GBPNZD. Since we're all betting. I say. We tag 1.8383ish where we had serious supply 4 days ago... and this is around LO/NY high yesterday. We'll go sideways just a touch. London or NY spikes it to take some stops in or around 1.8400. Lets go with 1.8407... If the bears can't get their act together last weeks pivot is in play. I'd be selling WR2 up there all day long.

I'd give my pendings a ton of room and let them trail and come online, getting me in on a surprise spike down. If I could only have a 10 pip stop I'd long this sucker and sell into the high, where I'd reverse on weakness. But I got no crystal ball.

What do I win?

[cmeade2]

On my chart the GbpCad has just broken through the WP.

Allison

The fact is that I have been looking for all of the GBP pairs to reverse, which would be consistent with the larger trend. And so, we are looking for the same thing.

The point is, given my previous comments, I don't think we are there yet on this pair. The Nzd continues to be incredibly weak and the Gbp is actually increasing in strength. Which is consistent with the RSI(2) and AO data.

And so we need to wait for a break.

That's my 2 cents

cmeade2

what do you guys think about GBP/NZD ? looks like we might have a short position, but i would like some feedback

for some reason my chart's aren't showing Weekly support or resistance levels on that specific pair

[wolfeman]

allison, when I have that problem I will change TF to weekly, then daily and back to 4HR. That usually does the trick. It may take a few minutes to display (I've seen that a few times too)

[cmeade2]

OK here is my version of the GbpCad showing the WP

On my chart the GbpCad has just broken through the WP.

Allison

what do you guys think about GBP/NZD ? looks like we might have a short position, but i would like some feedback

for some reason my chart's aren't showing Weekly support or resistance levels on that specific pair

i think maybe my indicators are conflicted.. every other pair is fine, except this one

[cmeade2]

At the turn of the H4 (9 pm EST), I see the GbpCad/short as the only new candidate for a trade under 10.4

[Wiggy1965]

Allison

I wish I could post an image but my software is screwed up right now.

The point is that I think the GbpCad is where you want to focus for a short right now. The RSI(2) is coming down and the AO bar has flipped to red. And all of the other trend information is negative.

There are some other issues to think about, but from a 10.4 perspective this is a total short in a my view.

Of course I may be wrong.

But I wanted to share my views.

cmeade2

I like it too, alli. I've got a pending short at 8265

what do you guys think about GBP/NZD ? looks like we might have a short position, but i would like some feedback

lol yeah, i was looking at the same thing

cmeade2,

I agree GBPCAD is going short however the 10.4 drew out attention to this trade setting up over 24 hours ago....I have taken it short, but it really didn't meet Bob's 10.4 trade set-up rules 100%, so this is a discretionary trade on my part, so if it fails I'll blame myself for not following the entry rules religiously...

In relation to the GBPNZD, this appear to be to be the perfect 10.4 setup for a short, no question....I have been a bit more conservative and placed sell orders at the mid pivot, however a more aggressive trader may already be in the trad at Weekly Res 1....

You maybe right about the GBP reversing, however 10.4 is showing a short and i don't see a lot of evidence apart from the fact that the GBP has been down trending for a while now, so has to revers sooner rather than later.....I have not traded 10.4 on other pairs where i see other evidence of a change of direction, the JPY pairs as a recent example.....These were showing a number of long signal but continued to make lower low and highs back towards the 240MA and then eventually through it....And now we are looking shorts for JPY....

Regards
Wiggy

PS, I enjoy your comments...