10.4 A Complete System

[carlbrav]

Hi
First post here thanks bob for an excellent trading manual I have read it a few times now. On my platform and using the dashboard I have noticed CADJPY AO bar changing so may indicate a setup, do we wait until this bar is closed for confirmation or do we just enter when its changed colour?

thanks

[Anonymous]

The next BOJ Governor was trying to talk down the yen this morning

http://www.forexfactory.com/news.php?do=news&id=413538.

Foundamentals will trunce the indicators ??

I suppose if the yen weakens from here, those pending orders for GBPJPY and CADJPY shorts will not be triggered.

I am taking a punt with longs on GBPJPY and CADJPY (M15 to D1 charts all up).

[websie]

Hi
First post here thanks bob for an excellent trading manual I have read it a few times now. On my platform and using the dashboard I have noticed CADJPY AO bar changing so may indicate a setup, do we wait until this bar is closed for confirmation or do we just enter when its changed colour?

thanks

Hi
Somewhere further back in this momentous thread Bob says this

You are not waiting for the AO to change colors to enter. You have set pending trades while price is going in the wrong direction or is ranging. When price breaks back into the trend it will trigger those trades and also make the AO change color. Your setting of the pending trades had nothing to do with the color of the AO but the RSI 2 or STO 5 being flattened and whether you are above or below the 240 line. Those are the two key reads back into the trend

I hope that helps

[trueblueTEX]

.....difference in the two templates and RSI an Scotch indicators ...
Wiggy

Isn't it a little early for Scotch? Oh, my bad, you're in Aussie time zone. It's 7:00AM here in Texas.

Nevermind
TEX

[nanningbob]

The USD/CAD signaled earlier with the info screen showing USD strongest currencyh and Cad 2nd poorest. So setting up my trade for the USA open.

NB - my issue with this one is the strong S/R line around 1.03059 and for me therre is no RSI signal yet. I may play a bounce off the weekly pivot for a push up through S/R later in the day/week.

RSI is showing that there is very little sell sentiment. Cad is weak USD is strong. If this keeps up it will break that S/R position. When the Euro currencies go weak that leaves either the USD JPY as the strong pairs or the commodity currencies aud, nzd, cad and they are weak or in the middle.

[Gertje]

Hi,

As I promised [a little later] here are the screenshots of the plotted trades of last week.

[nanningbob]

Aud/Cad 3rd strongest but not that strong versus the 2nd weakest. Could be a nice bounce off of the 240 line. If it doesnt then no harm. Low risk some reward. Blue line on screen shows consistent support or resistance in this area. I marked the areas in grey.

Bob,

Is there any reason you are using v1 of the template (RSI) for AUDCAD and v2 for the other charts you posted...?

Wiggy

Depends on which computer I am using. I have one setup at school and the other at home.

[nanningbob]

Bob

If it breaks through the 240 would you sell it?

cmeade2

Aud/Cad 3rd strongest but not that strong versus the 2nd weakest. Could be a nice bounce off of the 240 line. If it doesnt then no harm. Low risk some reward. Blue line on screen shows consistent support or resistance in this area. I marked the areas in grey.

It must break through and then retrace to a signal to enter. Otherwise it is just a tease.

[Gertje]

And finally USDJPY

[zentauro67]

Sorry for my english. Just passing by to send a big thanks to Bob and Steve for this great system.

10.4 seems great but i miss some points of 5.0 philosophy. Trend following is no doubt more profitable than counter trending but i wonder if there is no way to use an indicator similar to old good 10.0 Sixths (in a daily TF) as a warning of exhaustion. ( i added in bob´s template just for daily)

10.4 seems act as if a trend is going on for ever, and 80% of times that is the case. Anyway sometimes is scary to bet in a continuation when price is too far away from 240 MA.

I´m having a great time reading this forum. Thanks again.