10.4 A Complete System

[nicoacademia]

closing out everything.

[aworex]

It seems there's a change in trend direction in the GBP, CHF AND THE DOLLAR, looking at all the daily indices of these currencies there appears to be strong reversal pin bars moreover, the all three seems to be exiting their exhaustion zones which might imply a temporary pause or change in trend direction. Been giving back most of my hard earned pips this week but who knows there's always tommorrow..

[sponn]

Looks like reversals... most of pairs has broken ma 240 or is close to brteak it. especially gbp and chf

[Chris]

I am in a USD/CAD trade from days ago WMR1 it is heading south and could potentially give another 10.4 signal if it does not go all the way to the 240. I like the daily, from other trading systems I follow this area would be a buy zone. So I am tempted to possibly put another pending at the WS1, maybe even WMS2, if it goes that far. What do you all think? I Know if I was not already in this trade I would be setting up for it. So if nothing else this is a heads up for everyone to take a look at the USD/Cad. STO is there and RSI is almost there. AO is below 0.

And a 5min W is setting up

[Wiggy1965]

I am in a USD/CAD trade from days ago WMR1 it is heading south and could potentially give another 10.4 signal if it does not go all the way to the 240. I like the daily, from other trading systems I follow this area would be a buy zone. So I am tempted to possibly put another pending at the WS1, maybe even WMS2, if it goes that far. What do you all think? I Know if I was not already in this trade I would be setting up for it. So if nothing else this is a heads up for everyone to take a look at the USD/Cad. STO is there and RSI is almost there. AO is below 0.

And a 5min W is setting up

My view is, it is in a bit of a down trend on the daily and could go as you say beyond the MA....If it was to stop and return right now at WS1, i would want good confirmation that it has continue with the trend, so i would not be in before WP....RSI is still suggesting further sell offs....

Wiggy

[zentauro67]

Two weeks now trying to apply 10.4 rules and results are quite promissing. I´m using just RSI2 template and two scripts to place pendings SL and TP.

I spend most time analyzing my failed trades, searching for some extra rules to filter dangerous 10.4 setups. Until now, I have three NO TRADE rules that i would like to refine for a better use in the future. Any thoughts are welcome.

RULE 1. No trade if price is 350 pips (or more) away from 240MA. At such distance retrace could be hurting.

RULE 2. No trade if first profit target (pivot or midpivot) shows a previous double top or bottom.

RULE 3. No trade if the pair has been under or above 240MA for three months. (Trends statistically don´t go further and a reversal could be imminent)

To apply rule 3 i need to zoom out the chart and is painful. It would be great any kind of exhaustion indi to show a signal when price has been more than three months under or above MA.

[cjthomson]

After a 10% + week last week, I've had a very different experience this week. So far:
USDCHF - took a small profit on position 1 but position 2 hit SL so small net loss
NZDUSD - small profit on position 1, position 2 still in play (see picture)

A few other 1st entries in play but seeing some draw down right now.

I'd value some input on the pending positions I've got queued up.

[Chris]

My chfjpy triggered, did any one else?

[mjws00]

Yep. Textbook and the bot got this one. We are mighty late to this party. But there is a good chance WR1 and those highs get tested. My gut says, it will stall before it gets there and reverse back to WP before we see any real gains. I may take 1/2 at ~101.85 and go to BE. Frankly I'm all over the first short below the 240.

Gotta get em all.

[cmeade2]

Where did you get in on the nzdchf?

My chfjpy triggered, did any one else?

yup mine too, i'm in at MR1. I've also still got an open nzdchf trade since yesterday. keeps bouncing off MS1. my SL is the MA