10.4 A Complete System

[nanningbob]

Aud/jpy has done a classic retrace for 10.4. Went down to 10.5 on 1H and saw this. I am loaded for bull meat today. It is Friday so let em rip time to play for the bigger moves. TJ would be proud of this setup I think.

[nanningbob]

Eur/aud, I will play for it to break its previous low. Aud strong/Eur 2nd weakest. Old fashion breakout trade.

[TraderDesk]

CSS aud is on top and jpy and euro are on the bottom time to go look for some trades.

Also I look at the CSS on the 15M TF to get a sense of direction and JPY is losing it strength intraday and AUD is getting stronger. I only look at the currencies at the moment and disregard what it shows previously. I don't trade on this but I do use it to give me a visual picture of currency strength right now.

Daily CSS is what I am using to help decide what currencies to trade and how long to stay in them...

[nanningbob]

USD/JPY signal is good on 4H chart went to 1H to set my pendings. Already entered. Notice the double bottom on the 1H chart and TJ rules apply also. I like my bull meat burgers with mushrooms and fried onions cooked in butter. MMMMMMMMMMMMMMM

[nanningbob]

NZD looking to pass gbp for 2nd place on CSS so nzd/jpy here we come. I like the JPY today.

[nanningbob]

GBP a weak #2 on CSS but JPY bottom of chart, so if NZD does not pass GBP that means GBP will move up stronger in its #2 position. Well ........... maybe.

[cjthomson]

Bob,

GBPUSD - when price moved up to the 240 yesterday I stuck in a pending to go short. It spike down and got me in the very next candle. Since then its hovered with a bunch of inside bars with me staring at DD. Looking at the probabilities on this position it still looks valid (CSS aside) i.e. if I wasn't already in I'd prob put a pending in. The only concern is that I now have the daily Piv between current price and my b/e. GBP on the CSS is at spot #2 suggesting I'm on a loser.

Its in these situations when I am unsure on whether to cut losses and exit or to hold and let it play out. So, WWBD (What Would Bob Do?)

[I see your last couple of posts talk about possible GBP strength so I assume the answer to WWBD is: Bob wouldn't be in this trade!]

[nanningbob]

I have over 25 pending trades. Most of them will not take but if for some reason they do, I might have my first 1000 pip day. Price would really have to jump to catch all of them. If price doesnt then I am not in. Something is going to hit. Anyway back to work for me.

[rebyte2]

Bob,

GBPUSD - when price moved up to the 240 yesterday I stuck in a pending to go short. It spike down and got me in the very next candle. Since then its hovered with a bunch of inside bars with me staring at DD. Looking at the probabilities on this position it still looks valid (CSS aside) i.e. if I wasn't already in I'd prob put a pending in. The only concern is that I now have the daily Piv between current price and my b/e. GBP on the CSS is at spot #2 suggesting I'm on a loser.

Its in these situations when I am unsure on whether to cut losses and exit or to hold and let it play out. So, WWBD (What Would Bob Do?)

[I see your last couple of posts talk about possible GBP strength so I assume the answer to WWBD is: Bob wouldn't be in this trade!]

The issue i have with that CJ, is the 240 is bottoming out, suggesting a possible change in trend.

Good luck.

[Guest]

USD/JPY signal is good on 4H chart went to 1H to set my pendings. Already entered. Notice the double bottom on the 1H chart and TJ rules apply also. I like my bull meat burgers with mushrooms and fried onions cooked in butter. MMMMMMMMMMMMMMM

going to be some nice DD