10.4 A Complete System

[rebyte2]

EURCAD is possibly my pick for the week to come.

Lots of things lining up correctly.

Again, we are at a strong S/R line with the 240 line arching nicely down.

It is trading in a channel (as demonstrated) but the RSI 2 suggests a continuation of the down. trend.

If the EURO gaps up on Monday, it will only be a hicup in the long term process. Besides, it will give me better entries at a higher level.

EURCAD coming home nicely.

The bulls fell for the false BO and are now trapped.

Last pending triggered.

Set TP just before the lower channel line.

TP triggered on all 4 trades.

It might retrace back up the channel?????

Also closed trades on EURAUD shorts.

That's me done for the night.

[DocT]

Dang i am not in this trade but where the heck is the USD/CAD going??

Hopefully that's it double bottomed now, time to go set pending long at weekly pivot etc.

[garyfritz]

Why wait for a bar to close, jump on in the water if fine. I am up 3% already today and still have 15+ live trades going. I have never understood the wait until the bar is closed idea.

It's all you can do if you're looking at historic charts, trying to learn the method by practicing on old data. But I dunno, that might not be the best way to go with this system. I'm sure not having much luck with it...

BTW I agree with your 240MA position, Bob. The "2MA on monthly" idea is great for introducing the concept of WHY 10.4 works the way it does, but you wouldn't trade it that way. The S/R zones don't stay static for a month just because you're looking at a monthly 2MA. Of course I often wonder the same thing about the weekly pivots...

[nanningbob]

4% increase of my account, no DD, over 430 pips banked and most of the trades I was in have hit or are almost at S1/R1. Closed all my trades but one and closed all my pendings. Time for bed, great day. Will see if there will be any trades tomorrow. Night.

[rosst]

Dang i am not in this trade but where the heck is the USD/CAD going??

Hopefully that's it double bottomed now, time to go set pending long at weekly pivot etc.

How about if it closes below the MA?

[etheldreda]

Should I celebrate the strong movement or should I worry because perhaps something really wrong happened somewhere in other countries.....

Anyway EURUSD, EURAUD already hit my TP, meanwhile EURCHF, EURGBP is still alive...

Bob, thank you so much for so much insight you shared today (and everyday, actually)...

[cmeade2]

WOW!!! More than 500 pips today!

[TraderDesk]

Love days like this... EUR/JPY closed at my TP at Weekly S1.... Looks like there is more steam but I will now wait for a pull back....

[zentauro67]

(EURUSD) I know this is not a thread for harmonic trading but this confluence of a bearish butterfly with the weekly res1 line (right to the pip) and RSI2 on the top is just wonderful. God bless Cypriot banks for making possible such beauty.

eurusd.jpg

[Foreverforex]

entered and exited trades on 9 pairs while I slept, account up 15% overnight. Unbelievable. played it with conservative TP's too, mutiple entries is awesome!! about 750 pips