10.4 A Complete System

[Gertje]

The Euro is going down I am at S3 and S2 all over the place. Do I have the stomach to go to S4 or S5. This is only Wednesday, wonder what Thurs and Friday will be like. What are we going to use to reenter, just guess. I just am beginning to understand that retraces give me security. Bottomless drops, well that is something new for me. I have usually been on the wrong side of these things. Pity the poor guys who loves the STO indi wondering when this dang thing is going to quit bottoming out. LOL

What about the 'emerging pivots' indi from Baluda ?

[nanningbob]

The Euro is going down I am at S3 and S2 all over the place. Do I have the stomach to go to S4 or S5. This is only Wednesday, wonder what Thurs and Friday will be like. What are we going to use to reenter, just guess. I just am beginning to understand that retraces give me security. Bottomless drops, well that is something new for me. I have usually been on the wrong side of these things. Pity the poor guys who loves the STO indi wondering when this dang thing is going to quit bottoming out. LOL

What about the 'emerging pivots' indi from Baluda ?

That was for the weekend. It would plot the probable pivots S/R for the new week so You could prepare over the weekend. That wont work now. What also will happen is next week we will get these huge S/R lines and we will be lucky to get from one line to another. 10.5 lines probably will be more valuable next week.

[TraderDesk]

I also closed my euro sells.... Just on E/J I have sell limits up to 120.70 targeting the 120 level as well as 119.70... there is a chance that 119.10 area can be reach but that is not my TP for today...

The Euro is going down I am at S3 and S2 all over the place. Do I have the stomach to go to S4 or S5. This is only Wednesday, wonder what Thurs and Friday will be like. What are we going to use to reenter, just guess. I just am beginning to understand that retraces give me security. Bottomless drops, well that is something new for me. I have usually been on the wrong side of these things. Pity the poor guys who loves the STO indi wondering when this dang thing is going to quit bottoming out. LOL

What I do in these cases is basically use a 5 minute chart and apply a smooth Heiken Ashi. Every time PA gets with 10-20 pips I open another position in the same direction of the trend... when PA near the target TP stays in my favor I let it run. Only when PA crosses the HA average do I close out my remaining positions.... Helps to maximize pips for me...

[TraderDesk]

Here is an example where twice you would see have sell limits in the last hour... Also PA says leave your positions open for now...

[TraderDesk]

Bob, I must say again I really like the 10.4 framework you came up with... I am adding a few pieces of my own trading methods and it is working very nicely indeed....

[padnoter]

Hi TraderDesk,
What indi are you using for the smooth HA? and what settings please?
Cheers

[zentauro67]

Hi, Wiggy

That´s just what i´m doing, staying out and looking for easier setups. But i wonder if these kind of trades close to de MA are or not missing chances.

Greetings!

My experience of taking trades when price has been close to the 240 so far seems to be a negative one. Too close to the MA almost suggests an amount of uncertainty - which way will it go. Seeing we're into capitalising on stacking probabilities I'm tending to stay out of trades where price is too close to 240. Just my thoughts, keen to hear anyone else's opinion.

I completely agree. The most interesting scenario about a significant ma (240 lw here, 200 sma for most traders) is when a prolonged constrainment prepares an explosive movement (in one of the two directions) . I refer to this scenario when I speak of lost opportunities. I find interesting a small bug (I assume it's a bug, not sure) that i have seen in Mrlong´s 10.4 EA. When the price hits up and down the 240ma, pendings are sent to the pivots up and down (sell stop and buy stop at once). It seems a mistake, but who knows? may be there is some unconscious wisdom here, given that a big move is imminent. This kind of constrainment is just a gathering of momentum before the market show its hand. The risk is obviously a high-impact news, activating both orders, so an OCO would be welcome.

[TraderDesk]

Hi TraderDesk,
What indi are you using for the smooth HA? and what settings please?
Cheers

Hi... the indi I attached to the post and it is just one of many from FF that has been around forever.... It also has an alert as well...

Settings depends on the currency, time-frame and volatility but I like it at 2,20,3,3

[spillini]

Aud/Cad possible

[TraderDesk]

A quick look at E/J for the next two days with 10.4... I am looking at the STO version but you can use RSI as well... STO has flatline at B and AO is negative showing red... True to form today the range was 192 pips which is very close to the 201 ten day average...

What can we expect? Well I don't know but I do look at probabilities. Usually after a day like today we would expect PA to rise. How high I don't know but I am looking at WS1(121.80) up to Weekly mid support 1 which is around 122.40-50... Now when will PA again start to fall from these levels? I would look at Friday around 0800gmt for PA to become bearish once again....

Any thoughts?