10.4 A Complete System

[nanningbob]

Interesting post on Australia and the USD.

http://www.zerohedge.com/news/2013-03-3 ... currency-c

Some people will say this proves the decline of the dollar but in reality it is just plain common business sense. If you convert directly with the country you are trading with (RMB with JPY or AUD or NZD, etc.) instead of an intermediate (like the USD) you save a ton of money every year. It is just plain good business sense. The danger though is China's, so called win-win deals, end up being tilted in their favor and then it is not such a good deal anymore. They like to renegotiate after a while. I have always been amazed at how I will find a good Chinese business to do business with and then when you come back that 3rd or more time, the price goes up and the quality goes down. It is so common for them to do business this way. So good luck Aussies, it is a good deal and saves a bundle on exchanging of funds, but I suspect down the road the deal may get tilted but still better than trading through USD. My view is I expect as more nations become developed economically trading direct currency exchange will be the way to go and the USD will be one of many reserve currencies not just the main one. It will be interesting to see if China RMB will ever become a true free floating currency that will be traded worldwide or be a control currency with govt. intervention often enough you really wont want to trade it.

[nanningbob]

CSS read. Almsot everything is positive and Euro is negative. What the GBP is doing on top I dont know but it made it. Not sold on that concept but if Europeans are selling their Euros and buying pounds, especially in Cypress then I guess I can understand that. USD dropping makes some sense because of our stupid Congress and President dont understand the simple concept that balancing a budget is more important than some stupid political principle.............. awwwwwwww dont get me going on that. Pass a budget already morons.

Euro sells, a monkey can trade that currency at this moment. The rest are trying to figure out where they belong in this mess. I would still be bullish on AUD,CAD,NZD when trades are available. GBP dang, hey you Brits explain that one to me.

GBP may be benefiting Bob from end of month flows.

Definition of this given by Jamie Colmen at Forex live to give him credit.

Some fixes tend to be more active than others. Some of the busiest come at the end of the month when passive investors rebalance their portfolios. Here is a simple illustration: Let’s say the US equity market outperforms the European market by 5% in a given month. That will make the portfolio 5% longer of dollar’s than it was at the beginning of the month. Managers of passive portfolios (like index funds) will sell the “extra” dollars and buy euros to bring the overall fund back into balance.
These flows can be very heavy at the end of the month and particularly heavy at the end of a quarter.

So GBP may not be reflecting any fundamental move especially with us in an Easter Break but rather a quarter ending rebalance.

That makes sense. Generally if one of the 3 euro currencies is doing very well or very bad the other two get drug along with it. The CHF is pegged to the Euro so it is declining with it and the GBP showed some unusual strength at the same time. So I think I will stick with my GBP sells and hang in there.

[rebyte2]

Are we seeing a changing of the guard, in relation to.AUDJPY?

Maybe for many xxxJPY pairs. But i will focus my attention on the AUDJPY.

[rebyte2]

" I think i've made the right decisions on those EURCAD, EURGBP shorts ..."

Looking at the latest 10.4 v5.0 template, RSI is on the wrong end for EURGBP isn't it? EURCAD has RSI on the sell side right now, though.

EURGBP was an entry for me last week.

[rebyte2]

Looking weak?

Those are my 4 picks for the week.

Good trading to all.

[nanningbob]

Are we seeing a changing of the guard, in relation to.AUDJPY?

Maybe for many xxxJPY pairs. But i will focus my attention on the AUDJPY.

It maybe the quiet before the storm. The pieces are in place for policy to be implemented. Before this everything moved based on talk, now moves will be generated based on action. We will now see if the platform run by the newly elected JPY officials will now be carried out. They have the bank officials they want, now they can run their legislative program. Of course we know how politicians will carry out what they promised in public. Right??：）

[Nicastro]

Hi everyone ... MurphyMan suggested some changes and update for the cheat sheet ...
so here it is
Wish all a profitable Trades with Ten4n5 ...

Hi, this is a great crib sheet! Precise and concise.
Does anyone have/know if there is a similar crib sheet for Captain Jacks thread?

[TraderDesk]

E/J has been heading south finally...Easter Friday kept the trading ranges tighter then normal... Pivot levels are looking better though... Looking to see PA down to around 119 which is WS1 as well as the ADR low... Markets are thin though so we will see...

[TraderDesk]

E/J has been heading south finally...Easter Friday kept the trading ranges tighter then normal... Pivot levels are looking better though... Looking to see PA down to around 119 which is WS1 as well as the ADR low... Markets are thin though so we will see...

On a more liquid day I would look to add to my sell positions here at 120.230 Wmsp1 line which equates as well to my Heiken Ashi 30 minute TF but today is not normal so I will see if PA goes above it. If so I will close my existing positions from last week and wait for a new sell opportunity. If PA goes back down then I let my positions run until TP at around 119...

[nicoacademia]

just a general DJIA SPX observation to clue in the movements in the CCY markets.
i think we're going down huge.