10.4 A Complete System

[zentauro67]

These days it worked geographical. NZD, AUD y JPY have copied his movements perfectly. ASIA and GOLD holding hands. It would have served as inspiration for a poem by Coleridge.

Good way home when you get back, Bob. I've spent seven years away from home, in Brazil, as a spanish teacher and I think I understand how you feel. Great moments, friends and experiences, but a part of you always want to return.

Great to see Slipshod here. Your support/resistance indi is simply gorgeous!

[nanningbob]

OK with this mornings move I cleaned out chf/jpy and eur/jpy trades. I am back to one level and 10.4 reads with them. 4 pairs left to go. My DD is now back down under 8% and looking good. JPY could range between the high and low or break up some more. Either way I am ready.

[spillini]

Look at freeking E/J trying to blow thru the weekly pivot. Turning a would be disaster into a winning week.

[nanningbob]

Finally just caught up on this forum (phew what a read!). Just wanted to say thankyou to Bob & everyone else who posts here, so much wisdom shared freely on a daily basis. Long may it continue

Welcome, it has been a wild ride so far.

[nanningbob]

Look at freeking E/J trying to blow thru the weekly pivot. Turning a would be disaster into a winning week.

Knowing the fundamental trend will help you out in your trading decisions. Monday's normally would have damaged my account but knowing it was are re-trace in a fundamental trend helped me in my decisions to hang in there. Closed some trades to keep the account from getting over extended and recovered all the rest. My line in the sand is 20% DD and then I take clear cut action. I will knock 3-7% off the top and kept it under that mark. I also go to smaller lots when markets are volatile instead of increasing them. This helps in surviving bad runs and sudden changes in direction. Once again those rules worked. With 10.4 that was the first time I went 20% DD, most of the time I am less then 10 almost always less than 5% on my DD. So I am back in my comfort range again. I think jpy will range now but I have been wrong in the past.

[nicoacademia]

its was a firesale. just following 10.4 would've told anyone that.
mega profits now. just enjoying.
thanks Bob. 10.4 is awesome.

edit: just watching for 130.xx area to get fuzzy.

edit2: just to add. EURJPY its the first time we're back to price levels we left on a rocket.
its not gold where its been down there 3 times then cracked.

the first time down...is alot safer...after this...if it does come down yes it will bounce...but the situation terrain then will be a different ball game.

the.first.time.

[kwanann]

Pheww, got myself out of a stupid trade done this morning, not sure what got into me, i decided to hedge myself against yen dropping RIGHT where it was the lowest. ended up with unneccessary losses.

Managed to cover back those losses and now letting the remaining lots run, lets see how many more legs JPY has

[spillini]

Appreciate the advice, it will help down the road. And if your right about the range, we will have many pips a comin...


Jim

Look at freeking E/J trying to blow thru the weekly pivot.

Turning a would be disaster into a winning week.

Knowing the fundamental trend will help you out in your trading decisions. Monday's normally would have damaged my account but knowing it was are trace in a fundamental trend helped me in my decisions to hang in there. Closed some trades to keep the account from getting over extended and recovered all the rest. My line in the sand is 20% DD and then I take clear cut action. I will knock 3-7% off the top and kept it under that mark. I also go to smaller lots when markets are volatile instead of increasing them. This helps in surviving bad runs and sudden changes in direction. Once again those rules worked. With 10.4 that was the first time I went 20% DD, most of the time I am less then 10 almost always less than 5% on my DD. So I am back in my comfort range again. I think jpy will range now but I have been wrong in the past.

[bluedog23]

aud nzd h4.png

Looks like this one may have bottomed out; could be a good long trade here at the weekly pivot area if it can clear that. Just browsing the charts.

[Ingot54]

Looks like this one may have bottomed out; could be a good long trade here at the weekly pivot area if it can clear that. Just browsing the charts.

Agree that this could be bottoming nicely, Bluedog.

But technically the trend is down now. However, rather than counter-trend the 4H chart, you could switch to the 1H chart and see what could be made of it. On the 1H there is only about 7 pips to the DPP, but about 30 pips up to the WPP on the 4H.

Hope I read this right. I'm not sure there is a long trade there though. Maybe easier fruit elsewhere?