10.4 A Complete System

[tibochina]

Looking at GBP/USD on 5.0 H1 chart with fishnet Stoch, I'm seeing a sell at the DMR1. Anybody with me on this?

[kwanann]

Looking at GBP/USD on 5.0 H1 chart with fishnet Stoch, I'm seeing a sell at the DMR1. Anybody with me on this?

Looking at daily, seems to be ranging, h1 seems to show slow dt, but I won't put in a sell till its at the trend line of the peaks from the past few days

[Ingot54]

Ingot54
You are drawing your Fibs wrong. For the retracement you need to start at the top and draw to the bottom. The 61% level is around 1485. Vice Versa for shorts.

Thanks Grimweasel ... I have always had that problem with fibs. But I never let it bother me, because I draw it both ways to see what the other end (38.2%) is looking like too

It's usually identical ... the 61.8 = 38.2 inverted. It still nails the level for me

One day I'll get it right

[Staedtler]

Looking at GBP/USD on 5.0 H1 chart with fishnet Stoch, I'm seeing a sell at the DMR1. Anybody with me on this?

above MA buy..

[Ingot54]

Looking at GBP/USD on 5.0 H1 chart with fishnet Stoch, I'm seeing a sell at the DMR1. Anybody with me on this?

Price has busted up through the WP (which was within a few pips of yesterdays DP).

Remember we are in an uptrend, so only buys technically ... but on the 1H using 5.0 there is an opportunity for a CT trade (Counter Trend) by placing a pending sell at the next level.

For me, I see this as the 4h chart WMR1 @ 1.5305 ...or perhaps on the 1H chart DR1 @ 1.5320 (using round figures ... give or take a pip or two). As I write, price is hovering around DMR1, so it may or may not respect that.

Looking at the 3 recent higher peaks 12th - 16th - 19th April ... it is possible there is an overhead resistance in the zone 1.5320 to 1.5340 and that fits in with the higher DR1 - DMR2 zone.

CT trades have this problem - price may not retrace for a long time if the trend gets going, so the order of the day is to take quick bites. Price will push up faster and more suddenly than it will push down, when uptrending.

EDIT: Also remember ... we are in the Asian session, and price can move so slowly, you'll have time for a cut lunch! Before you know it, Europe and London are stretching and yawning ... ready for something a bit faster! I usually keep a weather eye on Asia, but for me the action begins just when Europe comes online.

[cmeade2]

Looks like a very good call

Looking at GBP/USD on 5.0 H1 chart with fishnet Stoch, I'm seeing a sell at the DMR1. Anybody with me on this?

[tibochina]

Ingot makes some good points here. Not much movement at the Tokyo open and CSS shows convergence of strength. Not much profit potential tonight selling the CT. Maybe best to wait this one out a bit more. Thanks for the input

[spillini]

LOL.... Yea, my forex trading turned around for the better....I mean 100% better, after I STOPPED TAKING COUNTER TRADES...!LOL.

Recipe for disaster I think.
Jim

Looking at GBP/USD on 5.0 H1 chart with fishnet Stoch, I'm seeing a sell at the DMR1. Anybody with me on this?

Price has busted up through the WP (which was within a few pips of yesterdays DP).

Remember we are in an uptrend, so only buys technically ... but on the 1H using 5.0 there is an opportunity for a CT trade (Counter Trend) by placing a pending sell at the next level.

For me, I see this as the 4h chart WMR1 @ 1.5305 ...or perhaps on the 1H chart DR1 @ 1.5320 (using round figures ... give or take a pip or two). As I write, price is hovering around DMR1, so it may or may not respect that.

Looking at the 3 recent higher peaks 12th - 16th - 19th April ... it is possible there is an overhead resistance in the zone 1.5320 to 1.5340 and that fits in with the higher DR1 - DMR2 zone.

CT trades have this problem - price may not retrace for a long time if the trend gets going, so the order of the day is to take quick bites. Price will push up faster and more suddenly than it will push down, when uptrending.

EDIT: Also remember ... we are in the Asian session, and price can move so slowly, you'll have time for a cut lunch! Before you know it, Europe and London are stretching and yawning ... ready for something a bit faster! I usually keep a weather eye on Asia, but for me the action begins just when Europe comes online.

[spillini]

It is natural for pairs to retrace. It has to happen.

er.. i know yen is going down.. anyone have any idea why?

[Chris]

Looks like the JPY's are pulling back., Could make some nice 10.4 trades.