10.4 A Complete System

[Staedtler]

i took a break of the high on the gbpjpy with the filter glowing green.. wasn't a 10.5 black trade, and got nailed.. well that's what i get for trading outside of the rules

[Foreverforex]

Question on these new indicators/bars:

So pair is in uptrend and RSI if pinned at bottom, prior to the RED arrow. At the RED arrow, we get a gold bar and enter long. Is that a valid entry signal? Do the bars prior to the first gold bar being red mean that you should not go long?

If you do go long, the subsequent red bars would indicate trade is not going to go your way, so you should cut your losses and exit (AQUA arrow)? And then the following gold bars would not trigger an entry because RSI i pinned to the top, right?

Thanks,

FF

[Staedtler]

Question on these new indicators/bars:

FF

here ya go..


price is above the 240.. rsi2 flat and within oversold area.. filter is gold, however candle hasn't closed yet wich means we could still change to red. so wait for the candle to close.. if it's still gold, set a pending.. if the filter changes to red, close pending order until it's gold again.

[TraderDesk]

i took a break of the high on the gbpjpy with the filter glowing green.. wasn't a 10.5 black trade, and got nailed.. well that's what i get for trading outside of the rules

I had looked at the 1 hour chart for GBP/JPY and put pendings "buystops above DMS1, DP, DMR with TP at the DR1 level... I love to use channel lines so I made sure to pendings above the upper line as the probability of a move higher if price broke it increases dramatically.

Also on my 4 hour chart I see PA trying to go down to 152.50-70 level so I did not open any 1 hour pending buy limits and if I would of I would have close them when CSS went red...

5-7-2013 10-40-22 PM.jpg

[Foreverforex]

Question on these new indicators/bars:

FF

here ya go..

Thanks, Staedtler. My attachment wasn't in my original post. I went back and added it. If you check it out you'll see that my bars are quite different. Any idea why (edit - oh, because it's a different pair!!)?

Also, how do you guys add your attachment so the it can be seen in the posting?

Thanks!

[Staedtler]

TraderDesk, i never trade the 1h. I took a breakout trade of the previous high wich was a bit premature, i should have waited for the filter to turn gold and RSI2 to flat. was my bad

[Staedtler]

Thanks, Staedtler. My attachment wasn't in my original post. I went back and added it. If you check it out you'll see that my bars are quite different. Any idea why (edit - oh, because it's a different pair!!)?

Also, how do you guys add your attachment so the it can be seen in the posting?

Thanks!

most people say it's the criminal you are using.

if you want to add an attachment, click on " full editor " at the bottom when you hit quick reply

[Foreverforex]

I did add the attachment, the problem I have is that the attachment doesn't show up as a picture in the body of the email, it has to be downloaded. probably has to do with file type.

If you or someone could look at it and suggest how to handle that kind of series of bars - you posted a differnt pair than I was referring to.

reposing question here with diff formatted attachment (ah, and got it now - have to hit the "place inline" button to put into body of posting!).

So pair is in uptrend and RSI if pinned at bottom, prior to the RED arrow. At the RED arrow, we get a gold bar and enter long. Is that a valid entry signal? Do the bars prior to the first gold bar being red mean that you should not go long?

If you do go long, the subsequent red bars would indicate trade is not going to go your way, so you should cut your losses and exit (AQUA arrow)? And then the following gold bars would not trigger an entry because RSI i pinned to the top, right?

nb0507.png

[zentauro67]

AUD seems weak, and as Ingot54 pointed, this weakness can be a long term factor.

However, be careful, AUDUSD (Daily) is reaching a very strong support area. 10 months (!) ranging, and it should go north... Shorts here only for the most brave (you can always think this is a triple top) . I´ll remove this pair as a 10.4 pick for some days and wait for a clear signal.

audusd daily.jpg

[Foreverforex]

on chart below of EG, if slopes converge and we get gold bar in next few bars, that's a proper sell trigger to set pendings, right?

nb05072.png