10.4 A Complete System

[alex84]

What To Make Of JPY Bounce? A Macro-Technical Perspective - Citi

http://www.efxnews.com/story/18945/what ... ctive-citi

I am seeing a pattern here. Sell the JPY the first 10 days of the month as bond buying happens and 1% more Yen is added to the economy every month. Then the last two weeks buy the JPY because people take profits and businesses are still doing business in Japan. Could be the easiest trade to do or the next 18 months. I like predictability and as it becomes more predictable the swings will be wilder.

interesting Bob...
Would you mean that we shouldn't take any long signal on XXX-JPY pairs next week as it's the end of month ? Better to take short signals even if price is above MA240 ?

Go back to my PDF on page 1 post 1 and take trades when the proper signals are given. It will tell you whether to buy or sell. When we get into the first week of June then we will look at Macro Fundamentals of the JPY and look to get back into buying xxx.jpy trades.

Thank you Bob, I understood that already, but with my question i meant :
if for example the first week of june Aud JPY is still below ma240 would you advice we do not take short signals (RSI and CSS confirmed), but we take long signals even if below ma ? Or better to wait the price went back above ma ?
thanks

[zentauro67]

EURUSD Daily chart.

Bottom trendline seems working, CSS turned from red to goldenrod... USD index overbought... We could see a last bounce down on 240 (4H) before EUR resumes the way north, but I´ll try to stay out this week.

eur.jpg

[alex84]

EURUSD Daily chart.

Bottom trendline seems working, CSS turned from red to goldenrod... USD index overbought... We could see a last bounce down on 240 (4H) before EUR resumes the way north, but I´ll try to stay out this week.

eur.jpg

Thanks for this analyze
Why would you stay out this week ? any particular reason ?

[pips400]

I'm sticking to the basics this week, looking for setups from a combination of CSS Daily, trendlines, 4H Goldenrod and RSI. Once the setup is there I'm dropping down to 1 Hour, take the CSS cross as entry and using DP, DR1, DS1 for entries also and exits. DD I'm allowing 5%, but will close any trade where the CSS on 1 Hour crosses back the other way, or price is stalling/lost momentum. No scaling this week just taking singles from line to line.

Not trading Monday because its UK Bank Holiday and US Memorial Day, so will stay out and trade the rest of the week.

Wishing everyone a great week ahead.

Pips400

[zentauro67]

@alex84

In this kind of bottom action, last retrace in the downtrend could be the first impulse of the reversal (fake retrace), but, of course, is still a valid setup for shorts. Is goldenrod in daily which makes me cautious, maybe too much cautious.

[nanningbob]

10.4 DP simplified I trade like this. 4H chart gives me signal.
1. price is above 240 line
2. rsi 2 pinned to bottom
3. CSS is gold
4. WP is nearby.

question is it going up or down?

[nanningbob]

Go to 1H chart

1. CSS is red so not a good time to enter, However if it was
2. buy pending at DP, DR1 and TP at WS1 would be the setup.
3. BUY LIMIT at WP
4. RED bar CSS is telling us to wait

[nanningbob]

10.4 Info page tells us.

euro going down,
cad flat

probably flat or retracement happening, chances of successful trade at this time not good.

[nicoacademia]

thanks Bob. very clear n detailed explanation for scanning for trades

[CCCGAMING]

Go to 1H chart

1. CSS is red so not a good time to enter, However if it was
2. buy pending at DP, DR1 and TP at WS1 would be the setup.
3. BUY LIMIT at WP
4. RED bar CSS is telling us to wait

where is the stoploss BOB? h1's MA or h4's MA?