10.4 A Complete System

[cmeade2]

Hey Zen

On the one hand I am big fan of these types of setups on the CSS. The problem though is that it is also setting up as a great 10.4 short and it is hugging the WMS1 which it can't break (i.e. it might go down).

We'll see

cmeade2

CSS 4 ---- Great sloping JPY and AUD, top and bottom, looks as an inverse mirror... AUDJPY should be a terrific buy! I´m in. SL at last swing low, TP at WR1 This kind of CT is very dangerous but the risk/reward worths it. I have 37 winning trades in a row, 0 losses last week. So, for me it´s time to risk.
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[zentauro67]

Nice run, zentauro! What's your mix of trades? Trending and CT? How do you treat each? E.g. small TPs for CT entries like AUDJPY, big TPs for strong trenders? Do you trade mid-CSS currencies or stick with the ones that are moving stronger?

Well, not so great. Most are scalping style, with 10 pips target, with microlots (0.01). I use 4H and CSS info page to see direction, and then go to 1h chart. 80% times I follow the trend. I CT only if I can afford a tight SL. If i´m following the trend I don´t use SL. So a killing trade could take all my profits at any moment.

In 1h, i use daily pivot cross and a ADR (15 days) as limit for operations. I never buy or sell beyond the daily range. I don´t use SR levels from pivots, but SR levels of PA that I spot at the moment.

What has helped very much to improve results is Slipshod´s SR indi that is becoming my lighthouse for scalping. Never buy the resistence, never sell the support. As simple as that. Also, a bit of PA and candlstick reading. I look for pins and dojis confirming S/R levels. Also, I use mouteki trendline indi to see when the retrace is broken. Nothing too much original.

USDJPY and EURUSD mostly, because of the spread of my mini account.

[zentauro67]

Hey Zen

On the one hand I am big fan of these types of setups on the CSS. The problem though is that it is also setting up as a great 10.4 short and it is hugging the WMS1 which it can't break (i.e. it might go down).

We'll see

cmeade2

CSS 4 ---- Great sloping JPY and AUD, top and bottom, looks as an inverse mirror... AUDJPY should be a terrific buy! I´m in. SL at last swing low, TP at WR1 This kind of CT is very dangerous but the risk/reward worths it. I have 37 winning trades in a row, 0 losses last week. So, for me it´s time to risk.

[/quote]

You are right! It ´s good for longs and for shorts. Not an easy choice. It seems a valid 10.4

I m long just because of that nice crab looking slope in CSS. Could be a suicide trade, anyway.

[nanningbob]

Well that was an exciting day. 2 wins, 2 losers and my DD went down 10 whole dollars. LOL. Ok bankers back to work. Lets see euro banks off last week. American and British off this week. Almost all off 1st week of May, dang where can I get a job like that?

[Kruspe]

Hey guys,

I´m trying to catch Bob´s train, so I´d like to ask what do you think about EURAUD long. H4 looks good, but RSI on H1 is to high.. does it matter, or do you see long bias too ? Buy stops maybe at WMR1, or DR1 ? Thx

[cmeade2]

A buy at WMR1 would be good.

Hey guys,

I´m trying to catch Bob´s train, so I´d like to ask what do you think about EURAUD long. H4 looks good, but RSI on H1 is to high.. does it matter, or do you see long bias too ? Buy stops maybe at WMR1, or DR1 ? Thx

[zentauro67]

Hey guys,

I´m trying to catch Bob´s train, so I´d like to ask what do you think about EURAUD long. H4 looks good, but RSI on H1 is to high.. does it matter, or do you see long bias too ? Buy stops maybe at WMR1, or DR1 ? Thx

450 pips away from 240. I´d NEVER go long here.

[cmeade2]

It's funny because it wasn't that long ago that someone put up a similar post (about a short) when EurAud was on other side of 240 in the same amount.

Hey guys,

I´m trying to catch Bob´s train, so I´d like to ask what do you think about EURAUD long. H4 looks good, but RSI on H1 is to high.. does it matter, or do you see long bias too ? Buy stops maybe at WMR1, or DR1 ? Thx

450 pips away from 240. I´d NEVER go long here.

[Kruspe]

450 pips away from 240. I´d NEVER go long here.

Thanks.. what would be the best range based on your observation and experience? not too close, not too far from 240 ?

[kwanann]

Well that was interesting, usd and yen rallied. Closed off my audusd, losses covered by audjpy. Left usdjpy at 101.5be, TP at 102