10.4 A Complete System

[nanningbob]

Here is a comment I picked up.

After all of this, we could expect Japanese to react to this tonight, otherwise all of their weakening Yen effort go up in smoke. They will do something, just don’t know how big it will be.

[cmeade2]

One thing for sure is that there is going to be a big range between WR1 and WS1 for many pairs next week.

[zentauro67]

Now you know why I advocate small lots and low leverage. Never saw this one coming, have no clue and sitting on my hands. Everything is outside my comfort zone so not in that many trades. Dont know what to tell you guys, this isnt being driven by any Fundamental I know. Indicators, I dont trade much outside the S1/R1 unless I know what is driving price. I dont know. So I have sat on my hands.

G8 meetings next week, Japan scared of critics telling them they can't do so much QE?

It seems all this mess comes from rumors of Fed increasing QE. Everybody is printing money!

[TraderDesk]

Here is a comment I picked up.

After all of this, we could expect Japanese to react to this tonight, otherwise all of their weakening Yen effort go up in smoke. They will do something, just don’t know how big it will be.

Hmmm... should be interesting to see but I am looking for that to happen next Wednesday or Thursday. I am looking now for price action to give me the next trade as my bias is now null

[peranders]

A lot of xxx.jpy pairs around MS1 after this rally.

[sponn]

All jpy trades will be winners today if we stick to the rules. We were buying jpy crosses below 240 line. So it is our fault right. 10.4 system was working as it should and 240 line too

Hard lesson but learned.

[aworex]

Hard fact, we should focus on making pips and not being right, the 240 MA has always been our guide

[SteveHopwood]

For many of us this is borne out of frustration of having no pure 10.4/10.5 trades available. So many tradeable pairs are outside SR1 and SR2 and SR3 in some cases.

This was several pages back, so sorry if I am so late to the table that my post appears ridiculous. Moving on......

I didn't see any trades today either, so I sat out. This week has still been a good one for me because:

• Bob finally helped me work out what CSS is all about - I read his pdf a few days ago.
• I have started to make sense out of what CSS is telling me.
• Amongst all this, managed to make about 100 pips.
• Added CSS functionality to my Shell

So, if nothing happens tomorrow either, I am still one happy bunny. It has been yet another good week in the 10.x stable.

[SWG123]

Heh the strange thing is that we have got a great system - 10.4. The main rule is to buy above 240 and sell below 240... why anybody was selling yen (opening buys on yen pairs) when all yen pairs were below 240 line ??? Feeling, fundamentals, etc ?

Just want to say this: If we only stick to THE RULES we will have got a great day today.

So stick to the rules ALWAYS !

Exactly - it's been a great week for anyone who followed the system basics. As for trying to follow fundamentals, unless it's your day job, I would say don't bother, you're just guessing - there's someone at least as well-informed as you but with much more equity to play with.

[peranders]

As far as I can tell from price action USD, GBP and EUR.JPY broke out from the wedge that had formed.
AUD and NZD are yet to, as expected since they are also weak. I have a few NZD and AUD also but will close them if they go the wrong way outside the wedge. So all in all since it is a 10.4 thread maybe the anglo western pairs will find their home above 240 MA vs. JPY.