10.4 A Complete System

[nanningbob]

Bob

I think GbpAud as a short is a good trade right now.

audchf and nzdchf look like this

Even though STO is at the bottom it could continue. If you look at the daily charts the AUD and NZD are all at S/R points. If they dont continue I think they have found their new high/low. With the slow down of the Chinese economy, what I mean by that is its rate of increase slowed down from 8-10% to a 6-8%, these two commodity currencies would need to find a new high and low at a lower range. If these are its tops and bottoms then they may not continue. Time will tell but this is what I am expecting to happen.

[cmeade2]

The STO is not at the bottom. It is coming down through 40.

Bob

I think GbpAud as a short is a good trade right now.

audchf and nzdchf look like this

Even though STO is at the bottom it could continue. If you look at the daily charts the AUD and NZD are all at S/R points. If they dont continue I think they have found their new high/low. With the slow down of the Chinese economy, what I mean by that is its rate of increase slowed down from 8-10% to a 6-8%, these two commodity currencies would need to find a new high and low at a lower range. If these are its tops and bottoms then they may not continue. Time will tell but this is what I am expecting to happen.

[pg2205]

audchf and nzdchf look like this

Hi Bob, so you don't necessarily wait for STO7 to be completely pinned down? It can be "around" the 0-20 zone and that is "one" of the signals to setup my pending orders?

[pg2205]

Hi Bob, EUR/AUD looking like a great setup. CSS showing AUD angling up, EUR angling down, STO7 heading down from 80, Price below 240MA, Price now at a daily pivot with a nice pin bar. TP could be the next round number at 1.4300

[cmeade2]

Although it is a great set up for a 10.4/5 short, I think it is a bad idea right now.

Hi Bob, EUR/AUD looking like a great setup. CSS showing AUD angling up, EUR angling down, STO7 heading down from 80, Price below 240MA, Price now at a daily pivot with a nice pin bar. TP could be the next round number at 1.4300

[cmeade2]

OK as I look at it further, it's a mixed bag. Reasons to go short. Reasons to stay out.

I'm not in.

Although it is a great set up for a 10.4/5 short, I think it is a bad idea right now.

Hi Bob, EUR/AUD looking like a great setup. CSS showing AUD angling up, EUR angling down, STO7 heading down from 80, Price below 240MA, Price now at a daily pivot with a nice pin bar. TP could be the next round number at 1.4300

[nanningbob]

audchf and nzdchf look like this

Hi Bob, so you don't necessarily wait for STO7 to be completely pinned down? It can be "around" the 0-20 zone and that is "one" of the signals to setup my pending orders?

You can see the set up coming, the sto gives a signal if price moves back into the trend. It could keep running for days and you dont get a signal for 48 hours or it could move today and give a signal. The signal helps you from getting in too early. However, if you want to play it early you can but that is where DD happens. I get DD too often, kind of an undisciplined trader.

[nanningbob]

audchf and nzdchf look like this

Hi Bob, so you don't necessarily wait for STO7 to be completely pinned down? It can be "around" the 0-20 zone and that is "one" of the signals to setup my pending orders?

That is how we traded the RSI2. When it pinned we would start setting pendings. It worked but we fought with DD sometimes. If you wait for the signal you will get a lot less DD. That is what I have liked about the STO 7 so far my DD is lower. My win to loss ratio is staying about the same but the DD is less. That seems to be the difference in the short time I have traded it.

[nanningbob]

How and why I sometimes take profit. The eur/jpy did a nice 45 pip run. Now what. It is hitting the top of its previous moves. Will break through or not?? I dont know but I am not losing my 45 pips so in the bank they go and I will set a new pending above these highs. If it runs I am in if it doesnt I got the maximum of the run. Either way I am happy. If it goes on I dont beat myself up it if it retraces i am glad I did. This is a daily chart.

[tibochina]

OK as I look at it further, it's a mixed bag. Reasons to go short. Reasons to stay out.

I'm not in.

Although it is a great set up for a 10.4/5 short, I think it is a bad idea right now.

Hi Bob, EUR/AUD looking like a great setup. CSS showing AUD angling up, EUR angling down, STO7 heading down from 80, Price below 240MA, Price now at a daily pivot with a nice pin bar. TP could be the next round number at 1.4300

This WAS a great setup. GBP/AUD, EUR/AUD, EUR,NZD, AUD/CHF and NZD/CHF were all winners last night for me netting over 120 pips. Classic 10.6 setups taking 24 pip average profit in an uncertain market.