10.4 A Complete System

[pacinvest]

Hi Bob and the crew here
I am a quiet one in this forum, but actively learning from you and the others. Been a great journey through the NB 10.XX's. I have been working on my trading right through the 10.xx development. I am really comfortable with the evolution to 10.6 and now the focus is trade the bugger..................so I will post a few charts.

I am sitting here towards end of Asian Wednesday NZ time and about to set up a trade on the USDJPY. This is the h4 chart below. Would you all agree to get into this set-up short. OK when or should I say where? We are some 45 pips from the daily pivot that's a lot of profit going back to forgo with a pending placed there. There is a XXOO line 33 pips down could be a pending there? On the HI a good clear topping candle is forming encouraging me to get in there and the stochastic on H4 is close to topping and H1 stoch has topped. On the H1 there is a XXOO line 8.5 pips down that could be a possible spot for the pending. I'd be interested in comment on this.

If this PA pauses and then races off towards the H4 240 line across the H4 60 line, I am going to look pretty stupid. What's new...............we are very close to the H4 60 line here I, so I am considering putting my stop just above the next XXOO line above the 60 line some 65 pips. Pretty tight for an H4 trade.

I almost forgot......................A big thanks Bob for your efforts here, awesome system.

[pgd]

hi bob,

I was studying CSS on EDSEL.

Re. the marked eurjpy h1 short entry below 132.00 :

would it have been a legit entry looking to the fact that:

[1] CSS was in the green.
[2] price had started making higher highs and higher lows.

pl comment also on the validity of using CSS on EDSEL.

thanks.

[nanningbob]

hi bob,

I was studying CSS on EDSEL.

Re. the marked eurjpy h1 short entry below 132.00 :

would it have been a legit entry looking to the fact that:

[1] CSS was in the green.
[2] price had started making higher highs and higher lows.

pl comment also on the validity of using CSS on EDSEL.

thanks.

The CSS went yellow confirming entry point but I dont use CSS on individual charts I use STO 7. Much easier to read and faster on the draw.

[pgd]

hi bob,

I was studying CSS on EDSEL.

Re. the marked eurjpy h1 short entry below 132.00 :

would it have been a legit entry looking to the fact that:

[1] CSS was in the green.
[2] price had started making higher highs and higher lows.

pl comment also on the validity of using CSS on EDSEL.

thanks.

The CSS went yellow confirming entry point but I dont use CSS on individual charts I use STO 7. Much easier to read and faster on the draw.

bob,

[1]
my chart posted above shows green css at the point of entry.
it turned yellow only at the close of the next hourly candle.

[2]
please also comment on price making higher high and higher low.
would that not be dissuasive to taking short trades?

thanks.

[nanningbob]

hi bob,

I was studying CSS on EDSEL.

Re. the marked eurjpy h1 short entry below 132.00 :

would it have been a legit entry looking to the fact that:

[1] CSS was in the green.
[2] price had started making higher highs and higher lows.

pl comment also on the validity of using CSS on EDSEL.

thanks.

The CSS went yellow confirming entry point but I dont use CSS on individual charts I use STO 7. Much easier to read and faster on the draw.

bob,

[1]
my chart posted above shows green css at the point of entry.
it turned yellow only at the close of the next hourly candle.

[2]
please also comment on price making higher high and higher low.
would that not be dissuasive to taking short trades?

thanks.

Price also broke through the 60 and 240 and came back to retest those lines. It bounced and became a good trade. you are looking at the wrong higher highs and lower lows here is a better pic of the channel it is in the highs are getting lower and lowers are getting lower.

[nanningbob]

The CSS info page is also telling us the same story. Euro is angling down although it is strong at this time but weakening and the JPY is strengthening. JPY crossed up Euro crossed down. All the signs are there for a sell.

[peranders]

Something we all knew happens, just couldn't prove.
At least now the genie is out of the bottle.

http://www.forexlive.com/blog/2013/10/0 ... committed/

[Anthar]

Hi guys, my first post and I want to address a short trade on USDJPY. I just placed a sell order below Daily Pivot, and as I understand all the requirements meet. This is as simple of a system is it can get, but there are some details to be watched and maybe fundamentals play a role once in a while too. Anyway, sell order below Daily Pivot and SL on touch of 60 MA. I will appreciate any comment regarding the trade. Thanks in advance to all and Bob in particular

Yes that is a 10.6 trade and it should work under normal circumstances. The problem is there is a big elephant out there called a budget fight in Washington and what ever direction that goes will determine price direction. I dont know how it will end but I do know what ever direction it goes prices can jump in any direction at any time. If people around the world get nervous money can start moving very quickly in either direction and no set of indicators or price action will predict that. Just go ahead and trade and keep a tight lid on things. But yes that is a good trade scenario.

Strong Fundamentals top any indicators and we have one out there.

Thanks Bob and all the guys that commented on my post. I agree, under "normal" circumstances this entry would've played well from start maybe and still it is not dead yet, but close to SL. Anyway, every system has winners and losers, the idea is to make it to the winner side on average, so even if this trade fails there should be a couple more that would hit target. I will try and post more trades as I take them so we can all comment on them if that's ok with you Bob.

[Anthar]

Ok guys, so two more trades to comment on. The first EURCAD as price action crosses above Daily Pivot, what I see as a "con" on this trade is that STO7 is already above 80, it was a pending order and got in at the last push, let's see how it goes.

The second trade goes for a different kind of movement, playing in the range zone, looking to get a bounce off 240 and go south to the downside of the range zone.

I hope this discussion gets to be useful for the thread, any comments would be appreciated.

[Oswald]

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