10.6 EDSEL

[lonelytrader]

before I even start, huge thanks to Nanningbob, this system seems like a traders dream

I started reading 10.6 this week, and today decided to put some pending orders in.
so far I have the lot sizes figured out, using your cents per 1,000 theory. My big question is TP/SL
I cant say much as I basically ran into a wall with this one. I did read the pdf file where it says try to put the TP under the xxx.00 or xxx.50 and create a 3 to 1 R:R
but then I also read that you like to put your SL at the 240 line...
if anybody can help me clear this up, I would be greatly appreciative

[HannesJoubert]

So, fundamentally speaking, still looking for JPY weakness from 2nd week in Jan, coupled with GBP strength, AUD weakness, and possibly USD strength? (i.e. strongest of the weakest coming into play?)

BTW, have a good break everyone...

Cheers

H

NB, thanks Bob...

[alorente]

The Euro feeding frenzy this winter and maybe even into spring is beginning. Here is the first shot of what is to come:

http://www.forexfactory.com/news.php?do=news&id=463441

The European Union lost its top credit rating from Standard & Poor’s, which said the group’s cohesion has weakened and its financial profile has deteriorated. S&P cut its long-term rating on the EU to AA+ from AAA and maintained its short-term rating at A-1+. The outlook is stable, the company said in a statement today. “The downgrade reflects our view of the overall weaker creditworthiness of the EU’s 28 member states,” S&P said. The reduction follows ratings cuts in recent years on EU members including France, Italy and Spain, as a sovereign-debt crisis roiled the region.

All the euro pairs have dropped into the range area and eur/usd is knocking on the 240 MA door. If you have euro buys I wouldnt be hanging onto them. If you are in euro sells hang in there. EUR/JPY will be the most interesting to see which pair goes the weakest in early 2014. Good luck.

As for me. Christmas party tomorrow night, main speaker at a Sunday night meeting, Monday fly to Nanjing for a week of rest and to see my new grandson.

Hi Bob and thanks for this brilliant system. I have been evaluating it for the past two months and I´m going live in January. 10.6 works consistently, especially when trading pairs with solid macro tendencies like USDJPY, GBPJPY, etc. and staying clear of the more ambivalent ones.

I totally agree with you on the impending EURUSD potential collapse. I liken it to Wiley Coyote stepping out of the cliff and falling only when he looks down. I think the crowd will look down soon and realize there is no ground under its feet.

Happy Holidays and a profitable New Year for all !!

[alorente]

Here is the EURUSD weekly chart going back 7 years. As you can see, it has just completed a double top against the major down trendline that began in 2008. It looks very likely that the trendline will not be broken and EU could fall like a rock from here to test the bottom around 1.19 and possibly breaking that...

[art]

Hi guys just popping in to catch up with everything, no time for trading until new year, would like to wish everybody a happy Xmas, bob and Steve in particular, have a nice break bob,

[nanningbob]

Here is the EURUSD weekly chart going back 7 years. As you can see, it has just completed a double top against the major down trendline that began in 2008. It looks very likely that the trendline will not be broken and EU could fall like a rock from here to test the bottom around 1.19 and possibly breaking that...

WOW, good analysis and insight. It is when you see stuff like this that lets you know price was runup to a certain point so the big boys can feast on the bull mentality. (this will freak these guys out but I dont use SL on Euro sells, I know it will come back at some point because they never deal with the debt, they just patch it and kick the can further down the road. They have set the table. 1.19 that would be something. To me that depends on how France weathers the storm when it happens. There is one thing I have learned about Forex, bankers really know how to scramble when it is time. So we will see what happens next. To me there are only two solutions. Everyone goes back to their own currencies so they can adjust the value of their money to their debt, like Japan or they will force everyone into a true European central bank and be like the USA. So I dont know if 2014 will force the decision but the events are there for it to happen.

[nanningbob]

We all know the last couple of years the CHF (SNB) has been buying euros to keep the CHF from appreciating too much. Be interesting to see if they keep all those Euros this time or will they dump because they are sitting on one heck of a profit.

[matt_32]

Here is the EURUSD weekly chart going back 7 years. As you can see, it has just completed a double top against the major down trendline that began in 2008. It looks very likely that the trendline will not be broken and EU could fall like a rock from here to test the bottom around 1.19 and possibly breaking that...

You have a good point. Your analysis is similar to what some major banks are predicting.
EURO seems to be getting ready to take a dive to 1.30 (estimation for 6mo) or even 1.27 (estimation for 12months)

http://www.efxnews.com/story/22127/barc ... ort-eurusd

Matt

[zentauro67]

For those of you who miss old RSI2 style, take a look to Trix trend 2.

20/80 crosses happen almost at the same time of stoch 7,2,2 but it is less noisy and more relaxing if you are not there for the cross alarm and have to put pending orders. (You have to change the period from 4 to 2)

Imagen 001.jpg

MTF Trix Trend v2a.mq4

[rostaus]

Am i missing the point here or what ?

Looks to me like you are. Have you read Bob's analogy of CSS and the motor car? This makes it all clear.

Apologies if I have missed the point of your question which appears to be about the discrepancey betwen CSS and the chart read. If so, then do the usual shf thingy and ignore me.

Hi Steve, could you point me to Bob's analogy.

Merry Christmas