10.6 EDSEL

[rebyte2]

Well Well Well ......

What do we have here then......

Arrows shows where CAD has been going to before changing direction.

Not saying it wont go lower but it sure gives a heads up.

Removing all other currencies will give a clearer picture.

Maybe can find a currency that is exhausting to the top and combine for a possible 'ride'.

Who knows.

[zimezoom]

USD got the hit on Friday. Do you think it is temporary, or a trend change?

[nanningbob]

OK 10.6 info reads for the week

GBP continues to be the strongest but is weakening. It is losing its momentum and unless something boosts it. it seems to be slowing down.

aud and nzd are strengthening strongly and may pass the gbp this week and take over the top spot. Buy all aud and nzd pairs if it does. They will be top dogs.

jpy has slowed its weakness and will be interesting to see if it breaks above the 0 line. Right now angling up is surprising but not unusual with the big collapse of the cad and chf.

gbp will range and weaken it seems. gbp/aud and gbp/nzd will be great sells if they cross. probably see some strong moves there.

Others to look for are aud/cad, aud/chf, nzd/chf, as buys I dont have cad/aud or cad/nzd but those would be good to if your broker carries them

eur/aud and eur/nzd are good but not as volatile the gbp will react if aud and nzd cross the gbp. eur and usd have leveled but the eur is on the negative side and usd has weak strength but bouncing up and down in that area. eur and usd could be weak in their moves and not create a lot of action. buy aud/usd and nzd/usd

[nanningbob]

usd and eur are flattening with the euro on the weak side and usd on the strong side but both are meek.

chf is showing much more weakness and could level off like the euro but be weaker.

aud/chf and nzd/chf buys look good.

aud/usd and eur/usd would be weak buys

nzd/usd and eur/nzd will be good if they continue to go in opposite directions.

eur/aud would be a sell.

time for bed, have a strong week.

[nanningbob]

here are the aud, nzd, and jpy. I put the 0 line in green. As you can see from month to month to month you almost never see all three above or all three below the 0 line at the same time. So keeping with tradition. I put my money that the jpy wont go above the 0 line. In the last 2 years you can see some very short periods 6 times these currencies were above/below the 0 line. Just isnt in their blood. When it happens the dont stay that way for very long. aud/jpy and nzd/jpy sells unless jpy goes above 0 then traveling at the same angle they will wallow flat.

[Pipstubborn]

The exception I made was the cad/jpy. I stay with those trades because as soon as this news passes the jpy fundamental will go back in place and I wont have to take any losses there. I also realize that the cad/jpy wont be making any new highs this month so stay with the high/low that has been set. (Quote)

Bob, if I understand correctly I have positions in almost all the CAD and are in Green so far. I also decided to keep the CAD/JPY with 5 buy trades in negative so far and my present floating DD is -0.22%.

I was thinking to close them tonight and take the loss, but based on your previous post I'm thinking to wait for another H4 STO buy signal or even a D1 STO signal to add some buy positions when the trend resumes to the upside. This way I could go for a BE faster or a small profit in this series of trades. Would it be wise to do this based on that I'm still in a healthy floating DD?

Thanks for your thoughts

[Tebis]

OK 10.6 info reads for the week
jpy has slowed its weakness and will be interesting to see if it breaks above the 0 line. Right now angling up is surprising but not unusual with the big collapse of the cad and chf.

I found some very valuable Informations about JPY from scooby-doo, a well known and experienced JPY trader on: http://www.forexfactory.com/showthread. ... 417&page=3 Post 41 till 48

[nanningbob]

OK 10.6 info reads for the week
jpy has slowed its weakness and will be interesting to see if it breaks above the 0 line. Right now angling up is surprising but not unusual with the big collapse of the cad and chf.

I found some very valuable Informations about JPY from scooby-doo, a well known and experienced JPY trader on: http://www.forexfactory.com/showthread. ... 417&page=3 Post 41 till 48

Scoobs is one of the great experienced traders who visits forums now and then. I would listen to everything he has to say and get knowledge of trading from him. I signed up for that thread and will be following it.

[nanningbob]

The exception I made was the cad/jpy. I stay with those trades because as soon as this news passes the jpy fundamental will go back in place and I wont have to take any losses there. I also realize that the cad/jpy wont be making any new highs this month so stay with the high/low that has been set. (Quote)

Bob, if I understand correctly I have positions in almost all the CAD and are in Green so far. I also decided to keep the CAD/JPY with 5 buy trades in negative so far and my present floating DD is -0.22%.

I was thinking to close them tonight and take the loss, but based on your previous post I'm thinking to wait for another H4 STO buy signal or even a D1 STO signal to add some buy positions when the trend resumes to the upside. This way I could go for a BE faster or a small profit in this series of trades. Would it be wise to do this based on that I'm still in a healthy floating DD?

Thanks for your thoughts

I am not sure what you mean by a healthy floating DD but Cad/jpy accounts for 1.25% of my account as DD so if I have to close its not damaging to me but also the DD is easily manageable. It takes time to get this MM thing down but when you do you trade without fear.

[Pipstubborn]

Bob, what I meant is that at that point in time my DD was 0.22 % and at the time of writting is 0.96%.
The reason is that I'm planning to keep my CAD/JPY buys instead of closing them and have a realized loss.
Thanks