10.6 EDSEL

Post by **nanningbob** » Tue Feb 25, 2014 2:38 am

1H chart is not giving us a good signal yet either but if I see a 10.6 trade -------- thats the one I am looking for. Price retrace back to DP or 60 MA line. Then I have a good spot to enter from. I then can maximize a short profit trade back up to R and then see if it breaks above the R line as NZD strengthens and JPY weakens.

Post by **nanningbob** » Tue Feb 25, 2014 2:49 am

Geges » Tue Feb 25, 2014 10:24 am wrote:
Staedtler » Mon Feb 24, 2014 7:54 pm wrote:right now, only looking for baskets of JPY. is it just me or do we only seem to have a massive yen sell off right now ?
I have some positions north but it seems like a battle of "Who wants to be the weakest"...

Well the JPY has the largest program to weaken in history. 2 year plan and it has hit a snag. The good news is bank officials have promised more if the JPY doesnt keep weakening so they can attain their goals. The second point is the JPY does not seem to be doing its usual strengthening at the end of the month so if it weakens or holds this last week then March ought to really push it up into new lows. That appears to be what is happening. You can enter now, I am looking for good spots, but I think the real fireworks will happen in March when they will once again get this baby rolling because they have that big tax increase going into affect in April and they need a weaker YEN to help take the sting out of that tax increase.

Japan borrows almost half of its budget, (people think the USA and Europe is bad they are nothing compared to Japan) also for conspiracy dooms day people USA and Europe wont blow up when Japan has over 2-3 times the debt load without blowing up. So they have to depreciate the YEN and then increase taxes to somehow get themselves out of this mess. USA politicians please notice we dont want to go down the same road. (Sorry Steve about the political comments but I cant resist)

Staedtler · Post by **Staedtler** » Tue Feb 25, 2014 4:39 am

thanks for that bob, i really don't have any rebuttal, because i'm listening to every word very intently. the info you bring to the table is so terribly helpful, i really enjoy it. thanks again :hi:

Well the JPY has the largest program to weaken in history. 2 year plan and it has hit a snag. The good news is bank officials have promised more if the JPY doesnt keep weakening so they can attain their goals. The second point is the JPY does not seem to be doing its usual strengthening at the end of the month so if it weakens or holds this last week then March ought to really push it up into new lows. That appears to be what is happening. You can enter now, I am looking for good spots, but I think the real fireworks will happen in March when they will once again get this baby rolling because they have that big tax increase going into affect in April and they need a weaker YEN to help take the sting out of that tax increase.

Japan borrows almost half of its budget, (people think the USA and Europe is bad they are nothing compared to Japan) also for conspiracy dooms day people USA and Europe wont blow up when Japan has over 2-3 times the debt load without blowing up. So they have to depreciate the YEN and then increase taxes to somehow get themselves out of this mess. USA politicians please notice we dont want to go down the same road. (Sorry Steve about the political comments but I cant resist

pino · Post by **pino** » Tue Feb 25, 2014 8:07 am

Hi guys!

First of all, thank you Bob for all your hard work and willingness to share it and for helping newbie traders like myself!

I am new with 10.6 EDSEL and i wanted to share with you my trades, if that's ok.

So here it goes.
Today's CSS bias is the following: NZD, AUD, CAD are above 0 (with NZD over 20 and AUD at 18) and JPY at -0.25

CSS 25.02.JPG

I noticed CADJPY has hit the 60MA, which now acts like a resistance point.
I've placed a pending order as follows:

CADJPY 25.02.JPG

Also, EURCAD and USDCAD look good for a possible buy, but taking the CSS into account (both EUR and USD are angling down and CAD is angling up) i will not trade these.

EURCAD 25.02.JPG

USDCAD 25.02.JPG

What do you guys think?
Any feedback is greatly appreciated!

[EDIT] CADJPY trade is open now. I just noticed that CSS bias is the exact opposite of the placed trade for CADJPY (CAD was strengthening and JPY was weakening).

Post by **art** » Tue Feb 25, 2014 8:52 am

the trouble is looking at the 4 hour css, it changes so quickly, chf and euro now angling up usd angling down,and as bob has said they are all bunched in together no real direction, nzd has flattened out, so anyones guess, i'm looking at eur,chf buys to grab a few pips maybe

Post by **art** » Tue Feb 25, 2014 8:54 am

i have just taken a long nzdjpy tradee of the 1 hour, a bit risky as the stoch hasnt given me a signal

genaja · Post by **genaja** » Tue Feb 25, 2014 9:06 am

pino » 25 Feb 2014, 09:07 wrote:
I noticed CADJPY has hit the 60MA, which now acts like a resistance point.
I've placed a pending order as follows:...

[EDIT] CADJPY trade is open now. I just noticed that CSS bias is the exact opposite of the placed trade for CADJPY (CAD was strengthening and JPY was weakening).

You are long with CADJPY?

pino · Post by **pino** » Tue Feb 25, 2014 9:33 am

genaja » Tue Feb 25, 2014 11:06 am wrote:
pino » 25 Feb 2014, 09:07 wrote:
I noticed CADJPY has hit the 60MA, which now acts like a resistance point.
I've placed a pending order as follows:...

[EDIT] CADJPY trade is open now. I just noticed that CSS bias is the exact opposite of the placed trade for CADJPY (CAD was strengthening and JPY was weakening).

You are long with CADJPY?

No, it's a sell as per 10.6 EDSEL rules, but the CSS reading was the exact opposite (and didn't notice it until after the trade opened).

genaja · Post by **genaja** » Tue Feb 25, 2014 9:46 am

pino » 25 Feb 2014, 10:33 wrote:
You are long with CADJPY?

No, it's a sell as per 10.6 EDSEL rules, but the CSS reading was the exact opposite (and didn't notice it until after the trade opened).

CSS D1 CAD goes down, JPY goes down, H4 Stoch7 sell signal. What goes wrong?

pino · Post by **pino** » Tue Feb 25, 2014 9:58 am

genaja » Tue Feb 25, 2014 11:46 am wrote:
pino » 25 Feb 2014, 10:33 wrote:
You are long with CADJPY?

No, it's a sell as per 10.6 EDSEL rules, but the CSS reading was the exact opposite (and didn't notice it until after the trade opened).
CSS D1 CAD goes down, JPY goes down, H4 Stoch7 sell signal. What goes wrong?

I was looking at the H4 CSS, and CAD was pointing up, so i thought it was strengthening. I will take into account the higher timeframe also.

Like art said:

art » Tue Feb 25, 2014 10:52 am wrote:the trouble is looking at the 4 hour css, it changes so quickly...

Do you guys validate the entries with CSS?
Like in my case - if there is a 10.6 EDSEL setup but the CSS contradicts it, do you still take the trade?