10.9 DAILY/WEEKLY TRADES ONLY

Post by **spotdespot** » Sun May 18, 2014 1:23 pm

kundanketki » Sun May 18, 2014 2:06 pm wrote:Looking to place sell limit order on USD CAD at 1.08934, Stop loss @ 1.09410, Target @ 1.07500.

Please notice where price is relative to the TMA bands. If you really wanted to sell here you missed the boat - it should have been as the stoch crossed the 90 or the 70. Putting a limit order where you have indicated is just guessing imo unless you have some fundamental reason for doing so that you haven't explained?

kundanketki · Post by **kundanketki** » Sun May 18, 2014 3:20 pm

spotdespot » Sun May 18, 2014 6:42 pm wrote:
kundanketki » Sun May 18, 2014 12:06 pm wrote:Hi All,

I m new on this forum and have read through Bob's 10.7 and CSS threads. Would like to learn from you all in coming days.

Based on my understanding posting this XAUUSD 10.9 Daily long set up.

Appreciate your insights and comment.

Thanks

Kundan
Hi Kundan,

Here are a few thoughts for you.

- You say "bullish pin bar formed Friday" but you took the trade before the bar had formed. There's nothing wrong with taking a trade before a bar completes but you can't retrospectively say you took a trade based on it being a pin bar. It isn't a great pin bar imo but that is not that relevant.
- You have taken the trade within the wedge saying it is "looking to break out" of it. The problem is that it hasn't broken out yet and could easily break down through the wedge. If it did then the weekly stoch would be on the bottom as soon as price moved below the weekly open in the coming trading week.
- You have opened the trade just below a key psychological level of $1300 - probably not the best idea.
- Not sure when you opened the trade during the day but the stoch(7) is currently pointing down - despite being above the 30 - so I wouldn't want to take any trade against the current stoch(7) direction.

Over all, even though some of your analysis is sound (weekly high, monthly high, stoch moved above 30 etc), there are lots of reasons not to take that trade. Perhaps waiting until the 1300 level is broken and price breaks out of the wedge (with all other criteria being met) would be a better option.

I hope that helps.

Cheers,
Dave.

Thanks very much Dave for your comments and apologies for not clearly stating few important things.
My existing gold long is taken on 7 th may on the basis of 1st daily bullish pin bar. its not based on 10.9 rules.
Reasons for considering buystop are below.
it fulfills 10.9 daily set up conditions.
friday pin bar. my order will trigger only when its top is broken.
apart from above i m using my discretion to enter into this accumulation phase before breakout because of prior daily pin bars.
i agree with your view that waiting for breakout and trading the pullback i safer option.
Thanks so much for ur comments. Hope you would continue with it.

kundanketki · Post by **kundanketki** » Sun May 18, 2014 3:49 pm

spotdespot » Sun May 18, 2014 6:53 pm wrote:
kundanketki » Sun May 18, 2014 2:06 pm wrote:Looking to place sell limit order on USD CAD at 1.08934, Stop loss @ 1.09410, Target @ 1.07500.
Please notice where price is relative to the TMA bands. If you really wanted to sell here you missed the boat - it should have been as the stoch crossed the 90 or the 70. Putting a limit order where you have indicated is just guessing imo unless you have some fundamental reason for doing so that you haven't explained?

I agree. I might have missed the boat and should have gone short once STO7 cross 90 or 70.

Post by **spotdespot** » Sun May 18, 2014 5:03 pm

kundanketki » Sun May 18, 2014 4:20 pm wrote:
Thanks very much Dave for your comments and apologies for not clearly stating few important things.
My existing gold long is taken on 7 th may on the basis of 1st daily bullish pin bar. its not based on 10.9 rules.
Reasons for considering buystop are below.
it fulfills 10.9 daily set up conditions.
friday pin bar. my order will trigger only when its top is broken.
apart from above i m using my discretion to enter into this accumulation phase before breakout because of prior daily pin bars.
i agree with your view that waiting for breakout and trading the pullback i safer option.
Thanks so much for ur comments. Hope you would continue with it.

Ah - ok - sounds like you are on top of it then. I wouldn't take the trade personally (I am kind of picky) but your reasons are sound. To break the top of the pin bar then it is highly likely the stoch(7) will have turned back up and the weekly and monthly will be high.

Cheers,
Dave.

kundanketki · Post by **kundanketki** » Fri May 23, 2014 3:56 pm

Daily 10.9 long set up on XAGUSD.

Price is taking support of lower trendline. The only conceern is like gold price is in narrow range for a long time.

Not breaking out of this accumulation.

My buylimit order is not trigerred in yet.

Insights/comments/guidance welcome.

kundanketki · Post by **kundanketki** » Mon May 26, 2014 5:07 pm

Placed buylimit order on AUD CHF. It has taken support of lower trendline.

Buylimit at 0.82464, SL @ 0.82001 and target @ 0.83600.

aserschan · Post by **aserschan** » Fri May 30, 2014 4:03 pm

is this a good trade?

eur/cad pushed over 30 sto.
css is showing eur going up and cad going down, but both well in extreme low/high area.

any opinions? thanks and a nice weekend.

Post by **slowkey** » Tue Jun 03, 2014 1:10 am

This Daily pattern on AUDUSD may lead to a nice break down. It looks like the daily candle has separated from the oval area. These areas formed by the ribbons are usually very strong resistance and with the dome like structure right up against the weekly which is moving bearishly it is even stronger resistance. I am interested to see where this goes. The stochastic is already moving nicely down. The daily is moving up at the moment so I put in a sell limit.

audusdmdaily.png

Cheers,

Doug

Edit Oh and I left out the Giant double top or M pattern on the chart. Fascinating to see the ribbons create this pattern.

Post by **The_Snowman** » Wed Jun 04, 2014 6:03 am

rebyte2 » Fri Apr 11, 2014 9:47 pm wrote:EURJPY still obeying the daily chart nicely. Looked at H4 chart, shows a break of the yellow support line.

Hello guys, I've been away for awhile, just dropped in to see what is happening over here at Steve's forum.

Bob sure has been busy with the 10.xx methods !

Can someone please share the templates for 10.9 Daily or point me in the right direction?

I have read right through the 10.7 thread and this one also, but must have missed them, and the template in post 1 of 10.7 don't look right?

Thanks, John

Post by **milanese** » Wed Jun 04, 2014 8:20 am

The_Snowman » Wed Jun 04, 2014 6:03 am wrote:
rebyte2 » Fri Apr 11, 2014 9:47 pm wrote:EURJPY still obeying the daily chart nicely. Looked at H4 chart, shows a break of the yellow support line.
Hello guys, I've been away for awhile, just dropped in to see what is happening over here at Steve's forum.

Bob sure has been busy with the 10.xx methods !

Can someone please share the templates for 10.9 Daily or point me in the right direction?

I have read right through the 10.7 thread and this one also, but must have missed them, and the template in post 1 of 10.7 don't look right?

Thanks, John

Hi John,

as you can read in the first post of this thread you find all in the first post the 10.7 thread...

Cheers

Tommaso