10.6 EDSEL

Adam63 · Post by **Adam63** » Fri Feb 21, 2014 9:54 am

I just played the GB retail sales news, set a pending sell on GBP/AUD, news was much worse than expected, the rate had a little dip to trigger my sell....then rocketed up about 90 pips at time of writing!
How does retail sales figure worse than expected make the currency shoot up??

Ouch.

Post by **art** » Fri Feb 21, 2014 11:49 am

traders have an excuse to push the price down on the news, then take out the stops, they then get in at a lower price, i think thats how it works, news trading can be dangerous in my opinion

Post by **nanningbob** » Fri Feb 21, 2014 3:04 pm

Hard to test a theory when the only real move this week was the CAD with its news story Wed. Everything else pretty much stayed in its range. Picked up 2.6% of my account for the week which I consider good since I cut my trading to 2 cents per thousand for my account. I go to low numbers whenever I test something out so in one sense I cant complain. It would be nice to test this when a currency goes into a good trend so we can see how to ride it and stay with a winner. You know 'let your winners run'. We will have to test that in different week. Anyway time for bed for me and will have weekend commentary later. Night.

Post by **art** » Fri Feb 21, 2014 9:23 pm

hi bob, took a long gbpusd the trade dropped a hundred pips, took the trade at 1.6715, middle of friday afternoon here in uk not a good time to take a trade anyway, but i should have taken notice of the 4 hour css,although the daily css gbp is above usd, on the 4 hour it was below, so should i have not taken that trade, still learning to use the two time frames together, obviously i was adhering to the edsel rules, your thoughts, cheers

Jason Rogers · Post by **Jason Rogers** » Fri Feb 21, 2014 11:31 pm

Rocket » Wed Feb 19, 2014 11:29 pm wrote:sunday bar(FXCM

Hi Rocket, I thought you might be interested to know that FXCM's newest Empty4 servers have daily candles synchronized to begin and end with the New York Close at 5pm EST, so there are no Sunday bars.

thelearner · Post by **thelearner** » Sat Feb 22, 2014 7:38 am

good result following daily CSS slope

AUD and JPY drop, EUR and CHF up.

Post by **nanningbob** » Sat Feb 22, 2014 7:56 am

nanningbob » Sun Feb 16, 2014 3:00 pm wrote:Looking at the daily CSS we see two currencies strongly moving down JPY and USD. Looks like a good time to look at jpy sells. The interesting part is it is possible that the aud could be the only currency above the 0 line for a moment but the other commodity currencies look like they will join it.

So this is what to look for USD sell against all pairs but the best sells look like usd/cad sell and nzd/usd and aud/usd buys. Look for your best entrances and fire away.

aud/jpy buy should be strong especially after the jpy crosses the 0 line.

If you want to confirm from the 4H CSS make sure the JPY is below 0 there and the currency you are trading has crossed above it.

Whatever the aud is doing the nzd is not far behind so go with the building strength of the nzd as it crosses the euro pairs and jpy. If you see a real negative story come out of China bail on the aud strength but if a positive story comes out on China take the ride.

The gbp looks like it may go back into strengthening so keep an eye on it crossing that 0 line.
eur and chf may depreciate or just hang around in the middle. I would not be afraid to take aud and nzd buys against the euro currencies but let the charts show you a good entrance.

So how did I do this week?? Well, the JPY sells were good on Monday and Tuesday but dived after that. Then the sells were good late Thursday and Friday so depending on whether you took profit or hung probably determined your week with JPY sells. For me I took my profits quickly and they piled up nicely, getting in and out of this ranging market.

USD I said usd/cad sell and nzd/usd and aud/usd buys. usd/cad was flat with one big move in the middle of the week. Not a good sell at all. nzd/usd was a good slow sell all week so I lost money on it. aud/usd buys were good if you used the STO 7 signal all week but it had some wicked down moves. SO if you were in and out you did good. Me I got 4 small trades each for a total of 111 pips on aud/usd so I squeezed some out there.

nzd as it crosses the euro pairs and jpy. It really didnt strengthen and when it did it was a small move. I lost money on nzd pairs this week except gbp/nzd.

euro and chf pairs were a mix with a tiny profit but I did well on eur/jpy.

So I did well with jpy sells and gbp/nzd, gbp/aud buys the rest were minimal winners or losers. Good for a 2.6% increase of my account.

Post by **nanningbob** » Sat Feb 22, 2014 8:04 am

art » Sat Feb 22, 2014 5:23 am wrote:hi bob, took a long gbpusd the trade dropped a hundred pips, took the trade at 1.6715, middle of friday afternoon here in uk not a good time to take a trade anyway, but i should have taken notice of the 4 hour css,although the daily css gbp is above usd, on the 4 hour it was below, so should i have not taken that trade, still learning to use the two time frames together, obviously i was adhering to the edsel rules, your thoughts, cheers

GBP/USD was a nightmare to trade this week as it bounced up and down sometimes several times a day. I managed to make more than I lost but it was a tough one to trade. If you look at the CSS 4H they ran parallel with the USD running slightly stronger. The 1H pic below shows how bouncy it was. Tough trade.

Bottom line was this was not an easy week to trade. I feel lucky I made a profit but that was because I did really well with the JPY sells. If it wasnt for those I probably am sitting on a losing week.

Post by **art** » Sat Feb 22, 2014 11:28 am

thanks for replying bob glad it wasn't just me this week, i found it tough as well, still learning to use the css with more accuracy

Staedtler · Post by **Staedtler** » Sat Feb 22, 2014 8:46 pm

I've really been enjoying GBP/AUD trades, they run for quite a while and they make huge moves. it's been in a range period for quite a while, i'm hoping we will break out soon. looks like CSS is suggesting a DT for the pair soon. i'll be keeping this on my watch list. if it all works out, should be some good moves.

correct me if i'm wrong