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| 10.6 EDSEL https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=3259 |
Page 133 of 234 |
| Author: | nanningbob [ Tue Feb 25, 2014 12:03 am ] |
| Post subject: | 10.6 EDSEL |
I will watch price action and see what happens. Maybe it will break the R maybe not. Most likely it will retrace and then I will look to enter from the STO 7. Your better entrances during range times is usually off a lower TF chart. Trying to range trade on a 4H or daily can be tough. The CSS tells you which direction should be the better trade so you go to a lower TF chart and see if you can get a good entrance. I almost never go lower than a 1H though be cause I am not able to sit before a computer constantly which you have to do with lower TF. |
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| Author: | Pipstubborn [ Tue Feb 25, 2014 12:04 am ] |
| Post subject: | 10.6 EDSEL |
Bob,what means the purple dot next to the H4 EU and US? Thanks |
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| Author: | nanningbob [ Tue Feb 25, 2014 12:18 am ] |
| Post subject: | 10.6 EDSEL |
A dot means a line has crossed the 20 or 0 line. A bar means two currencies have crossed. That is one area I still am working on. |
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| Author: | Pipstubborn [ Tue Feb 25, 2014 12:32 am ] |
| Post subject: | 10.6 EDSEL |
Bob, AD/JY and NZ/JY are diverging very nice and passed the .20 /-.20 on H4 CSS, but there is no STO7 signal on the H4 chart although is a Sto7 entry on the H1 chart. Will be ok to enter this way even if we not have the second dummy light bar? Thanks |
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| Author: | Staedtler [ Tue Feb 25, 2014 12:54 am ] |
| Post subject: | 10.6 EDSEL |
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 ? |
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| Author: | johnf [ Tue Feb 25, 2014 1:34 am ] |
| Post subject: | 10.6 EDSEL |
Bob just wanted to ask you a quickie please. Why is it that you place pending buy & sells rather than entry when the alert engages and the charts look favourable? |
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| Author: | nanningbob [ Tue Feb 25, 2014 2:11 am ] |
| Post subject: | 10.6 EDSEL |
Right now the aud/jpy is at its R line so that can be a tough trade. Which means you could enter and it goes back into a negative. I will set a pending above the highs but not at or below them. Same thing with nzd/jpy. These are the type of trades where you are getting a CSS signal which alerts you to a Resistance break up but that does not mean it will happen today. It could happen tomorrow and you sit on a negative trade that could retrace. If you play tight SL you get a SL and then tomorrow or the next day it runs. Also prices are inside the two 20 lines meaning we are in really a range mode and price should/could bounce up and down and not break out. So these trades are tricky. Remember CSS only gives you places to go look for a good trade. When you get to the chart you look for your best entrance. The best entrance on these two are the break above resistance OR a retrace where you re enter back into the trend strength. |
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| Author: | Geges [ Tue Feb 25, 2014 2:24 am ] |
| Post subject: | 10.6 EDSEL |
I have some positions north but it seems like a battle of "Who wants to be the weakest"... |
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| Author: | nanningbob [ Tue Feb 25, 2014 2:25 am ] |
| Post subject: | 10.6 EDSEL |
See answer above. |
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| Author: | nanningbob [ Tue Feb 25, 2014 2:32 am ] |
| Post subject: | 10.6 EDSEL |
OK we have a CSS signal to go look. nzd/jpy chart we see: 1. strong resistance area that has held for several weeks. 2. STO 7 signal not going in the same direction. 3. However, a trendline if it holds would make a good entrance area. |
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