10.4 A Complete System

[padnoter]

I didn't get a signal on GBPNZD - any insights as to what I've got wrong? (see attached)

the rsi2 template showed a good signal (rsi=98.6 with price closing above WP) for a short (see bob's 1.01 template)... Sometimes the stoch & rsi give slightly different signals.

[cmeade2]

Allison

So glad it's working for you.

BTW you keep insane hours.

cmeade2

gbpnzd just hit my TP at 1.80224

[nanningbob]

I didn't get a signal on GBPNZD - any insights as to what I've got wrong? (see attached)

The signal was given last Thursday and our screens were loaded up with multiple levels. This week price broke the pivot and away we went. Gbp/nzd and eur/nzd were good profit trades on Monday. I set my trades last Thurs day at the signal and reset them for the cross of the pivot today. I had 2 eur/nzd positions take profit, 2 gbp/nzd take profit, and I had 4 gbp/chf trades 2 in profit 2 took losses for a BE.

RSI 2 signal was given set my trades. Price popped above the pivot so had orders set below pivot and MID level. Monday was the day so price run should be short took profit at S1. I will now look for a retrace and a bigger move later in the week OR it may just run and run. GBP is the weakest currency right now per the info page so it could very well do that.

[nanningbob]

With Lagueere/RSI got the same read. STO 5 with combo of crossing back over the pivot same read. I dont know how you could have missed it. Several posts also talked about the set up the last several pages. :

Those that put heavy emphasis on the AO, which I do not recommend would have missed most of the move but they would have gotten something.

[nanningbob]

ACTUALLY the eur/nzd positions are still open but both are in profit. I have moved my SL to just above the pivot so that trade is a guaranteed winner and more if it runs more.

[lhDT]

Well ... I'm still short GN & EN (closed half and moved SL at the high). The move we got today is (to me) a strange move for NZD.
Here is a new NU call. Comments welcome as usual.
Trendline hit - downtrend - Stochs & RSI2 OB

[nanningbob]

eur/nzd 10.4 areas of entrances. bounce off of the 240 line, 3 chances, Crossing over pivot line 5 chances, Laguerre, RSI2, Sto5 4 chances. That is 12 times you could have played this ranging market but the 240 line is telling you to take sells in the range. Signals are there if you want to trade.

[Foreverforex]

Thanks for the reply, NB. I'm new to system/thread so learning. My price feed never had Stoch indi flatenning out, only reached 78.x, so didn't register for me. Guessing it's a broker/difference issue. Would have missed it regardless, as wasn't clear if signals crossed over the weekend - now I know!!

Thanks!

FF

[Captain Jack]

Can I get your insight about AU ?
I'm tempted to short it again to parity (closed at the week open my last week short).
I like the trendline, stochs & rsi2 a bit oversold.

What do u guys think ?

Looks good for further shorts on 4HR using NB10.4. RSI just moved upto OB and awaiting flattening!

Although we may not swing too far down (could be good for 150 pips down) with this PA bar on the daily right on support. (see attached)

Those are "buyers" but not the type you think. They bought the story that price was going to drop further and entered SHORT orders. Those SHORTS were stuck there or closed out by now. If there is a change in trend direction planed, you will see wicks like these on the next few daily candles, each presenting a higher low than the last. They will almost be following the yellow line you drew on the chart. This is called "trapping volume" and it sticks a bunch of SHORT orders at the bottom before a rise in price. You can watch to see if this develops and it offers numerous trades on the D1.

CJ

[nanningbob]

NU trade laguerre no signal but crossing back over the pivot line is. Trader Jack would say look at that possible pin bar.