10.4 A Complete System

[nanningbob]

I managed through the "Oil" situation, even if it's still not solved. There are a ton of open orders and an huge DD of around 30%. However, unless all the Monday gaps (actually, Sunday night gaps in my case) happen in the wrong direction and hit huge SL, I don't even mind loosing all of that, because even so, the week will still be profitable!

But I think the losing trades will be returning for the good side for most of them (greedy buys on AUDCHF, AUDJPY, AUDNZD, same on EURAUD, EURCAD and EURCHF in sells when RSI was still not completely flat, for example). Have to keep thinking positive, or the weekend will be hell

PS: As for indicators, I already have used the CSS on 10.2 but I was trying to use it for finding the "crossing" of the pairs, but now it's being really useful. I added it to the bottom of every chart, showing only the symbol on chart and locking TF to D1. Like that I can see at a glance the relative strength of each pair easily without having to switch to the "Info Page", which is usually somewhere out-of-reach and involves distracting window-swaping.

30% WOW, my experience has been 30% is where acceleration sets in and your in real trouble. I automatically start closing some trades at 20% to avoid acceleration. Biggest I ever took was 7% and that allowed my to keep trading. That 7% took about 2 weeks to recover from. With 10.4 I can do it in less than a week or even days so taking hits now is not so bad.

[nanningbob]

Cyprus passes all bills on bank resolution required for E.U. bailout

Euro Happy news, Euro goes up until reality sets in that continued negative govt. budgets reign leading to the next bailout. Not one time have they fixed the constant bleeding of negative budgets of govt. So Euro will go up until the next set of bad news of another bailout. I am so glad the USA doesnt play this game. ......................... snicker.

[nanningbob]

OK here is my expectations for Monday Gaps based on the news as of now. If you put any faith in my fundamental analysis your a fool but I like to have the fun of doing this. Euro gaps up and then when banks open and they see the line of people wanting to get their money out ....................... look out below. If there was a way to monitor plane tickets being bought by Russian rich people going to Cypress to withdraw money you could guess how bad it will get.

My apology's to the normal everyday Russian people. I really do like you guys but the Euro Super Rich man game is getting amusing to me. How do these secret Trillionaires think this is going to end anyway? The peasants with their pitchforks will want to twist the handle later.

[Guest]

I like hearing guys talk about how they adapt a strategy to fit what they know. I could take 10.4 and adapt it to my old Sto/Mac indi, You could adapt it to MACD, CCI, Bollinger bands, whatever. Etc. etc. Take what you know and use, that which you are comfortable with, add that 240 line 4H or 960 line on the one hour or 40 line on the daily and you got 10.4 basics. Anyway good luck.

For me the best part is how you incorporate perfect pivot, R/S level's.. that helps so much, i know when to get in.. i know when to get out. it's beautiful . then just add some strength and moving average for direction and your good to go

[rebyte2]

USDJPY is at the 'crossroads' again.

Major R/S line separates the bulls from the bears. Who will win this time?

For me, i'm hanging off to see how this one pans out. I see the classic 'M' pattern reversal pattern forming but not confirmed.

If it continues to go back north, then the first pending long to probably trigger an entry would be about 130 pips(WMR1) from where the PA is currently now. Too far for me as its only a further 60 pips to major top resistance. A series of LH's gives support to my thinking.

Whilst the bias is still positive, there appears to be weakening approaching.

[rebyte2]

GBPUSD looks to have finished its downtrend. The inverse H&S pattern confirms this.

Closing over the 240 line makes me feel only longs from this point forward, when 10.4 conditions are met.

[rebyte2]

EURCAD is possibly my pick for the week to come.

Lots of things lining up correctly.

Again, we are at a strong S/R line with the 240 line arching nicely down.

It is trading in a channel (as demonstrated) but the RSI 2 suggests a continuation of the down. trend.

If the EURO gaps up on Monday, it will only be a hicup in the long term process. Besides, it will give me better entries at a higher level.

[rebyte2]

Again, another one of my 'flavour of the month' pairs, EURGBP continues to preform.

Nice arching of the 240, RSI 2 in OB, with good angle and separation of the EMAs.

If EURO gaps up, then we will look for better 10.4 positions to continue the journey south.

[rebyte2]

Is GBPCHF a 10.4 no brainer?

PA is now on support line after closing over the 240 line, RSI 2 is primed and there is good angle and separation on the 2 EMAs.

Conservative traders will look for 10.4 pending longs, whilst the agressive trader will drop to the 1H and launch off the STO.

[rebyte2]

If Bob ever needed the perfect 'text book' pair to demonstrate how 10.4 should be traded, then the EURAUD is the one.

It has delivered many 100s of pips, with no end in sight.

SUMMARY: Between those six preceding charts, there should be profits for all, if 10.4 is employed correctly.

Good luck and good trading to all.