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10.4 A Complete System
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Author:  TraderDesk [ Tue Apr 02, 2013 5:09 am ]
Post subject:  Re: 10.4 A Complete System
nanningbob wrote:All Euro pairs are trying to make the WP line but will either bounce or not make it. I am all in on Euro sells. I wont touch eur/chf looks tasty but has only moved 114 pips in 2 weeks. Too much chance of SNB interference but it may move.
So far selling EUR seems to be the order of the day. EURUSD looks like a nice sell...

Bob, in your 10.4 framework do you sell positions when your sell conditions are met before PA has come down to the pivot levels underneath Price? Example is EURUSD I am showing. PA is right at pivot. STO is TOP and RSI is just starting to come of TOP. PA is below 240ma and CCY is showing EUR as the weakest currency. Do you sell now and add to that at the next below pivot line or wait for PA to hit the next below pivot to open your first position?

Thanks....
Author:  Chris [ Tue Apr 02, 2013 6:41 am ]
Post subject:  Re: 10.4 A Complete System
Looks like some really nice setups. Some of these I am already in because I was stupid enough to trade from last friday to today. I should have paid more attention to the bank holidays and sat on my hands. But for the most part I am not hurt I think it will all work out in the end. I have had one loss and one winner that have equaled out, we will see what today brings. Happy trading to all.
Author:  nanningbob [ Tue Apr 02, 2013 7:30 am ]
Post subject:  Re: 10.4 A Complete System
TraderDesk wrote:
nanningbob wrote:All Euro pairs are trying to make the WP line but will either bounce or not make it. I am all in on Euro sells. I wont touch eur/chf looks tasty but has only moved 114 pips in 2 weeks. Too much chance of SNB interference but it may move.
So far selling EUR seems to be the order of the day. EURUSD looks like a nice sell...

Bob, in your 10.4 framework do you sell positions when your sell conditions are met before PA has come down to the pivot levels underneath Price? Example is EURUSD I am showing. PA is right at pivot. STO is TOP and RSI is just starting to come of TOP. PA is below 240ma and CCY is showing EUR as the weakest currency. Do you sell now and add to that at the next below pivot line or wait for PA to hit the next below pivot to open your first position?

Thanks....
When fundamental news is on your side Yes I will take the trade at the pivot. I think that is a great trade with low risk high reward. The question is not will the Euro go down but whether the USD can pass it in weakness. I dont think that can happen but you know this is Forex, anything can happen. But Yes I am taking that trade.
Author:  Ingot54 [ Tue Apr 02, 2013 7:47 am ]
Post subject:  Re: 10.4 A Complete System
Chris wrote:Looks like some really nice setups. Some of these I am already in because I was stupid enough to trade from last friday to today. I should have paid more attention to the bank holidays and sat on my hands. But for the most part I am not hurt I think it will all work out in the end. I have had one loss and one winner that have equaled out, we will see what today brings. Happy trading to all.
Chris - don't beat yourself up. If you made the entries based on sound entry principles, then for the most part you should be ok.

The risk is some jawboning-attention-seeker in one of the central banks who has something trite to say to the media over the weekend, will result in a temporary gap that potentially touches your SL.

When I began FX trading, gaps were a rarity - today they are expected!

I have been in the GBPAUD since 28th (2 positions) and 29th (2 more positions) and kept it open through the weekend too. Today the reward is coming :D

But my weakness has always been the exits, and currently the GBPAUD has respected support at the WPP. But while the AO is still red and dropping, and while the STO 5 and/or the RSI 2 are dropping as they are, I am not going to blink.

I am going out in an hour of so to play Texas Hold'em socially (free chips!) and my 4H candle will close/open an hour after I leave. But I have full confidence that this move will break through the WPP, without too much hesitation. I am not going to sweat on this current small pullback - I am going out to enjoy my card game, and let the market wobble around.

Worst case scenario is that I break even, and that happens!

Here's a chart - not copybook 10.4 pending entries, but one day I'll master that. In the mean time I kept building my position where and when I had access to the computer.

GL with your trades - once you get the hang of this, it's very quick to become second nature to trade ... it grows on you 8-)
Author:  rebyte2 [ Tue Apr 02, 2013 8:20 am ]
Post subject:  Re: 10.4 A Complete System
nanningbob wrote:JPY setting up for the kill by those that think it is a bull. I dont buy the bull routine unless the US congress and president continue their kill the USA for political principle crap.
This has shorts written all over it.

I posted a chart last week showing a strong S/R line that it had to break.

It has.
Author:  Staedtler [ Tue Apr 02, 2013 8:29 am ]
Post subject:  Re: 10.4 A Complete System
rebyte2 wrote:
nanningbob wrote:JPY setting up for the kill by those that think it is a bull. I dont buy the bull routine unless the US congress and president continue their kill the USA for political principle crap.
This has shorts written all over it.

I posted a chart last week showing a strong S/R line that it has to break.

It has.

any idea on how to trade it ?
Author:  rebyte2 [ Tue Apr 02, 2013 8:39 am ]
Post subject:  Re: 10.4 A Complete System
Staedtler wrote:
rebyte2 wrote:
nanningbob wrote:JPY setting up for the kill by those that think it is a bull. I dont buy the bull routine unless the US congress and president continue their kill the USA for political principle crap.
This has shorts written all over it.

I posted a chart last week showing a strong S/R line that it has to break.

It has.

any idea on how to trade it ?
Only my view.

Wait for price to retest the Support line( or as close as possible), now as Resistance.

If it fails to push back up through, and begins the journey down from under the 240 line, then we start to look for 10.4 setups.

Until then.... we wait.
Author:  nanningbob [ Tue Apr 02, 2013 8:59 am ]
Post subject:  Re: 10.4 A Complete System
Actually the JPY announcements are Wed. nite thurs. morning JPY so safe until then. I am having too much fun with the EURO, GBP, and NZD to play with JPY. Did take the GBP/JPY short for some 130 pips though. 405 pips so far pocketed this week and just getting started. That is a 3.7% increase of my account in a day and half. I think today will be a big day for me. :) I am playing line to line but some of them are using 10.5 lines. NZDCHF I took 3 trades using 10.4 signals but played 10.5 lines. Two I scalped for total of 35+ pips profit and the last trade I am letting it run.
Author:  nicoacademia [ Tue Apr 02, 2013 10:15 am ]
Post subject:  Re: 10.4 A Complete System
i think the downtrend in the EURUSD will continue. as will the USDJPY down trend.
just wait this retrace out. the right time will come. still early in the week with NFPs at the end of the week too.
Author:  Gertje [ Tue Apr 02, 2013 10:25 am ]
Post subject:  Re: 10.4 A Complete System
nicoacademia wrote:i think the downtrend in the EURUSD will continue. as will the USDJPY down trend.
just wait this retrace out. the right time will come. still early in the week with NFPs at the end of the week too.
If the above is true, sell BIG EURJPY since that is the outcome of your statement.
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