10.4 A Complete System

[tommiho]

I am 1.5 hours into the jpy session and am up another 2% of my account. I dont even have lines anymore to enter from. I am just entering anywhere now.

I am using the round number indi, and puting 6 trades per 50 pips.

[Chris]

I am out of lines. Using past S/R lines to find entrances.

Anyone notice that gbp/nzd is a sell according to 10.4

5000 pips in 1 week. This is a once in a lifetime event I think. Since starting this thread I have doubled my money.

My Empty4 with Cowboy IBFX has a close all orders function which works.

I have sinned I closed all my orders. I just cant trade long term. I have sinned.

I thought you were going to try to hold for the long term. I don't blame you for closing out. We know what direction it is heading now, and there will be retracements to buy into.

Aside from the YEN it looks like there may be some 10.4 setups in the other eur pairs.

[nanningbob]

My account is up almost 3% but I suspect some retracements as the AUD, NZD and JPY traders start closing for the weekend. I dont expect to be big but I do expect some. I will reset my pendiings off of previous highs and some buy limits for the Euro session. Gonna walk for now. Maybe a bad decision but I cant complain.

I have reset my trades with one buy limit on the line below and 2 buy stops above. My TP are now place at some previous monthly high which makes it 3-800 pips away. SL yeah right. LOL

It will be interesting to see how many people will get the idea finally and jump on the band wagon today. I will probably close everything before the USA session and just call it a week. 6000 pips is in my sights with 7000 a possibility. If wrong settle around 4000+ for the week and be done with it. Remember my winners were multiple levels. My losers will be one level. Time for a break.

To see the other lines just change the back ground color of the chart and the other lines will appear since I made them black in the indis.

[Chris]

who is still buying break out of the highs at this point? On the JPY pairs

[nanningbob]

I am out of lines. Using past S/R lines to find entrances.

Anyone notice that gbp/nzd is a sell according to 10.4

5000 pips in 1 week. This is a once in a lifetime event I think. Since starting this thread I have doubled my money.

My Empty4 with Cowboy IBFX has a close all orders function which works.

I have sinned I closed all my orders. I just cant trade long term. I have sinned.

I thought you were going to try to hold for the long term. I don't blame you for closing out. We know what direction it is heading now, and there will be retracements to buy into.

Aside from the YEN it looks like there may be some 10.4 setups in the other eur pairs.

You did not read my I have sinned post then.

[Chris]

I am out of lines. Using past S/R lines to find entrances.

Anyone notice that gbp/nzd is a sell according to 10.4

5000 pips in 1 week. This is a once in a lifetime event I think. Since starting this thread I have doubled my money.

My Empty4 with Cowboy IBFX has a close all orders function which works.

I have sinned I closed all my orders. I just cant trade long term. I have sinned.

I thought you were going to try to hold for the long term. I don't blame you for closing out. We know what direction it is heading now, and there will be retracements to buy into.

Aside from the YEN it looks like there may be some 10.4 setups in the other eur pairs.

You did not read my I have sinned post then.

No I did, I was just wondering why you changed your mind. And just kind of giving you a hard time. I think it was a wise choice. This has been an amazing week and I am looking forward to the next. On to unemployment claims for tomorrow. Good Job Bob!

[nanningbob]

I just looked at my charts and there are a whole bunch of 10.4 trades out there. Other currencies are setting up to go back into their trends.

aud/chf, eur/aud, eur/cad, eur/usd, gbp/aud, gbp/cad, gbp/nzd, nzd/chf.

Some of those gbp trades are where they were on Tues. they have retraced back to their original starting block. I will try some of them because they are high reward low risk trades near the 240 line. Wont be a big SL if they are hit.

[Ingot54]

I was casting around to see what the rest of the currency pairs are doing, and remembered Bob saying he doesn't trade CHF pairs because of SNB intervention policy. Strongly agree with this. And a heads-up on what is going on there:

The bellwether pair that triggers anxiety in the SNB is the EURCHF.

Last week the EURCHF touched its 240ma line, then on Tuesday it dropped through. It had closed above its 240 every day since November 30th 2012, and now that bull run is officially done.

The point of this post is that price on EURCHF is now only 155 pips above the SNB's line-in-the-sand intervention trigger. Be aware that intervention will affect all CHF pairs to some degree.

It could well be that the SNB will act to defend the franc before their stated 1.2000 level, to prevent the market getting too cheeky again. The ADR is around 33 pips currently, but on 14th January the range was 153 pips. That day the ADR meant NOTHING.

There are better/safer trades around at present, rather than playing with the traders in hell's kitchen (unless you can stand the heat)

[Chris]

Here is my line up

[nanningbob]

It is funny to read comments at FF. Here is one:

ty BOJ u protect us, euojpy fuck me today is last time when i use ure yen, put ure bank in carantine dont do nothing today

Already priced in... but maybe jpy will continue weaken step by step a little everyday...slowly but sure...