stevehopwoodforex.com • 10.4/10.5 trades only

Author:

pips400 [ Fri May 31, 2013 10:52 am ]

Post subject:

Re: 10.4/10.5 trades only

endikwong wrote:
pips400 wrote:
fok wrote:Ok, will try stop thinking (my wife always says "You think too much") and start driving the car.

Long Entry USDCHF

h4.png

h1.png
Hi Fok, the USDCHF is a good example of price action verses indicators. We've just had lower high and lower low on the H4 and the CSS Daily is showing USD moving down and CHF moving up, so even though the signals are there to go long on a 10.4 (although not yet goldenrod), I am looking for this to go south. In fact I want to see a 50-61.8 retrace from where price is right now then go short, so you may get the bounce in which case I would take profit early possibly the WP line.

I'm learning to rely more the Daily CSS than the 4H CSS. I find the Daily CSS gives me a good idea of overall momentum and currency strength, but for the intra day momentum, rather than the 4H CSS I prefer looking at price action on the chart which I find much easier, gives more information, and for me price action is king.

USDCHF 31 May 2013.jpg

Does it mean that, price would still go up first then go down? Based on the projection there, it would first go up around 100 pips ?

Interesting post, thanks for sharing

I am expecting price to rally before it moves further south. Of course it could just be taking a rest for a while and then continue down. This is a mix of CJ Price Action, and Bobs 10.X. On 10.X you've got a bounce off the WS1 back to WP (bear in mind though that it's Friday, so may not happen as markets will typically slow during NY session). With CJ PA, we've just had 2 levels down on the 4H starting on the 23 May, so expecting another level down, but before that happens I expect Fox to take price higher to collect some longs before heading south, and so far I haven't seen that. That classic PA is the Fib retrace. So bit of a mixed bag, but my style of trading would be to wait for the rally then take the reversal back into the DT. The reason why I'm not going long to WP is because momentum is going the other way, and so I have no confidence how far price will rally before moving down again.

Have a great weekend

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Author:	nicoacademia [ Fri May 31, 2013 4:17 am ]
Post subject:	Re: 10.4/10.5 trades only
looks like i'm late but wasn't monitoring the thread. but yea. 30M css brought my attention to USDCHF. i was studying and analysing the jpy pairs to see what's up but that usdchf cross helped me pull my focus onto something else. guess a good target will be wms1 and then see how it goes. 130531 usdchf.png

Author:	rosst [ Fri May 31, 2013 5:14 am ]
Post subject:	Re: 10.4/10.5 trades only
This is good information and debate.... The problem with the 10.4 or 5 entry is that the H4 CSS is red - I never heard of Bob going down to a 30 min chart - but still interesting

Author:	Staedtler [ Fri May 31, 2013 7:53 am ]
Post subject:	Re: 10.4/10.5 trades only
Don't want to be in on any US trades over the weekend. especially with this bastard spewing diarrhea from his mouth on sunday SunJun 2 11:00am USD Fed Chairman Bernanke Speaks

Author:	pips400 [ Fri May 31, 2013 9:56 am ]
Post subject:	Re: 10.4/10.5 trades only
fok wrote:Ok, will try stop thinking (my wife always says "You think too much") and start driving the car. Long Entry USDCHF h4.png h1.png Hi Fok, the USDCHF is a good example of price action verses indicators. We've just had lower high and lower low on the H4 and the CSS Daily is showing USD moving down and CHF moving up, so even though the signals are there to go long on a 10.4 (although not yet goldenrod), I am looking for this to go south. In fact I want to see a 50-61.8 retrace from where price is right now then go short, so you may get the bounce in which case I would take profit early possibly the WP line. I'm learning to rely more the Daily CSS than the 4H CSS. I find the Daily CSS gives me a good idea of overall momentum and currency strength, but for the intra day momentum, rather than the 4H CSS I prefer looking at price action on the chart which I find much easier, gives more information, and for me price action is king. USDCHF 31 May 2013.jpg

Author:	endikwong [ Fri May 31, 2013 10:27 am ]
Post subject:	Re: 10.4/10.5 trades only
pips400 wrote: fok wrote:Ok, will try stop thinking (my wife always says "You think too much") and start driving the car. Long Entry USDCHF h4.png h1.png Hi Fok, the USDCHF is a good example of price action verses indicators. We've just had lower high and lower low on the H4 and the CSS Daily is showing USD moving down and CHF moving up, so even though the signals are there to go long on a 10.4 (although not yet goldenrod), I am looking for this to go south. In fact I want to see a 50-61.8 retrace from where price is right now then go short, so you may get the bounce in which case I would take profit early possibly the WP line. I'm learning to rely more the Daily CSS than the 4H CSS. I find the Daily CSS gives me a good idea of overall momentum and currency strength, but for the intra day momentum, rather than the 4H CSS I prefer looking at price action on the chart which I find much easier, gives more information, and for me price action is king. USDCHF 31 May 2013.jpg Does it mean that, price would still go up first then go down? Based on the projection there, it would first go up around 100 pips ? Interesting post, thanks for sharing

Author:	Jonathan2FI [ Fri May 31, 2013 12:49 pm ]
Post subject:	Re: 10.4/10.5 trades only
Hi looking at next week pick of the pairs from CSS D1 on basis of strength and trajectory (accel decel) USD+ EUR + JPY + NZD - AUD - CAD - then assemble the pairs CSS Only Review of major S&R USDCAD+, upto1.0436 ok EURCAD+ No too close to SR AUDUSD- ok to 0.94025 NZDUSD- No too close to SR EURAUD+ OK for 300pips EURNZD+ No too close to SR AUDJPY- No too close to SR NZDJPY- ok broken major SR CADJPY- OK 5 on initial watch list for 10.4 H4 any one agree or am I over analysing (yes I am an engineer!). Keeping with Bob's analogies I see the S&R lines as walls ... not great for a cars paint work and repair bills... hey but maybe they are just "street furniture" or road signs as many drivers like to call them. Jonathan

Author:	nicoacademia [ Fri May 31, 2013 3:17 pm ]
Post subject:	Re: 10.4/10.5 trades only
nicoacademia wrote:looks like i'm late but wasn't monitoring the thread. but yea. 30M css brought my attention to USDCHF. i was studying and analysing the jpy pairs to see what's up but that usdchf cross helped me pull my focus onto something else. guess a good target will be wms1 and then see how it goes. 130531 usdchf.png CHF giving the nice weekend feel rather Bob's 10.4 giving the nice weekend feel

Author:	spillini [ Fri May 31, 2013 8:12 pm ]
Post subject:	Re: 10.4/10.5 trades only
Slow, steady...Freddy! Another 20 % this week. A steady money maker using the old style 10.4. EUR/GBP + 114.5 Pips USD/CAD + 25.3 Pips NZD/USD + 123.2 Pips GBP/NZD + 73.72 Pips NZD/JPY + 93.25 Pips AUD/CHF + 115.9 Pips GBP/CAD -27.51 Pips GBP/JPY - 73.85 Pips Grand Total +441 Pips For the week. Jim

Author:	spillini [ Fri May 31, 2013 8:14 pm ]
Post subject:	Re: 10.4/10.5 trades only
Sorry guys, wrong thread. spillini wrote:Slow, steady...Freddy! Another 20 % this week. A steady money maker using the old style 10.4. EUR/GBP + 114.5 Pips USD/CAD + 25.3 Pips NZD/USD + 123.2 Pips GBP/NZD + 73.72 Pips NZD/JPY + 93.25 Pips AUD/CHF + 115.9 Pips GBP/CAD -27.51 Pips GBP/JPY - 73.85 Pips Grand Total +441 Pips For the week. Jim

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