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10.4 A Complete System
https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=1481		 Page 338 of 745
Author:  Ingot54 [ Tue Apr 16, 2013 6:42 am ]
Post subject:  Re: 10.4 A Complete System
kwanann wrote:Here's my current AUDJPY setup

I had another trade at 100.816 closed at 100.958, that's because its a .5 trade, using that to cover my loss trades in Gold

Mine's a variant of CJ and 10.x

Look at the bottom picture for a 10.x setup, came back too late to enter at mid pivot so entered where it was.

Probably will add one more at weekly support with the same SL and see how it goes from there onwards. I'm ok with a long term trade since AUDJPY give NICE swap
Probably what I would be doing too Kwanann ... but I am sitting on my hands atm.

I like your strategy of covering Gold losses with quick trades.

The chart of EURJPY 4H attached, is identical in all but name, with ALL of the other XXXJPY.

Why is that?

Isn't the AUD or NZD quite different from the EUR USD GBP???

Whether or not this market is rigged we may never know ... only suspect.

But to see ALL the crosses in unison like this tells me
the BOJ is back ... big time ... selling YEN again.

See my post here for the full 6 pairs that are identical in TA:

http://www.stevehopwoodforex.com/phpBB3 ... 696#p54696
Author:  rosst [ Tue Apr 16, 2013 7:17 am ]
Post subject:  Re: 10.4 A Complete System
rebyte2 wrote:Here is a snippet from today's 'Market and Money' email, by Larry Eledson.

+++++++++++++++++++++++++++++++++++++

Urgent: Historic Gold Crash. What To Expect Next ...

I'll get right to the point ...

.......

+++++++++++++++++++++++++++++++++++++
I used to read his stuff - did he recommend selling gold before this crash? I never saw him do anything but buy it?
Author:  nanningbob [ Tue Apr 16, 2013 7:54 am ]
Post subject:  Re: 10.4 A Complete System
You dont have to be afraid of trading if you know what the market is doing. I went to the gbp/jpy and looked at the dialy and it tells the whole story. Previous resistance becomes future support. It is one of the rules of trading we hear but different when we experience it. I should have known better but pending buys here we come. It could go back to support again but that is normal price action. It is just the moves have been so big and we are just not used to that lately. Anyway whether it goes back up or tests support again I am in. and ready to trade.
Author:  nanningbob [ Tue Apr 16, 2013 8:01 am ]
Post subject:  Re: 10.4 A Complete System
here is the daily trading naked. I added Support lines that the gbp/jpy took off from. I am at it again over 600 pips today so far. I keep saying this over and over again trade small enough lots, low enough leverage, and you can survive these sudden dips and recover.
Author:  kwanann [ Tue Apr 16, 2013 8:13 am ]
Post subject:  Re: 10.4 A Complete System
@Ingot

Beware, quick trades can turn the wrong way, i got the feeling that xxxyen is going up hence the buy.

Its probably going to go down again, but i've a lot somewhere near rock bottom so i'm not afraid of stacking trades higher up

If you look at the monthly, there is quite a strong support at the previous month's closed price for the past few months, so i'm based my initial trade off that price. Unfortunately my earlier trades got closed out by an incorrectly set MPTM, else the gains would have been a whole lot nicer.

Anyway i'm holding these lots till it hits 107 and then i'm out

Got my ass itchy on sell gold again, let see how that works out, worse case i end today with a small gain
Author:  kwanann [ Tue Apr 16, 2013 8:15 am ]
Post subject:  Re: 10.4 A Complete System
There seems to be some inverse correlation between gold and aud, whenever gold goes down, AUD goes down as well

*Update: Yup confirmed, AUD seems to be pegged to gold now

Anyway added an extra lot for audjpy, lets see how the whole group of them moves
Author:  nanningbob [ Tue Apr 16, 2013 8:16 am ]
Post subject:  Re: 10.4 A Complete System
As CJ would look for a pin bar which we got big time on the 4H chart. I began going from line to line taking profit and entering. 10.4 set up with daily S area confirmed. Next line up I set my pendings and took profit at the next line. Nothing fancy or big. 1 level at a time while I work my way through this move. At 5 is WS and waiting too see if it breaks. Would not be surprised if it goes test the daily S line again. I have already picked up almost 150 pips on gbp/jpy today by itself. I am looking for it to break WS1 and entering, if not and it goes back down I will set up my pendings as it goes down. I will reenter back into the trend each time it dips.
Author:  kwanann [ Tue Apr 16, 2013 9:25 am ]
Post subject:  Re: 10.4 A Complete System
hmm WS1 seems to be the new support for AUDJPY?
Author:  Gertje [ Tue Apr 16, 2013 10:09 am ]
Post subject:  Re: 10.4 A Complete System
nanningbob wrote:I began going from line to line taking profit and entering. 10.4 set up with daily S area confirmed. Next line up I set my pendings and took profit at the next line. Nothing fancy or big. 1 level at a time while I work my way through this move.
I noticed the weekly lines are closer together that today's daily lines, which do you use?
Author:  nanningbob [ Tue Apr 16, 2013 10:38 am ]
Post subject:  Re: 10.4 A Complete System
Gertje wrote:
nanningbob wrote:I began going from line to line taking profit and entering. 10.4 set up with daily S area confirmed. Next line up I set my pendings and took profit at the next line. Nothing fancy or big. 1 level at a time while I work my way through this move.
I noticed the weekly lines are closer together that today's daily lines, which do you use?
I have been using both depending on the pair being traded. It looks llke the rebound is real for now but we will see if it breaks WS1. The good news is they have broken the daily pivot and that is a good sign.
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