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10.4 A Complete System
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Author:  Ingot54 [ Wed Apr 17, 2013 4:58 am ]
Post subject:  Re: 10.4 A Complete System
There might be an opportunity for a few pips here.

A few of us were still licking wounds and missed entries earlier. But the GBPUSD is approaching an area of support from both the 1H and 4H charts.

The WPP and DPP are almost sharing the same price level, making it a stronger base for support.
The confluence of these pivots, plus the STO5 on 1H is setting up for a long entry at around 1.5330.

On the 4H there is no opportunity for a pending setup, because the STO5 is already up in overbought territory. But as we know, it can stay up there for days, and some of the strongest trends find their legs once the stochastic hits overbought.

I don't believe in Overbought/Oversold, btw ... they are just meaningless terms to me.

But here it is for what it's worth:
Author:  kwanann [ Wed Apr 17, 2013 6:56 am ]
Post subject:  Re: 10.4 A Complete System
Ingot54 wrote:There might be an opportunity for a few pips here.

A few of us were still licking wounds and missed entries earlier. But the GBPUSD is approaching an area of support from both the 1H and 4H charts.

The WPP and DPP are almost sharing the same price level, making it a stronger base for support.
The confluence of these pivots, plus the STO5 on 1H is setting up for a long entry at around 1.5330.

On the 4H there is no opportunity for a pending setup, because the STO5 is already up in overbought territory. But as we know, it can stay up there for days, and some of the strongest trends find their legs once the stochastic hits overbought.

I don't believe in Overbought/Oversold, btw ... they are just meaningless terms to me.

But here it is for what it's worth:
I see a pin on the H1 and a few other TF, entering a buy to see what happens. SL at the pivot
Author:  mcomsa [ Wed Apr 17, 2013 7:06 am ]
Post subject:  Re: 10.4 A Complete System
A possible explanation for XAU fall. Not the only one of course.
http://www.zerohedge.com/news/2013-04-1 ... ing-frenzy
Author:  cjthomson [ Wed Apr 17, 2013 8:41 am ]
Post subject:  Re: 10.4 A Complete System
Ingot54 wrote:
bluedog23 wrote:
Looks like this one may have bottomed out; could be a good long trade here at the weekly pivot area if it can clear that. Just browsing the charts.
Agree that this could be bottoming nicely, Bluedog.
I have a 10.4 short in play - level 2 has been triggered also. By the sounds of your comments re 'bottoming out' you've got me worried! Considering the AO has changed colour I think I'll kill position 1 now and bring Pos 2's SL to BE+.
Author:  Staedtler [ Wed Apr 17, 2013 9:09 am ]
Post subject:  Re: 10.4 A Complete System
Ingot54, that GBPUSD trade is starting to look tantalizing at this point. going to be a nice flat rsi soon, and a kick *ss entry
Author:  Davide24 [ Wed Apr 17, 2013 10:03 am ]
Post subject:  Re: 10.4 A Complete System
nanningbob wrote:
spillini wrote:Look at freeking E/J trying to blow thru the weekly pivot. Turning a would be disaster into a winning week.
Knowing the fundamental trend will help you out in your trading decisions. Monday's normally would have damaged my account but knowing it was are re-trace in a fundamental trend helped me in my decisions to hang in there. Closed some trades to keep the account from getting over extended and recovered all the rest. My line in the sand is 20% DD and then I take clear cut action. I will knock 3-7% off the top and kept it under that mark. I also go to smaller lots when markets are volatile instead of increasing them. This helps in surviving bad runs and sudden changes in direction. Once again those rules worked. With 10.4 that was the first time I went 20% DD, most of the time I am less then 10 almost always less than 5% on my DD. So I am back in my comfort range again. I think jpy will range now but I have been wrong in the past.
you're right Bob...it looks like we have established the range now...so play the extremes of the 95.70/98.70 usdjpy range for instance....95.70 on the low side being monday's night but also the NFP lows so clearly a massive level to watch...
Also worth mentioning an FT article on China that is making some noise today in the market place... a senior chinese auditor has warned "that local government debt is out of control and could spark a bigger financial crisis than US housing market crash"...so the market also remembered that last week Fitch cut China's sovereign credit rating...so risk sentiment is....
Author:  Baluda [ Wed Apr 17, 2013 10:34 am ]
Post subject:  Re: 10.4 A Complete System
New version CurrencySlopeStrength v1.0.6 in post 1 of this thread.
Changes:
  • Added timeframe to display table.
CSS FAQ
Q: Which symbols does CSS use to calculate CSS?
A: When 'autoSymbols' is set to true CSS uses all symbols in the Market Watch (Ctrl+M) window. When 'autoSymbols' is set to false CSS uses all symbols in 'symbolsToWeigh' excluding the symbols the broker does not offer.

Q: Does it matter if charts are open?
A: No, CSS does not look at any chart. For example you can have EURDKK open which means EURDKK is in your Market Watch window. Therefore CSS will include it when 'autoSymbols' is set to true. When 'autoSymbols' is set to false and EURDKK is not in 'symbolsToWeigh' CSS will not include it.

Q: What timeframe does CSS use?
A: This depends on the setting of 'autoTimeFrame', when set to true is uses the timeframe of the chart CSS is on. When 'autoTimeFrame' is set to false CSS uses the 'timeFrame' parameter which defaults to D1. When an error is made in the 'timeFrame' parameter D1 is used.

Q: What is 'ignoreFuture'?
A: Asked and answered many times, please do your homework. :twisted:

Q: Do I need a state-ot-the-art/bleeding-edge/high-end PC to use CSS?
A: No, however CSS does need some processing power, it crunches a lot of numbers. You can limit this by setting the 'maxBars' parameter to a smaller value. Do you really need to to see back a Thousand candles in the past?

Please feel free to ask me anything. (About my EA's and indicators that is, this is not Reddit.)

Enjoy,

Paul
Author:  slowkey [ Wed Apr 17, 2013 10:36 am ]
Post subject:  Re: 10.4 A Complete System
Strong Horizontal resistance from the April 12th at DR1 on the EUR/JPY with price bouncing off of it for the last 9 hours. Looks like it has given up for now and dropped down to DMR1. When it broke support at the same level on the 12th it retested it for about 9 hours. Seems to be a significant level before 130.00 ... If it get broken maybe will get a break past 130.00.
Author:  nanningbob [ Wed Apr 17, 2013 10:43 am ]
Post subject:  Re: 10.4 A Complete System
Davide24 wrote:
nanningbob wrote:
spillini wrote:Look at freeking E/J trying to blow thru the weekly pivot. Turning a would be disaster into a winning week.
Knowing the fundamental trend will help you out in your trading decisions. Monday's normally would have damaged my account but knowing it was are re-trace in a fundamental trend helped me in my decisions to hang in there. Closed some trades to keep the account from getting over extended and recovered all the rest. My line in the sand is 20% DD and then I take clear cut action. I will knock 3-7% off the top and kept it under that mark. I also go to smaller lots when markets are volatile instead of increasing them. This helps in surviving bad runs and sudden changes in direction. Once again those rules worked. With 10.4 that was the first time I went 20% DD, most of the time I am less then 10 almost always less than 5% on my DD. So I am back in my comfort range again. I think jpy will range now but I have been wrong in the past.
you're right Bob...it looks like we have established the range now...so play the extremes of the 95.70/98.70 usdjpy range for instance....95.70 on the low side being monday's night but also the NFP lows so clearly a massive level to watch...
Also worth mentioning an FT article on China that is making some noise today in the market place... a senior chinese auditor has warned "that local government debt is out of control and could spark a bigger financial crisis than US housing market crash"...so the market also remembered that last week Fitch cut China's sovereign credit rating...so risk sentiment is....
It is a crazy system they have here. The govt. owned all the land and buildings so they collected all the rents and that is how they financed themselves in the past. With the reforms limited ownership has been allowed and people have been buying land, buildings, homes, and property from the local govt. However, local govt. has been financing their growth projects instead of paying cash and they have already sold off most of the best land and property. Most people that can buy land and property have bought. I have lots of Chinese friends who have paid cash for housing and now cant rent it out because, too high a price paid and too few renters. They think the rich foreigner will rent out at 2 or 3 times the market. So I have no idea when this will catch up to all of them but remember this; 15% of China's GDP is from real estate. When funds to local govt. dry up for lack of land and building sales they dont have a tax system in place in most areas to cover their debt. Something has to give. Most people think that the pile of excess funds the central govt. has is the big thing but they dont see the underlying debt that has kept this 7-10% growth rate growing. Real estate market gives there goes that miracle growth rate and they will be debted out everywhere but the central govt. Since all these figures put out can be fudged or hidden in a bureaucracy it is hard to really know how bad it is but we can guess and it aint pretty. The Chinese are new at these boom and bust things, it will be interesting to see how they handle it.
Author:  nanningbob [ Wed Apr 17, 2013 10:47 am ]
Post subject:  Re: 10.4 A Complete System
Davide24 wrote:
nanningbob wrote:
spillini wrote:Look at freeking E/J trying to blow thru the weekly pivot. Turning a would be disaster into a winning week.
Knowing the fundamental trend will help you out in your trading decisions. Monday's normally would have damaged my account but knowing it was are re-trace in a fundamental trend helped me in my decisions to hang in there. Closed some trades to keep the account from getting over extended and recovered all the rest. My line in the sand is 20% DD and then I take clear cut action. I will knock 3-7% off the top and kept it under that mark. I also go to smaller lots when markets are volatile instead of increasing them. This helps in surviving bad runs and sudden changes in direction. Once again those rules worked. With 10.4 that was the first time I went 20% DD, most of the time I am less then 10 almost always less than 5% on my DD. So I am back in my comfort range again. I think jpy will range now but I have been wrong in the past.
you're right Bob...it looks like we have established the range now...so play the extremes of the 95.70/98.70 usdjpy range for instance....95.70 on the low side being monday's night but also the NFP lows so clearly a massive level to watch...
Also worth mentioning an FT article on China that is making some noise today in the market place... a senior chinese auditor has warned "that local government debt is out of control and could spark a bigger financial crisis than US housing market crash"...so the market also remembered that last week Fitch cut China's sovereign credit rating...so risk sentiment is....
The big moves will be in the commodity currencies especially in aud and nzd. At some point I would not want to be buying them. nzd/jpy will be the most interesting pair of that bunch. I got fooled last year on a Chinese real estate announcement so I will wait until they drop below the 240 line and then you will know it is happening. That is the advantage of 10.4 you have a clear cut place to cut your losses and begin the new direction.
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