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10.6 EDSEL
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Author:  nanningbob [ Wed Dec 11, 2013 1:02 am ]
Post subject:  Re: 10.6 EDSEL
Some of you may not know what we are referring to but here is the eur/aud.

1. Price has touched the 60 showing this run is now over.
2. triple top (red arrows) is considered a solid reversal signal
3. STO7 signal is not right for this trade yet on the 4H
4. STO7 signal on the 1H is.
5. If you range trade like this and you play the STO7 on the 1H. If it gets back to the bottom on the 1H and there is no movement then you get out and wait for the next signal. The reason is with the STO7 on the bottom of the 1H and 4H and they both move up you can be in deep do do.

See pics of eur/aud 1H and 4H charts. 10.6 shows range/reversal time so you can try a trade like this.
Author:  nanningbob [ Wed Dec 11, 2013 1:03 am ]
Post subject:  Re: 10.6 EDSEL
The range in the trade above is the green high bar and the 60 MA green line on the bottom. You will want to trade either above or below the green lines. In the middle can be tough.
Author:  95026862 [ Wed Dec 11, 2013 1:20 am ]
Post subject:  Re: 10.6 EDSEL
Pipstubborn wrote:
My 2 pips....
haha i like that
Author:  trucomallica [ Wed Dec 11, 2013 1:33 am ]
Post subject:  Re: 10.6 EDSEL
Pipstubborn wrote:Why you have to do that? 240 in H1 is the 60 on H4. You have a perfect BUY set up on H4, Bar is Green, Price is above 240 and 60 and Sto is on the bottom coming back up to 20 and right now Price is below DP where I placed a Buy pending.

If you are thinking to go down cause CSS is telling you in advance that this COULD happen.... why don't you wait until Price goes below H4 60.... then you will be in the Range/Reverse zone where you can Buy or Sell with the H4 Sto signals 80/20

My 2 pips....
I'm taking my chances :)

I think the CSS is "heavier" because it shows an aggregate of what is happening in all pairs. I know it's early and that I'm not following the rules to the letter. I should have said that my pending is below 1.500, so it is under the 60 in the 4H ;)
Author:  darshanag [ Wed Dec 11, 2013 1:46 am ]
Post subject:  Re: 10.6 EDSEL
nanningbob wrote:The euro is still the top currency on the CSS so you are still sitting good even though it is leveling off and has lost steam. Its momentum may still carry the day. The gbp however, is slowing down its strengthening.

This is the time of year where volume gets thin and price can get more unpredictable. I am closing out positions and cleaning up for the year. Its been a good year for me and will not do much serious trading again until next year. I will hang around because I want to see 10.6 and see how it handles these less certain periods of trading. I have never done well in December.
Hi Bob.. have you closed out your y'day's positions in GBP/NZD & GBP/CHF ? if not, do you intend to let them ride the DT or exit with a profit just to be on the safe side ?
Author:  nanningbob [ Wed Dec 11, 2013 2:06 am ]
Post subject:  Re: 10.6 EDSEL
darshanag wrote:
nanningbob wrote:The euro is still the top currency on the CSS so you are still sitting good even though it is leveling off and has lost steam. Its momentum may still carry the day. The gbp however, is slowing down its strengthening.

This is the time of year where volume gets thin and price can get more unpredictable. I am closing out positions and cleaning up for the year. Its been a good year for me and will not do much serious trading again until next year. I will hang around because I want to see 10.6 and see how it handles these less certain periods of trading. I have never done well in December.
Hi Bob.. have you closed out your y'day's positions in GBP/NZD & GBP/CHF ? if not, do you intend to let them ride the DT or exit with a profit just to be on the safe side ?
I closed my profit trades and look to reset. I take profit at the middle of sessions because the vast majority time that will be the height of the move. The gbp/chf is a double red bar so its a valid 10.6 trade. I have my pending sell at the 15 MA just below the DP and a 2nd position sell at 145.500.

The gbp/nzd is similar but is in the range area still. I have my pending sell just below the 15MA and a second at 197.500. If price breaks back up then I will pull the two trades.
Author:  trucomallica [ Wed Dec 11, 2013 2:11 am ]
Post subject:  Re: 10.6 EDSEL
Bob, are you placing your take profits at 50 pips? I thought it could be a good idea to put them at 100 pips to not limit the run... or 100 pips is too extended?

EDIT: I think an obvious answer would be that it depends on each pair.
Author:  nanningbob [ Wed Dec 11, 2013 2:42 am ]
Post subject:  Re: 10.6 EDSEL
I am not making this part of 10.6 EDSEL but Baluda's update 1.09 of the CSS allows MTF of the CSS lines. SO now I can see the two lines on each chart. HEre is the GBP/NZD on the 4H and you can see them narrowing. It maybe valuable to see this, it may not but I am looking at it. Looks like this. You can get it at Baluda's thread. Those of you that like the 10.4 CSS reads on each chart that is available now in MTF. Again when put on 24 pairs like I do you need a pretty powerful computer to run all those CSS indies.
Author:  nanningbob [ Wed Dec 11, 2013 2:54 am ]
Post subject:  Re: 10.6 EDSEL
trucomallica wrote:Bob, are you placing your take profits at 50 pips? I thought it could be a good idea to put them at 100 pips to not limit the run... or 100 pips is too extended?

EDIT: I think an obvious answer would be that it depends on each pair.
Also time of session is very important to my trading. I take what that session gives me and that many times is not 50 pips. It is also why I use multiple positions. I will take a profit price will retrace and I will take the same trade all over again. In a 50 pips move I could take two or three 20-30 pip profits.
Author:  Anthar [ Wed Dec 11, 2013 3:37 am ]
Post subject:  Re: 10.6 EDSEL
nanningbob wrote:
Anthar wrote:I wanted to share a trade I'm in right now and see what you guys and Bob think. I'm recently trying to put a lot of the weight in the decision to trade on the CSS reading, anyway I entered an EURAUD trade with decent readings on both the chart and CSS, at least to my opinion; but what I see now could be taken as a serious read AGAINST my trade, with AUD on the CSS angling up and the EUR coming down. So would you take this as a reading to close? what you think?
The eur/aud just touched the 60 line again showing that its last run is sputtering and coming to an end. The best trade you can think of getting now is price begins to show reversal patterns. Like a double top, 1,2,3 swing trade, head and shoulders etc. In other words you stand a good chance of making a profit but not a continued UT run. Since the STO 7 is coming up off the bottom you still look in good shape. I would watch the STO 7 more closely from the 1H at this point to make sure I dont get caught in a reversal.
Thanks Bob and tibo for your answers. Let's see how it plays. I'm still trying to figure out the ins and outs in the use of the CSS as it is a major part of the system, but sometimes (as every aspect of trading) it requires of the expertise of the user, I think that's what makes Bob able to call a short for example on GBPCHF, when I would chicken out when I see GBP angling up and CHF going down on the CSS. I guess screen hours give you that kind of sensitivity. Thanks again guys.
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