10.7

dispell · Post by **dispell** » Mon May 12, 2014 3:00 am

nanningbob » Mon May 12, 2014 10:57 am wrote:The daily chart shows us that we are in a good reversal or at least a dip if usd/chf is going into an UT. It is at its decision point and will it break up or down. You buy and you could find yourself on the wrong side of the trade for hundreds of pips. You sell and USD could break into a nice new UT. Dragonhead wants you to believe eur and chf should go down making he USD go up but so far they havent taken action. Yet the big boys may believe he has no choice but make the eur go down during the summer. hmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmm

How do I make sure I get on the right side of this??

From what I know of 10.7, isnt it a tad too early into the week to consider a trade?
Do we wait for the CSS cross, or do we anticipate it?

Post by **nanningbob** » Mon May 12, 2014 3:06 am

When the market is moving strongly and you want to find out if the strong move will continue you drop to a lower end chart and see what it does. I will use the 30M here. The TL maker gives us a clear break line to buy off of and continue in the trend. You could place a pending buy above the maroon upper trend line and then play the trend line for a tight SL on the other side. That is one way to trade it.

OR if the D2.1 slams to the bottom you can have a pending sell in the blue area and put a tight SL in the black area.

Either way you can catch the retrace or ride the continued wave if it continues to day.

D2.1 may show the way for a sell OR
7.2 will go below the 30 or 10 and give you a buy later.

Happy trading and this is how 10.7 can work for you.

Post by **dclayw** » Mon May 12, 2014 3:48 am

dispell » Mon May 12, 2014 1:00 pm wrote:
From what I know of 10.7, isnt it a tad too early into the week to consider a trade?
Do we wait for the CSS cross, or do we anticipate it?

That's something I've been meaning to ask about too. Is it better to wait for the weekly STO to settle down before using 10.7. There could be good opportunities in any session any day of the week, but leaving it alone 'till London session on Tuesdays seems like a prudent thing to do.

Asian session has always been the least active, even moreso these days it would appear. So I'm not using 10.7 'till the London session starts, or maybe an hour or two before. This leaves the Asian session for the daily STO to settle down.

Is this what most people are finding? I'm speaking generally here, you have to trade what is put in front of you but Mondays seem just a waste of time for me, and the Asian session a waste of time pretty much any day of the week.

Post by **nanningbob** » Mon May 12, 2014 3:56 am

If you do what I just showed you, you will be in the right direction if it moves. Otherwise price could just sit and you are not at risk. I actually do well on Monday corrections or continuations.
For example JPY bond sales for the month are starting later today. I will be looking for my usual JPY sells and if they surprise and increase the sales I will be in.

dispell · Post by **dispell** » Mon May 12, 2014 4:20 am

nanningbob » Mon May 12, 2014 11:56 am wrote:If you do what I just showed you, you will be in the right direction if it moves. Otherwise price could just sit and you are not at risk. I actually do well on Monday corrections or continuations.
For example JPY bond sales for the month are starting later today. I will be looking for my usual JPY sells and if they surprise and increase the sales I will be in.

Correct me if I'm wrong bob, but what you're saying is that you have TWO pendings, one above the TL, and one below?

Edit: and what are these bond sales, and the impact they have? Would love to ride some pips here

dispell · Post by **dispell** » Mon May 12, 2014 7:21 am

nanningbob » Mon May 12, 2014 11:06 am wrote:When the market is moving strongly and you want to find out if the strong move will continue you drop to a lower end chart and see what it does. I will use the 30M here. The TL maker gives us a clear break line to buy off of and continue in the trend. You could place a pending buy above the maroon upper trend line and then play the trend line for a tight SL on the other side. That is one way to trade it.

OR if the D2.1 slams to the bottom you can have a pending sell in the blue area and put a tight SL in the black area.

Either way you can catch the retrace or ride the continued wave if it continues to day.

D2.1 may show the way for a sell OR
7.2 will go below the 30 or 10 and give you a buy later.

Happy trading and this is how 10.7 can work for you.

Missed the entry on M30 10.7 sell, entered of the cross of 90 on H4.
Here's keeping my fingers crossed.

Tight SL above the TL, will let the TP ride.

Post by **nanningbob** » Mon May 12, 2014 9:16 am

I only played the 30 M chart. Got 11 pips and closed when it hit bottom. It rose to the top again and may try it again if it gives a signal. Never too proud to take a profit.

JPY Bond sales I have been talking about them every month for almost 1 1/2 years now. gbp/jpy is already up 23 pips.

Post by **nanningbob** » Mon May 12, 2014 9:24 am

gbp/jpy 30M chart I took the 24 pips. Top of TMA and STO7 hit top. I will look for retrace back in or go for a longer term trade when it crosses the xxx.50 line. Just taking some quick retraces today almost 70 pips to start the week. Usually I do better than that but that is what I try to do on Mondays early, pick up some quick pips here and there until I see the market choose a direction. I still am set up for the usd/chf to move up into an UT but if not I may play another down move and see if it goes someplace again.

Using 10.7 on the 30M is a good way to pick up 10-20 pips on 4 or 5 pairs to get your week going. It feels good to get 50-150 pips on Monday early to warm up the week.

dispell · Post by **dispell** » Mon May 12, 2014 9:24 am

nanningbob » Mon May 12, 2014 5:16 pm wrote:I only played the 30 M chart. Got 11 pips and closed when it hit bottom. It rose to the top again and may try it again if it gives a signal. Never too proud to take a profit.

JPY Bond sales I have been talking about them every month for almost 1 1/2 years now. gbp/jpy is already up 23 pips.

H4 didnt go too well for me, but i'm on a micro acc learning the ropes, left at -15pips.
I see.. Seems I've got a bit more to read. Somehow managed to miss the bond sales.
So it's usually the beginning of each mth？

dispell · Post by **dispell** » Mon May 12, 2014 9:28 am

nanningbob » Mon May 12, 2014 5:24 pm wrote:Using 10.7 on the 30M is a good way to pick up 10-20 pips on 4 or 5 pairs to get your week going. It feels good to get 50-150 pips on Monday early to warm up the week.

I've noticed this too, during the weekends when I went thru a few pairs on 10.7, looking for opportunities to use it. However, wasn't that sure about it, wanted to observe it live before committing. 10.7 does shine on certain pairs on the lower TF's, that is, if you've got constant access to a computer to enter and close out once the STOs hit their target. Nice few pips there.