10.4/10.5 trades only

[spotdespot]

pendings on eurnzd, gbpnzd & nzdchf - all goldenrod H4 & RSI good.

I haven't caught up with all of CJ's thread yet (getting there slowly) but from what I saw on FXAW previously all 3 of these pairs look a little BARF-like. On H4 we have a High, Higher High and could be forming Lower Highs (reverse for NZDCHF - L, LL, HL). Can anyone who is following CJ (or CJ himself!) comment? It might keep people vigilant for possible reversals on these pairs (and others that are similar).

Cheers,
Dave.

[kwanann]

No good feel for the nzd and aud pairs, so not gonna take anything today. Seems my EA got burned trading them yesterday as well

@spot
not yet barfing

[nicoacademia]

just a note of observation.
market pace has definitely slowed down.
if you notice how the GBPUSD is moving usually you'd expect bang new high kthnxbye. but we have had this sort of whiplash dribble up.

i'm ok with me having taken profits a full 50pips from where i at least wanted it.
from a time basis i was expecting more of slap bang thank you maam type of movement.

i cant get my chart up somehow.
so can't screen it.

[nicoacademia]

so...looking at FXCM's USDollar index (which is different from the DXY futures contract)
we can see that the USD already has had weakness expressed.
this is not to say this low will hold but that probabilities/odds for an even larger move lower are lower or should logically lower in our minds. moreover RSI2 is now pinned at the bottom.
i believe there is more to work out lower.
it would be some stretch tho still possible to reach WMS2.

130613 usd.png

[kwanann]

Actually.. not sure if you guys noticed

Last time it used to be thurs and friday when things happen, now it seems to be mon and tues

Is it normal behavior during this time of the year?

Sorry still a noob, yet to even finish my 1 yr anniversary trading fx

[Jemook]

Actually.. not sure if you guys noticed

Last time it used to be thurs and friday when things happen, now it seems to be mon and tues

Is it normal behavior during this time of the year?

Sorry still a noob, yet to even finish my 1 yr anniversary trading fx

Trick is to never have any expectations from the market. If you think Mondays are shit to trade on then you might miss a good Monday. In saying this I still think Monday is a shit day to trade.

J

[kwanann]

Haha i don't, was just wondering if there is anything special during this period since everyone seems to be saying something will happen during the summer period.

Agreed that monday is a shit day to trade, you have nothing to start with except the gap over the weekend which doesnt tell you anything.

Just find it interesting that there seems to be increased volatility these past couple of days

[nicoacademia]

Actually.. not sure if you guys noticed

Last time it used to be thurs and friday when things happen, now it seems to be mon and tues

Is it normal behavior during this time of the year?

Sorry still a noob, yet to even finish my 1 yr anniversary trading fx

Trick is to never have any expectations from the market. If you think Mondays are shit to trade on then you might miss a good Monday. In saying this I still think Monday is a shit day to trade.

J

i guess having watched this gladiator arena... i've remembered times when markets opened monday or sunday night(EST) found a direction and continued all the way.

i can only put my finger on that if there's a news laiden event that actually matters carried into the weekend.

namely...the Greek incident part 1(2010) & part 2(2011/2).
you'd have the euro ministers pressing stuff out and everyone thought the world was gonna collapse...again ala 2009.

compare that with right now...the only newsline that's floating around is...QE no QE. Abe no Abe. China no China.

[zawad4u]

I just want to say thank you to Naningbob and a big take you to Jemook i have been following this thread for some time now from FF to here and i must say i have improved greatly on trading the forex never thought i could make 2500 pips a month but am getting more than that....Thanks to every body that has contributed to this thread God bless you all....

[sponn]

Last two monndays (this week and last week) were great - I mean setups on Mondays. Next week it could be Tue, Wed or Thu. We don''t know.

What we known is that 10.5 system is great, Jem has added his two cents and now we have got an amazing system works great in ranging and even better in trending markets.

So stick to the rules and make money... Mon, Tue, Wed, Thu and Fri... whatever