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10.6 EDSEL
https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=3259		 Page 8 of 234
Author:  nanningbob [ Wed Nov 20, 2013 10:33 pm ]
Post subject:  Re: 10.6 EDSEL
SpiderX wrote:
nanningbob wrote: Eur/Chf follow each other around like Mutt and Jeff and AUD/NZD also follow each other around with the AUD taking the lead, except the last several weeks.

Hi Bob,

Have a question: Since Eur /CHf follow each other so closely, does it make sense to for example actually skip AUD/CHF trade if you already have a EUR/AUD trade ?
Since EUR/CHF follow each other so closely, when you are taking a EUR/AUD buy trade, it is almost as good as taking a AUD/CHF sell trade.
The charts of these 2 are almost the exact reverse of each other.
Does it make sense to have double expose to EUR indirectly ?

It would make sense at least at this point of time to take out "repeated" pairs until this close correlation between EUR/CHF ceases.
i.e No point monitoring AUDCHF, CHFJPY , NZDCHF, USDCHF if we are already looking at EURAUD, EURJPY, EURNZD, EURUSD

Please correct me if this is wrong.

Cheers
I have thought about the CHF and taking it out to see what it does with the CSS but havent done it yet. I agree with your assessment but havent gotten into it. I do not trade eur/chf but I do trade the others so in that sense I want to know how they are doing and affecting the market. You have to be careful with this correlation thing because the NZD economy is totally different with how it trades with Euro and CHF. The Swiss banks have locked themselves in for now but if they unlock themselves from the Euro this correlation is no longer true.

For example it used to be the eur/gbp mirrored each other closely and it was the least volatile pair on the market seldom moving more than 60 or 70 pips a day. That is no longer true. The eur/gbp have decoupled the last couple of years as the British economy has diverged some from the Euro economy. I used to trade the aud/nzd because it was an easy range pair but now I seldom do. China affects their economies too much now so that correlation is much smaller in price action. The Swiss bank has tied their anchor to the Euro for now but in the future if that changes then they will diverge again. So in one sense I understand what you are saying but long term it may not stay that way.

Long term fundamentals dont look good for the Euro. France' banks are deeply in debt holding a lot of loans to other countries and may become news in 2014 or 2015. When that happens the Swiss may no longer want to hook themselves so closely with the Euro.
Author:  art [ Wed Nov 20, 2013 11:08 pm ]
Post subject:  Re: 10.6 EDSEL
will try that shellsnail
Author:  Chris [ Thu Nov 21, 2013 1:49 am ]
Post subject:  Re: 10.6 EDSEL
Any thoughts? Any big surprise that will move the JPY one way or the other?
Author:  nanningbob [ Thu Nov 21, 2013 2:57 am ]
Post subject:  Re: 10.6 EDSEL
Chris wrote:Any thoughts? Any big surprise that will move the JPY one way or the other?
This is usually the part of the month where JPY bond buying tapers off and the JPY will strengthen. So I will be looking for sell signals (JPY buys). All the JPY pairs except the gbp/jpy have touched or broken the 60 MA and the gbp/jpy has hit a resistance line like 8 times. So I believe the JPY sells have run out of steam and will start reversing. That also should mean the AUD will strengthen some but it is not showing it. NZD has been strong so things are not the norm. Still JPY looks like its monthly run is over and I will look to sell. AUD/JPY has already touched the 240 line so looking to sell there.

Since I am not getting a good sell entrance on aud/jpy but I like taking crosses of the 240/60 lines, especially when I think the fundamentals are on my side. I will take a position but use a smaller lot than normal and then as it clearly shows sell increase my lot position. If I am wrong then my loss is smaller than normal but if it is a good decision then I can add to the position and get back up to my full size trade.
Author:  harry [ Thu Nov 21, 2013 11:38 am ]
Post subject:  Re: 10.6 EDSEL
Hello Everybody,

I have just installed all files on its place in my Empty4 platform but when i am opening MT, it says waiting for update and nothing is happening. If i use other profile from list then its loading but when using profile 104 its not loading at all...

I have just installed all files from 10.4, 10.5 and 10.6 so can any one help me plz...

thanks
Harry
Author:  nanningbob [ Thu Nov 21, 2013 12:04 pm ]
Post subject:  Re: 10.6 EDSEL
harry wrote:Hello Everybody,

I have just installed all files on its place in my Empty4 platform but when i am opening MT, it says waiting for update and nothing is happening. If i use other profile from list then its loading but when using profile 104 its not loading at all...

I have just installed all files from 10.4, 10.5 and 10.6 so can any one help me plz...

thanks
Harry
From your market watch drag each currency pair to its screen and release. For example drag aud/cad from market watch to aud/cad screen, drag eur/usd to eur/usd and release and so forth.
Author:  nanningbob [ Thu Nov 21, 2013 12:08 pm ]
Post subject:  Re: 10.6 EDSEL
Dang I have gotten 280 pips this week on the gbp/nzd playing the range and then it went almost 200 pips straight up. Missed it but cant complain but WOW. Negative Chinese data sent it. This changes the picture some on the JPY unless the AUD, NZD, and JPY decide to all weaken at the same time. Way to go China, doesn't surprise me though I have seen the number of unemployed higher than normal but not way high. Just surprised China admits it.
Author:  Chris [ Thu Nov 21, 2013 1:14 pm ]
Post subject:  Re: 10.6 EDSEL
nanningbob wrote:Dang I have gotten 280 pips this week on the gbp/nzd playing the range and then it went almost 200 pips straight up. Missed it but cant complain but WOW. Negative Chinese data sent it. This changes the picture some on the JPY unless the AUD, NZD, and JPY decide to all weaken at the same time. Way to go China, doesn't surprise me though I have seen the number of unemployed higher than normal but not way high. Just surprised China admits it.
Well, what ever it was, It sure helped me, Last night I was down 300 and some odd pips on a basket of JPY trades, but with fresh signals showing up last night I added new trades to them, woke up to being up a 188 pips. took the gift and closed them all out. EURJPY and CHFJPY were a couple that turned around big time for me. :D
Small lots and big stops paid off!
Author:  Chris [ Thu Nov 21, 2013 1:37 pm ]
Post subject:  Re: 10.6 EDSEL
I did not see much market reaction to the china data, did have more to do with this?

http://www.forexlive.com/blog/2013/11/2 ... if-needed/
Author:  Pipstubborn [ Thu Nov 21, 2013 6:54 pm ]
Post subject:  Re: 10.6 EDSEL
Hi Bob, I notice that all your MA are linear weighed but the STO 7 is smoothed instead of linear weighed.
Is this correct? I will apreciate a little insight full. As always I'm very thankfull for your work and teahings.
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