10.6 EDSEL

[zentauro67]

Thanks, Bob. Yesterdays´NZD following AUD tip made my week. (I entered two sells in EURNZD and GBPNZD before the big drop) Great teaching. That´s what I call a lesson.

[zentauro67]

This is something that is working for me. I always start with the Daily chart before passing to Edsel´s 4H. I use a channel to see if the odds of reversal are high or low. Also I have two lines coming from a 365 period bands telling where this reversal points could happen. When I see a pinbar out of the bands line and the price touching the upper line of the channel I allow myself a CT trade. I´m now 217 pips in profit as I entered a little too soon with a SL above the pin. Most of the time (90%) price is very far of these lines and I just go to Edsel 4H trying to catch the swings in direction of the trend.

Imagen 001.jpg

Bands Level.mq4

SHI_Channel_true.mq4

[nanningbob]

This is something that is working for me. I always start with the Daily chart before passing to Edsel´s 4H. I use a channel to see if the odds of reversal are high or low. Also I have two lines coming from a 365 period bands telling where this reversal points could happen. When I see a pinbar out of the bands line and the price touching the upper line of the channel I allow myself a CT trade. I´m now 217 pips in profit as I entered a little too soon with a SL above the pin. Most of the time (90%) price is very far of these lines and I just go to Edsel 4H trying to catch the swings in direction of the trend.

Imagen 001.jpg

Bands Level.mq4

SHI_Channel_true.mq4

Cool

[kenguo2000]

Thank you Bob, thank you Zentauro67!:)

[fx800]

The sell-off of the EURO and GBP crosses continued on Friday. I am surprised by the ferocity of the moves.

Both the EURO and GBP continues to angle down.

More sell-off next week ? Fairly likely, I would think.

I would be watching for retracement and then re-join the shorts or place a pending below the previous low.

[nanningbob]

CSS daily.

The keys are the euro and chf crossed the 0 line and are heading into a DT.
The nzd has crossed up and the aud is about to and are heading into UT territory.

The JPY is stagnating in DT territory which should be no surprise as the bond sales will continue this week
Cad is right on the 0 as an undecided and the USD is some UT but not very strong.
The GBP is king of the hill and had a strong retrace. The question will be will they join their euro cousins or decouple and stay on top or above the 0 line.

My guess is gbp will rebound and remain stronger than the eur and chf but how long before trouble on the continent will filter to the isles.

So from this info sell jpy but eur/jpy and chf/jpy will probably range. Buy gbp/jpy, usd/jpy, nzd/jpy, aud/jpy
Sell euro and chf crosses except for jpy and eur/gbp which may range in the mud. Sell eur/aud, eur/nzd, eur/usd, eur/cad. I probably wont touch eur/jpy and dont trade eur/chf or eur/gbp.

IF nzd and aud keep climbing then buy nzd/usd, nzd/jpy, nzd/chf, aud/usd, aud/cad, aud/jpy, aud/usd, and aud/chf. Sell eur/nzd, gbp/nzd, eur/aud, gbp/aud.

USD and CAD look like they want to play in the mud and be flat.

If the gbp fall continues it looks like it will drop big but I am not expecting that.

[nanningbob]

eur/cad, eur/aud, eur/nzd, eur/usd have broken the 240 so this matches the CSS. eur/jpy has not and may not.

aud/jpy and aud/chf are above the 240 line. aud/cad and aud/usd both bounced off.

cad/jpy looks like it will stay above the 240 chf/jpy looks like it will play in the mud.

All gbp pairs have stayed above the 240 but below the 60 except the gbp/chf. These could stay in a range area for now. I dont trade eur/gbp. If they break below that 240 line take a ride into DT heaven and enjoy the pips.

GBP/NZD is the exception and has broken the 240 line into a DT

USD/CAD go play in the mud.
USD/JPY and USD/CHF look for those solid buys, I think both will go up for a while.

OK go trade have fun and enjoy 2014. Gonna be my best trading year yet. I can feel it, the CSS almost makes it too easy.

[fx800]

Thank you Bob for your comprehensive analysis for the coming week.

The members in Steve's forum certainly have an edge over others. I know some guys in other forum got stuffed when they tried to go long on GBPNZD and GBPAUD when they "retraced to value (i.e. between 8/ 21 ema's dynamic support on D1) in an uptrend" on Friday. They do not have the benefit of your brilliant CSS !

Happy new year !

[trucomallica]

Is it possible to have the CSS in the price chart instead of the indicator window? all my lines go away every time I close the platform

It would be cool to have an indi that calculates the slope of the CSS based on the last 3 or 4 data points.

Also, I thought the plan was to devalue the JPY, why the bond sales should make go up?

[fxsteen]

This may be a dumb question but I haven't seen it addressed. Please direct me to the thread if it has. I am really new to trading. I have been looking at it for about a year and now want to pursue it seriously. I have a full time job which I would like to be able to replace with trading eventually. I have a friend who is very serious about trading and he trades only 8-11 on the NY session. He recommends this because that way he does not have to be consumed with charts all day he can close at 11 and be done. I live on the west coast so I could do this(5-8 in the morning). I really like the 10.6 system. Everything I know about the market and MM agrees with Bobs trading system, and this is obviously a tried and proven system. I am just trying to figure how to trade this with limited time to look at charts. Usually from 8-5 PT I will not be able to check trades. And I don't want to spend every spare moment at home buried in charts or on the computer. I am willing to put time in. I would just like to do it at a scheduled time each day. I would appreciate any suggestions on the best times or ways to approach this. Thanks in advance.