nanningbob wrote:

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.

harry wrote:Hi Bob,

can you tell me what we can do in this scenario...this is current in eurusd 1h chart...i saw golden bar with red thin bar...what is the trend...is it in range and if yes then why we have red next to golden bar...

thanks in advance
Harry

nanningbob wrote:
If you are away from the screen get Steve's MPTM (multi-purpose trade manager). You can set it to bring your sl up to a profit point so you dont let a winner turn into a lose. For example at 20 pips it will move the SL to +5 and now you have a trade you never lose on.

One of my big rules of trading is:

DONT EVER LET A WINNER TURN INTO A LOSER.

Nidolap wrote:I took the liberty to make a quick pdf of all Bob's posts and pictures on this thread.

Bob, thanks a lot for all this hard work!

nanningbob wrote:There will be 3 basic buy trades and 3 basic sell trade scenarios. Here is the standard 10.4 buy trade.

3. You then can set your buy trade using a pending script, EA, or manual trade. You set your trade crossing the DO (Daily Open), xxx.000 line (solid line), xxx.050 dotted line, or in some cases the 15 MA line. If you like trading lower time frame charts (TF) you can do that also. The signal to buy into the trend has been given it is now your choice whether or not to take the trade.

harry wrote:Hi Bob,

can you tell me what we can do in this scenario...this is current in eurusd 1h chart...i saw golden bar with red thin bar...what is the trend...is it in range and if yes then why we have red next to golden bar...

thanks in advance
Harry

pgd wrote:

nanningbob wrote:There will be 3 basic buy trades and 3 basic sell trade scenarios. Here is the standard 10.4 buy trade.

3. You then can set your buy trade using a pending script, EA, or manual trade. You set your trade crossing the DO (Daily Open), xxx.000 line (solid line), xxx.050 dotted line, or in some cases the 15 MA line. If you like trading lower time frame charts (TF) you can do that also. The signal to buy into the trend has been given it is now your choice whether or not to take the trade.

hi bob,

the daily pivot is drawn on your charts. however, you say "Daily Open" in the quoted text.
do you actually mean the "daily Pivot" ?

thanks.

nanningbob wrote:
Gold bar means it is ranging red bar means possible sell back into a DT. Notice how I marked my chart.

1. Price touches the 60 MA showing this DT move has ended for now.
2. Red lines are the previous high/low which establish the range area.
3. First attempt to break 240 line fails and even though it broke the high support line it still did not break out of the range area. (area between 240 and 60 are range areas.
4. Price breaks back down back inside the range area creating a lower low in the candle highs. This could signal a move back into a DT so a good entry point is a sell at the DO. Red bar confirms price is higher than the 80 bar on the 1H chart. Since the DO is over 90 pips away from the bottom range line and the red range bars S/R are around a 150 pips this qualifies as a good range sell trade.
5. A second sell is at the 135.50 line just below the bottom red range. This is a good place to reenter the DT.
6. This area is a good place to buy into a new UT. You can do this if price doesnt move on the sell and the euro crosses up past the usd on the 10.6 info page either the 4H or Daily info chart.
OR if price doesnt break the lower range bar and you want to try a buy back up into the range area off of a green 1H bar. A good entrance back into the buy would be 134.00 line at the bottom of the range area. This also would give you more than 50% trade of a range trade.

I am playing the sell to cross the pivot line and my first TP near the 134.00 line. A second sell will be just below the 133.50 as going into a DT is possible. This scenario may happen if the eur and usd dont cross on the 4H or Daily CSS chart. Watch the angles of the CSS chart on the info page. euro is angling up and usd is flat.

This is how you use the info from your chart with the info from the 10.6 info trade to confirm the possible direction of a move. CSS shows usd with more strength but is flat and euro strengthening. If this continues you have a not very powerful sell more likely a range trade.

If euro crosses usd then you have a strong signal to buy into the growing strength of euro and weakening of the usd.

If euro quits angling up and usd continues angling up then another DT begins.

That is a complete 10.6 analysis for eur/usd.

harry wrote:

nanningbob wrote:
Gold bar means it is ranging red bar means possible sell back into a DT. Notice how I marked my chart.

1. Price touches the 60 MA showing this DT move has ended for now.
2. Red lines are the previous high/low which establish the range area.
3. First attempt to break 240 line fails and even though it broke the high support line it still did not break out of the range area. (area between 240 and 60 are range areas.
4. Price breaks back down back inside the range area creating a lower low in the candle highs. This could signal a move back into a DT so a good entry point is a sell at the DO. Red bar confirms price is higher than the 80 bar on the 1H chart. Since the DO is over 90 pips away from the bottom range line and the red range bars S/R are around a 150 pips this qualifies as a good range sell trade.
5. A second sell is at the 135.50 line just below the bottom red range. This is a good place to reenter the DT.
6. This area is a good place to buy into a new UT. You can do this if price doesnt move on the sell and the euro crosses up past the usd on the 10.6 info page either the 4H or Daily info chart.
OR if price doesnt break the lower range bar and you want to try a buy back up into the range area off of a green 1H bar. A good entrance back into the buy would be 134.00 line at the bottom of the range area. This also would give you more than 50% trade of a range trade.

I am playing the sell to cross the pivot line and my first TP near the 134.00 line. A second sell will be just below the 133.50 as going into a DT is possible. This scenario may happen if the eur and usd dont cross on the 4H or Daily CSS chart. Watch the angles of the CSS chart on the info page. euro is angling up and usd is flat.

This is how you use the info from your chart with the info from the 10.6 info trade to confirm the possible direction of a move. CSS shows usd with more strength but is flat and euro strengthening. If this continues you have a not very powerful sell more likely a range trade.

If euro crosses usd then you have a strong signal to buy into the growing strength of euro and weakening of the usd.

If euro quits angling up and usd continues angling up then another DT begins.

That is a complete 10.6 analysis for eur/usd.

thanks bob...

i have placed sell pending at DO

lets see what happens...

Harry