Nb 10.0 trend trading system

Here is the 4H and I have attached the indicator for you to add to your charts. I hope it helps in your decision making. Obviously if price is opposite of the red line from the direction you want to trade you may want to think twice about the trade. Perhaps you are in a reversal, you think you are in a DT but it is above the open line. You may want to wait to see if it comes back below the line again. Here is the final pic for now. Enjoy. Indicator goes into the indicators folder. It will draw the weekly open on any lower chart so you can study this on any time frame.

This upgrade is an add on to 10.1 not a replacement.

Thankyou Nanningbob, dropped it on chart and will take a test this week......thank you for your time out.T

Hi Bob

I am new trader and just try to add the update on file. but it does not work.

Could u tell me how to do it, please?

Cheers

Pretty nice indicator, cannot wait for the week to start so I can test it out. This 10.1 system really seems to be quite amazing and getting better.

Go to my computer, go to C:, go to program files, go to your MT4 folder, go to expert folder, go to indicators, paste the program inside the indicators folder.

Open you MT4 program, in upper left hand corner, click on insert, clilck on indicators, open the program onto your chart.

Save your screen.

Good luck

I am following you.

Just a note on fundamentals. Euro sells stay with them until something substance happens. If the world economy slows down then the commodity currencies (Cad, NZD, AUD) will falter. However, if China can maintain its growth the AUD will stay up there. That leaves the USD, GBP, and JPY as buys. However, I am not that good at fundamentals but that is the best I can do for now.

Hi Nanningbob

Is there post of how you our using the bottom indicator with the red,blue and black lines.

Click on the paper clip in the upper right corner. You will find it under the Jan. 2 date.

These words "if China can maintain its growth the AUD will stay up there. That leaves the USD, GBP, and JPY as buys"

do you mean Aud stay up there, but USD,GBP and JPY go down. So we should buy AudUsd, AUDGBP,AUDJPY?

sorry for my poor english.

There are two kinds of fundamental trading I have noticed.
1. News traders who try to catch the wave of a news story. I really dont think of that as fundamental trading but I call it news trading. Many people here who call themselves fundamental traders are really news traders.
2. Long term trend causes. There are things that cause a currency to move in one direction for weeks, months, even years at a time. Just take a look at the eur/usd from when Bush was elected to when Bush left office. Govt. policy dictated the long term move of a currency. Some countries, like China, just fix their rates to suit their needs. Others peg them to anther currency HKD, SGD. etc. Many are free floating but influenced by govt. or central bank decisions, USD, JPY, GBP. Then there are the ones dependent on sale of their products, commodities, when economies are booming they boom, when economies are declining, they decline. These are fundamental causes. The AUD is heavily influenced by China. China's economy grows, Australia grows with it. NZ economy is heavily influenced by AUD economy. Same thing with Canada and the USA. China's economy is heavily influenced by exports. When the US economy tanked their exports went down for a while. They focused more on Europe. They used their surplus cash and debt to keep their engine running while they wait for the US economy to get back on track. Here is the domino effect that could happen. Euro goes into a funk, US economy sputters again, China's exports go down, Aud economy starts to tank and takes NZ with it. It is all interconnected and related. These are the basic fundamentals. If this scenario happens you look to sell Aud, Nzd, Cad, USD appreciates, JPY and CHF fight like crazy to keep their currencies from appreciating, GBP will probably range and the euro.............. bye bye maybe. So these are long term trends and their causes not a daily buy and sell signal. Hope this clears things up.


With that back ground we look at what causes long term moves. The Euro crisis has made the Euro go into several months of downtrend. These comments are meant to give you an idea of what currencies will do for the next several weeks or months. It is not a trade that way today or tomorrow.

looking at a short on the uj and/or long on au...any feedback is welcome
http://i688.photobucket.com/albums/v...20short201.gif

http://i688.photobucket.com/albums/v...u20long201.gif

jpy/usd has been ranging very tightly in a 200 pip range for about 1/2 year now except for the two bank interventions. I am only range trading it for now. If it breaks out to the south I suspect the BOJ to shore it back up again. The BOJ doesnt want its currency to appreciate very much and compared to other currencies there is not much pressure to depreciate it so it is ranging very tightly. Bollinger bands or some kind of range trading system would work great on it right now. Take the daily chart and zoom it to include the last year and you will see what I mean. You may get a trade but it probably would develop very slowly and not gain much.

See pic below usd/jpy range for the last 6 or so months. You can see the two spots where the BOJ interfered and you would be trading into that territory. Just a work of caution.

NZD/JPY
Possible long at 61.15. What do you think guys?

Excellent choice, NZD has been running strong today. I have the same position.

Hi Bob,

which pairs are excellent for trend trading now? Most of the pairs seems to be in ranging except for a few EUR pair.

Warmest Regards.

Yes that is the norm. Currencies range most of the time so learning to range trade is crucial to being a winning trader. My average trade profit is around that 40 pip range. I am trading most pairs and profits are more on the smaller side at this time. I still am avoiding most CHF pairs. I like range trading I think it is the easiest to trade. Price just bounces up and down. Even the Euro will probably take a breather for a while. If you go to the weekly charts and use the weekly S/R you will see many currencies are butting up against S/R weekly lines now. Will the break through or bounce. That is the million dollar question.

The problem I see developing and this is what makes Forex so difficult, both CHF and JPY are heading into areas where their central banks like to intervene. Will they or wont they. Eur/Chf is a 100+ pips from the 1.20 mark that their central bank says they will move on and USD/JPY is in that area also. It really messes everything up when they jump in. Great trades if you catch them but I am not going to predict when or where. Have no idea.