DislikedNewbies, this is what I was talking about re drawing a TL on a 4hr....as you can see there was nice opportunities to re-enter longs....anyway EU (per chart) has broken uptrend so look to short pull backs....
GazIgnored
Gaz
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DislikedNewbies, this is what I was talking about re drawing a TL on a 4hr....as you can see there was nice opportunities to re-enter longs....anyway EU (per chart) has broken uptrend so look to short pull backs....
GazIgnored
DislikedNewbs, yet another example of the power of the pull back trade when going with the trend. clear down TL on the 4hr GU chart here. look at the pull back on the 29th @ 14:00 (UK time). PA kissed the TL and there was a perfect divergence on the stochs. note HAPPS SD level at 64226....nice confluence....
GazIgnored
Dislikedthis is what i'm waiting for EU to do btw after its initial break of up TL.
cheersIgnored
Dislikedthis isnt going to end well....
cheers ZH
chart of ES vs Credit btwIgnored
DislikedThanks Gaz for all the great information. Its much appreciated. Woke up late today, no trading. NFP is not my thing.
Wish everybody a good weekend. SteveIgnored
Dislikedsame mate, waiting for pull back to TL's on GU and EU for potential setup. although EU just posted a short off SD zone with stoch divergence.
Cheers
GazIgnored
DislikedIt sure did. Though I can only read the divergence on the 15 Min TF. That lower line it hit 4186 was one of my soft reversal targets. The lower SD zone 4131 was more of hard target, last chance for a reversal.
4 black crows, as if three wasn't enough.Ignored
Dislikedim out mate. got family time next week so may not be posting much. will post when I get the wonder setup!!
Cheers
GazIgnored
Dislikedone last thing, looking at the 4hr on EU ive identified (using fib retracements levels from last uptrend from 4056 to 4549, that 4162 (78.6%) could potentially offer support which could see us retest the new down TL with potential to either short (should indies confirm) or trade a break out? Macd has already made new lows at the current level relative to when EU macd made 4056 last....divergence cooking but not confirmed.
cheers
GazIgnored
Dislikedone last thing, looking at the 4hr on EU ive identified (using fib retracements levels from last uptrend from 4056 to 4549, that 4162 (78.6%) could potentially offer support which could see us retest the new down TL with potential to either short (should indies confirm) or trade a break out? Macd has already made new lows at the current level relative to when EU macd made 4056 last....divergence cooking but not confirmed.
cheers
GazIgnored
DislikedYes it certainly could. Chart shows the picture of your setup. Another thing I usually look at at the start of each week is how far price opens in relation to its 50, 100, and 200 EMA's (on the 4hr chart). If the distance is great then I consider that the pair has the potential to be in a distressed state and reverse. In JPY pairs that state of distress can usually last longer than USD based pairs, unless in a strong and proven trend.
So yeah its a good look for next week IMO.Ignored
Dislikeddeffo mate, lets wait for that TL kiss....
have a great weekend. GazIgnored