Dislikedare you going to add to your short position on gbp/usd after it got stopped out today?Ignored
It sounds like you getting a cheap thrill when the trades hits my stop loss no .. I'm out with the GU.
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Dislikedare you going to add to your short position on gbp/usd after it got stopped out today?Ignored
DislikedIt sounds like you getting a cheap thrill when the trades hits my stop loss no .. I'm out with the GU.Ignored
DislikedIt sounds like you getting a cheap thrill when the trades hits my stop loss no .. I'm out with the GU.Ignored
DislikedThanks. So in that case, the 1C is basically comparing the close price of the previous bar against the opening price of the new one, if it's checked immediately after the new one has formed. Hmm . . .Ignored
DislikedWith all due respect to Aus Master, now you also see the problem of mtm 1c.
let's assume you watch mtm 1c for daily chart in such a scenario:
Yesterday, GJ closed 224.98. in the 1st minute of today, if u check the mtm 1c, how much price moved in this 1 minute? usually, not too much. OK, suppose price moves 0 (very realistic), so current price basically = the close price of yesterday (224.98). then mtm 1c = current price - closeprice of yesterday = 224.98 -224.98 = 0. Now, if mtm 1c of yesterday is a negative value. say, -2.59. From -2.59 of yesterday to 0 of today, mtm 1c will draw a "sharp up bend" on the chart.
that's how u get it. Now is it indicating a reversal or retrace? I don't believe it. mtm 1c in any TF at the very beginning of (such as the first 10 seconds) a new bar will 90% point to 0. It is simply because the current price is approximately the close price of last bar.
I do think mtm 10, mtm 14, are good to support analysis. I use mtm 4 in place of mtm 1. Just my 2 cheap cents.
Many sincere thanks to Aus Master for his constant analysis here.Ignored
DislikedHi charvo.. I must say you are only partly right. 1C keeps pointing down to the Zero level untll the price hits the true market price (5sma Close). once the price hits 5sma it gives us the correct direction to take the trade.. I will discuss this in detail next week. I'm down with a severe flu..Ignored
Disliked5 min.....
study daily price movement based on momentum indicator took us 24 hrs... For us to study , why dont we look at shorter tf, such as 5 min, What happen to the price at the end of the tf if 1C pointing down, 10 and 14 pointing up, or what ever condition. i think it may help us to understand momentum better..Ignored
Disliked227.70 is my Long target for today. This may go higher than that.. but I'm out for the day.. It's intresting to see where the candle would end today.. I'm expecting a large fall next week beyond 218.Ignored
DislikedI was expecting the GU to ride up a little more here giving the GJ a lift to the levels of 229.50 to 232.00, I also have shorts waiting all the way up to 234.
I am expecting the overall move to finally go down and test then break 219 on it's way down to 215/216.
Let's be cautious and prepared on this retracement to the 61.8 and upper trend line test, from there, as you say FREE FALL.
Note: I am taking the 61.8% from the Weekly chart, which is 234.70, the 5SMA on the weekly stands at a double top area of 232.00/50 area.
My overall thoughts are 232 area on this final push up before the MELTDOWN.
KenIgnored
DislikedAus what are your thoughts about price reaching yesterdays lows around 224.50 and then bouncing back up all the wat to 232Ignored