In this thread i would like to discuss GMMA experience. I hope you will enjoy and add your comments. Good luck to all! 
- #11
- Nov 20, 2006 4:59pm Nov 20, 2006 4:59pm
DJI mini future gone a long way and reached a top. A downward retracement can be expected.
1st target is 12290-300 weekly pivot zone and
2nd target is 12230-40 zone which is also points the 60 EMA on H4 charts.
You can quit and they won't care, but you will always know.
Nice to see someone else using this concept, one question on the above comment, how do you call a retracement from here with investors still showing strength in the long GMMA, there is no evidence of compression, if anything if sticking with GMMA purely, it is ripe to go long. Just wondering, best of luck
this can be evident from the space between the short term and the long term averages--it is decreasing.
also, even though the long term averages are still relatively spread out, their angle with respect to the horizontal is decreasing
in addition, price is penetrating further and further into thelong term averages
this is not to say that it will for SURE retrace. this might be temporary weakness from which their will be new strength.
all you can say is that the trend is weaking for now
what i would do is still look to go long when the short term averages turn up. the trend is strong, there is a good probability you can book some profit or BE if you want to hold on or at least have a small loss. the strength of the trend will give a low probability of a blowout loss.
i would not go short until the long term averages have compressed and begin to expand
p.s. actually akuma you can see a bearish wolfe wave that almost hit the EPA line
- #14
- Nov 20, 2006 6:22pm Nov 20, 2006 6:22pm
I've read Guppy's books on this one (and had emails with him also, nice fella), and the angle of the longer term averages will always decrease slightly when a pull back to that area occurs, that is normal and expected, what we want to look at is the spread of the longer term averages, which hasn't really compressed that much, and if that pullback has come from a "bubble" which in that case it didn't.
Not saying the prediction will be wrong, just observing the GMMA rules that's all
Not saying the prediction will be wrong, just observing the GMMA rules that's all
You can quit and they won't care, but you will always know.
I've read Guppy's books on this one (and had emails with him also, nice fella), and the angle of the longer term averages will always decrease slightly when a pull back to that area occurs, that is normal and expected, what we want to look at is the spread of the longer term averages, which hasn't really compressed that much, and if that pullback has come from a "bubble" which in that case it didn't.
Not saying the prediction will be wrong, just observing the GMMA rules that's all
i have trend trading by guppy is that the one you have? to me its very wordy and my short attention span gets the best of me.
i want clear simple rules to follow....what are the entry rules to temporary trend weakness?
