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Daily GBP/JPY analysis

  • #10,181
  • Jul 26, 2007 4:17am Jul 26, 2007 4:17am
Quoting wilson
Attachment

the 4 hour momentum is pointing upwards, so does it mean it still has strong support till it's pointing downwards again?

Momentum is bullish.. otherwise the price would have shooted down allready... But somehow price the current trend will push the momentum down slowley... it's sounds a bit confusing at first.. but when you stude the momentum and the price action you will get an idea about what I'm talking about.
  • #10,182
  • Jul 26, 2007 4:17am Jul 26, 2007 4:17am
auslanco

Not being up with your momentum indicator, how would it compare with a ADX.....?

Glenn
  • #10,183
  • Jul 26, 2007 4:18am Jul 26, 2007 4:18am
Quoting auslanco
I Just eneterd G/J @ 246.72
T.P 245.20
SL 248.02
Short since 247.20 and keep adding.
Nice work "Aus"
  • #10,184
  • Jul 26, 2007 4:20am Jul 26, 2007 4:20am
Quoting newjersey24
Auslanco,

Is those baically your only indicators using the 4hr chart?


Guys, What Is the strentgh indicator on MT4? RSI? Momentum?

I use 4hr and daily for trend confirmation and 1hr for entry
  • #10,185
  • Jul 26, 2007 4:20am Jul 26, 2007 4:20am
Do you really think we're going to crack it this time? Home sales are going to push us under this time since we know how awesome the housing market is doing right???
"Only when the tide goes out will we know who is swimming naked."
  • #10,186
  • Jul 26, 2007 4:21am Jul 26, 2007 4:21am
Quoting Rustyyy
Short since 247.20 and keep adding.
Nice work "Aus"
wow... may be we should catch up for a beer... your shout rustyy
  • #10,187
  • Jul 26, 2007 4:23am Jul 26, 2007 4:23am
Quoting pipped oFF
Do you really think we're going to crack it this time? Home sales are going to push us under this time since we know how awesome the housing market is doing right???

we shall wait and see...
  • #10,188
  • Jul 26, 2007 4:23am Jul 26, 2007 4:23am
Quoting auslanco
wow... may be we should catch up for a beer... your shout rustyy
Yea I miss that Aussie beer......could use a few.
Friday afternoon after 4:00 pm EST.
My treat
  • #10,189
  • Jul 26, 2007 4:23am Jul 26, 2007 4:23am
Quoting auslanco
Momentum is bullish.. otherwise the price would have shooted down allready... But somehow price the current trend will push the momentum down slowley... it's sounds a bit confusing at first.. but when you stude the momentum and the price action you will get an idea about what I'm talking about.
thanks. fyi, the price is currently being supported by the 4h 200 sma which is why it is so stubborn to go southwards.
  • #10,190
  • Jul 26, 2007 4:24am Jul 26, 2007 4:24am
I really thought we were going to hit tp on that gu push south -- so close.
  • #10,191
  • Jul 26, 2007 4:26am Jul 26, 2007 4:26am
Quoting BenQ
I really thought we were going to hit tp on that gu push south -- so close.
this is a retracement 30 min bar... lets wait untill the next 30 min bar.
  • #10,192
  • Jul 26, 2007 4:27am Jul 26, 2007 4:27am
Quoting newjersey24
Auslanco,

Is those baically your only indicators using the 4hr chart?


Guys, What Is the strentgh indicator on MT4? RSI? Momentum?
At the risk of sounding ignorant....
I am trying the CCI indicator in MT4. "CCI fits into the momentum category of oscillators"
Listed under Indicators-Custom.
I think this is the equivalent to Aus indicator, but not positive.
Any input ?
  • #10,193
  • Jul 26, 2007 4:31am Jul 26, 2007 4:31am
Quoting MikeW
I think I'll wait for a break of the 200ma

Mike
Just what I've been thinking for over 24 hours. I'm looking for a bar close below 200ma on H4. But I don't think we have the momentum to do this convincingly. Looking back, the 200ma has given some support all along the way.

Even in February, the 89ma had been falling for nearly 2 weeks before the 200ma was breached convincingly.
Gone to a better place
  • #10,194
  • Jul 26, 2007 4:32am Jul 26, 2007 4:32am
Quoting Rustyyy
At the risk of sounding ignorant....
I am trying the CCI indicator in MT4.
Listed under Indicators-Custom.
I think this is the equivalent to Aus indicator, but not positive.
Any input ?
CCI is a great indicator.... but its lagging indicator ... it only moves with the price action... momentum is a leading indictor... tell you the price action in advance.... both types got it's pros & cons
  • #10,195
  • Jul 26, 2007 4:36am Jul 26, 2007 4:36am
So MT4 guys, you think its the MOmentum indicator we have?

Quoting auslanco
CCI is a great indicator.... but its lagging indicator ... it only moves with the price action... momentum is a leading indictor... tell you the price action in advance.... both types got it's pros & cons
  • #10,196
  • Jul 26, 2007 4:39am Jul 26, 2007 4:39am
Quoting newjersey24
So MT4 guys, you think its the MOmentum indicator we have?
yes it is.
  • #10,197
  • Jul 26, 2007 4:40am Jul 26, 2007 4:40am
I hope the GBP/USD drops soon - I have to put the kids to bed and I don't want to leave the screen! Do you think it's bad to let your kids stay up all night?
  • #10,198
  • Jul 26, 2007 4:46am Jul 26, 2007 4:46am
Quoting wilson
thanks. fyi, the price is currently being supported by the 4h 200 sma which is why it is so stubborn to go southwards.
Hello!

Just wanted to point out that the price "bouncing" has nothing to do with all the fancy MAs we want to draw. The market does not see your moving average, any more than it is convinced by a 100WMA or a 21 EMA or a 5 SMA or a 250 median based average. There are so many big traders using different things that very few of these MA types and periods coincide, and there is no one point of reference that everybody uses concerning these averages. Nobody sees our pretty lines, which is why they will coincide with support/resistance sometimes, then get annihilated at others as if they don't exist.

What is happening is simple support given a range. GJ is also a derivative pair for the most part, so you are watching the UJ and GU interact right now as well.

Most experienced traders would tell you this, it is common information once you've traded for a few years and watched these things fail time and time again.

Good luck!
-A
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #10,199
  • Jul 26, 2007 4:47am Jul 26, 2007 4:47am
Quoting MikeW
I hope the GBP/USD drops soon - I have to put the kids to bed and I don't want to leave the screen! Do you think it's bad to let your kids stay up all night?
No, it's a good idea - so they can get used to it.. to trade forex eventually!
  • #10,200
  • Jul 26, 2007 4:52am Jul 26, 2007 4:52am
Quoting MikeW
I hope the GBP/USD drops soon - I have to put the kids to bed and I don't want to leave the screen! Do you think it's bad to let your kids stay up all night?

within 1hr it will try break new lows my friend..
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