so after the rise your studies show a BIG fall like that?? http://www.forexfactory.com/attachme...6&d=1188439578
Auslanco - GBP/JPY and GBP/USD (newstrade)
Alright. Quick example for all newbies (and any others interested) on how the 5SMA works in relation to price retracements. This is a 1H chart which was showing negative momentum at 2000 GMT (4PM EST). It looked like a retrace to the 5SMA on the hourly was a certainty. However, because volume disappears at 4PM EST the momentum indicator could not be fully trusted to pull price down. So what has happened since then? The 5SMA has come up to meet price. In a moving market price will seek out the 5SMA. In a low volatility market the 5SMA will seek out price. Hope this helps.
M2B
- #18,483
- Aug 29, 2007 9:25pm Aug 29, 2007 9:25pm
By the way, is KevinSW gone for work yet? http://www.forexfactory.com/images/icons/icon10.gif
Ok now...Everybody get ready...here it comes...in ten mins.. BIG MOVE!!!
30 min won't cross over before I leave for work...If I gamble you will know if I went long or short...just watch the spike in prices..
Now just remember that your pip makin party will end in 12 hours when I get back home...lol But only for 3 hours then it will rev up again when I go to bed...lol
See ya all later..
- #18,485
- Aug 29, 2007 9:27pm Aug 29, 2007 9:27pm
- Joined Feb 2007 | Status: Trade @ your own risk | 6,628 Posts
I already stated earlier that it definitely looks like 235.50 will be retested. My opinion, which doesn't count for much, is that there is a good possibility that 239.00 will be reached (there is a 61.8 Fibo there). I'm not sure about your Monthly 5SMA , though there is an extended Fib right there at 240.50. But then again, September is historically a bullish month for GBP/JPY, for whatever that's worth.
M2B
M2B, just have a quick look at the weekly and monthly QQE in august ... we have never had a bearish line up like this august.. so this September could be the month of big fall.. thats one reason I think it will complete all the 5SMA retracments (including monthly) before the massive fall. Let me know your opinion
- #18,486
- Aug 29, 2007 9:27pm Aug 29, 2007 9:27pm
- | Joined Dec 2006 | Status: Trader | 1,556 Posts
I've just read the last 20pages or so. Thanks so much M2B for the momentum posts. I've started to understand it and those explainations will help even further. Great job matey!
M2B
- #18,489
- Aug 29, 2007 9:32pm Aug 29, 2007 9:32pm
- | Commercial User | Joined Dec 2006 | 1,016 Posts
http://www.tradingcentral.com/chart/...0829213956.GIF
M2B, just have a quick look at the weekly and monthly QQE in august ... we have never had a bearish line up like this august.. so this September could be the month of big fall.. thats one reason I think it will complete all the 5SMA retracments (including monthly) before the massive fall. Let me know your opinion
- #18,490
- Edited 9:57pm Aug 29, 2007 9:34pm | Edited 9:57pm
- | Commercial User | Joined Dec 2006 | 1,016 Posts
my preference: Long positions above 233.35 with targets @ 234.99
Alternative scenario: Below 233.35 look for further downside with 232.21
the 30-min RSI is overbought
Alternative scenario: Below 233.35 look for further downside with 232.21
the 30-min RSI is overbought
M2B, just have a quick look at the weekly and monthly QQE in august ... we have never had a bearish line up like this august.. so this September could be the month of big fall.. thats one reason I think it will complete all the 5SMA retracments (including monthly) before the massive fall. Let me know your opinion
- #18,491
- Aug 29, 2007 9:36pm Aug 29, 2007 9:36pm
- | Joined Nov 2006 | Status: Trader | 5,040 Posts
just this and the dow ind gives you good results???I no were info for the dow is but treasuries?????
Of course not, needs to couple it with Aus' strategies
If you would like to know the relationship between Treasuries (bonds) and currency, google it, you will get plenty of info.
Hope it helps.
- #18,494
- Aug 29, 2007 9:47pm Aug 29, 2007 9:47pm
- | Joined Nov 2006 | Status: Trader | 5,040 Posts
Well here it comes everybody...make lots of pips...I am off to work...
Don't worry .. give us the address, will send you some thru FedEx delivers right in front of your door
j/k.
- #18,496
- Aug 29, 2007 9:48pm Aug 29, 2007 9:48pm
M2B, just have a quick look at the weekly and monthly QQE in august ... we have never had a bearish line up like this august.. so this September could be the month of big fall.. thats one reason I think it will complete all the 5SMA retracments (including monthly) before the massive fall. Let me know your opinion
If the Fed lowers the interest rate next month will this align with your theory that the carry trades will unwind?
- #18,497
- Aug 29, 2007 9:51pm Aug 29, 2007 9:51pm
- Joined Feb 2007 | Status: Trade @ your own risk | 6,628 Posts
I think that before you call these preferences to be YOUR strategy you should be honest with the forum and let them know that these are NOT your preferences but rather the technical analysis team for FXCM Daily FX Analysis and all you have done is copy and paste their graph and preferences. sw
You are kidding me...bro... No one else have the 5SMA retracemnent theory and thats mine. Check where the monthly 5 SMA is..LOL
By the way.. I'm glad to hear that FXCM also following my strategy
- #18,499
- Aug 29, 2007 9:53pm Aug 29, 2007 9:53pm
- | Joined Dec 2006 | Status: Trader | 1,556 Posts
M2B, just have a quick look at the weekly and monthly QQE in august ... we have never had a bearish line up like this august.. so this September could be the month of big fall.. thats one reason I think it will complete all the 5SMA retracments (including monthly) before the massive fall. Let me know your opinion
M2B
- #18,500
- Aug 29, 2007 9:57pm Aug 29, 2007 9:57pm
- Joined Feb 2007 | Status: Trade @ your own risk | 6,628 Posts
Aus... he was referring to turn1to100's post
oH darn..just looking for a place to hide my face..
.. sorry skillwill