Yet another great chart, but What does PB and TC mean?
Happy pipping,
Fx Diva
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DislikedPeople, wha do you think the chances are off gbpjpy comfortably breaching S1 and making it to level S2 ?Ignored
DislikedWhat makes you say that? Are you getting that interpretation from the 5min?
Just trying to learn . . .
Happy pipping,Ignored
Disliked50% at R2 and remaining put a trailing stop and take it out if it reaches R1Ignored
Dislikedfrom the 5 and 15 min...it may go to test daily pivot or close to itIgnored
Dislikedif I don't remember wrong, you suggest to use 15pips trailing stop, correct?
(Actually, I always feel trailing stop is not a good choice, because my friend and I do lost a lot of profit by using T.S)Ignored
DislikedI thought maybe today it maybe only decided to test 61.8 and then come back down.
I notice Lag2 started to move towards 1 made it to about .84 and then started back down. Does this iindicate that price action should start moving down again? That's where I start getting confused with the system.
Thank you,Ignored
DislikedHi Ninja,
Yet another great chart, but What does PB and TC mean?
Happy pipping,Ignored
DislikedHi Ninja,
Yet another great chart, but What does PB and TC mean?
Happy pipping,Ignored
Dislikedanything can happen, just stick to what the charts are showing at that time, currency movements specially in g/jpy are fast and unpredictable, but the lags are showing good co-ordination and i would watch the lag2 in 1min to 15 min time frameIgnored
Dislikedfxdiva
RB is Round Bottom
TC is Trend Continuation
From the Phillip Nel 4 hr MACD Thread also on FF
http://www.forexfactory.com/showthread.php?t=14630
WayneIgnored
DislikedHi Diva,
I believe Ninja is reffering to PB as being Pull Back and TC as Trend Continuation. You can see on his chart the red lag[2] is working it's way up and where the blue lag[1] is coming down, that's where price had retraced a bit but the red is telling us that the up movement will most likely resume it's path. ....T-WolfIgnored
DislikedWell, I really just don't know what happened to this trade. I thought it was a beauty!
Reasons for shorting: 1) Lag 1 gave short signal & both Lags were at the top
2) Price was staying below Pivot level and 200ema
3) 60ema was below 200ema for downtrend/short setup
Any ideas???Ignored