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Daily/Intraday Momentum Analysis

  • #281
  • Nov 12, 2007 5:07am Nov 12, 2007 5:07am
Quoting anthonykay
hi aus i want to ask u i m using the vt trader charts and im using the qqe alert and the level stop reverse system 02 given by u in other thread but iv noticed that ur adding the multi momentum so i need to change anything coz i was reading the My MT4 indicators for Auslanco's strategy and he changed many things do i have to change anyting in my charts or indicators.
thank u AUS

this is a completely different stratgey . I dont use QQE neither Level stop . please read from the first post.
  • #282
  • Nov 12, 2007 5:21am Nov 12, 2007 5:21am
Ok guys, My TP reached at 227.70. I'm done for the day. This could go further south. but I'll wait for tomorrow's daily momentum for the next trade.
Have a great day guys. see you tomorrow.
  • #283
  • Edited 5:44am Nov 12, 2007 5:42am | Edited 5:44am
Quoting auslanco
StochRSI direction is extremely important to determine the direction of the candle alongside the Momentum. It also gives us a clear indication on OB and OS levels , making it easier to identify the reversals .
Thanks Aus..baby...by the way the pic u posted here did not show?....and what is ur stock setting...i use 8,5,3?.......

Actualy scrap that i just seen it on other post...Thanks
  • #284
  • Nov 12, 2007 7:29am Nov 12, 2007 7:29am
Very low volatility - possibly due to US holiday.
  • #285
  • Edited 4:38pm Nov 12, 2007 4:25pm | Edited 4:38pm
Today could be the "weekend gap cover" day IMO. I went Long a very small lot @ 224.67 targeting 232 area. with a stop loss at 224. Be careful.. you are going against a strong trend.
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  • #286
  • Nov 12, 2007 5:17pm Nov 12, 2007 5:17pm
Hrrm?

So u went for long Aus?
  • #287
  • Nov 12, 2007 6:06pm Nov 12, 2007 6:06pm
This could go down to 222.80.. I exit my Longs at 225.12.
  • #288
  • Nov 12, 2007 6:12pm Nov 12, 2007 6:12pm
Aus 1C and 10C are pointing up but candle opened below 5sma low is this the reason to exit long? thanks
regards
Quoting auslanco
This could go down to 222.80.. I exit my Longs at 225.12.
  • #289
  • Nov 12, 2007 6:21pm Nov 12, 2007 6:21pm
Quoting kenneith
Aus 1C and 10C are pointing up but candle opened below 5sma low is this the reason to exit long? thanks
regards
JP (GDP) came out better than expected. I have no positions open currently
Just playing it safe.
  • #290
  • Nov 12, 2007 6:38pm Nov 12, 2007 6:38pm
thanks bro. UK's house price balance report came out worse than expected and gbp/usd is flying alongwith gbp/jpy and JP's GDP came out stronger than expected and yen is going down on all pairs. strange reaction.
regards
regards
Quoting auslanco
JP (GDP) came out better than expected. I have no positions open currently
Just playing it safe.
  • #291
  • Nov 12, 2007 6:52pm Nov 12, 2007 6:52pm
Hi Aus,

I was expecting with that strong momentum 1C spike and the supporting 14C that we might see the daily 5sma low today ? Are you thinking that the JPY GDP trumps that ?
  • #292
  • Nov 12, 2007 7:06pm Nov 12, 2007 7:06pm
This could go all the way to 232.50 area
  • #293
  • Nov 12, 2007 7:16pm Nov 12, 2007 7:16pm
Quoting auslanco
This could go all the way to 232.50 area
Hey Bro, I have been away for a few days and trying to get back with the charts, good calls on your trading.

The 232.50 would be the 61.8% fibo on the 4HR chart from High 237.96 to Low 224.19, I have seen the 61.8% fibo reached most of the time with a spike towards the 76.4% usually, I am watching for this also, but have no trades open, I may stack shorts if we see these levels reached, which would be a great entry if you get in again around 232.00.

Will be following your thread as the week progresses.

Good Trading to you.

Ken
  • #294
  • Nov 12, 2007 7:22pm Nov 12, 2007 7:22pm
Quoting monarch
Hey Bro, I have been away for a few days and trying to get back with the charts, good calls on your trading.

The 232.50 would be the 61.8% fibo on the 4HR chart from High 237.96 to Low 224.19, I have seen the 61.8% fibo reached most of the time with a spike towards the 76.4% usually, I am watching for this also, but have no trades open, I may stack shorts if we see these levels reached, which would be a great entry if you get in again around 232.00.

Will be following your thread as the week progresses.

Good Trading to you.

Ken
Hi Monarch,
Great to see you again bro. 232 area is a good place go short indeed. Do you think we may go pass 218 on this current Daily TF wave?
  • #295
  • Nov 12, 2007 7:33pm Nov 12, 2007 7:33pm
aus, seems like now we can go for a long..what do you say?
  • #296
  • Nov 12, 2007 7:43pm Nov 12, 2007 7:43pm
Quoting auslanco
Hi Monarch,
Great to see you again bro. 232 area is a good place go short indeed. Do you think we may go pass 218 on this current Daily TF wave?
I really expected a bigger move upwards before this drop down, but the EJ had come up pretty good to test it's double top and the GU finally found strong Historical Monthly Resistance, with GU coming down for it's first breath in a long time, this helped the move down on GJ also.

I have the GU coming down a little further, but there is retracement due, the same with GJ.

I now have a greater feeling the upside of GJ/EJ/UJ is over, and there is going to be a stronger push of BEARS to test their lows from AUGUST.

So Far on the Daily the low support area was 219.30, but I could see this line tested once again, if it breaches, then 217.38 would be my first target on the continuation downward based on the Monthly candle Sep 2006.

If we breach this point we could test the area of 215.90 area based on a few analysis I have done recently on Fib/Supp-Res Averages and also from the low on a few historical candles dating back a while.

Let's watch to see if there is enough bull power to break the low of last weeks candle at 231.07 which is also the 50% retrace exactly. That would also come up to test the Gap areas that were evident from Market open Sunday.

I would not enter any short before this level, but that is my preference of lower risk of drawdown, while a 61.8 retrace is expected.
  • #297
  • Nov 12, 2007 7:51pm Nov 12, 2007 7:51pm
Also on the Daily I have the 5SMA at 231.40.

If you switched your 4HOUR chart to a Line Chart and look at the 22nd of October low area, the line to resist is showing at 231.70, so the 232 area is a tough cookie to crack, but could be possible on a spike which we see often.

I am apt to start shorting in the high 231 area for now, but will monitor the charts closely as this time approaches.

Many may ask if they would long here, only if your planning on a very short term trade based on smaller timeframes.

Based on the 5min, I would have taken a long around 226.25 area 30 minutes ago or so, but I have no trades since the TREND is strong DOWNWARDS.

Ken
  • #298
  • Nov 12, 2007 7:54pm Nov 12, 2007 7:54pm
Quoting Srikanth
aus, seems like now we can go for a long..what do you say?


sorry bro. I went Long already at 226.28 I'm expecting a bounce from 227.50 area. It's good to go long on a retracement.
  • #299
  • Nov 12, 2007 7:59pm Nov 12, 2007 7:59pm
Quoting monarch
Also on the Daily I have the 5SMA at 231.40.

If you switched your 4HOUR chart to a Line Chart and look at the 22nd of October low area, the line to resist is showing at 231.70, so the 232 area is a tough cookie to crack, but could be possible on a spike which we see often.

I am apt to start shorting in the high 231 area for now, but will monitor the charts closely as this time approaches.

Many may ask if they would long here, only if your planning on a very short term trade based on smaller timeframes.

Based on the 5min, I would have taken a long around 226.25 area 30 minutes ago or so, but I have no trades since the TREND is strong DOWNWARDS.

Ken
Bro.. just a small thought.. If the price reach 230+ My 4hr QQE5 will cross upwards, Thats a indication of a short term trend change and That it self could push the price towards 235+ area.
  • #300
  • Nov 12, 2007 8:02pm Nov 12, 2007 8:02pm
Quoting auslanco
I went long from 226.28. Wait for a reatrecment to 30 min

sorry bro. I went Long already at 226.28 I'm expecting a bounce from 227.50 area. It's good to go long on a retracement.
The 227.52 line was the resistance, breached with at 50 pip wick over on the 15min, should see a test of the wick area up to 228 once again here after a small stall while traders pull out long, then once they see long is still in a little upwards, they will go to test the 228.40 area I believe.

There is a retrace on the 15 min to the 5SMA due to around 227, which would also be the test of the resitance level at 227.02 that could become support after the test downwards here.
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