Regarding the 4hr momentum only 14c was pointing down at start of the new bar. After 2 hrs here is the updated pic
1c-Green
10c-blue
14c-brown
1c-Green
10c-blue
14c-brown
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DislikedI was talking about g/u not g/j
But im also long g/j
My a/u long is going fine.Ignored
DislikedHey uncleforex,
is DAX important for us who are trading GJ? I just see that everybody is watching DOW ...Ignored
DislikedHey uncleforex,
is DAX important for us who are trading GJ? I just see that everybody is watching DOW ...Ignored
Dislikedmay i know where do you put your tp for your long AU. I went long from tokyo session and still have the position open. Initially targetting 0.8750 but im not sure at all for now.
Hope you guys dont mind im asking him this little question. Didnt meant to off topicIgnored
DislikedJust a small momentum lesson (from my observations for the last 3 weeks)
Daily,
when the 1c momentum is pointing up(45 degrees or less at the start of the daily bar ) and the daily bar starts above the 5sma close.. it's a guaranteed bullish day. You can just buy at the start of the daily bar and close your position at the end of the daily bar.Ignored
DislikedNikkie, Dax & S&P 500 r the major equity markets that influence the UJ & ultimately GJ...More often than not Dow & S&P move in tandem..Ignored
Dislikedauslanco:
Not sure if this holds true on a day like today with many major
UK/US news releases. I shall research/monitor it for some
time.Ignored
DislikedTodays daily bar opened below the 5sma-low
5sma-low=226.13
Daily open=226.09Ignored
DislikedCould there be a 4hr 5 SMA retrace of GJ after the large fall before another fall?Ignored
Disliked4 hr chart 61.8 of the last move up is at 224.33. It that price is breached it would need to retrace back to around the 61.8 area before shorting.
1 hr chart....obviously we are stuck between 224.42 and 225.13. Buying a bounce off of the lo would be logical and also a break of 225.13 after the break and a retrace for a T1 of 227.44, T2 228.40. Of course I will use Aus system to confirm the trade.Ignored
DislikedDow has breached a major resistance in the last five minutes, so it is very possible for the longs to be in play.
Edit..I think once the u/j breaks the 110.70 area it will bring the g/j with it.Ignored
DislikedPC,
Nice charts and analysis. Very concise and to the point. Very easy for the newest of noobs to follow along and understand. Appreciate your input.
M2BIgnored
DislikedGJ will go up if UJ continues up and GU corrects up a bit.
UJ is facing resistance up above @ 110.60's and 111.20 and GU is now in a down trend with resistance and sellers above @ 2.0450 and 2.0500.
Therefore, there is still room for GJ to move up but it has a lot of "wood to chop" (resistance) to get back above to 226/227 price point but its possible.
One senario that might give it a push is if BOE rate decision is "unchanged". The current price factors in 25-50 bps cut. Therfore an "unchanged" decision is seen by the market as unlikely however anything is possible and the market can turn around in a matter of seconds. Remember this is the Forex market anything can happen on any given day. . .Ignored