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  • #201
  • Feb 8, 2009 6:41am Feb 8, 2009 6:41am
Here is what I am seeing...
If price opens below the m15 TL which is also the 23.6 of fri move then I think we will visit the m15 lower TL at which point I will be looking for a buy. For a buy, I will be watching the m30 cci 30 for a 0 line reject and the rsi 55 or 45 line reject and most likely that will happen around a fib level or the 50 ema. When (if) this occurs....I will look to the h1 chart to make sure the macd does not have any bars down. If it does, it tells me we may be in for a bit deeper pullback and will then begin looking for the buy off the h1 chart using the same scenario as above. If the price opens below the m15 tl on sunday, I will prolly do some short scalping off the m5 chart until the buy surfaces. I hope this chart doesnt take up too much space. If it does, I will break it down. We also have classic bearish div on the h4 and have rejected the daily TL.
Attached Image (click to enlarge)
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  • #202
  • Feb 8, 2009 6:53am Feb 8, 2009 6:53am
We also have bearish classic divergnce on the 1 hr chart on the cci, macd and rsi. Thats why I think if the price opens below that m15 trendline we could sell down to the buy area. We will know more when th mkt opens tonight. Sundays can be difficult but sometime really good.
  • #203
  • Feb 8, 2009 6:54am Feb 8, 2009 6:54am
Quoting PipChick
Here is what I am seeing...
If price opens below the m15 TL ...
Nice approach.
Macd looks ready to cross down, so maybe 2 shrinking downbars could suffice to look long.
Thanks for pointing out breaish div..I hadn't even checked.
  • #204
  • Feb 8, 2009 6:54am Feb 8, 2009 6:54am

Quoting Petefaders
Nice approach.
Macd looks ready to cross down, so maybe 2 shrinking downbars could suffice to look long.
  • #205
  • Feb 8, 2009 7:04am Feb 8, 2009 7:04am
Pipchick, how do you trade?..TF, pip target? I target anywhere from 15-50 pips on g/j and take the occasional medium term trade, if I am confident.
  • #206
  • Feb 8, 2009 7:16am Feb 8, 2009 7:16am
Quoting Petefaders
Pipchick, how do you trade?..TF, pip target? I target anywhere from 15-50 pips on g/j and take the occasional medium term trade, if I am confident.
The m15 tf is my favorite. I drop down to the m5 using the cci and macd for entries. I usually target 30-50 pips per trade. I have used the 50 and 200 EMA's for years. They are most important on the h1 and above tf. My general rule is when the 50 crosses the 200 ema to the upside, it is called a golden cross and my bias is long so I like to buy dips but I will scalp short. When they cross to the downside, it is the cross of death so my bias is short. I really pay attention to this on the h1 and above but it is also relevant on the m15. What you see on my charts I posted is what I use on every chart. (TF)
  • #207
  • Feb 8, 2009 7:27am Feb 8, 2009 7:27am
If you look at the h4 gj chart....last Aug the 50 crossed the 200 to the downside and has not crossed back up since. We had a few instances where it was close to crossing but rejected and sold off. We are now in that same situation....the ema's are close so we need to see whether or not they cross to the upside. I use this same scenario on all TF to give me a direction to trade for that specific tf.
I have used this for about 3 yrs. I read it in the sfo magazine. Everyone should have a subscription to sfo, furures and the commodities magazine. They are all free. This is where you find out how the REAL traders are trading and what they use. sfomag.com.
  • #208
  • Feb 8, 2009 7:42am Feb 8, 2009 7:42am
yes, I see the connection between the 50 and 200, especially on the 15 min!
It shows no losses this year if you traded the 6 crossovers (and mega pips). Simple and accurate. Learn something new everyday.
I already had the 50ema, now the 200ema stays on my chart.
Scalping made me forget about higher emas
  • #209
  • Feb 8, 2009 7:54am Feb 8, 2009 7:54am
Quoting Petefaders
yes, I see the connection between the 50 and 200, especially on the 15 min!
It shows no losses this year if you traded the 6 crossovers (and mega pips). Simple and accurate. Learn something new everyday.
I already had the 50ema, now the 200ema stays on my chart.
Scalping made me forget about higher emas
Correct and that is why I am thinking to short scalp on sunday night (depending) then go for the buy as mentioned above. I have one other little secret too but cant confuse the noobs right now. These are just things I have used for years.
Take a look at the monthly gj. It crossed down in 1981 and hasnt crossed back up since. It came close last janurary but rejected for approximately 10,000 pip sell off. This same scenario happens on all tf.
  • #210
  • Edited 10:42am Feb 8, 2009 7:56am | Edited 10:42am
works just as well on the 1min I see.
now I'm excited. Gives only 2-3 trades a day, but dead on.
I notice also on 1min, that if 50ema comes close to 200ema but doesn't cross, you can enter the trade as it pulls away, yes?

edit:now i see friday closed with a 1min cross down.
  • #211
  • Feb 8, 2009 8:05am Feb 8, 2009 8:05am
Quoting Petefaders
works just as well on the 1min I see.
now I'm exited. Gives only 2-3 trades a day, but dead on.
I notice also on 1min, that if 50ema comes close to 200ema but doesn't cross, you can enter the trade as it pulls away, yes?
Correct but....noobs dont try this on the m1 or m5.lol
now.....to make it even more perfect...use lilmoes (ty so much lilmoe) HD. Look at the m15..see the bull HD? But....this could come down to allow the m30 to form bull HD before the buy is ready. As always, the mkt can switch at any time so you have to be aware and on your toes at all times.(thats why I dont post much during the week. I trade 5 pairs. For the noobs ( dont just take a trade because the set up is there...make sure the mkt is ready for your set up)
  • #212
  • Feb 8, 2009 5:33pm Feb 8, 2009 5:33pm
short g/j at 136.84


Ready to rock,
  • #213
  • Feb 8, 2009 5:40pm Feb 8, 2009 5:40pm
Quoting Petefaders
short g/j at 136.84


Ready to rock,
out +15, just scalping atm
edit: reason was as it approaching the 50% retrace of last move up from 135.70..if g/j is nearing 50% fibb it will probably test it so I scalp when it gets close and pull out when it hits...hey peeps. need more coffee.
  • #214
  • Feb 8, 2009 5:56pm Feb 8, 2009 5:56pm
Quoting Petefaders
out +15, just scalping atm
edit: reason was as it approaching the 50% retrace of last move up from 135.70..if g/j is nearing 50% fibb it will probably test it so I scalp when it gets close and pull out when it hits...hey peeps. need more coffee.
It bounced up and is retesting 50% shall i scalp 8 pips?? lol.
nah, bad r/r. that's what having a good spread will do to me.
  • #215
  • Feb 8, 2009 6:01pm Feb 8, 2009 6:01pm
Quoting Petefaders
It bounced up and is retesting 50% shall i scalp 8 pips?? lol.
nah, bad r/r. that's what having a good spread will do to me.
15 pips is better than - 15 pips..
  • #216
  • Feb 8, 2009 6:12pm Feb 8, 2009 6:12pm
Quoting PipChick
15 pips is better than - 15 pips..
heck yeah, they'll add up..just gotta stick to my sl.
  • #217
  • Feb 8, 2009 6:15pm Feb 8, 2009 6:15pm
buy 136.86, quick scalp. SL 136.68
  • #218
  • Feb 8, 2009 6:19pm Feb 8, 2009 6:19pm
Quoting Petefaders
buy 136.86, quick scalp. SL 136.68
out +5 at fib resistance.


+20 pips for the day, 2 trades so far.
  • #219
  • Feb 8, 2009 6:25pm Feb 8, 2009 6:25pm
I may take a buy scalp at 136.50, maybe.
we are forming a lower tl on 1 min to buy off of, maybe, lol.
  • #220
  • Feb 8, 2009 6:38pm Feb 8, 2009 6:38pm
Quoting Petefaders
I may take a buy scalp at 136.50, maybe.
we are forming a lower tl on 1 min to buy off of, maybe, lol.
nope, it boke lower tl.
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