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  • #81
  • Aug 17, 2009 8:15pm Aug 17, 2009 8:15pm
Quoting forexlion
Good morning guys, time to plan a fresh day

well 3rd friday of each month is options expiry, not a big deal, just a few whips

so what are we in for today ?

1 hour wants to retrace, 4 hour is down

so i guess we test 4 hour tema first, if break then 156.30 test
a typical repeat of june 22 pattern on daily charts

down then pump it up then down again
  • #82
  • Aug 17, 2009 8:21pm Aug 17, 2009 8:21pm
the max up for today would be 156.80 or something just close to last week close of 157, then a bounce back down

this snould clear out the longs taken yesterday and prepare me for fresh shorts, depending on 1 hour charts.
Attached Image (click to enlarge)
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  • #83
  • Aug 17, 2009 8:28pm Aug 17, 2009 8:28pm
we went down, bounced off the 38.2 level, now destined for last week's low

now depending on what kind of resistance we get there, plans my next course of action.

since i have exceeded the max number of open trades at a time, i will just wait for the current ones to close out first.

the red line is tema, i discarded xpma as useless
Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 14 KB
  • #84
  • Aug 17, 2009 9:54pm Aug 17, 2009 9:54pm
The hanging man on the 15minute chart plus price hitting the 161.8 fib extension level clearly confirms that the next 6-10 hours would be basically down. My stochastics still shows the possibility of a further upmove to 157.00 if and only if the 2 day SMA line (which coincides with the fib 100% level) is broken to the upside.
An inside bar just formed on the 30 minute chart and its low has been exceeded thus confirming the downmove. The economic news report on the cable would finally tell where price should be headed for the latter part of this day.
For now, I'm short and already in profit.
Happy trading.
  • #85
  • Aug 18, 2009 12:09am Aug 18, 2009 12:09am
Quoting forexlion
post # 37 of this thread
  • #86
  • Aug 18, 2009 12:30am Aug 18, 2009 12:30am
Lion, the tema indicator you posted is not loading right on MT4... full of errors and crashes MT4. Is that the current working one?
Dr. C
  • #87
  • Aug 18, 2009 1:41am Aug 18, 2009 1:41am
Quoting cvcamper
Lion, the tema indicator you posted is not loading right on MT4... full of errors and crashes MT4. Is that the current working one?
It loaded like a charm on my MT4 platforms. Maybe you should check that you have the latest build installed, the current version of MT4 is build 225. I tried the indicator down to build 223 without any problems.
  • #88
  • Aug 18, 2009 1:44am Aug 18, 2009 1:44am
time to divorce my longs approaching, 2 days is too long for a forex marriage
Attached Image (click to enlarge)
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  • #89
  • Aug 18, 2009 2:28am Aug 18, 2009 2:28am
a trend is best entered at the beginning or near the support/resistance lines, not in between, so when 1 hour turns down, if it does turn down, then i will decide the next trade, so i have the safety of the SR level behind me.
  • #90
  • Aug 18, 2009 2:30am Aug 18, 2009 2:30am
Quoting forexlion
time to divorce my longs approaching, 2 days is too long for a forex marriage
i cut them both at 156, in green

it was a mistake to enter against the 1 hour trend yesterday, well thats part of the game.
  • #91
  • Aug 18, 2009 2:39am Aug 18, 2009 2:39am
GJ can go up to 156.30 ?
High risk High return!
  • #92
  • Aug 18, 2009 2:47am Aug 18, 2009 2:47am
15 min macd looks like ......., oh well i need to concentrate

going by 1 hour and further 4 hour it seems we might be aiming for the DAY TEMA for a possible entry level for a downtrend again.

should be a repeat pattern of 13 august on 4 hour, cause daily is still strongly down.
Attached Image(s) (click to enlarge)
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  • #93
  • Aug 18, 2009 2:49am Aug 18, 2009 2:49am
Quoting simao
GJ can go up to 156.30 ?
GJ might even try DAY TEMA @ 157.87 approx, entirely depending on 1 hour charts.

but going by 5 and 15 min it seems we need a small dump first.
  • #94
  • Aug 18, 2009 3:35am Aug 18, 2009 3:35am
thnx forexlion
the GJ up to 156.50 after the positif GBP news, that's a best trade

simao
High risk High return!
  • #95
  • Aug 18, 2009 6:05am Aug 18, 2009 6:05am
if you are still long, i would place an SL @ 156.30 , cause below this we have 154.66 a long long way down.

and if 157 does not break, then GJ might be considering a drop sometime during or before Tokyo
  • #96
  • Aug 18, 2009 7:01am Aug 18, 2009 7:01am
1 hour increasingly turning bearish, but not ripe as yet

the wait is getting longer
  • #97
  • Aug 18, 2009 7:13am Aug 18, 2009 7:13am
Quoting forexlion
GJ might even try DAY TEMA @ 157.87 approx, entirely depending on 1 hour charts.

but going by 5 and 15 min it seems we need a small dump first.
okay here is a clearer picture

with 1 hour tema supporting, GJ should attempt the resistance at DAY TEMA

but this requires 157 to break first and 156.30 to continue to hold as support.
Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 16 KB
  • #98
  • Aug 18, 2009 8:07am Aug 18, 2009 8:07am
hello forexlion and thnx for your hardwork

the GJ break to 155.50 i think he go down to 154.00 soon, what is your idea?
High risk High return!
  • #99
  • Aug 18, 2009 8:26am Aug 18, 2009 8:26am
156.30 did not hold, 1 hour tema gone, macd in line

next support 154.66
  • #100
  • Aug 18, 2009 8:33am Aug 18, 2009 8:33am
Quoting forexlion
156.30 did not hold, 1 hour tema gone, macd in line

next support 154.66
this being the general idea just scalp it on 1 min charts or 5 min
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