DislikedKarmo, Ukdaytrader, I have a question to you guys.
I am learning how to use Gann line, and from your pictures I dont understand how you interpret the price is bearish or bullish? Both of you have the same.
So, what is correct? If the price is above Gann it is bullish and if below it is bearish or vice versa?Ignored
Auslanco - GBP/JPY and GBP/USD (newstrade)
- #198,403
- Sep 17, 2009 4:06am Sep 17, 2009 4:06am
Ok, Thanks
But generally, the price position towards the Gann shows the preferrable price movement, i.e. above the Gann - bullish, below the Gann- bearish?
- #198,406
- Sep 17, 2009 4:11am Sep 17, 2009 4:11am
- Joined May 2009 | Status: User of Geppy patience pills | 7,645 Posts
Don't be a hero. Don't have an ego. Always question yourself
- #198,407
- Edited 4:27am Sep 17, 2009 4:17am | Edited 4:27am
- Joined Oct 2007 | Status: Trader | 5,510 Posts
Would be very careful with longs and here are a couple of reason for my post. . .
1) Price has closed below 1hr gann
2) Price is still trading below daily gann and has not manage to close above daily 5 sma
3) Bearish divergence on 1hr MACD headed lower in the short-term
4) No solid 4hr close above 150/150.50. . .
5) GU needs a solid close above 1.6555 resistance area before more upside in GJ
A better trade IMO is a close above the daily 5 sma for a take profit at the daily gann and weekly pivot. . . Daily 5 sma is now at 150.35 area so a close above 150.50 seems to be a safer trade IMO. . .
152.13 - 151.62. . . Daily gann/Weekly pivot
Also 4hr candle has also opened below 4hr 5 sma
I do believe we will see some correction of this leg dn however we may see a test of 149.30 area perhaps lower before we head back north. . .
This a a safe trade but some may want to be a bit more riskier so trade to taste. .
1) Price has closed below 1hr gann
2) Price is still trading below daily gann and has not manage to close above daily 5 sma
3) Bearish divergence on 1hr MACD headed lower in the short-term
4) No solid 4hr close above 150/150.50. . .
5) GU needs a solid close above 1.6555 resistance area before more upside in GJ
A better trade IMO is a close above the daily 5 sma for a take profit at the daily gann and weekly pivot. . . Daily 5 sma is now at 150.35 area so a close above 150.50 seems to be a safer trade IMO. . .
152.13 - 151.62. . . Daily gann/Weekly pivot
Also 4hr candle has also opened below 4hr 5 sma
I do believe we will see some correction of this leg dn however we may see a test of 149.30 area perhaps lower before we head back north. . .
This a a safe trade but some may want to be a bit more riskier so trade to taste. .
- #198,408
- Sep 17, 2009 4:20am Sep 17, 2009 4:20am
- Joined Nov 2006 | Status: Dubai | 11,493 Posts
Hmmm, i'll have to be very careful here, 'cos you're the man who's taught me most about Gann+QQE trading. I certainly won't disagree there's more downside possible, but charts and PA have looked bullish to me since 148.80.
We'll see....
Trade what you see, not what you think.
- #198,410
- Sep 17, 2009 4:27am Sep 17, 2009 4:27am
- Joined Sep 2006 | Status: Collector | 9,833 Posts
p.s.
welcome back to "BRAINIAC CLUB"
- #198,411
- Sep 17, 2009 4:28am Sep 17, 2009 4:28am
- Joined Oct 2007 | Status: Trader | 5,510 Posts
yup.. YOU ARE THE MAN ...
p.s.
welcome back to "BRAINIAC CLUB"
- #198,413
- Sep 17, 2009 4:37am Sep 17, 2009 4:37am
- | Commercial User | Joined Mar 2009 | 2,480 Posts
Hi Quecee,
Good to see you back!
I check everyday to see if you have posted, long time no see! I like your analysis, I look to see if we are on the same side after trades have been placed, always intresting to read your view.
No doubt you have probably been sitting back enjoying the ride as we fell from 162/3, I jumped out too early on that one mid 155, but back in at 15220.
I see this going to 140 eventually, sound ridiculous ATM, but this PA is certainly feeling like we are suspended in thin air.
If you dont mind me asking, what would be your ultimate target if we break 149?
All the best bro
Good to see you back!
I check everyday to see if you have posted, long time no see! I like your analysis, I look to see if we are on the same side after trades have been placed, always intresting to read your view.
No doubt you have probably been sitting back enjoying the ride as we fell from 162/3, I jumped out too early on that one mid 155, but back in at 15220.
I see this going to 140 eventually, sound ridiculous ATM, but this PA is certainly feeling like we are suspended in thin air.
If you dont mind me asking, what would be your ultimate target if we break 149?
All the best bro
- #198,416
- Sep 17, 2009 4:50am Sep 17, 2009 4:50am
- Joined Oct 2005 | Status: Trader | 3,596 Posts
I can't beleive ppl are still here waiting for a breakout upward when the trend is downward..
Trend is your friend..
Maybe the Unemployment Claims will help out at 8:30am
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- #198,417
- Sep 17, 2009 5:01am Sep 17, 2009 5:01am
- | Commercial User | Joined Mar 2009 | 2,480 Posts
Thanks for the kind words bro. . .
A big picture is always worth a thousand words so here is a treat for you my friend. . . Possible senario but if support is taken then dn we go. . .
Blue dotted line is 4hr gann. . .
I hope support taken out, this PA is starting to feel like watching paint dry lol.
Cheers bro, have a good day
- #198,418
- Sep 17, 2009 5:03am Sep 17, 2009 5:03am
- Joined Oct 2005 | Status: Trader | 3,596 Posts
Higher TF are screaming down.
Many thanks, is what I am seeing too ATM....inverse H and S, was hoping no one else saw it and that it was a figment of my imagination lol. Looks like we are stuck between a rock and a hard place.
I hope support taken out, this PA is starting to feel like watching paint dry lol.
Cheers bro, have a good day
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- #198,419
- Sep 17, 2009 5:09am Sep 17, 2009 5:09am
can I join too
http://cdn.forexfactory.com/attachme...1&d=1253180229
http://cdn.forexfactory.com/attachme...1&d=1253180229 