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Monthly Profit - Daily Trading using SMA

  • #5,401
  • Oct 2, 2016 4:02pm Oct 2, 2016 4:02pm
Quoting yonnie
if anybody wants to sell JPY, I would go with A/J as it is the only one which closed above congestion. also AUD was no 2 in strength last Friday with NZD being the winner. so if I had to buy something, A/J (preferred) or N/J. please give me your opinion.
Regarding AUD/JPY the only positive point I see is that last candlestick closed well above the Bollinger middle band (sma20). However I am reluctant to take it due to the long tails on each CS , it is not as a clean trend as the one between Aug.24 and Sep.5. In addition the price action is quite close from the upper and converging band. NZD/JPY seems to me more obvious except the fact it is not in agreement with the downtrend shown by the BBs.
I used to be indecisive but now I'm not so sure...
  • #5,402
  • Oct 2, 2016 4:07pm Oct 2, 2016 4:07pm
  •  jmmn
  • | Joined Nov 2015 | Status: Learning while making money... | 647 Posts
Important gaps versus the Friday's close
  • #5,403
  • Oct 2, 2016 4:08pm Oct 2, 2016 4:08pm
bought AUD/JPY
good luck everybody
  • #5,404
  • Oct 2, 2016 4:11pm Oct 2, 2016 4:11pm
Quoting yonnie
if anybody wants to sell JPY, I would go with A/J as it is the only one which closed above congestion. also AUD was no 2 in strength last Friday with NZD being the winner. so if I had to buy something, A/J (preferred) or N/J. please give me your opinion.
Here is what my pea-sized brain thinks:-
NZD/JPY = (NZD/USD) * (USD/JPY)
AUD/JPY = (AUD/USD) * (USD/JPY)

Now, USD/JPY is above the River of Rubicon (SMA(5,0)), but both AUD/USD and NZD/USD are on their way to cross the river, I am going to wait for them. I have to wait anyways, because between 5 and 7pm (NY time) the bid/ask spreads are as wide as the Grand Canyon. I will look again after 7pm, after the horses have left the gates, to determine which one to 'bet' on.

Just my $0.02.
  • #5,405
  • Oct 2, 2016 4:20pm Oct 2, 2016 4:20pm
Quoting SnoopyAKQJT
{quote} Here is what my pea-sized brain thinks:- NZD/JPY = (NZD/USD) * (USD/JPY) AUD/JPY = (AUD/USD) * (USD/JPY) Now, USD/JPY is above the River of Rubicon (SMA(5,0)), but both AUD/USD and NZD/USD are on their way to cross the river, I am going to wait for them. I have to wait anyways, because between 5 and 7pm (NY time) the bid/ask spreads are as wide as the Grand Canyon. I will look again after 7pm, after the horses have left the gates, to determine which one to 'bet' on. Just my $0.02.
Yup... you are right ... spreads now is so crazy, i will not be to open any trades now ....
  • #5,406
  • Oct 2, 2016 4:34pm Oct 2, 2016 4:34pm
No trades for me just now.
So many in the Commercial section want to make me rich! :o
  • #5,407
  • Oct 2, 2016 4:46pm Oct 2, 2016 4:46pm
Quoting Filipo1
{quote} Regarding AUD/JPY the only positive point I see is that last candlestick closed well above the Bollinger middle band (sma20). However I am reluctant to take it due to the long tails on each CS , it is not as a clean trend as the one between Aug.24 and Sep.5. In addition the price action is quite close from the upper and converging band. NZD/JPY seems to me more obvious except the fact it is not in agreement with the downtrend shown by the BBs.
agree the chart is a big mess. the only thing is that it closed above all that mess.
so upwards and forward
  • #5,408
  • Oct 2, 2016 5:14pm Oct 2, 2016 5:14pm
AUDNZD looks good but not taking trade, mostly traders ignore this setup so guys I am with you.
I Win, I Lose, It's my Job... And I Love it!
  • #5,409
  • Oct 2, 2016 5:14pm Oct 2, 2016 5:14pm
NZD/JPY a possible set-up. NZD performing well.
However lots of JPY News coming out in a couple of hours.
  • #5,410
  • Oct 2, 2016 5:31pm Oct 2, 2016 5:31pm
No trades for me , still have few from last week - E/A , A/U , G/N , E/G close to SL
Read 1st post , if you don't understand something , then , ask a question
  • #5,411
  • Oct 2, 2016 6:50pm Oct 2, 2016 6:50pm
Quoting Ghibli
No trades for me , still have few from last week - E/A , A/U , G/N , E/G close to SL
Me too aud/usd and eur/aud.
  • #5,412
  • Oct 2, 2016 7:01pm Oct 2, 2016 7:01pm
Quoting umairsheikh2
AUDNZD looks good but not taking trade, mostly traders ignore this setup so guys I am with you.
Hi,

Im still learning this system.
Can you please let us know why we should ignore this setup?

Cheers
  • #5,413
  • Oct 2, 2016 8:22pm Oct 2, 2016 8:22pm
Quoting jarohpips
{quote} Hi, Im still learning this system. Can you please let us know why we should ignore this setup? Cheers
Although A/N closed below the SMA5, as per the system, most traders would ignore this due to the long lower wick. This wick is a sign of upward momentum - the longer the wick, the more the momentum. At present, A/N is heading merrily upwards, cheers M
  • #5,414
  • Oct 2, 2016 10:09pm Oct 2, 2016 10:09pm
Just a reminder,
do not forget that "NON FARM PAYROLL" is coming up and I believe "USD/JPY" is starting to shape up before Friday next week.

I am long at this time.

Look at last months movement on this pair.
  • #5,415
  • Oct 2, 2016 10:27pm Oct 2, 2016 10:27pm
here we have price out off lower BB and we have big candle also big time frame trend up i think good setup for buy here exp

i hope this good setup good luck
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  • #5,416
  • Oct 2, 2016 10:51pm Oct 2, 2016 10:51pm
Quoting yonnie
bought AUD/JPY good luck everybody
Thanks very much yonnie! I was driving all day so did not get chance to participate.
I will add A/J to performance report.
  • #5,417
  • Oct 2, 2016 10:59pm Oct 2, 2016 10:59pm
Quoting Bk8
{quote} Thanks very much yonnie! I was driving all day so did not get chance to participate. I will add A/J to performance report.
Little late but took positions, phone is banned for me if I am out with family
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  • #5,418
  • Oct 2, 2016 11:41pm Oct 2, 2016 11:41pm
Quoting uaehawx
here we have price out off lower BB and we have big candle also big time frame trend up i think good setup for buy here exp i hope this good setup good luck {image} {image}
nice candle with lots of momentum
but: not a lot of headroom with resistance not far away around 1.0960/70
might fly through though.........good luck
  • #5,419
  • Oct 3, 2016 12:27am Oct 3, 2016 12:27am
Quote
nice candle with lots of momentum

Yonnie or any one else... why will the previous candle be defined to have momentum upwards in comparison with its preceding candle downwards?
Does momentum only counts for upwards?

Thanks in advance
  • #5,420
  • Oct 3, 2016 1:13am Oct 3, 2016 1:13am
re A/J,
we have a bank holiday over here for 2/3 of oz and tomorrow we have our monthly cash rate announcement with a view from our newly appointed Reserve Bank Governor who will want to present an independent view from his predecessor. Unless Japan moves tonight, oz fireworks will be more intereesting post 2.30pm tomorrow oz summer time.
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