Was that the 4H 200ema we bounced off?

Auslanco - GBP/JPY and GBP/USD (newstrade)

Hi HK. I didn't catch which TF you're talking about . . . maybe I missed it.

Auslanco - GBP/JPY and GBP/USD (newstrade)

Hang in there bro! Learn from your mistakes and you'll do fine. Glad to hear you're smart and using a mini. Wait until you're consistently profitable before you start doing full lots . . . especially with this pair.

Auslanco - GBP/JPY and GBP/USD (newstrade)

I think time answered this question for you. But I will say that 40 pips is usually a pretty good score for the Asian session. If I have 30 - 50 pips bagged and price stalls out, I tend to cash in. Exceptions would be good solid 30min strategy and ...

Auslanco - GBP/JPY and GBP/USD (newstrade)

Heading south with you!

Auslanco - GBP/JPY and GBP/USD (newstrade)

The ultimate in simplicity! Good luck!

Coin Flip with correct Money Management system. Will it profit ?

A little financial news . . . DOW, etc . . . url

Auslanco - GBP/JPY and GBP/USD (newstrade)

Yup ... not an ideal setup. Thanks for the reminder, M2B.

Auslanco - GBP/JPY and GBP/USD (newstrade)

It looks like the 15min chart might be setting up for a long.

Auslanco - GBP/JPY and GBP/USD (newstrade)

239.72

Auslanco - GBP/JPY and GBP/USD (newstrade)

I'd like to hear your fundamental analysis of what caused the drop, if you have an opinion.

Auslanco - GBP/JPY and GBP/USD (newstrade)

It looks like the 15min chart indicators were trying to tell us about this price fall an hour ago.

Auslanco - GBP/JPY and GBP/USD (newstrade)

It doesn't look like there are any major changes for NY pivots. Daily = 239.33 MLR1 = 239.72 R1 = 240.10 MLS1 = 239.05 S1 = 238.77

Auslanco - GBP/JPY and GBP/USD (newstrade)

If anyone feels the need to brush up on how the momentum indicator works, here's a pretty good web page dedicated to it: http://www.actionforex.com/articles_library/technical_analysis_articles/making_the_momentum_indicator_work_for_you_200603316057/ ...

Auslanco - GBP/JPY and GBP/USD (newstrade)

I think I figured out why you're worried about the daily. The momentum is pointing up and price is above the daily 5sma. Therefore we might have a tough time breaking through, because price could bounce off instead. On the other hand, if daily ...

Auslanco - GBP/JPY and GBP/USD (newstrade)

The 4hr momentum is definitely pointing down (as shown), and price is below the 4hr 5sma. Therefore if price rises to the 4hr 5sma, it is sure to "bounce" off and head back down again? It will keep price below 239, at least while momentum is ...

Auslanco - GBP/JPY and GBP/USD (newstrade)

I might be following you now. Is this sudden downturn that we're getting the result of price bouncing off the monthly 5sma, while moving up? And the reason it bounced is because the momentum indicator was pointing down?

Auslanco - GBP/JPY and GBP/USD (newstrade)

Hi Aus. Could you elaborate on how monthly 5sma will push price down? Try as I may, I can't make sense of it. Thanks! Ron

Auslanco - GBP/JPY and GBP/USD (newstrade)

Great looking chart. Good luck with GJ! Ron

Auslanco - GBP/JPY and GBP/USD (newstrade)

The 4 hour QQE is threatening to turn bearish again. If it does and it closes that way, we could have all the QQE's pointing the same direction for the first time in a week.

Auslanco - GBP/JPY and GBP/USD (newstrade)