I'm thinking an EARLY indication for a long would be a close above the daily 5SMA (234.80) in an hour. if it drops below that by then, and opens below the 4h 5SMA at 1600EST , a short is in the cards. EDIT: i mean 232.80 (daily 5SMA)

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

Now we wait for a clear signal....this beast is still ranging...no clear signal until it breaks its weekly 5SMA to go long....and no clear signal until the 4H opens below the 5SMA and a fresh cross to go short. In the meantime....recharge your own ...

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

please tell the rest of us.......how do we read the momentum indicator, so we may learn to trade more effectively? unless i missed it on a previous post?

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

Karm, how do you set the fib levels on the VT charts (like the one you showed)?

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

thanks for the visual Karm I will do the same to my 4H TF...

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

Are you referring to a trend line support (231.70) or a Fib level?

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

Karmo, Aus... other than the trendline on the 1H being broken, what other indicators gave you guys a strong buy signal. ? Thanks

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

trying to understand the reasoning.....the Week TF is very bearish...the day seems like it may be turning bullish, depending on where it closes by tomorrow. and the 4H is undecided at the moment...sitting on the 5sma. So, how would a 30 cross up ...

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

morning Aus, don't you think there's strong resistance at 234.60 (weekly 5sma) to consider a long ?

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

yes, I mean Thursday's candle...as a confirmation for a Aus strategy trade....and yes in the meantime, there should be a window of opportunity for some ranging pips to be made....then again, after the last 2 days.....I should be good for the week. ...

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

Here's my analysis .......for what its worth we just saw it test the weekly 5sma (@234.56) it bounced off it.....now its down to the daily 5sma and testing it as support (@232.65). Now, if this decides to break through the daily 5sma....then, we ...

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

the reason I asked the question was that Aus had his TP set at a weekly 5sma @235.....this didn't agree with my weekly 5sma.

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

I have the weekly 5sma at 234.56....can anyone else confirm this?

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

correction , 1H 5sma line.......... would you stil consider this a good indication for retraco?j and yes i'm using the demo

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

yes

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

Hey Aus, since the 1h opened above the TFT line, would you say its a good indication of a retraco ?

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

your right !, needs to breathe....that was a good 90 pip run ! lets see how much of a retraco it does....30min 5sma sounds good.

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

now its retracing to the 15min 5SMA......taking a breather....and down it goes again.

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

don't worry about the DOW....worry about the support...and it's crushing it like a tomato....wait 6 min....and it'll make some tomato juice.

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

it already did the retracement....to the 1h 5sma...and now its breaking the support ( on its second try ).....lets wait for a confirmation on the 4h and i think it will bust through to the 226 level.

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