another bounce off our support level on GBPJPY , this level is great for scalping

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EURJPY in a channel on hourly chart bounced off support on daily we might get a good opportunity if the channel breaks

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Hi billytt , glad you like it , I have to say there is a lot of intelligent guys contributing here which is of a great help, including you ofcourse lol

Do you believe moving average systems work?

going back to EU There is something special about the 50 SMA and EU on daily chart, if you have a look through history you will see this relationship clearly we can see this time it bounced off the SMA with possible reversal candle Its in uptrend ...

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Copper is looking vulnerable here, it is a short on a break of this support zone, has been tested many times , will see if its still strong enough to hold

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Thanks buddy, there is more to come , everyone contributing here is giving me a great help to analyse and put things into perspective

Do you believe moving average systems work?

missed this trade GBPAUD bounced off the trendline once again

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by the way what you use as your MA is irrelevant ie you can use 30 or 100 MA its the concept not the number , although you might get different results, long term it wont affect the outcome

Do you believe moving average systems work?

this level provided support and valid for long entries on GJ

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I opened a long as planned at 1.3745, SL 150 pips

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Ok guys I concluded our first rule for the MA system We are going to trade the Daily chart with 20 and 50 SMA Entry : when price closes above/below both MAs with a close > open for longs or close< open for shorts. We are not trading the crossover, ...

Do you believe moving average systems work?

Very interesting comments here , thanks what you are touching at is actually very similar to what I am trying to achieve which is something I will share with you once completed

Do you believe moving average systems work?

thanks for you comment, when you say backtested do you mean every cross over was taken around the clock ? because these statistics sounds too good to be true ?

Do you believe moving average systems work?

That's helpful to know, thanks Lirbig although I have to admit I am not a fan of candlestick analysis as I find it very unreliable but worth noting

Do you believe moving average systems work?

That is interesting , you are the first to go short, could you explain to us why would would prefer a short, Thanks

Do you believe moving average systems work?

AUDJPY and NZDJPY both consolidating on support, the problem is the longer they stay there without a considerable bounce the more likely they will break that level so something to watch for next week

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Dax30 broke the support level last week with failed retest however we could see another retest early in the week which we would give us a short opportunity, the reason I say that because FTSE100 still holding support and SP500 still sitting on ...

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the level I mentioned last week didnt hold on GU, in actual fact it was retested with clear rejection , so my bias would be short on this pair

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I will be looking to buy EURCAD next week based on this weekly chart

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Over the years looking at charts I had to convince myself that when price go high , it can move even higher and higher and same when it moves down I struggled with this concept for a while and then I decided to give it a try and see what happens , ...

Do you believe moving average systems work?