You’re retiring from the big bank? Congrats on a long fruitful career! Send me a souvenir from the south of France. Maybe a postcard or something? I’m from the south U.S… not quite the same lol
you will still hang around here and keep in touch wont you?
1.6712 to 1.6677 taken, that was upper 20:2 to lower 20:1 on the 5min chart, also the middle bollinger of the 1hr chart and 2 x15min wicks. Wishing I’d held on for a few more pips to the lower 20:2 at 1.6655ish.
For those long timers out there 
What is December like to trade? You hear varying opinions from traders saying it’s not worth it, people don’t trade in December they just play video games, market is set free by the banks for the retail crowd to go nuts, etc. etc. If it was anything like my August’s trading, then I may just go skiing for the whole month 
Yeah. It was a windfall. I have been practising multiple lots on demo account for some times now.Yesterday happened to be the day i went on live to execute it.I was just luck because after after i entered the trade and i make 20pips,i manually adjusted my stop and i was just reading an article in the New York Times and just remembered that i needed to check my open positions in forex.To my surprise,the pips had gone from 20 to 90.Incredible,I quickly closed my trades within a second.
In any event,I cant really explain what causeed this.It is beyond my understand because i still count myself as newbie on forex(Dont be fooled with the SENIOR MEMBER tag).
John.
I see. United States Vs Rest of the world.
We are unique,creative,and innovative.And we welcome anyone to come to States because United States is the home of immigrant.No other country speaks or writes like that other than my country.
God bless America.
John.
TalonD,
Sound like you took words from my mouth.
you sure are 
If GU doesn’t respect 5m,15m,1h magical 63sma I don’t trade GU. Too much potential for nasty surprises. I wait for another day until magical 63sma is respected again. 
Apart from the large drop at 0500, it looks like it’s bouncing off that MA.
70EMA looks a good fit for the last 3 swing lows on GU 1hr.
Fairly flat day, good for 5min bounces following the tunnel though I agree the outlook for GU is a bit iffy.
Oil had a good 1hr double wick as well but didn’t trade that.
Cas - apologize in advance for the newbie question…but your 63 is smoothed moving average correct?. In addition, I am assuming that you are looking for it to bounce off of this indicator, or at least use it as a resistance point?
it looks to me like price is hanging around pretty close to 63sma. It doesn’t look like it’s making very big moves away from the MA or am I misinterpreting?
Sikday, we posted at the same time. looks like we’re both confused by the 63ma
Yes, that is correct.
63sma acts as a price line that is respected by PA once the direction of price is established.
For instance the 1h 63sma will give [B]ultra long direction[/B] of PA. So PA is above 63sma there is a high probability that PA will go up for an extended period of time. Reverse if PA is below 63sma.
@present…well, all day really…PA is crossing 63sma backwards and forwards on 5m,15m & 1h. Therefore there is no clear direction of PA. Even Bolli Bounces have added risk because PA does not respect 63sma.
In addition, I am assuming that you are looking for it to bounce off of this indicator, or at least use it as a resistance point?
Yes, I am looking @63sma as an extra S&R depending where PA decides to go and also I am looking @63sma to give a clear direction of price. Because once the direction of price is established 63sma does not get crossed by PA because it acts as true and repected price line again.
Since I have traded this system I have had one instance where 63sma was not respected while direction of price was clearly established. And it wasn’t with GU…it was with Crude Oil.
ah now I get it. For price to have a clear direction and bounce around the 63 at the same time then in would have to have been trending for a long time. But normally when it’s bouncing back and forth then it doesn’t have a clear direction since that’s an average of the last 63 candles so it shows long term movement. Well… long is a relative term, depends on the time frame. 63 1h candles is a lot longer than 63 1m candles. But it makes sense anyway.
So, Cas, you do add the 63 SMA to all your TF charts?
5m,15,1h,4h TF
GU @present…as I see it…PA is above 63sma on all 4 TF; middle BB’s pointing up except 1h.
PA sit’s between 1.6733 resistance and 1.6737 daily PP. 4h,5:2BB is pointing up.
Price level wise we’re back to same area before PA dropped this morning.
Tightening BB’s would be next I reckon…
Yep been thinking abouit it since August. I mean 30 years of trading…I remember when the cable really was the cable. I figure 50 is a good time to quit… nice round number. I’ll hang around until the Christmas party and thats it for me.
Anyways I’ve long since made my money so whats the point… all the guys I started out with have long since made theirs and gone… I’m the last man standing by more than a decade. Plenty of young turks ready to keep my seat warm… good luck to them. I would rather start the morning looking out over a vineyard with leisurely continental breakfast.
Can’t get rid of me that easily Mike. Of course I’ll still be here. Got my personal account still to trade… the difference is perhaps only a few hours a day and as I will be in the South of France I’ll have an extra hour in bed before London open.
Enjoy that new lifestyle, I know you will ! Sent me a picture!
GU behaves like a “brat”. As soon as it moves…stalls…pullback. Must be all these “damned” news, today.
When using an MA like that, it’s essentially price/curve fitting - you try a range and see what looks best for the last few bounces or what price looks like it’s respecting. Like I said 70EMA has a few points like that going back to October on the 1hr chart but this 63SMA seems to fit the bill on the lower TF charts also. The MA on this scale is just a trend follower (ie which way the order books are skewed) - some traders think price just hits them by coincidence, some follow them to the mark…but they do need recalibrating from time to time same as trendlines.
63sma is another safety belt to eliminate risk. I would never base a trade decision solely on 63sma behaviour.
Bolls 2:1,20:3,20:2,20:1…63sma…regression lines…‘tunnel of 5’ have all their part to play @different scenarios.
PA rules…naked & historical PA that is. The rest are useful add-ons to reduce risk and put the odds in your favor…increasing probability to get out on top of a trade.