I think he answers this on the last 2 paragraphs.
Thanks for digging that up. That is what I had remembered. If you just take a casual glance at chart history you will see that more likely than not when price goes through the 100sma it takes a pretty clear path to the 200. Not always, but most of the time.
There’s a powerful confluence of the 100 sma, 200 sma and 50 fib acting as support on the audusd now. Very tempted to go long.
Hello David 
I am very impressed by both your thread and your personal history which is also very impresive. Theres something you wrote about your training that I wanted to ask you about. Can you tell me the name of the company that provided it please? It would be nice to know the name of the company as a back up so I could go down to London and do it. I have seen so many training courses and they all look dodgy but obviously the one you used was real. I would be most gratful for your assistance.
with kind regards,
Andrew
Here’s an AUDJPY trade I took on demo a couple hours ago, it’s still open and hanging out around break even right now. Any comments welcome!
AUDJPY H1
I’ve drawn my fibs on the one hour from the high on July 20 to the low on July 25 and have my BB zone between the 38.2 and 50 percent retracement. The 50 fib line is also an area of previous S/R on the H4 chart along with the 100 SMA in the same area. The 38.2 fib is around the same area as previous resistance on the H1 chart. When I saw price move up and reject the 100 SMA within this area, I took a look at the M15 chart:
I saw the divergence here along with a bearish engulfing candle and entered short.
That was 14-15 years ago for a few months in-house while actively trading, wasn’t exactly a highlight or an interesting thing for me. It’s not exactly something that I would prioritize in remembering.
I think I see a divergence of stoch to pricing on E\U.
hi simondav,
its always helpful if you add what t/f you are referring to. even better post a chart. for instance i can see the 100 & 200 converging on the H1 near the f50, but the f50 is a retracement on a downtrend ie it would act as resistance not support. i do know people who use fibs on the back test in other words they would look for a f50 downtrend retracement to act as support after price had already retraced beyond it (as per the audusd chart below) but i have a feeling you might just have thought the f50 is a support level rather than a resistance level which is now a support level (cos it would be wise to add this).hope this isnt too confusing.
posting your chart would have solved all of this confusion (if you cannot post a chart then make sure you include the key details), regardless whether your interpretation was incorrect or correct.
i wish more ppl posted charts on here, not sure why they dont - it would clear a lot of confusion.
happy trading.
Back to the drawing board. I want to know where I went wrong. I thought I had applied the necessary rules. Price had crossed the 100sma and closed above. Price then held above the 38.2. Fib. I went long and price went short. Lol frustrating. Maybe I didn’t do anything wrong just one of those trades. 
So I just went short EURUSD, based on Reuters feed they are saying go LONG.
However price tested the 100SMA, and on 15min I had lower highs and lower lows so jumped in.
I know David subscribes to 50sma as a weak support, I prefer the 80ema which the price did bounce off temporarily and us currently testing again.
Does anyone know where the options for today are on oanda?
The reason I didn’t go long the EURUSD was because the 200sma was so far above the 100sma, I seem to recall that David said [Post is here] that if the 200sma is so far up that the current trend would still prevail, and thus I waited for a short setup.
To quote David:
So as long as any rallies stay under the 200SMA that you chose to sell, then you are in the direction of the bias and trend.
Actually he said it’s a good thing for it to be separated because it just means there’s more pips on the table. Anyhow it didnt work out in this case.
Traderjosh
What did the price print when you went down to the 15min chart?
Did it show a good entry signal?
AUDUSD
Nice convergance of the 100 and 200sma’s on audusd between the 38.2 and 50 fibs, the 100sma will be crossing down through the 200sma.
PA will be below both 100sma and 200sma by the time it reaches 1.02768 at which point I will flip over to 15min chart and look for a short entry trigger.
What does everyone think?
Yes. It showed a railroad track formation on the 38.2 fib
I know David says take the first touch on OF scalp. Does that mean only the first touch of the higher/lower number. Usd/jpy level was 7800-05 it touched 05 but not yet 00 does that mean the fun is over and I missed the trade because I decided it was finally time to take a shower or can I take another scalp at 00. Inquiring minds want to know. Lol
Cheers for your response. I am using the Oanda source, however 95% of the info posted here is also on Oanda. I just assumed that they carbon copied everything from IFR. Else it would cost them money / resources to provide the IFR feed (unless it were algorithmically filtered…). I’ll sign up for IFR and compare them shortly.
Premium vs payout: yeah i mixed them up, apologies.
Thanks for your answer, David.
What started as a quick simple question turned into a convoluted paragraph of questions. I’ll just treat each option as a S/R line on the chart and play it as you taught us to.
The key, I suppose, is in the IFR analyses outside of the bog standard options calendar. I saw the two quotes you mention above, but I didn’t realise the importance of them. I think a week googling all the words i don’t understand in their news reports should give me a good start.
I suppose the key to knowing whether market makers are positive or negative gamma is in the reports too. Hence, an idea of whether to let your trades run or take profits early is hinted at. Thanks for making me aware of this. Is just another thing i was almost wholly ignorant of.
Cheers,
Lyall
I think I missed a post somewhere, at what point do you exit an entry?
Example: I am currently short EURUSD, its pretty sideways hovering around 100sma. Is this a bad sign, even though I entered earlier in the day based on PA on 15min chart etc etc.
What does everyone else do?
I have my current stoploss at 1.21750 which is just above where Reuters is suggesting major short orders at 1.21600-1.21700.
Just curious to see if there was a discussion on exit and wait for new signal?