Have a look at the GBPCAD and GBPAUD on the weekly charts - they are both in a Long Bias. Not saying they won’t work out but just be aware of what’s happening on the higher timeframe.
True. But if I recollect this question was asked on the thread and Philip said that depending on the TF you are looking at, go with what the EMA’s & Stochs show.
So when there’s a conflict, either the H4 will not move as expected (and give a signal in the direction of daily) or vice versa. Either ways, this will be a good real time learning opportunity to deal with opposite signals in different TF’s
Hope this helps in your decision to sell GBP/NZD
Your first trade after the cross would of been your best one…
[QUOTE=“Bucketman;687407”]Have a look at the GBPCAD and GBPAUD on the weekly charts - they are both in a Long Bias. Not saying they won’t work out but just be aware of what’s happening on the higher timeframe.[/QUOTE]
Ya I saw both chart on Daily timeframe got buy signal more than sell signal.
With your experience should I follow the signal on 4H or only enter trade when both timeframe agree with the same direction?
Guys… GBPAUD setting up for a Sell after the first cross. Take a look at the attached chart. There’s also a good confluence with a past support level that was broken.
Weekly candlestick is bearish engulfing (open-close only) and on daily a move back to find support before pushing higher seems logical.
I entered the last friday, I didn’t got that first signal, hum.
Question for Philip:
Regarding my back-testing model that I’m working on, I realize that active positions are closed when there is a Stochastic Cross at the opposite end from the Stochastic Cross entry, assuming that we have not been Stopped out before that time.
What about an EMA cross in the opposite direction that happens PRIOR to being stopped out or the aforementioned opposite Stochastic cross occurs? Does this force us to close out the position OR is it simply ignored? If ignored, and our existing position is closed out subsequently, do we use this prior EMA cross, after the fact, to look for our next potential trade or do we just look for next EMA cross?
Thank you in advance,
Doug
How does everybody feel about NZD/CAD? Any good?
Saw that bearish engulfing bar, it sure looks like its headed for a correction down on weekly hence we saw a signal on to sell on lower TF 4h. But the thing is currently on weekly and daily price is finding support around 20 and 50ema. Maybe its wise to wait for a bearish candle to close below 20ema on 4h chart. What do you think ?
No it forces us to close the position. It is the main exit signal. We do not enter the trade in opposite direction, we move on to another pair. Since you are talking about stocks, I would use the signal for buys only.
I’m sorry I dont understand the question.
[B]GBP/SGD[/B] is looking good for a short soon
[QUOTE=“leonlee0116jl;687291”]Guys I got two question. 1) in this situation, will you guys enter the sell trade? Because the candle already goes above the EMAs which is higher than the crossover place, but still getting the signal from stock to sell, what will you guys do with it? <img src=“301 Moved Permanently”/> 2) this downtrend is still valid to enter the trade? Or wait for a new up trend better? Can I go for sell? <img src=“301 Moved Permanently”/>[/QUOTE]
Some one answer my question please…
Watching the following:
GBPAUD H4: EMA bearish cross. Stochs now in OB levels. Waiting for a bearish candle to short (but 20/50 EMA’s both pointing upwards, so apply caution)
GBPJPY H4: Same as above
AUDNZD H4: EMA bullish cross. Stochs moved down from OB levels. Waiting for Stochs to dip lower to OS levels
GBPUSD H4: EMA bearish cross. Stochs moved up from OS levels. Waiting for Stochs to move higher to OB levels
AUDUSD H4: EMA bearish cross. Stochs in OS levels. Waiting
NZDJPY H4: EMA bearish cross. Stochs in OS levels. Waiting
GBPCAD H4: EMA bearish cross. Stochs in OB levels. Should be ready sometime today?
NZDCAD H4: EMA bearish cross. Stochs in OS levels, waiting to move to OB levels to short
[QUOTE=“jw1981;687555”]Watching the following: GBPAUD H4: EMA bearish cross. Stochs now in OB levels. Waiting for a bearish candle to short (but 20/50 EMA’s both pointing upwards, so apply caution) GBPJPY H4: Same as above AUDNZD H4: EMA bullish cross. Stochs moved down from OB levels. Waiting for Stochs to dip lower to OS levels GBPUSD H4: EMA bearish cross. Stochs moved up from OS levels. Waiting for Stochs to move higher to OB levels AUDUSD H4: EMA bearish cross. Stochs in OS levels. Waiting NZDJPY H4: EMA bearish cross. Stochs in OS levels. Waiting GBPCAD H4: EMA bearish cross. Stochs in OB levels. Should be ready sometime today? <img src=“301 Moved Permanently”/> NZDCAD H4: EMA bearish cross. Stochs in OS levels, waiting to move to OB levels to short[/QUOTE]
GBP/CAD I already go short.
GBP/JPY still a valid signal? I thought the price already crossed the ema so is not valid anymore.
GBPJPY and GBPAUD EMA’s haven’t yet crossed. They are just pointing up. Short position/bias would be invalidated if however the EMA’s make a bullish cross.
GBPCAD: I think you went in early? Stochs still in OB levels. Maybe end of this H4 candle will give the entry.
That would be a disqualified trade as by the time Stochs moved to OS level, EMA’s crossed over. Looks like we ‘could’ have that same scenario in GBPJPY and GBPAUD today (Nothing confirmed yet)
Hmmm how many pips you target for GBPCAD?