Tradinggrouptw
Short

GBPJPY SHORT - T LINE //( ORDER FLOW)

FX:GBPJPY   British Pound/Japanese Yen
530 8 9
Hi all,

Potential trade setting up on GBP/JPY             .
Order flow: GBP -1, JPY +5.
100% re-tracement - Pullback is for selling.

See chart for description.

(Sorry, the chart is using a 8 MA, should be 8 EMA ).

Learn more about the T-Line here: https://www.youtube.com/watch?v=DAv4lj-TA4Q


http://www.tradingwhales.com
Nice one Carl!

I like the 5 and 10 period WMA/TMAs, but 8 EMA is very good too. (8/20 emas)

Great video ;)
Reply
Tradinggrouptw IvanLabrie
thanks bro :)
Reply
Hi Carl, sorry to come in so late but I have to say, this is a very good trade. I'm not sure how you have used the ema 8 in this instance. Price above the ema would suggest bullish momentum. Did you short on the bearish break of the t-line or before? I'm not entirely sure of your reason for the short.
Reply
Tradinggrouptw DerekUweri71
Hi Derek,
The reason for the short was the order flow, and the 100% re-tracement (whatever the buyers did, the sellers took back = sellers are in control) and broke the T line for a perfect short entry at pullback.
Reply
DerekUweri71 Tradinggrouptw
Carl, Thanks. I fully understand. I presume you trade using a futures platform where you can get information regarding order flows? I don't seem to be able to get any information on order flows on MT4,
Reply
Tradinggrouptw DerekUweri71
I use MT4 as well, please have a look at this previous post to learn more :)
HOW TO DETERMINE THE STRENGTH OF A CURRENCY
Reply
DerekUweri71 Tradinggrouptw
Carl, Thanks for the link, I'm still looking through. I didn't know you had posted so much material. Thanks again.
Reply
Tradinggrouptw DerekUweri71
yw :)
Reply
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