GBPJPY SHORT - T LINE //( ORDER FLOW) Short

British Pound/Japanese YenFXCM

Description

⋅ Jan 15, 2015 2:03 PM

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: youtube.com/watch?v=DAv4lj-TA4Q

tradingwhales.com

Comments

DerekUweri71

⋅ Jan 21, 2015 10:52 PM

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.

Tradinggrouptw

⋅ Jan 21, 2015 11:01 PM

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.

DerekUweri71

⋅ Jan 22, 2015 11:50 AM

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,

Tradinggrouptw

⋅ Jan 22, 2015 11:55 AM

I use MT4 as well, please have a look at this previous post to learn more :) tradingview.com/v/hbUttzYY/

DerekUweri71

⋅ Jan 22, 2015 7:50 PM

Carl, Thanks for the link, I'm still looking through. I didn't know you had posted so much material. Thanks again.

Tradinggrouptw

⋅ Jan 22, 2015 8:35 PM

yw :)

IvanLabrie

⋅ Jan 16, 2015 3:29 PM

Nice one Carl!

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

Great video ;)

Tradinggrouptw

⋅ Jan 16, 2015 3:41 PM

thanks bro :)