Yeah the 12/26/9 defaults are what I use. So if all four (daily EMA and MACD & weekly EMA and MACD) say the trend is down, that's what it is until one of those four criteria disagree. Typically it's going to be the daily MACD that turns first. When you have a period where the four items disagree, then it's time to start a range-trading strategy. When all four items agree the market conditions are good for trend trading.

When you do range-trading, which one of the indicators do you use? Do you use RSI and MACD?
Thanks

Justy, I have really enjoyed your lessons with Paul and just wanted you to know that they are appreciated by others on this board. I know how time consuming it can be to teach others but if you could share with us your range-trading strategy I, for one, would be very thankful. I have tested your trend trading strategy and have found it to be more reliable than my own so I am curious about your range-trading strategy.

Sorry, I am not a socialist. I don't want YOUR hard earned money. I don't want YOUR hard earned DEBT EITHER.

What you have completely failed to grasp is, the government isn't protecting homeowners. Government's job, if at all, would be to protect the citizens and by extension the homeowners.

The losers are

-taxpayers
-homeowners
-shareholders

The winners are

-banks
-bondholders

That seems like a lousy deal to me where majority loses and a few rich ones win. Now explain THAT if you have any valid point to argue with. No amount of "if that were to happen, this were to happen" fictional reasons. Come down to real world. See who wins, who loses. You erase the shares of Fannae Mae and Freddie Mac you destroy investor confidence, and unlike your claim about 'giving confidence to the market' it has the exact opposite effect.

I have made my points clear. This will be my last post on that topic in this thread.

I called for the fall of GBPJPY to 180s only a month ago. That was based on the fundamentals that existed back then, with a strong Japanese economy and weak UK economy. I believe GBP has corrected itself for the medium term and is likely to hover around 1.7-1.8 range for another year. Meanwhile JPY is likely to WEAKEN substantially in the coming months. The collapse of commodity prices and a recovery of carry trade will send JPY back to 1.25 in a few months. Any debate about rate hike in japan will evaporate with falling price index. Rates in UK/EU are expected to remain roughly where they are for another two years. Therefore I expect GBPJPY to return to 240+ within a year and perhaps sooner than later. Accordingly all my trades will be on the "Buy" side.

Paul,

I just sent you a PM. Good luck!

Business only? ----> Wheres the fun in that...A few of us try and liven up this forum sometimes...If you cant have fun whilst trading you will go insane.

How is it personally isulting...I was mearly making a comment to Pauls lack of common decency to heed peoples advice of seeking help. I have every right to post seen as though i was one of many that tried and still try to help...

You can read into the picture all you like but the fact remains Paul will fail at trading if he continues as he has been doing. If hard hitting material is what it takes then so be it. The forum is here to help people, but if they dont want to help themselves then it is a wasted endeavor...

Reporting billions in Loss, Lehman brothers jumped queue and got ahead in the queue for a federal bail out. "The sky is falling! Bail them out now!" Bail every failing big company! The stupid taxpayers are already deep in debt for four generations, so who cares if it becomes eleven?

Weird that the people who had invested in the Lehman scam lost their money and now have to pay increased taxes to bail out Lehman(if there is a bailout)..

And the people who were paid big money to help others will get a nice fat severance cheque for arranging the bailout.. as in the case of Freddie/Fanny.....

More disconcerting is the fact that the people running for public office in both US and Canada somehow seem to be ignoring the fundamental problems of excess government spending and national debt.

The interest payments on the US debt exceed the costs of the war....

So far no mention of reduction in government spending......... I feel that trouble may be ahead...... as if there is not enough already.!

The GBP/JPY is the most difficult pair to range trade. Thus, range trading is best used on currency pairs that are not so volitale. I have been working on a system to range trade this pair for more than three years. Still fine tuning the system.

I have been keeping track of the daily lows and highs for the pair. I input the data into a statistical package and calculate the mean and median daily range. Then look at whether the price is at the top of a range or at the bottom of the daily range and trade from there.

Back in April the GBP/JPY was range trading fairly well. The circles on the graph are the price at the NY close(5pm EST). April 18 saw a large move upward to 209.059 but closed around 207; then, on Monday folks took profit and the NY close was to around 204. On Tuesday, a nice 200 pip range began for the middle of the week. On Friday, the price moved back up again. Carefully studing the daily ranges and using other technical indicators on live charts one can find places to range trade this pair.

The problem is: this pair can move the other way in a hurry. Always set a stop loss on every trade immediately after placing it. As I have said earlier, my risk to reward ratio for this pair is -66pips:+122 pips. If my trade goes south for 66 pips, then it is closed. I take my losses and re-assess.

There are no easy answers to sorting out the price movement of Forex trading.

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Since it came down to my expectation I am confident that it will return back to at least 190 soon. It will range trade in 180s to 190s for a while until carry trade returns and sends it past 220 (perhaps in november/december).

I think it to be a good thing to have other pairs to watch at this time as this seems to be a bit of a puzzle.....

Triple Bottom on 240 minute chart....

If it breaks lower here, we could be in for another long ride south.......

or, as DollarBull says, we could be consolidating for an up move

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At this point, this is uncharted territory, you have to go back to Dec 2003 to see these lows, it is anybodies guess where she goes from here, no one knows....although 186 seems to be holding for the moment.

sorta like a nail biter..........!!!!!!!!!!!!