Long @ 239.15, TP @ 240.19, SL @ 238.45
Risky but worth the shot since price channel line hit
Risky but worth the shot since price channel line hit
Auslanco 15min GBP/JPY startegy 630 replies
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My MT4 indicators for Auslanco's strategy 92 replies
Auslanco 15 minute Strategy Oanda FXManager Updates.. 62 replies
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DislikedMy strategy is a retrace to 240.2-240.4, then a big drop. Now, if I can just get the $2 trillion forex market to play along with my plan.Ignored
DislikedMy strategy is a retrace to 240.2-240.4, then a big drop. Now, if I can just get the $2 trillion forex market to play along with my plan.Ignored
DislikedHow do you get to see the retracement is 240.2-240.4?
(Like to learn from you)
I guess the fibonacci, right?Ignored
DislikedThis is at least the third time I've posted this chart in the last few weeks. Please take note of the correlation between the peaking of RSI over the 70 line and the subsequent falls which took place. (By the way, I'm not here to argue whether or not 70 delineates overboughtness on the RSI. Frankly I don't care if it's considered overbought or not. The point is that once it peaks over 70 a major fall usually occurs). I have also laid down some fibs on this chart which I hadn't done before. A retracement to the 23.6 Fib alone would take it to around 227. The 38.2 Fib would be around 212. The 50 Fib would take it all the way down to 200. Seems impossible, I know, especially with the carry trades, but this beast was trading under 200 less than 2 years ago when I first started live trading the forex. A 50% retacement impossible? The last major retacement from the 1995 to 1998 run up actually surpassed the 61.8 Fib. It took 3 years for it to run up 11,000 pips and only 2 years to run down past the 61.8 level. It's taken 7 years since September of 2000 for it to run up 13,000 pips which has so far peaked at the 251 level. I know the chart is not easily readable but I wanted you to be able to see the falls that took place since 1980. You can pull up your own chart to view some of these points in detail if you're interested.
M2BIgnored
DislikedThis is at least the third time I've posted this chart in the last few weeks. Please take note of the correlation between the peaking of RSI over the 70 line and the subsequent falls which took place. (By the way, I'm not here to argue whether or not 70 delineates overboughtness on the RSI. Frankly I don't care if it's considered overbought or not. The point is that once it peaks over 70 a major fall usually occurs). I have also laid down some fibs on this chart which I hadn't done before. A retracement to the 23.6 Fib alone would take it to around 227. The 38.2 Fib would be around 212. The 50 Fib would take it all the way down to 200. Seems impossible, I know, especially with the carry trades, but this beast was trading under 200 less than 2 years ago when I first started live trading the forex. A 50% retracement impossible? The last major retracement from the 1995 to 1998 run up actually surpassed the 61.8 Fib. It took 3 years for it to run up 11,000 pips and only 2 years to run down past the 61.8 level. It's taken 7 years since September of 2000 for it to run up 13,000 pips which has so far peaked at the 251 level. I know the chart is not easily readable but I wanted you to be able to see the falls that took place since 1980. You can pull up your own chart to view some of these points in detail if you're interested.
M2BIgnored
DislikedPicture make sense, but numbers are not readable.
What is your RSI setting number on this chart?Ignored
DislikedNice, but first we look at 1H + 5 SMA.
Why you look at 4H + 5 SMA?Ignored
DislikedThis is at least the third time I've posted this chart in the last few weeks. Please take note of the correlation between the peaking of RSI over the 70 line and the subsequent falls which took place. (By the way, I'm not here to argue whether or not 70 delineates overboughtness on the RSI. Frankly I don't care if it's considered overbought or not. The point is that once it peaks over 70 a major fall usually occurs). I have also laid down some fibs on this chart which I hadn't done before. A retracement to the 23.6 Fib alone would take it to around 227. The 38.2 Fib would be around 212. The 50 Fib would take it all the way down to 200. Seems impossible, I know, especially with the carry trades, but this beast was trading under 200 less than 2 years ago when I first started live trading the forex. A 50% retracement impossible? The last major retracement from the 1995 to 1998 run up actually surpassed the 61.8 Fib. It took 3 years for it to run up 11,000 pips and only 2 years to run down past the 61.8 level. It's taken 7 years since September of 2000 for it to run up 13,000 pips which has so far peaked at the 251 level. I know the chart is not easily readable but I wanted you to be able to see the falls that took place since 1980. You can pull up your own chart to view some of these points in detail if you're interested.
M2BIgnored
DislikedBecause that wasn't a big enough retracement for me. I told you this was my plan:Ignored