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-   -   Auslanco - GBP/JPY and GBP/USD (newstrade) (https://www.forexfactory.com/showthread.php?t=40582)

auslanco Aug 29, 2007 4:58pm | Post# 18321

Aus .. will it go higher, what do you think?

Yepp it will reach my 2nd target.. I got my 3rd target for 239.88.. But usually my 3rd targets are crap

charvo Aug 29, 2007 4:59pm | Post# 18322

Momentum indicator is one of the most advanced indicator I have ever seen. Apart from the 2 trades I posted today.. I made over 380 pips today and 185 pips yesterday from scalping trades just by using the momentum indicator combined with 5 min charts. After a month of explaining .. only M2B is the only one who found the trick of the momentum Indicator.. You are correct.. you don't need the momentum indicator to profit from the strategy.. But if you know how to use it you can make three times more profits...But then again.. it took me over 1year to learn how to use it properly..
Thanks a lot, Aussie. Your are the MAN. I know momentum is great. I'm still learning it. Sometimes, something need one to take pains and time to find out. Thank you again. I'm always trying to follow you.

mansaf6 Aug 29, 2007 5:04pm | Post# 18323

Aus,
With no clear retraction in sight any entry point you will like to suggest or should i wait for clear retraction or enter long rightaway ?

Zoran Aug 29, 2007 5:08pm | Post# 18324

bed time passed.. I guess I will have wait till tomorrow night No wonder I cant have a second baby
I've got three of them, all boys (1,3,7), but the next two are easy compared to the first.

my2buoys Aug 29, 2007 5:08pm | Post# 18325

Thank you, M2B. I didn't realise that I may cause confusion to Aussie's strategy to the others. I was trying to discuss my understanding of the momentum problem with AlphaGA.

Ok, That's merely my understanding.

Hey now that it is low volume period right now, and we are not busy trading, would you mind telling us about how to read the momentum? ...since momentum seems not be systematically formulated in the strategy post. And as I said, Aussie's basic system don't need momentum as in his post.

I do remember that Aussie once mentioned 4 hr momentum has more weight than 1hr or 30min's momentum does. (I did go thru the original GBP/JPY post, and this post till page 100 so far).

I can only say, if we are not sure how to combine the momentum reading correctly with Aussie's basic entry/exit signals, we can manage trading without momentum. That's safer for newbies like me especially.

I do appreciate that M2B or anyone who have a sound understanding on how to use momentum with Aussie's system may teach us on the momentum issues like:

read momentum of current bar? or latest completed bar
btw, MT4 design mtm as, "current price*100/price of n days ago %"
VT design mtm as traditional way "current price - price of n days ago".

That's the difference, this difference leads to different numerical reading on the chart. but that doesn't change the fundamental character of the momentum ---- the current momentum pointing changes to the price moves.
They always point the same direction!
Therefore, who can tell me how to trust the current momentum reading? since it may changes to current price moves anytime?

Million thanks for anything insightful to clear these confusions?
Here is a list of all the Posts I have printed out regarding Momentum that I considered vital to understanding Aus's strategy. There is no way it can be explained in one post. Read these and follow along with live price in the days ahead and it will begin to come to you. Posts #41, #121, #9039, #9050, #9056, #9060, #10172, #16402, #16492, #16497. There, I did the hard part. Now all you have to do is look up these numbers in the thread, read them, and print them out for future reference. You're welcome.

M2B

auslanco Aug 29, 2007 5:08pm | Post# 18326

Ok guys here's my 3rd target .. 239.44 (Monthly 5 SMA)

charvo Aug 29, 2007 5:10pm | Post# 18327

I think during the next 4 hours, instead of price moving down to touch the 5SMA on the 1H or 4H charts, we could see the 5SMA catch up to price instead. This is the part of your system that was/is the most difficult for me to grasp because it's not mechanical. It's almost like timing the passing of the baton in a relay race. Anyway, just my take on it, but what do I know? I'm still green when it comes to trading.

M2B
Excellent point, I just realised it ! Thanks M2B.
At some point, some ppl just learns/adapts faster than the others.

charvo Aug 29, 2007 5:13pm | Post# 18328

Read these and follow along with live price in the days ahead and it will begin to come to you. Posts #41, #121, #9039, #9050, #9056, #9060, #10172, #16402, #16492, #16497. There, I did the hard part. Now all you have to do is look up these numbers in the thread, read them, and print them out for future reference. You're welcome.
M2B
You are another MAN! Thanks a lot, M2B. My eyes have been dried like sahara these days reading 1 page by 1 page.

Zoran Aug 29, 2007 5:15pm | Post# 18329

2 Attachment(s)
i don't seem to see that trendline.... anyway hope it breaks it!
lilmoe

These are the DOW battle lines for the bulls and bears. Whichever breaks first wins. Remember to reverse on the throwback to the line. One daily chart and one weekly.

Z
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rabinh Aug 29, 2007 5:19pm | Post# 18330

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Zoran, i want you to take a look at this please... it's very similar to the channel u and i were talking about last time. (4h TF)

the green trendline is somewhat overlapping with the top of the channel. which is also overlapping with another fibo (white color) that i have drawn since it's last downward movement that retraced to more than 100% of it. i think the next target will be 161.8 (breakout) of the white fibo if broken then it will hit the top of the channel. perfect setting don't u think?? since the qqe and momentum are all pointing up at the moment.

next target will be 236.02 i hope (161.8% fib)


Attachment 46256


please give me some feedback.

lilmoe

you can also use the fibo expansion tool for targets
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auslanco Aug 29, 2007 5:19pm | Post# 18331

lilmoe

These are the DOW battle lines for the bulls and bears. Whichever breaks first wins. Remember to reverse on the throwback to the line. One daily chart and one weekly.

Z

bro.. it's much easier to trade DOW with GJ analysis..

Zoran Aug 29, 2007 5:20pm | Post# 18332

Yepp it will reach my 2nd target.. I got my 3rd target for 239.88.. But usually my 3rd targets are crap
Aus, I can tell you now that your third target will not be reached, until a fairly large retrace. In fact, it will probably retest the low first. Breaking through 238.80 is going to take some work as all kinds of things live there. Remember this post.

auslanco Aug 29, 2007 5:25pm | Post# 18333

Aus, I can tell you now that your third target will not be reached, until a fairly large retrace. In fact, it will probably retest the low first. Breaking through 238.80 is going to take some work as all kinds of things live there. Remember this post.

Yehhh.. usually my 3rd targets are crap... But.. I love the challenge

snowman Aug 29, 2007 5:26pm | Post# 18334

re:
 
bro.. it's much easier to trade DOW with GJ analysis..

I just wanted you to know Auslanco that I've been watching you for 6 months now and you are an incredible trader....Good luck in the future my friend......

kenmania Aug 29, 2007 5:26pm | Post# 18335

Hey Zoran,

Which broker gives you Dow charts on MT4, if you don't mind my asking?



lilmoe

These are the DOW battle lines for the bulls and bears. Whichever breaks first wins. Remember to reverse on the throwback to the line. One daily chart and one weekly.

Z

Zoran Aug 29, 2007 5:27pm | Post# 18336

bro.. it's much easier to trade DOW with GJ analysis..
When I learn your strategy, perhaps I had a look today and got my VT looking like yours. Now I need to study it in a bit more detail. Time is precious at the moment but I'm always looking for new (effective) weapons. It's really good to share like this as most good traders that I know are completely anal about their strategy.

asliok Aug 29, 2007 5:28pm | Post# 18337

Hey Zoran,

Which broker gives you Dow charts on MT4, if you don't mind my asking?
You can use northfinance's client for dj chart

kenmania Aug 29, 2007 5:30pm | Post# 18338

You can use northfinance's client for dj chart
Oh, okay. Well I was afraid of that. I've got a demo with them but not my live account. NF doesn't have Dow in their demo.

Thanks.

Zoran Aug 29, 2007 5:31pm | Post# 18339

Hey Zoran,

Which broker gives you Dow charts on MT4, if you don't mind my asking?
I get that from Alpari although they are for normal trading hours. My live broker (CMC markets) provide 24 hour charts so I get after market trading.

ssotiro Aug 29, 2007 5:32pm | Post# 18340

1 Attachment(s)
Yehhh.. usually my 3rd targets are crap... But.. I love the challenge
This comes very close to the projected profit of the 1H trendline break at 239.34.

Should be fun to watch. I'm out of this one though.
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