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Hey thanks for the info Tiki! This looks to be playing out on the larger scale as well. I am liking the looks of this trade more and more for a few reasons. It complies with every standard for a good trade, secondly (as you said) it looks to be set and ready for a drop on the longer timeframes, and thirdly every chart I've looked at seems to be in compliance at the moment. This could sail a long way or maybe it needs more steam. That seems to be the big debate over in Auslancos thread anyway, and I can see why. Oh and sorry it took so long to write back, I had a hockey game to tend to. They need their MVP ya know lol
I dream, therefore I become.
Ok, based on daily support area, I think this will drop to at least the 230.00 level. Beyond that, Im not sure if it has enough steam to cut through, time will tell. Until then, this is one of my targets.
I dream, therefore I become.
You'll break your knees doing that and then you better be ready to trade for a living !!!

I am careful about auslanco, seems to me that whole thread, though they have finally gotten their act together, is about what is happening right now or in the next few hours... and that is fine ... making a lot of pips in there... as for longer term, even a day or two out... they seem not to be about that. Also theri system seems so complex... I am just not interested in complcated stuff... so I read a lot in there, but don't pay much attention to their system itself...

And GBP/JPY... well you know it is a roller coaster and a fast one at that !!! I am super careful there... great to get lots of pips, sometimes easy ones too... but ever so easy to lose there too...

Quoting mike w
Hey thanks for the info Tiki! This looks to be playing out on the larger scale as well. I am liking the looks of this trade more and more for a few reasons. It complies with every standard for a good trade, secondly (as you said) it looks to be set and ready for a drop on the longer timeframes, and thirdly every chart I've looked at seems to be in compliance at the moment. This could sail a long way or maybe it needs more steam. That seems to be the big debate over in Auslancos thread anyway, and I can see why. Oh and sorry it took so long to write back, I had a hockey game to tend to. They need their MVP ya know lol
Quoting Tiki Trader
You'll break your knees doing that and then you better be ready to trade for a living !!!

I am careful about auslanco, seems to me that whole thread, though they have finally gotten their act together, is about what is happening right now or in the next few hours... and that is fine ... making a lot of pips in there... as for longer term, even a day or two out... they seem not to be about that. Also theri system seems so complex... I am just not interested in complcated stuff... so I read a lot in there, but don't pay much attention to their system itself...

And GBP/JPY... well you know it is a roller coaster and a fast one at that !!! I am super careful there... great to get lots of pips, sometimes easy ones too... but ever so easy to lose there too...
Even if I would break my knees, I'd go back to it lol A bit dumb? Yeah, but I love it haha

I feel the same way as you do about the thread and everything going on over there. It is most definitely a great thread for the short term price movement. There isn't much long term talk, and I kind of understand why. I could play the 5 to 15 minute charts on the GBP/JPY as if they were the hourly charts and so on. This is because the pair moves so quickly, especially compared t some other pairs. I, just like you, am not a fan of the complexity of it all either. It does make A LOT of sense of you understand it, but like I said in an earlier post somewhere, I'll just stick to my guns.
I dream, therefore I become.
Well, I woke up to find my positions all closed, which is a good thing. The first position closed for +100 pips, and the others closed at +50, +20, and +1. Yes, I shouldve moved that last stop loss down to give myself more profit, but greed kicked in. My thought process was like this: If the market comes and takes out my other stops, then this one could potentially still be open and then I could ride it all the way down again if it doesn't hit. Hoping for something doesn't make money. That's a big lesson in this profession. Hope everyone had a good night as well. I'm off until later tonight.
I dream, therefore I become.
Ok, it's Friday and we've had a fairly good week. Only posted a few trades based on the system and with the right usage both turned out excellent, minus the USD/JPY(overall loss with it). Now that the week is ending I will be posting some daily and weekly charts to review and see if there are any potential trades to take on Sunday/Monday. Have a good weekend everyone.
I dream, therefore I become.
What dose this chart make you think ???
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy.gif Size: 11 KB
Hey Tiki, that's a great question. It looks right now as if though we will see more of an upside. This is because its based off of solid support as well. I see the upside as limited however. I truthfully wouldnt take this as a trade just yet though. If you look at the daily situation on the GBP/JPY, it's calling for more downside momentum ( bearish almost pin). I think we will move south first if anything. With that, I would just wait until a better opportunity presents itself to buy throughout the week, such as a clear reversal signal. Thanks for the chart Tiki! That gave me something to think about and now I may have a potential trade in the mix for this week.
I dream, therefore I become.
Sounds great, good luck
Hey thanks silverbackno! Alright for tonite, I saw a clear gap on the Eur/Usd. It looks to still be good for another ten pips. After this I will see what I can as a signal.
I dream, therefore I become.
I'm looking at what could end up as a good setup for the Gbp/Usd. I think we will see another test of the trendline that I've drawn on the 4 hour chart. If we do, it could move lower to test the 'Tunnel'. If it does, I would look to buy there, as this is an area of support. If I see an immediate reversal signal after the test of the trendline drawn, I will put an order in and place the stop below the tunnel area. We are currently around 20 pips to the bottom of the channel ( I didnt post the top of the channel, but will in a moment). After this, as previously mentioned, I will wait for a clear reversal back upwards or wait for a test of the tunnel support area.
Attached Image (click to enlarge)
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I dream, therefore I become.
Well last night went well as I took away 23 plus 30 pips profit playing the gap on the Eur/Usd. I went to sleep and while I was asleep there would have been a prime buying signal. right now I will wait until the 4 hour chart closes to find a solid entry.
I dream, therefore I become.
It didn't really comply with the strategy, but there was a solid buy order on the Eur/Usd on the 4 hour charts. My stop will be below the tunnel area at around 1.4330.
I dream, therefore I become.
I didn't post earlier, but I took a trade on the Eur/Usd earlier today. I took it at 1.4386 and it turned out for a solid profit at +35 pips. It was based on the 1 hour charts and the trigger was when price hit the tunnel area, it bounced back upwards. Price action was an indecisive pin to show the reversal coming about. With that trade, I will also be taking another long position on the Eur/Usd right now. I will enter in at 1.4405 and this trade is based on price bouncing off the support area of the tunnel. I will have my stop loss just below the tunnel and my take profit at 20 pips. It also looks like this will turn out to be a solid trade as the 4 hour chart may be developing into a good PA formation. This convergence on the hourly and 4 hour chart may end up making the pair move higher, but for now I will only take 20 pips. Have a good night everyone.
I dream, therefore I become.
Another trade that has just been posted is on the Usd/Jpy. I took this buy trade as price is sitting on a support level based on previous price and the EMA tunnel. We will be touching into resistance at the 115.15 area and so I will take profit ten pips below that at 115.05. My stop loss is at the bottom of the previous range 50 pips below where I entered, at 114.00. As price moves upward, so will my stoploss.
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I dream, therefore I become.
Last night's Eur/Usd trade closed out at +20 pips, while the USD/JPY trade came within a few pips of the take profit. I still think it will get there, but thinking means nothing; it's what your seeing. I moved the take profit to 115.00 instead of 115.05. We will see if the order comes through or if I will have to close by the upcoming 4 hour close. The bar could close indecisive or bearish and move back down further before hitting support again, and from there I will place a long order.
I dream, therefore I become.
i see ure doing well bro-- keep it up

just passing by and saying hello
Quoting Hakuna Matata
i see ure doing well bro-- keep it up

just passing by and saying hello
Hey, thanks HM! I also read your journal quite a bit, and your a fantastic trader. Everytime I see a post in your journal I look at the charts and try to realize why you've taken the trade and if I would do the same thing. Half the time I wouldn't, which is the difference between a pro(you) and a novice(myself). During the chop, you still know what's going on, whereas I do not. The other half, in which I would, I normally do with great success. So I just wanted to say thanks for contributing, not only to the community, but to my success as well.
I dream, therefore I become.
Here is a trade idea for tonight

Short GBP/JPY to the bottom of the channel I have drawn...
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy.gif Size: 11 KB
Quoting Tiki Trader
Here is a trade idea for tonight

Short GBP/JPY to the bottom of the channel I have drawn...
Hey Tiki, I like your thought process on this trade, but if you'll look to the higher timeframes, we are in an uptrend. Don't go against it. If you would look at that chart and think of what could happen, you will understand what I am about to tell you. Say the price consolidates at this range for a while, at least a few hours. If that were to happen, every time a bar closes your take profit is going to get smaller with it and your stop loss will grow along with the top of the channel. The reason that I like your thoughts on this trade is this; If you wait for it, you will eventually get the signal to buy (along with the trend) and the take profit and stop loss situation will work in your favor. So with a little bit of patience on this, you could have spotted a potential steup, just in the other direction! Thanks for the chart too, I wouldn't have spotted it!
I dream, therefore I become.
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