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Auslanco - GBP/JPY and GBP/USD (newstrade)

  • #2,821
  • Aug 1, 2007 11:39am Aug 1, 2007 11:39am
Quoting I.Y.I
Karmostaji,

do u think is better to go short at 240.50 if breaks the support on 240.70 again?

Thank u
I would wait until we have good confirmation on 4hr chart
Trade what you see, not what you think.
  • #2,822
  • Aug 1, 2007 11:40am Aug 1, 2007 11:40am
Quoting Rustyyy
Looks to be ranging, following US stock market.

Appears to be pin bar forming on daily though.

Maybe one of the more experienced traders can comment on the pin bar formation ?
I've been keeping an eye on the daily pin-bar we are forming, if the day ends with a pin-bar, it's a sign of upward movement
Trade what you see, not what you think.
  • #2,823
  • Aug 1, 2007 11:44am Aug 1, 2007 11:44am
It's coming down, good job. folks.
  • #2,824
  • Aug 1, 2007 11:44am Aug 1, 2007 11:44am
Sorry,but what is "pin-bar"???
  • #2,825
  • Aug 1, 2007 11:46am Aug 1, 2007 11:46am
Quoting I.Y.I
Sorry,but what is "pin-bar"???
No more pin-bar.
  • #2,826
  • Aug 1, 2007 11:51am Aug 1, 2007 11:51am
Quoting karmostaji
I've been keeping an eye on the daily pin-bar we are forming, if the day ends with a pin-bar, it's a sign of upward movement
yes.. and here is another reason... Daily rope... if you follow Spudfyre threads theory... you have to know this chart is a very very strong reason to go long... a few daily ropes as this one are in a year... last one was 06 march.
Attached Image (click to enlarge)
Click to Enlarge Name: rope.jpg Size: 50 KB
  • #2,827
  • Aug 1, 2007 11:52am Aug 1, 2007 11:52am
Quoting I.Y.I
Sorry,but what is "pin-bar"???
http://www.candlesticker.com/Cs18.asp

Here's a thread all about Candlestick formations http://www.forexfactory.com/showthread.php?t=30202
Trade what you see, not what you think.
  • #2,828
  • Aug 1, 2007 11:56am Aug 1, 2007 11:56am

try this...

Attached File(s)
File Type: zip pinochio bar.zip   262 KB | 559 downloads
"Analysis Is Hard But Trade Is Easy"
  • #2,829
  • Aug 1, 2007 11:58am Aug 1, 2007 11:58am
Quoting emda
yes.. and here is another reason... Daily rope... if you follow Spudfyre threads theory... you have to know this chart is a very very strong reason to go long... a few daily ropes as this one are in a year... last one was 06 march.
Did this chart say when to go long?
  • #2,830
  • Aug 1, 2007 11:58am Aug 1, 2007 11:58am
Quoting auslanco
I will show you a method to stay away from bad calls most of the time..after a big trending spike... price always retrace back to 5 SMA of any time frame. 5 SMA is the true price. Lots of people gets confused when the price retrace back to 5 SMA thinking the trend is going on opposite direction. But it's just a retracement where actulay is the true price stands.After it retraced back to 5 SMA it will start going towards the 4hr trend. this is very important to understand if you trading high volatile pairs like GBP/JPY.
It works beautifully.
  • #2,831
  • Aug 1, 2007 12:06pm Aug 1, 2007 12:06pm
Quoting trader8686
Did this chart say when to go long?
when green line crosses 23.6.. but it is already very close to it... after open of next day bar it will be higher than 23.6.. and this day is going to close in a few hours... just keep watching lower time frames for a better enry if you want.. having in mind that you have to go long at sydney open. or tokyo...
  • #2,832
  • Aug 1, 2007 12:07pm Aug 1, 2007 12:07pm
i certainly fall into that category of trying to trade without learning how to trade . it was realy scary for me as i ost all my money in less than a week . i guess for me experience will be the best teacher .
Quoting Rustyyy
Hello Auslanco
Good that you started your own thread.
I am now studying all the charts and posts from last week.
Trying to learn how you spotted the sharp downturn in GBP/JPY.

Your efforts are definetely appreciated. Just wish the "newbies" would
do the homework and learn how to trade effectively instead of trying to trade without learning how to trade.

Looking forward to learning more from you.

Thanks again
  • #2,833
  • Aug 1, 2007 12:15pm Aug 1, 2007 12:15pm
emda,

Isn't Spud's Thread Method fascinating. It's been especially evident these last few days. By the way, is that your new Elasticity Indicator? Have a great day!
  • #2,834
  • Aug 1, 2007 12:18pm Aug 1, 2007 12:18pm
Quoting Rialto
emda,

Isn't Spud's Thread Method fascinating. It's been especially evident these last few days. By the way, is that your new Elasticity Indicator? Have a great day!
yes it is
but this is auslanco's thread... not the threads thread... heh
if someone is interested in it .. go to http://www.forexfactory.com/showthread.php?t=37111
  • #2,835
  • Aug 1, 2007 12:20pm Aug 1, 2007 12:20pm
Thank u guys for the information.
  • #2,836
  • Aug 1, 2007 12:34pm Aug 1, 2007 12:34pm
WHATTTTTT ****** was this ?
this is the tick chart... 70 pips in a few ticks...
anyone had this spike ?

maybe a stop hunter? if so... another reason to go long...
Attached Image
  • #2,837
  • Aug 1, 2007 12:35pm Aug 1, 2007 12:35pm

wow...suddenly i see 50 pips spike and back to the right it used to be...
is that brokerage things? or my computerline are lagging? or is it showing it gonna go deeper?

"Analysis Is Hard But Trade Is Easy"
  • #2,838
  • Aug 1, 2007 12:35pm Aug 1, 2007 12:35pm
Quoting emda
WHATTTTTT ****** was this ?
this is the tick chart... 70 pips in a few ticks...
anyone had this spike ?
Yea...what the heck was that about ????
  • #2,839
  • Aug 1, 2007 12:35pm Aug 1, 2007 12:35pm
Quoting emda
when green line crosses 23.6.. but it is already very close to it... after open of next day bar it will be higher than 23.6.. and this day is going to close in a few hours... just keep watching lower time frames for a better enry if you want.. having in mind that you have to go long at sydney open. or tokyo...
I don't see any green line on the picture.
How acurate this thing is?
I mean, what if after I long the market still drop.
I have a long-term trader told me, this week is still a bear week.
  • #2,840
  • Aug 1, 2007 12:37pm Aug 1, 2007 12:37pm
Quoting trader8686
I don't see any green line on the picture.
hard to see because all are in the rope.... it's between blue and red ones... read threads theory thread...
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