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

  • #3,601
  • Aug 5, 2007 7:50am Aug 5, 2007 7:50am
Quoting Que
I'm no expert, but my plan is as follows:

Market Gap Higher then Friday Close: Hold position as market will fill gap.
Market Gap Lower then Friday Close: Close position as it will be the lowest it will go until market fills the gap.
Market has no Gap: I have no clue right now.......
I just have to say this soooo forgive this 1yr rookie?

It would sound to me like "IF" we have no working trade right now it might be a good thing to wait until the gap happens and trade in the direction for it to fill? Or would that be not such a good move?

Welcome back auslo glad you have your health back

Thanks karm as I am learning much from you

Que, now we have you to help teach..cool
  • #3,602
  • Aug 5, 2007 8:02am Aug 5, 2007 8:02am
Now when I am trying to put my on thoughts here on the thread regarding my own "analysis" I see why Asulanco found it so heard to describe he's own strategy.
So after compiling what ever I could from Asulanco strategy, mostly the signals from his indicator settings, and what I could learn the past few days from Karmostaji about fibs and trendlines, here it goes:

Daily
MACD <0; Blue line < Red line < 0 bearish
QQE Green line < Pink line < 0 bearish
Momentum pointing down < 0 bearish
RSI almost oversold bearish
ADX red line > green > line, spread apart => high volatility bearish
A very bearish indicator reading => sell

Regarding the trendlines and fibs
Ascending trendline with 3 intersections and 2 breakouts so it can easily be broke again it offers support at 240.25
Descending trendline 5 intersections and no breakout => very strong my best guess is that the price will go along this trendline it offers resistance at 242.45
Daily Fib 38.2 it offers support at 239.6

H4
MACD close to 0, Blue line down, Red line up almost intersection
QQE Green line up pink line down < 0 almost intersection
After they confirm is a Sell signal for 200 pips.
Stoch RSI oversold maybe a retracement to 5SMA 241.75, it has to be confirmed by Momentum which is at zero line and should go up for a correction.
RSI < 50 but flat again maybe correction, again confirmation.
ADX low volatility signals a break out in either direction correction or sharp descend, only Tokyo will tell
So also a bearish reading but not as strong as on daily.

Trendlines and fibs:
240.78 23.6 fib level on H4 (the weakest fib )
Same trendlines as on daily so the same logic…

H1
MACD < 0 Blue line < Red line = 0 bearish
QQE Green line < Pink line = 0 bearish
Stoch RSI almost 50 and dropping bearish
RSI dropping to 30 line bearish
ADX high volatility, and bearish also

Trendlines and fibs:
Price closed below 241.00 38.2 fib on H1 with a strong bearish candle

As I see it there are 2 possibilities
First scenario
We’ll have a correction to the H1 5SMA 241.65 which is very close to 23.6 fib on H1 241.80, or in the worst case to 242.45 descending trendline on Daily after that drop to :
- 240.78 23.6 H4
- 240.35 50 fib on H1, 240.25 ascending trendline on daily
- 239.70 61.8 fib on H1, 239.6 38.2 daily
Second scenario QQE on H4 green line crosses pink line Momentum on all time frames pointing down well have the drop directly with no retracement.

Sell @ 241.80 TP 240.35 SL 242.45, I am counting on a retracement…

I don’t know if this came out the way I wanted to…, but this is my best at the moment, I am already puzzled by my own analysisJ
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  • #3,603
  • Aug 5, 2007 8:04am Aug 5, 2007 8:04am
GJ is currently about 40 pips below fridays close. I expect it will make further significant swings before we have a chance to trade on it.
  • #3,604
  • Aug 5, 2007 8:13am Aug 5, 2007 8:13am
Quoting markam
GJ is currently about 40 pips below fridays close. I expect it will make further significant swings before we have a chance to trade on it.
This is a really newbie question, but how do you know that, and where can I see this, and what is affecting the price outside the forex hours?
  • #3,605
  • Aug 5, 2007 8:44am Aug 5, 2007 8:44am
you can see it here.

http://money.cnn.com/data/currencies/

It is after-market trading, same as you have in stocks, etc. If you have orders in place, stops set on open orders, etc. they will be implemented just as if the market was open. You just don't have any control over it, so make sure that it is really what you want.
  • #3,606
  • Aug 5, 2007 8:50am Aug 5, 2007 8:50am
Nice quote for the upcoming week. Remember, you cannot just look to graphs and mathmatical models. Sometimes you have to look at the market, the world conditions and think with your gut. My gut is warning me that we are approaching something very big, and very scary.

"Those who wish to render the market rational and susceptible to mathematical quantification misunderstand its true nature. The application of probability, statistical regression, and diversification only gives the sense and appearance of control. Yet in their search for certitude, they reflect a pessimistic confusion about the economic future and its limits. We cannot drive absolute certitude about the market because it has its roots within ourselves. The market is not illogical per se, but its mathematical exactitude is a trap. The market is governed by laws of the mind. Insight, imagination, and faith—and not just economics and rationality—are the sentiment that mobilize the investor to risk his capital. After all the research is done, the wisdom of his actions will not be apparent until well after the investor commits himself to it. An investor must trust his intuition enough to pursue his vision and act upon it. And in doing so, he carries the insecurity that comes from standing alone and not with others. In most cases, a reasoned calculation of gain or loss would impel an individual to the sidelines in search of security. Investors who never act until all the market statistics are available or wait until all speculation becomes fact are doomed to mediocrity by their dependence on an illusory rationality."
  • #3,607
  • Aug 5, 2007 8:52am Aug 5, 2007 8:52am
Quoting ovidiu
This is a really newbie question, but how do you know that, and where can I see this, and what is affecting the price outside the forex hours?
Technically speaking, "The Market" never closes. Brokers are the ones who have open and close times which limits our trading to their time clock.

M2B
  • #3,608
  • Aug 5, 2007 9:07am Aug 5, 2007 9:07am
Quoting ovidiu
Now when I am trying to put my on thoughts here on the thread regarding my own "analysis" I see why Asulanco found it so heard to describe he's own strategy.
So after compiling what ever I could from Asulanco strategy, mostly the signals from his indicator settings, and what I could learn the past few days from Karmostaji about fibs and trendlines, here it goes:

Daily
MACD <0; Blue line < Red line < 0 bearish
QQE Green line < Pink line < 0 bearish
Momentum pointing down < 0 bearish
RSI almost oversold bearish
ADX red line > green > line, spread apart => high volatility bearish
A very bearish indicator reading => sell

Regarding the trendlines and fibs
Ascending trendline with 3 intersections and 2 breakouts so it can easily be broke again it offers support at 240.25
Descending trendline 5 intersections and no breakout => very strong my best guess is that the price will go along this trendline it offers resistance at 242.45
Daily Fib 38.2 it offers support at 239.6

H4
MACD close to 0, Blue line down, Red line up almost intersection
QQE Green line up pink line down < 0 almost intersection
After they confirm is a Sell signal for 200 pips.
Stoch RSI oversold maybe a retracement to 5SMA 241.75, it has to be confirmed by Momentum which is at zero line and should go up for a correction.
RSI < 50 but flat again maybe correction, again confirmation.
ADX low volatility signals a break out in either direction correction or sharp descend, only Tokyo will tell
So also a bearish reading but not as strong as on daily.

Trendlines and fibs:
240.78 23.6 fib level on H4 (the weakest fib )
Same trendlines as on daily so the same logic…

H1
MACD < 0 Blue line < Red line = 0 bearish
QQE Green line < Pink line = 0 bearish
Stoch RSI almost 50 and dropping bearish
RSI dropping to 30 line bearish
ADX high volatility, and bearish also

Trendlines and fibs:
Price closed below 241.00 38.2 fib on H1 with a strong bearish candle

As I see it there are 2 possibilities
First scenario
We’ll have a correction to the H1 5SMA 241.65 which is very close to 23.6 fib on H1 241.80, or in the worst case to 242.45 descending trendline on Daily after that drop to :
-240.78 23.6 H4
-240.35 50 fib on H1, 240.25 ascending trendline on daily
-239.70 61.8 fib on H1, 239.6 38.2 daily
Second scenario QQE on H4 green line crosses pink line Momentum on all time frames pointing down well have the drop directly with no retracement.

Sell @ 241.80 TP 240.35 SL 242.45, I am counting on a retracement…

I don’t know if this came out the way I wanted to…, but this is my best at the moment, I am already puzzled by my own analysisJ
Excellent post ovidiu, your fibo levels and TL's are spot on. don't think too much, trading should be simple and stupid , the more we trade the more we learn.. so keep trading
Trade what you see, not what you think.
  • #3,609
  • Aug 5, 2007 9:46am Aug 5, 2007 9:46am
Hi guys, I have put up a strategy rules on the trading systems section on FF. This is only to cover the essential basics and I will keep updating it as often as I could. This will be most helpful for the traders who are already familliar with Strength indicator . Please visit the new thread @

http://www.forexfactory.com/showthread.php?t=41509
  • #3,610
  • Aug 5, 2007 9:57am Aug 5, 2007 9:57am
Quoting auslanco
Hi guys, I have put up a strategy rules on the trading systems section on FF. This is only to cover the essential basics and I will keep updating it as often as I could. This will be most helpful for the traders who are already familliar with Strength indicator . Please visit the new thread @

http://www.forexfactory.com/showthread.php?t=41509
Exellant Auslanco,

I will have to copy and paste this to my computer so I have it as a referance. (hint..hint to newer traders) I will even save the link to my favorits on my browser for easy access. (another hint ;-) Glad to see you back and feeling better.

kevin
  • #3,611
  • Aug 5, 2007 10:35am Aug 5, 2007 10:35am
Quoting kevinsw
Exellant Auslanco,

I will have to copy and paste this to my computer so I have it as a referance. (hint..hint to newer traders) I will even save the link to my favorits on my browser for easy access. (another hint ;-) Glad to see you back and feeling better.

kevin

Hi Kevin, I'm planning to update that thread with a chart screen shot when ever I find a good trade as well as on ranging markets with a detail description of how I interpret the indicators . That way it's lot easier for me as well as whoever wants to follow the indicator pattern to identify the market behaviors on real life scenarios.
  • #3,612
  • Aug 5, 2007 10:48am Aug 5, 2007 10:48am
Quoting auslanco
Hi Kevin, I'm planning to update that thread with a chart screen shot when ever I find a good trade as well as on ranging markets with a detail description of how I interpret the indicators . That way it's lot easier for me as well as whoever wants to follow the indicator pattern to identify the market behaviors on real life scenarios.
Ahhh, I see...

You now have one thread for posting comments and questions (this one..hint)

And another thread where you post your lessons for lack of a better word, with out all the clutter of posts? (another hint perhaps)

That sounds great, or the best of both worlds if it works out as it should..

Thanks
  • #3,613
  • Aug 5, 2007 10:53am Aug 5, 2007 10:53am
Quoting auslanco
Hi guys, I have put up a strategy rules on the trading systems section on FF. This is only to cover the essential basics and I will keep updating it as often as I could. This will be most helpful for the traders who are already familliar with Strength indicator . Please visit the new thread @

http://www.forexfactory.com/showthread.php?t=41509

Thank u Aus and by the way nice to see u man helth and mood .I've got a few questions.Could u pls tell me how to input that TFT line,because i'm using the VT trader too and don'tknow how to do it?And also i use the RSI with the 50 line in the midle,but its not the same like these u use-the Strenght Indicator,but give us the same signals like the Strenght Indicator right?
Thank u
  • #3,614
  • Aug 5, 2007 11:23am Aug 5, 2007 11:23am
Quoting I.Y.I
Thank u Aus and by the way nice to see u man helth and mood .I've got a few questions.Could u pls tell me how to input that TFT line,because i'm using the VT trader too and don'tknow how to do it?And also i use the RSI with the 50 line in the midle,but its not the same like these u use-the Strenght Indicator,but give us the same signals like the Strenght Indicator right?
Thank u
No RSI doesn't give the same signals as SI, look on the first page of this thread about this topic it's been covered before, it's QQE that gives the same signals
  • #3,615
  • Aug 5, 2007 11:34am Aug 5, 2007 11:34am
Quoting auslanco
Hi guys, I have put up a strategy rules on the trading systems section on FF. This is only to cover the essential basics and I will keep updating it as often as I could. This will be most helpful for the traders who are already familliar with Strength indicator . Please visit the new thread @

http://www.forexfactory.com/showthread.php?t=41509
All of it seems to make perfect sense, especialy after I was trying to use it all of the last week, QQE it realy gives the same signals as SI, only the TFT is somewhat different from PAR SAR, before using TFT, what kind of setings where you using with PAR SAR?

TFT seems to folow the price more closely than the PAR so I am guessing a tweek at the PAR and it will look more similar to TFT
  • #3,616
  • Aug 5, 2007 11:41am Aug 5, 2007 11:41am
Quoting ovidiu
All of it seems to make perfect sense, especialy after I was trying to use it all of the last week, QQE it realy gives the same signals as SI, only the TFT is somewhat different from PAR SAR, before using TFT, what kind of setings where you using with PAR SAR?

TFT seems to folow the price more closely than the PAR so I am guessing a tweek at the PAR and it will look more similar to TFT
ovidiu,

At the risk of sounding rather lost here, would you be so kind as to post what trading platform you are using and what platform we are trying to adjust to what trading platform? (I think I said that right)

I guess you could say that it would help if we all knew what indicator came from what platform and goes to which one?

Or is it a "VT trader" or "mt4" indicator?

Just trying to keep ten thousand posts from hitting and keep things clear I guess.

Thanks
kevin
  • #3,617
  • Aug 5, 2007 11:43am Aug 5, 2007 11:43am
Quoting markam
The other man consists of the people in China and about 10,000 people in the US. The other 300+ million in the US are going to be the eaten dogs.
True and it's unfortunate that our politicians don't realize it (or maybe they do ).
Humble Lifetime Member
  • #3,618
  • Aug 5, 2007 11:44am Aug 5, 2007 11:44am
Hey guys.... I just stumbled across this site: http://quote2.fxtrek.com/misc/fxcm2.asp.
Can someone check out its GBPJPY chart and tell me if they also see the current price reported as 237.37...?!?! Is that true?! Or is it just some weird glitch? (that'd be awesome news for me haha...)
  • #3,619
  • Edited 12:04pm Aug 5, 2007 11:48am | Edited 12:04pm
Quoting I.Y.I
Thank u Aus and by the way nice to see u man helth and mood .I've got a few questions.Could u pls tell me how to input that TFT line,because i'm using the VT trader too and don'tknow how to do it?And also i use the RSI with the 50 line in the midle,but its not the same like these u use-the Strenght Indicator,but give us the same signals like the Strenght Indicator right?
Thank u

Hey IYI... I like to thank million times brother.. After your question I tried all my indicators on my charts to get you a closest possible default VT indicators to SI and TFT, So all our members could have something similar for free.

Here's what I found:

Strength Indicator = Quantitative Qualitative Indicator ( Smoothing period 5) Please go to indicator properties and add a red line on the value 50.
Go to color /style on the same indicator properties and turn the LevelRSIfast to white(invisible).... there you go, you got the same strength indicator as I'm using for FREE.

TFT = Gann HiLo Activator (period/value 10) exactly the same TFT as I use.

Now all the VT users can have the same SI and TFT for free
May be, emda can create something similar for MT4 users..
  • #3,620
  • Aug 5, 2007 11:50am Aug 5, 2007 11:50am
Take look at EUR/USD and USD/CHF also. EUR/USD is at 1,29 something.

Must be a mistake

EDIT: and USD/CAD is at 118. Muhahahahaha
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