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

  • #3,781
  • Aug 5, 2007 11:19pm Aug 5, 2007 11:19pm
guys... it trigger my long orders at 240.50. haha.. seems tt it will go up. we shall c when the news come...
  • #3,782
  • Aug 5, 2007 11:23pm Aug 5, 2007 11:23pm
Quoting Holypendant
guys... it trigger my long orders at 240.50. haha.. seems tt it will go up. we shall c when the news come...
Good luck! Rather you than me.
  • #3,783
  • Aug 5, 2007 11:29pm Aug 5, 2007 11:29pm
Quoting fourxtrader
pushing up and building tension on the spring

If this current wave holds above 240.24 - 240.30 it should oscillate on up to wind further tension in this spring
  • #3,784
  • Aug 5, 2007 11:33pm Aug 5, 2007 11:33pm
Good news is this may go upto 241.50+ area and I could get a better short entry...
The bad news is it could drag until NY to get a short signal
  • #3,785
  • Aug 5, 2007 11:38pm Aug 5, 2007 11:38pm
I live in UK and the floods in the Midlands must have had some effect on the manufacturing... maybe that is already written in..

Also, now we have an outbreak of foot and mouth... that can't be good for confidence...

However, no way of knowing which way this will make the market go at this stage..

If someone held a gun to my head and said enter now.. i think i would go short... but I wouldnt be comfortable with it yet...
  • #3,786
  • Aug 5, 2007 11:44pm Aug 5, 2007 11:44pm
The 5SMA was hit on the 4H Chart around 240.45. The Daily 5SMA now stands around 240.98 which is right near Friday's close and would satisfy the gap fill from the weekend.

M2B
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy daily.jpg Size: 43 KB
  • #3,787
  • Aug 5, 2007 11:51pm Aug 5, 2007 11:51pm
Auslanco let me ask something about the system... For the moment the daily is bearish and so h4. But we are waiting the indicators to give a short signal on H1.

What if H4 was also bullish? Would you take the long trade eventho daily was bearish? Or you wait all of them to give the same signal? Strictly the daily h4 and h1 line up?
  • #3,788
  • Aug 6, 2007 12:00am Aug 6, 2007 12:00am
I'm going for a small Long order to catch the retracement. 1hr turned bull and confirmed.

Entry 240.37
TP 240.87
SL 239.90

This is not a trade call.. Trade @ your own risk.
  • #3,789
  • Aug 6, 2007 12:00am Aug 6, 2007 12:00am
Quoting fourxtrader
If this current wave holds above 240.24 - 240.30 it should oscillate on up to wind further tension in this spring
My IBFX charts show it's been trying to hold above the 38.2% retracement (@~240.38) on the push from 239.95 to 240.60. Same as ~38.2% on the more recent imbeded trend from 240.13 - 240.51

Looks like that is a key support... ~240.30-35 needs to be maintained if it intends to have any strength to go up further in this retracement.

I'm begining to see the value of fib indicators and their repeating patterns and consistency in bring clarity to these movements.
  • #3,790
  • Aug 6, 2007 12:03am Aug 6, 2007 12:03am
Quoting brok
Auslanco let me ask something about the system... For the moment the daily is bearish and so h4. But we are waiting the indicators to give a short signal on H1.

What if H4 was also bullish? Would you take the long trade eventho daily was bearish? Or you wait all of them to give the same signal? Strictly the daily h4 and h1 line up?
yess.. I would take the Long order if 4Hr+1hr Bullish . profit target 200pips
  • #3,791
  • Aug 6, 2007 12:04am Aug 6, 2007 12:04am
Quoting auslanco
I'm going for a small Long order to catch the retracement. 1hr turned bull and confirmed.

Entry 240.37
TP 240.87
SL 239.90

This is not a trade call.. Trade @ your own risk.

I'm with you: Wow it took off

average entry 240.18
TP 240.78
SL 239.98
  • #3,792
  • Aug 6, 2007 12:09am Aug 6, 2007 12:09am
Quoting karmostaji
It's a weekly trendline, strong one
Just checked now and indeed it is a weekly trendline, that you also have posted on your graphs.
even if it's ranging an no big moves yet, but the thread it is full o people anxiously waiting for a signal to buy/sell . On gbpjpy thread are only 19 people..., I think it is safe to say that now this is the official thread for GJ .
  • #3,793
  • Aug 6, 2007 12:19am Aug 6, 2007 12:19am
the 1hr SI is pointing north
  • #3,794
  • Aug 6, 2007 12:22am Aug 6, 2007 12:22am
Quoting sypultraz
the 1hr SI is pointing north
But the 4H SI is pointing south, and 4H is under TFT
  • #3,795
  • Aug 6, 2007 12:25am Aug 6, 2007 12:25am
Quoting auslanco
When you enter from smaller time frame like 10mins you have to be very cautious...if you are chasing big pips. As the price moves if you don't see much promising results from 1hr time frame you may want to exit with a smaller profit margin .

But you may only want to catch 20-40 pip moves with 10 min time frame. I prefer to catch large 200-300 moves on 1hr time frames.

This thread member Spanishfly had made 180 pips from scalping by integrating the 30min time frame with the 5 mins. He also made 200 on my 4hr / 1hr strategy. He emailed me a copy of his statement and he had made 390 pips last week(his very first week following this strategy) on this pair.

End of the day .. It's all about what you are more comfortable of doing.

woowwww....spanishfly been doing great last week.....good my friend.....
  • #3,796
  • Aug 6, 2007 12:28am Aug 6, 2007 12:28am
Quoting sypultraz
the 1hr SI is pointing north
1hr Strength Indicator turned upwards
4hr still bearish.

Interpretation: Pair has stepped in to a ranging area. The price will retrace to Friday close since the 1hr turned bull. If we see the 1hr touch 50 line and turn downward again(providing the 4hr still bearish) we can shoot for 300 pip profit on a short signal. However it may take awhile before the pair finds a clear direction to go.
Attached Image
  • #3,797
  • Aug 6, 2007 12:30am Aug 6, 2007 12:30am
4hr & 1hr
Attached Image
  • #3,798
  • Aug 6, 2007 12:36am Aug 6, 2007 12:36am
if for larger moves you use daily 4H and 1H, for smaler ones like a retracement you use 1H 30 min and 10 min, with the same logic behind?
to make it more clear, entry on 10 min after SI cross with 50 line at second candle, 30 min has to have the same trend, and if 1H is the same then we know it's a 1H retracement ...
I am just waiting for a yes or no response
  • #3,799
  • Aug 6, 2007 12:41am Aug 6, 2007 12:41am
Quoting fourxtrader
I'm with you: Wow it took off

average entry 240.18
TP 240.78
SL 239.98

Decided to bail at 240.68 for 50 pips X 3 minis.

I'll watch to see what the 4H develops.
  • #3,800
  • Aug 6, 2007 12:41am Aug 6, 2007 12:41am
Quoting auslanco
4hr & 1hr
Don't you think it will go up until 240.95 (61.8 fibo) before going downward ?
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