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

  • #3,861
  • Aug 6, 2007 5:15am Aug 6, 2007 5:15am
Quoting brok
Then what I understand that you have taken your chances guessing an H1 cross. Rite? To be more conservative since h4 is bearish will it be wiser to have a short since after an h1 cross?
Yess it will be the best thing to do.. when you gain experience.. you will learn how to read the signs of a big fall from a smaller time frame... but as you said the safest thing to do is wait for the 1hr chart to turn bearish
  • #3,862
  • Aug 6, 2007 5:17am Aug 6, 2007 5:17am
Quoting xlr8
G'day folks

Mt4 users, I need confirmation.. Im using MT4 and need some help verifying that I've got the right set up....

Ive got
RSI 14
Momentum 10
5 SMA
Default MACD
PAR SAR
and
Absolute strength

Did I miss anything?

And welcome back Aus! Glad that you are feeling well.....

Seems to me you have it all under control.
  • #3,863
  • Aug 6, 2007 5:17am Aug 6, 2007 5:17am
If you look at the bigger picture .. untill the 1hr an 4 hr lined up together we are still on a ranging market..
  • #3,864
  • Aug 6, 2007 5:19am Aug 6, 2007 5:19am
Quoting karmostaji
I just got home from university and I see I missed the first short entry, no problemo.. I'm waiting for it to retrace to 1H 5SMA and i'm entering short
Me too. I was so busy scoffing down my dinner I completely missed the boat. Will wait for the retrace upto the 23990 region and then enter the fray.
  • #3,865
  • Aug 6, 2007 5:19am Aug 6, 2007 5:19am
Quoting auslanco
Yess it will be the best thing to do.. when you gain experience.. you will learn how to read the signs of a big fall from a smaller time frame... but as you said the safest thing to do is wait for the 1hr chart to turn bearish

Thnx again for your quick response and answers
  • #3,866
  • Aug 6, 2007 5:19am Aug 6, 2007 5:19am
Quoting auslanco
If you look at the bigger picture .. untill the 1hr an 4 hr lined up together we are still on a ranging market..
both will line up together in 1hr 40 mins

patience everyone, it pays off believe me
Trade what you see, not what you think.
  • #3,867
  • Aug 6, 2007 5:21am Aug 6, 2007 5:21am
Quoting AndyPass
Me too. I was so busy scoffing down my dinner I completely missed the boat. Will wait for the retrace upto the 23990 region and then enter the fray.
You didnt miss anything the fall hasn't even started yet until the 1hr crossdown
  • #3,868
  • Aug 6, 2007 5:22am Aug 6, 2007 5:22am
Quoting karmostaji
both will line up together in 1hr 40 mins

patience everyone, it pays off believe me
yehh... karmo..the NY start will be good
  • #3,869
  • Aug 6, 2007 5:25am Aug 6, 2007 5:25am
Quoting auslanco
yehh... karmo..the NY start will be good
yup, i'm with you about the 300 pips today, my tp is 236.00

I really want to thank you auslanco, you've given me the inspiration to become a much better trader than I was before, Thank you
Trade what you see, not what you think.
  • #3,870
  • Aug 6, 2007 5:26am Aug 6, 2007 5:26am
Quoting xlr8
G'day folks

Mt4 users, I need confirmation.. Im using MT4 and need some help verifying that I've got the right set up....

Ive got
RSI 14
Momentum 10
5 SMA
Default MACD
PAR SAR
and
Absolute strength

Did I miss anything?

And welcome back Aus! Glad that you are feeling well.....


Hi xl.. check this thread for some basic strategy rules:

http://www.forexfactory.com/showthread.php?t=41509
  • #3,871
  • Aug 6, 2007 5:26am Aug 6, 2007 5:26am
Quoting auslanco
You didnt miss anything the fall hasn't even started yet until the 1hr crossdown
Would've been nice to kick Monday off with 100 pips though before the drop.
  • #3,872
  • Aug 6, 2007 5:27am Aug 6, 2007 5:27am
Quoting karmostaji
both will line up together in 1hr 40 mins

patience everyone, it pays off believe me

And where would that be ? My charts are totally dif it says around the 240 level it will retrace... i just closed my shorts and i'm thinking of going long for the retracement - 1 lot at time hehe:
  • #3,873
  • Aug 6, 2007 5:28am Aug 6, 2007 5:28am
Quoting karmostaji
I really want to thank you auslanco, you've given me the inspiration to become a much better trader than I was before, Thank you
yes... and I think the key is his patience in the retracements and trustworthiness to his indicators.
  • #3,874
  • Aug 6, 2007 5:29am Aug 6, 2007 5:29am
Thanks Aus for comming back, my system seems to work okay on giving me signals but i always get out when things are going bad - even though my system says to stay in...and then it hits my tp...thanks for comming back and putting my confidence back in place ! its always good to confirm with someone else like you and mrkam and karma
  • #3,875
  • Aug 6, 2007 5:34am Aug 6, 2007 5:34am
Quoting egutie6970
And where would that be ? My charts are totally dif it says around the 240 level it will retrace... i just closed my shorts and i'm thinking of going long for the retracement - 1 lot at time hehe:
That's correct it might retrace to 240.95 area before resuming it's downtrend
Trade what you see, not what you think.
  • #3,876
  • Aug 6, 2007 5:34am Aug 6, 2007 5:34am
Quoting Freddyfx
Seems to me you have it all under control.

Thanks man
  • #3,877
  • Aug 6, 2007 5:36am Aug 6, 2007 5:36am
hello ,i use mt4, so can i find Quantitative Qualitative Estimation Indicator on mt4???
  • #3,878
  • Aug 6, 2007 5:37am Aug 6, 2007 5:37am
Hi Auslanco

Good to have you back!
I am using the SI indicator (QQE) in the VT trader trading platform.
There are 3 indicator constants in the QQE. I should only consider the cross over of RSIndex & RSISlow and not the crossover of RSIIndex & RSIfast??

Thanks!
  • #3,879
  • Aug 6, 2007 5:44am Aug 6, 2007 5:44am
Quoting egutie6970
And where would that be ? My charts are totally dif it says around the 240 level it will retrace... i just closed my shorts and i'm thinking of going long for the retracement - 1 lot at time hehe:
Up to you of course, but it might not retrace... it may just cross over and form below the current resistance...

I'd be scared to take a long here.. but I'm sure there are others who know better and have more bottle for this sort of thing...
  • #3,880
  • Aug 6, 2007 5:44am Aug 6, 2007 5:44am
Thanks Karmo & Eguity.. I'm learning lot from this thread.. speacially Karmo's Fib analysis is the best I have ever seen
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