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

  • #3,941
  • Aug 6, 2007 7:27am Aug 6, 2007 7:27am
Quoting emda
i closed some profits
i may reenter if NY guys decide this thing to break or not...
I am having trouble getting my MT4 setup to look like what AUS is using.

I did load a file you put together a while back, but wondering if you have had any more luck replicating the SI indicator.

Do you have any updated profile and experts by chance?

Greatly appreciated if you do.
  • #3,942
  • Aug 6, 2007 7:31am Aug 6, 2007 7:31am
Quoting MikeW
Thanks Karmostaji,

What made you choose those points? I can't see any significance as far as a weekly TL is concerned?

regards

Mike
That's actually a good and hard question, I chose those two points because that TL is the closest one to the current price area, and coincidently this TL was right on 2 of my fibo levels which means this area might be a good support/resistance level. If you connect any other 2 points from those lows, it is going to be way off and i don't see any point of looking at that at the moment. You pay connect the second point to the lowest price on the 4th March 07, it shows us the price to be around the 230 area which we are about 1000 pips far from, I might look at that TL when we get closer to 230's. Honestly I don't pay too much attention to the weekly TLs, I mostly concentrate on my fibonacci levels and the candlestick formations, I just use the weekly TLs for a broader look of where we find strong S/R or for confirmation or something.
Trade what you see, not what you think.
  • #3,943
  • Aug 6, 2007 7:32am Aug 6, 2007 7:32am
Quoting auslanco
1 hr confirmation.. my profit target 300 pips
300pips dwn? meaning 236?
  • #3,944
  • Aug 6, 2007 7:36am Aug 6, 2007 7:36am
Karmostaji,

What is your t/p and s/l?
  • #3,945
  • Aug 6, 2007 7:37am Aug 6, 2007 7:37am
Quoting Holypendant
300pips dwn? meaning 236?
I hope so, and i hope it starts soon 239.60 area right now...buuuu
  • #3,946
  • Aug 6, 2007 7:37am Aug 6, 2007 7:37am
Quoting karmostaji
My 4H chart is telling me we are ready to head down to 237.60, so I'll sit tight and be patient until 1st TP reaches
That is because on the 4H chart we have nothing between the weekely trendline, 38.2 daily fibo where the 4H candle opened and the low on 1'st of august?
Just bare with me please
:
  • #3,947
  • Aug 6, 2007 7:44am Aug 6, 2007 7:44am
Quoting Holypendant
300pips dwn? meaning 236?
I was wanting to ask the same question..., I think since the confirmation bar opened 239.43, 300 pips means 236.43 area, and we also have 236.08 as 50 fibo on daily and only the low on 1'st of august at 237.6 can pose any problems to that down there, or at least this is my guess
  • #3,948
  • Aug 6, 2007 7:44am Aug 6, 2007 7:44am
Quoting trader8686
Karmostaji,

What is your t/p and s/l?
Quoting karmostaji
I shorted @ 239.74
TP1 237.60
TP2 236.00
SL 241.40
Trade what you see, not what you think.
  • #3,949
  • Aug 6, 2007 7:45am Aug 6, 2007 7:45am
Quoting ovidiu
That is because on the 4H chart we have nothing between the weekely trendline, 38.2 daily fibo where the 4H candle opened and the low on 1'st of august?
Just bare with me please
:
correct
Quoting ovidiu
I was wanting to ask the same question..., I think since the confirmation bar opened 239.43, 300 pips means 236.43 area, and we also have 236.08 as 50 fibo on daily and only the low on 1'st of august at 237.6 can pose any problems to that down there, or at least this is my guess
correct

well done ovidiu
Trade what you see, not what you think.
  • #3,950
  • Aug 6, 2007 7:46am Aug 6, 2007 7:46am
seems to be a slow ride, . I'm expecting 236.82 by tomorrow Asian. but play your own strategy.I'm Off for the day guys.

Good luck to everyone.
  • #3,951
  • Aug 6, 2007 7:53am Aug 6, 2007 7:53am
Quoting auslanco
1 hr confirmation.. my profit target 300 pips
please give more detail... how does 1hr confirms more downside? SI is sideways ...is this based on TFT?
  • #3,952
  • Aug 6, 2007 8:02am Aug 6, 2007 8:02am
Quoting auslanco
OK guys I'm going short


Disclaimer
This is not a trade call... Please trade this @ your own risk
lol...Auslanco you should make that your staple signature and save it so you don't have to keep typing it..lol
  • #3,953
  • Aug 6, 2007 8:02am Aug 6, 2007 8:02am
Nice trend line break and close on the 1H Chart at 9GMT.

M2B
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy 1h.jpg Size: 56 KB
  • #3,954
  • Aug 6, 2007 8:04am Aug 6, 2007 8:04am
Quoting chonpz
please give more detail... how does 1hr confirms more downside? SI is sideways ...is this based on TFT?
Hi chonpz, If both 4hr and 1hr crossed down.. it not sideways.This strategy is not a intraday strategy.. average trade length is 24 hours. You may want to look at my strategy thread for some basic rules
  • #3,955
  • Aug 6, 2007 8:05am Aug 6, 2007 8:05am
Quoting chonpz
please give more detail... how does 1hr confirms more downside? SI is sideways ...is this based on TFT?
Since he is not here, this is what I've understood so far:
1hr confirmation bar formed below TFT so 300 pips down from the start of that candle, because we have daily 4H and 1H SI in bearish mode
But you can also check this things here http://www.forexfactory.com/showthread.php?t=41509
  • #3,956
  • Aug 6, 2007 8:09am Aug 6, 2007 8:09am
Quoting auslanco
seems to be a slow ride, . I'm expecting 236.82 by tomorrow Asian. but play your own strategy.I'm Off for the day guys.

Good luck to everyone.
So you are still here..., I have my TP above 236.82 but still I am curious how did you get that, I don't see it on any fibs or trendline so it must be a pivot or something like that?
lol I have it on my charts, now I just have to figure out from where did it come..., I have the bad habbit of erasing stuff, but it's been there since last week and it must be a 4H fibo because of the color
  • #3,957
  • Aug 6, 2007 8:15am Aug 6, 2007 8:15am
Quoting ovidiu
So you are still here..., I have my TP above 236.82 but still I am curious how did you get that, I don't see it on any fibs or trendline so it must be a pivot or something like that?
I entered @ 239.82.. so my 300 pips will be @ 236.82. No real calculation behind it. that was just my default target. That also will be the minimum this bear may fall. Karmo will be able to give you the exact bottom
  • #3,958
  • Aug 6, 2007 8:18am Aug 6, 2007 8:18am
Quoting my2buoys
Nice trend line break and close on the 1H Chart at 9GMT.

M2B
Good analysis bro. Thanks
  • #3,959
  • Aug 6, 2007 8:23am Aug 6, 2007 8:23am
Hi everybody.. just a new member... watching this thread since July... but because of phobia to GJ, just reading without enter position. But look like Aus and Karmastoji give us very priceless info n guideline.. thank both of u...
  • #3,960
  • Aug 6, 2007 8:26am Aug 6, 2007 8:26am
Looks like it's meeting a bit of resistance around the 23920 level
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