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

  • #4,201
  • Edited 7:07pm Aug 6, 2007 6:48pm | Edited 7:07pm
Quoting trader8686
So, in this case, we are not confirmed a uptrend, yet.
I didn't say that. I said that a break and close above the neckline would HELP confirm the return of the uptrend. There were actually a couple of other factors that suggested an upturn earlier on. I saw one but ignored it. It was the pin bar on the 4H Chart. Notice that we never had a CLOSE beneath this trendline.

M2B
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  • #4,202
  • Aug 6, 2007 6:53pm Aug 6, 2007 6:53pm
Here is the 30M Chart which shows a break of the bearish trendline as well as divergence on MACD to price. I am not a big believer in divergence alone but in this case it was an added confirmation to one or two other reasons to intiate a long trade. Unfortunately I didn't see it in time to act on it because I don't watch the 30M chart that closely.

M2B
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  • #4,203
  • Aug 6, 2007 7:16pm Aug 6, 2007 7:16pm
Hmmm.. another day in paradise....
  • #4,204
  • Aug 6, 2007 7:27pm Aug 6, 2007 7:27pm
Quoting auslanco
Hmmm.. another day in paradise....
Bom Dia!
  • #4,205
  • Aug 6, 2007 7:33pm Aug 6, 2007 7:33pm
has the 4hr strength indicator turned bullish yet? or do we look for a cross over 50 first?
  • #4,206
  • Aug 6, 2007 7:39pm Aug 6, 2007 7:39pm
Quoting auslanco
Hmmm.. another day in paradise....
Gotta love it mate.
Glad to see you back in the saddle
Should be a great week for trading !
  • #4,207
  • Aug 6, 2007 7:40pm Aug 6, 2007 7:40pm
Quoting sdot
has the 4hr strength indicator turned bullish yet? or do we look for a cross over 50 first?
My graphs say it will retrace about 20-30 pips then next candle it will go bullish and head up.....just my 2 pips..
  • #4,208
  • Aug 6, 2007 7:40pm Aug 6, 2007 7:40pm
Quoting sdot
has the 4hr strength indicator turned bullish yet? or do we look for a cross over 50 first?
It's just crossed on this current bar crossed.. but I'm waiting for the 4hr confirmation bar @ 00.00EST.
  • #4,209
  • Aug 6, 2007 7:42pm Aug 6, 2007 7:42pm
Quoting Rustyyy
Gotta love it mate.
Glad to see you back in the saddle
Should be a great week for trading !
I'm loving it buddy.. specially when the rats come out of their holes when things go the other way
  • #4,210
  • Aug 6, 2007 7:47pm Aug 6, 2007 7:47pm
Quoting auslanco
Hmmm.. another day in paradise....
Aus,

Have we already finished the retracement, yet?
Now is at 241.23, and it's only gone to the 23.6%
  • #4,211
  • Aug 6, 2007 7:49pm Aug 6, 2007 7:49pm
Hi everybody

my 1st post

We have good resistance at 2.0360 to sell
with 35 pip stop lose and 100 pip target

Who is agree with me
http://www.tdwltoday.com/vb/uploaded/1_01186447709.gif
  • #4,212
  • Aug 6, 2007 7:51pm Aug 6, 2007 7:51pm
Quoting egutie6970
My graphs say it will retrace about 20-30 pips then next candle it will go bullish and head up.....just my 2 pips..
Have we finished retracement, yet? 241.21 is at about 23.6% only
I hope that it can go upto 38.2%
  • #4,213
  • Aug 6, 2007 7:51pm Aug 6, 2007 7:51pm
Quoting auslanco
I'm loving it buddy.. specially when the rats come out of their holes when things go the other way


Cheers mate!
  • #4,214
  • Aug 6, 2007 7:54pm Aug 6, 2007 7:54pm
Quoting trader8686
Aus,

Have we already finished the retracement, yet?
Now is at 241.23, and it's only gone to the 23.6%
I'm staying away from the market at least for the next 4hours..My 4hr turned bullish, on the retracement. but no confirmation yet..
  • #4,215
  • Aug 6, 2007 7:56pm Aug 6, 2007 7:56pm
Quoting auslanco
I'm staying away from the market at least for the next 4hours..My 4hr turned bullish, on the retracement. but no confirmation yet..
How do we tell if retracement is finished, yet?
  • #4,216
  • Aug 6, 2007 8:06pm Aug 6, 2007 8:06pm
Quoting Abo saqer
Hi everybody

my 1st post

We have good resistance at 2.0360 to sell
with 35 pip stop lose and 100 pip target

Who is agree with me
http://www.tdwltoday.com/vb/uploaded/1_01186447709.gif
Your chart is unreadable. What time frame is it? What indicator are you using on the bottom frame? What do the dark blue lines represent? Don't storm in here throwing out predictions without clarifying your reasons for doing so. And please clean up the chart! And by the way, it's insane to use a 35 pip stop loss on the GBP/JPY even if you're just scalping.

M2B
  • #4,217
  • Aug 6, 2007 8:15pm Aug 6, 2007 8:15pm
Quoting trader8686
How do we tell if retracement is finished, yet?

As long as My S.I stay crossed upwards.. I interpret this as a short term trend change. Not a retracement.
  • #4,218
  • Aug 6, 2007 8:18pm Aug 6, 2007 8:18pm
Quoting my2buoys
Your chart is unreadable. What time frame is it? What indicator are you using on the bottom frame? What do the dark blue lines represent? Don't storm in here throwing out predictions without clarifying your reasons for doing so. And please clean up the chart! And by the way, it's insane to use a 35 pip stop loss on the GBP/JPY even if you're just scalping.

M2B
Thats gbpusd, and i'd say down move is likely but without reaching 2.036.
  • #4,219
  • Aug 6, 2007 8:25pm Aug 6, 2007 8:25pm
Quoting new_trader
Thats gbpusd, and i'd say down move is likely.
You are correct. I should have recognized the price. I just assumed he was talking about GBP/JPY since this is a GBP/JPY Thread with GBP/USD news trades thrown in from time to time. And his chart still needs clarification.

M2B
  • #4,220
  • Aug 6, 2007 8:32pm Aug 6, 2007 8:32pm
Sdot.. I beleive That you understand this strategy pretty well.. I will show you a hedging system... when you are on a trade. You can always keep an eye on a smaller time frame like 15 minutes.. If the 15minutes SI cross over 50 line to the opposite direction you can open a hedge position to secure your pips. You can leave the hedge position until you get a clear direction or cross back to 50 line of your original direction. This way you never hit your stop loss.
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