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

I think if this monthly pivot pt at 243.40 breaks we may see a drop to the former resistance line at 242.70 area before it goes back up
Quoting magiclino
I think Auslanco also mentioned something about volume being an important part in his system. Don't we have low volume at this time of day?
Yes. I believe he said if the price action moves on low volume, the SI can give a false reading.

On VT, I have volume with a 50 SMA added to it. The last 8 hours on 1h have been way below average volume, except for the dragonfly doji (bullish candle). I would think this could be a false bear signal on the 1h SI. Plus, D & 4h SIs are bullish. Shorting is a risky trade as previously mentioned by Karmonji.
Quoting Al_Have1
Yes. I believe he said if the price action moves on low volume, the SI can give a false reading.

On VT, I have volume with a 50 SMA added to it. The last 8 hours on 1h have been way below average volume, except for the dragonfly doji (bullish candle). I would think this could be a false bear signal on the 1h SI. Plus, D & 4h SIs are bullish. Shorting is a risky trade as previously mentioned by Karmonji.
What is the indicator for volume on VT? and any special values?
Quoting Timingy
What is the indicator for volume on VT? and any special values?
It's actually listed as 'Volume' in the indicator section and you don't set a value, just default.

M2B
Quoting mrsteckman
I think if this monthly pivot pt at 243.40 breaks we may see a drop to the former resistance line at 242.70 area before it goes back up
I hope that you are right, for I am still holding my shorts to 242.75.
I heard that there is ascending triangle forming, and the other one said a bull trap.

Not sure what to do, now?
Quoting frank99
Does anyone else see an ascending triangle forming?


Frank
Frank,
Where is the true triangle?
I am still holding my shorts.
Quoting my2buoys
It's actually listed as 'Volume' in the indicator section and there is no place to set a value, it's just default.

M2B
Yes. also add a sma to the volume window. I use 50 but there is no magic number. The SMA will let you know if it is above/below ave volume.
my long term prediction here
Quoting new_trader
If bottom red lines hold we may see a rise toward thick red,blue and green lines
slowly coming to truth

not sure though if that green line(244.50 area) will be reached 100%. Will it depend on trade balance?
Attached Image (click to enlarge)
Click to Enlarge Name: 4hrgbpjpy.jpg Size: 85 KB
Quoting mrsteckman
Attachment 42708
Can't read a thing on your chart. Please zoom it down and explain what you are trying to show us. I for one love charts but only if I can read them. Thanks.

M2B
Sorry having trouble trying to zoom it in so that it can be seen more clearly. Basicly it is a 4 hr gbp/jpn chart that shows resistance and support areas along with daily,weekly, and monthly pivot pts. Also has a 6 day rsi which in my opinion is pretty reliable which gives out sell/buy signals that correlate with a blue(buy) and yellow(sell) signal. As soon as I can make this image more crisp I will repost
Quoting mrsteckman
Sorry having trouble trying to zoom it in so that it can be seen more clearly. Basicly it is a 4 hr gbp/jpn chart that shows resistance and support areas along with daily,weekly, and monthly pivot pts. Also has a 6 day rsi which in my opinion is pretty reliable which gives out sell/buy signals that correlate with a blue(buy) and yellow(sell) signal. As soon as I can make this image more crisp I will repost
Mr. S, If you are using MT4, try reducing the window to size first then Save as Picture (as is). If you save as a picture (800x600) you lose quality.
I realize that this is just a 30M Chart but it seems to emphasize the resistance being encountered at 244. Add up the bars and it comes to almost 12 hours of banging off that mark. But as the chart shows, the previous 9 hours before that it ran up 400+ pips so I'm not sure if this is so much a strong resistance point as it is a nice spot to slow down and take a breather before marching upward again. And 244 does represent the 23.6 Fib of the run up past the 251 area. We shall soon find out.

M2B
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy 30m.jpg Size: 28 KB
here is my analysis of GJ and its expected next movehttp://farm2.static.flickr.com/1105/...b836b65b55.jpg
sorry. a stupid question. what does PM mean?
Quoting panql
sorry. a stupid question. what does PM mean?
personal message, they show up at the top left side of your page.
Quoting Al_Have1
Yes. also add a sma to the volume window. I use 50 but there is no magic number. The SMA will let you know if it is above/below ave volume.
SMA is that red line just like we have on the QQE. yes i am just learning the system and thanks for your patience and help.


Too funny, I love ya imagination. But do you really feel that way?

Quoting markam
here is my analysis of GJ and its expected next movehttp://farm2.static.flickr.com/1105/...b836b65b55.jpg
Quoting trader8686
I hope that you are right, for I am still holding my shorts to 242.75.
I heard that there is ascending triangle forming, and the other one said a bull trap.

Not sure what to do, now?
I would stay out for the moment.

No point in risking money when there is no clear direction.

I think we need it to go down at least to the 38.2 fib of the previous upmove..

That would be around 24243 on my charts.. maybe hang around there or getting there for a while to build up energy for a push up?

Let's see what happens when london opens..



Better to let a couple of trains leave the station without you until you are sure they are really going your way?
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