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

  • #5,621
  • Aug 9, 2007 11:02am Aug 9, 2007 11:02am
My 4H chart says Reversal to the upside

It's possible we retest the low first as A said
Trade what you see, not what you think.
  • #5,622
  • Aug 9, 2007 11:03am Aug 9, 2007 11:03am
Quoting karmostaji
any MT4 platforms that have DOW charts? I'll look into analyzing it for next week
Windsor Direct & North Finance
  • #5,623
  • Aug 9, 2007 11:04am Aug 9, 2007 11:04am
Quoting karmostaji
My 4H chart says Reversal to the upside

It's possible we retest the low first as A said
Karmo,

My 4H chart (VT) SI has gone under 50 line, and is cross under and downward.

Are you using the VT?
  • #5,624
  • Aug 9, 2007 11:05am Aug 9, 2007 11:05am
Quoting karmostaji
My 4H chart says Reversal to the upside

It's possible we retest the low first as A said
Mine too but I am reluctant to take it with a long legged Doji including a retracement to almost 50 of the move
  • #5,625
  • Aug 9, 2007 11:06am Aug 9, 2007 11:06am
Quoting trader8686
Karmo,

My 4H chart (VT) SI has gone under 50 line, and is cross under and downward.

Are you using the VT?
no, but I know what you're saying.. I saw it on VT

but to me, 4h tells me reversal (it doesn't mean price will start shooting up now LOL)
Trade what you see, not what you think.
  • #5,626
  • Aug 9, 2007 11:06am Aug 9, 2007 11:06am
Quoting auslanco
Hi ovidu... It was nothing unpredictable.... when it was shooting down, around 239.20 the 15 min SI crossed up.. then we knew there was a 50% retracement.. then the price went up and completed the retracement and now it's coming down to re-test the Low's.. .. This is easier to predict than my wife
239.20 yesterday rock hard support like you said, also the base of the chanel that everbody is talking about, plus the run downwards for about 400 pips(it was tired like you said : ), and yes the indicators were showing a retracement, come to think of it the only way it was going to go was up, I don't know why I didn't go long?! , anyway your statement at the start of this thread about taking you 8 months to make 100$ a week is the only thing that keeps me going, when I want to enter I wait for more confirmation and then I find myself with an entry in the midle point of two important levels and ofcurse I screw it up, I try hedging that doesn't works for me..., everbody is saying that they make xxx pips per day I only end up losing or to breakeven . Even though I think I got the basics from your strat something keeps me from wining, so for the moment I decided to only watch the price movements maybe just maybe something will go into my thick head!
  • #5,627
  • Aug 9, 2007 11:08am Aug 9, 2007 11:08am
Quoting Majd
Mine too but I am reluctant to take it with a long legged Doji including a retracement to almost 50 of the move
Daily trendline wasn't broken, it closed above it, but below the weekly trendline

confusing.. isn't it
Trade what you see, not what you think.
  • #5,628
  • Aug 9, 2007 11:08am Aug 9, 2007 11:08am
why 50%, not 23.6%, 61.8%.

Quoting auslanco
Hi ovidu... It was nothing unpredictable.... when it was shooting down, around 239.20 the 15 min SI crossed up.. then we knew there was a 50% retracement.. then the price went up and completed the retracement and now it's coming down to re-test the Low's.. .. This is easier to predict than my wife
  • #5,629
  • Aug 9, 2007 11:10am Aug 9, 2007 11:10am
4h doji star
  • #5,630
  • Aug 9, 2007 11:10am Aug 9, 2007 11:10am
Quoting osamajamal
acording to bo7a I think it is respecting the channel and will go up upto 244

see the chart bellow

http://www5.0zz0.com/2007/08/09/15/72426597.gif
Sorry, but could you clarify what bo7a stands for?

M2B
  • #5,631
  • Aug 9, 2007 11:13am Aug 9, 2007 11:13am
Quoting karmostaji
Daily trendline wasn't broken, it closed above it, but below the weekly trendline

confusing.. isn't it
Indeed. I think I will wait for a buy on a second dip.
  • #5,632
  • Aug 9, 2007 11:14am Aug 9, 2007 11:14am
Karmos I see the same thing of possible reversal.

THe Doji on the 4HR looks suspect, possible exhaustion.

I'm staying on sidelines till I get clear direction.


Quoting karmostaji
My 4H chart says Reversal to the upside

It's possible we retest the low first as A said
  • #5,633
  • Aug 9, 2007 11:21am Aug 9, 2007 11:21am
ranging?
  • #5,634
  • Aug 9, 2007 11:29am Aug 9, 2007 11:29am
I'm surprised those on this thread discuss only GBPJPY - and seem to have no interest in the two pairs that more or less determine its value - i.e., cable and USDJPY.
  • #5,635
  • Aug 9, 2007 11:33am Aug 9, 2007 11:33am
Quoting karmostaji
Very risky, it's up to you if you want to lose pips

I longed now, TP 242.70
Karmo, I'm still studying S/Ls and T/Ps. I got the reason where you placed your T/P. But where is your S/L, if any? Below the lowest point?

(I didn't take the trade though, I'm just studying.)

Thanks.
  • #5,636
  • Aug 9, 2007 11:35am Aug 9, 2007 11:35am
Austanco

First I want to say thank you for sharing your system. I have had great difficulty trying to understand charts or the TA side of trading and you have allowed me to finally understand a chart. You said to enter using 1HR chart after confirming the two features on the 4HR chart. Your entry point is when it crosses the 50 line but if it is WAY BELOW/ABOVE the 50 line wait for a retracement is due.

Can you please let me know what range is WAY BELOW/ABOVE? For example is entry ok after all is confirmed if the strength indicator is 5 points away from 50?

Thank you. SW
The Will is Greater than the Skill
  • #5,637
  • Aug 9, 2007 11:37am Aug 9, 2007 11:37am
Quoting 200
ranging?
You bet it is.
Attached Image (click to enlarge)
Click to Enlarge Name: 4h.jpg Size: 62 KB
  • #5,638
  • Aug 9, 2007 11:37am Aug 9, 2007 11:37am
Quoting magiclino
Karmo, I'm still studying S/Ls and T/Ps. I got the reason where you placed your T/P. But where is your S/L, if any? Below the lowest point?

(I didn't take the trade though, I'm just studying.)

Thanks.
238.50 , just below yesterdays low
Trade what you see, not what you think.
  • #5,639
  • Aug 9, 2007 11:37am Aug 9, 2007 11:37am
Quoting 200
ranging?
Dow ranging GJ ranging what a wonder...
  • #5,640
  • Aug 9, 2007 11:40am Aug 9, 2007 11:40am
Quote
Sorry, but could you clarify what bo7a stands for?

M2B

4get about this name i forget to delete coz i used the same chart in other forum .

any way

what about the chart it self ?
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