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

  • #7,641
  • Aug 14, 2007 7:07pm Aug 14, 2007 7:07pm
we are at the 1-hour 5sma now
  • #7,642
  • Aug 14, 2007 7:09pm Aug 14, 2007 7:09pm
The 4-hour is about 235.50. I expect it will retrace at least that far.
  • #7,643
  • Aug 14, 2007 7:09pm Aug 14, 2007 7:09pm
Quoting trader8686
Just need one more confirmation:
We should have already touched 1h 5 sma at 234.63.
Retracement is done, Right?

Guess what it's going up higher, now. (Still not good at judging the retracement.)
The 4H 5SMA is at 235.48.

M2B
  • #7,644
  • Aug 14, 2007 7:13pm Aug 14, 2007 7:13pm
Nikkei down 226
  • #7,645
  • Aug 14, 2007 7:14pm Aug 14, 2007 7:14pm
Quoting markam
The 4-hour is about 235.50. I expect it will retrace at least that far.
My observation, that's it, finished at 1h 5 sma.
Because this is a bear bear market.
  • #7,646
  • Aug 14, 2007 7:14pm Aug 14, 2007 7:14pm
Sharemarket opens down 95 points and falling
  • #7,647
  • Aug 14, 2007 7:14pm Aug 14, 2007 7:14pm
The only negative thing I can see regarding a retrace right now on any of the charts is that the 30M Momentum indicator is down.

M2B
  • #7,648
  • Aug 14, 2007 7:15pm Aug 14, 2007 7:15pm
GU is still headed down. The yen is weakening against the dollar, so that is the only reason GJ is headed up. It doesn't look too terribly strong right now on the retracement, but what do I know.
  • #7,649
  • Aug 14, 2007 7:16pm Aug 14, 2007 7:16pm
Markam,

BTW, how do we judge that the retracement is done fully?
  • #7,650
  • Aug 14, 2007 7:17pm Aug 14, 2007 7:17pm
Quoting trader8686
Markam,

BTW, how do we judge that the retracement is done fully?

We hope Auslanco tells us.
  • #7,651
  • Aug 14, 2007 7:23pm Aug 14, 2007 7:23pm
Quoting markam
We hope Auslanco tells us.
Change topics here:
Nikkei down 226.
Is this working on the GJ same as DOW?
  • #7,652
  • Aug 14, 2007 7:28pm Aug 14, 2007 7:28pm
Quoting trader8686
Change topics here:
Nikkei down 226.
Is this working on the GJ same as DOW?
I don't think it tracks as closely as the US markets, but the Nikkei going down strengthens the yen (hows that for assbackwards?).
  • #7,653
  • Aug 14, 2007 7:28pm Aug 14, 2007 7:28pm
Quoting trader8686
Markam,

BTW, how do we judge that the retracement is done fully?
When your stop gets hit.

M2B
  • #7,654
  • Aug 14, 2007 7:30pm Aug 14, 2007 7:30pm
Quoting my2buoys
When your stop gets hit.

M2B

Using that criteria, the retracement is complete
  • #7,655
  • Aug 14, 2007 7:37pm Aug 14, 2007 7:37pm
Good morning guys,

Looks like I slept through a good drop!

I just closed two shorts that I took out before going to bed, one opened at 236.56 and the other at 236.64 and left my bigger one to run some more (opened at 239.10) although I have moved my stop down to 237.24.

If it breaks through 234.13 and closes on the 1H I see it going a bit further.

Mike
  • #7,656
  • Aug 14, 2007 7:41pm Aug 14, 2007 7:41pm
Quoting markam
Using that criteria, the retracement is complete
Same here.

M2B
  • #7,657
  • Aug 14, 2007 7:53pm Aug 14, 2007 7:53pm
Oh boy.. whats going on here.. I had my best sleep in weeks and GJ went down 50000 pips
  • #7,658
  • Aug 14, 2007 7:57pm Aug 14, 2007 7:57pm
Quoting quickpips
It looks like the default settings are not correct. If you could please share the settings, thanks!
The defaul is correct. Smoothing Factor of 5 is what Aus said to use on VT. The default on this indicator is 5. The default values on this = QQE Smoothing Factor 5. I just tested it again on another comp on another broker.

FYI:

The default value on VT is Smoothing Factor 2. This is not what Aus said to use. If you are using SF 2 on VT I believe you are not using it correctly. If you want this indicator to be SM 2, you just put 2 in the Smoothing field.
Que
  • #7,659
  • Aug 14, 2007 7:57pm Aug 14, 2007 7:57pm
Quoting auslanco
Oh boy.. whats going on here.. I had my best sleep in weeks and GJ went down 50000 pips

We don't care about your sleep. We want to hear about your analysis.
  • #7,660
  • Aug 14, 2007 8:02pm Aug 14, 2007 8:02pm
I have a few questions guys....... on a recent topic of discussion.

I'm not a TA guy but hope to become one... this thread forces one to do so.

Tell me... is it a given and commonly accepted principle in TA circles... if so, on what basis does the 5SMA indicate a retracement level?

Does it apply to any and all time frames for determining potential retracements?

Why is more weight placed on the 5SMA in "A"'s strategy? Such a short time frame....

And how does that correlate with fib lines used to 'guesstimate' retracement?

Is it just another of many tools used according to individual preference?

thanks for your tutoring...



And don't you dare send me to the strategy thread....... ☼Ü☼
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