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

  • #8,441
  • Aug 15, 2007 11:26am Aug 15, 2007 11:26am
Quoting markam
The dow is back in its comfort range for the day. Sometime before market close, we will almost surely get a surge up or down. I won't try to catch it, but I will use it to plan my trade for the next 18 hours.
yes.. in 1 hour volume will start to increase... I don't know why this happens.. but everyday there is a volume spike at the end of the session...
  • #8,442
  • Aug 15, 2007 11:26am Aug 15, 2007 11:26am
If the 5min QQE crosses the 50 line it turns into something more than a retracement, am I right Auslanco?
  • #8,443
  • Aug 15, 2007 11:26am Aug 15, 2007 11:26am
Quoting auslanco
sometimes the 30min 5 sma retracement can go down to the 1hr 5sma. sometimes it goes down to 4hr 5sma before turning back
which price ?
sorry
  • #8,444
  • Aug 15, 2007 11:28am Aug 15, 2007 11:28am
Quoting danryman78
which price ?
sorry
1 Hr 5SMA is now 233.72

and it might test the 4H SMA nxt
  • #8,445
  • Aug 15, 2007 11:28am Aug 15, 2007 11:28am
Quoting zoheir
yes, if it goes past the 5sma on 30M for example , you don't consider this a retracement cause it can simply be a reversal and the price will continue down....so what you do in that case , you go up one time frame, 1H in this case and look if the price will hold at 5SMA on 1H chart or not, sometimes I go up to 1D charts looking for retracement cause all the previous TF didn't hold the price 2 5SMA
I confirm the reversals on 30 min and 1hr SI(QQE) cross downs
  • #8,446
  • Aug 15, 2007 11:29am Aug 15, 2007 11:29am
Just a quick tip for newbies:

Since most of you probably have your trading account in USD I would suggest that once you made good profits you withdraw all funds that you do not need for your positions and store it outside of your broker. I suggest having 30% in the currency that you need to live on, 30% in a hard currency with good fundamentals (Loonie or Aussie comes to mind) and the rest in precious metals (preferably gold).

This will help you in many ways:

1. The USD is going to depreciate much more and is not a high interest currency (and we may get a surprise rate cut later his year). I hope your broker is paying interest on your account balance at all, otherwise I would suggest switching.

2. You protect yourself against losing all your money because your broker is going belly-up. Money is safer in an federally insured commercial bank (at least in Europe, do not know about the US).

3. During a major economic crisis you can still rely on your precious metals because they will double or triple in value. If you consider buying gold, buy bars or coins and not paper gold (shares of Gold companies or ETFs holding gold). This is much safer.

Sorry for this slightly off-topic post. I hope it's interesting to some of you.

Now back to the beast!

Good luck,
k
  • #8,447
  • Aug 15, 2007 11:30am Aug 15, 2007 11:30am
Quoting auslanco
It's safe to go long on 1hr 5sma. But be careful as always
Thanks. It's really amazing that it went this far, considering how bearish it was last night! Cheers. BR
  • #8,448
  • Aug 15, 2007 11:30am Aug 15, 2007 11:30am
"If the 5min QQE crosses the 50 line it turns into something more than a retracement, am I right Auslanco?"

Quoting auslanco
I confirm the reversals on 30 min and 1hr SI(QQE) cross downs
Got my answer
  • #8,449
  • Aug 15, 2007 11:31am Aug 15, 2007 11:31am
Quoting danryman78
which price ?
sorry
Danryman, you keep asking this question everytime we mention a retracement so i decided to take you through it , in case it helps!

1- go to your indicators , choose Moving averages
2- create a 5 simple , at close MOving average (you type five and chose the other 2)
3- the line that will be drawn will be the 5SMA we talk about
4- if you move your cursor to the tip of this line at any point, that level will be the 5SMA at this particular bar on that given time frame.


hope i helped you, if not le me know if i can explain it better I surely would.
  • #8,450
  • Aug 15, 2007 11:32am Aug 15, 2007 11:32am
Aussie - Don't mean to change the topic or bring this here but just out of curiosity, what is going on with your C2 system GFCM????? I was tracking it, and now ?????
  • #8,451
  • Aug 15, 2007 11:34am Aug 15, 2007 11:34am
Quoting zoheir
yes, if it goes past the 5sma on 30M for example , you don't consider this a retracement cause it can simply be a reversal and the price will continue down....so what you do in that case , you go up one time frame, 1H in this case and look if the price will hold at 5SMA on 1H chart or not, sometimes I go up to 1D charts looking for retracement cause all the previous TF didn't hold the price 2 5SMA
Got it, see if the next tf can hold at 5sma or not, if it keeps on passing 5sma on each tf, maybe a reversal.
  • #8,452
  • Aug 15, 2007 11:35am Aug 15, 2007 11:35am
thanks my friend
but i had known
thanks again
  • #8,453
  • Aug 15, 2007 11:35am Aug 15, 2007 11:35am
Quoting digitizer123
Aussie - Don't mean to change the topic or bring this here but just out of curiosity, what is going on with your C2 system GFCM????? I was tracking it, and now ?????
PM... I will give you some details
  • #8,454
  • Aug 15, 2007 11:36am Aug 15, 2007 11:36am
Quoting Kane Rai
Just a quick tip for newbies:

Since most of you probably have your trading account in USD I would suggest that once you made good profits you withdraw all funds that you do not need for your positions and store it outside of your broker. I suggest having 30% in the currency that you need to live on, 30% in a hard currency with good fundamentals (Loonie or Aussie comes to mind) and the rest in precious metals (preferably gold).

This will help you in many ways:

1. The USD is going to depreciate much more and is not a high interest currency (and we may get a surprise rate cut later his year). I hope your broker is paying interest on your account balance at all, otherwise I would suggest switching.

2. You protect yourself against losing all your money because your broker is going belly-up. Money is safer in an federally insured commercial bank (at least in Europe, do not know about the US).

3. During a major economic crisis you can still rely on your precious metals because they will double or triple in value. If you consider buying gold, buy bars or coins and not paper gold (shares of Gold companies or ETFs holding gold). This is much safer.

Sorry for this slightly off-topic post. I hope it's interesting to some of you.

Now back to the beast!

Good luck,
k

Kane hi - when you talk about a depreciation in USD, what currencies are you talking about it depreciating against? For my money, AUD, EUR, GBP, for example, are going to depreciated in a spectacular fashion over the next few weeks. JPY, of course, is the opposite.
  • #8,455
  • Aug 15, 2007 11:36am Aug 15, 2007 11:36am
Quoting Kane Rai
Just a quick tip for newbies:

Since most of you probably have your trading account in USD I would suggest that once you made good profits you withdraw all funds that you do not need for your positions and store it outside of your broker. I suggest having 30% in the currency that you need to live on, 30% in a hard currency with good fundamentals (Loonie or Aussie comes to mind) and the rest in precious metals (preferably gold).

This will help you in many ways:

1. The USD is going to depreciate much more and is not a high interest currency (and we may get a surprise rate cut later his year). I hope your broker is paying interest on your account balance at all, otherwise I would suggest switching.

2. You protect yourself against losing all your money because your broker is going belly-up. Money is safer in an federally insured commercial bank (at least in Europe, do not know about the US).

3. During a major economic crisis you can still rely on your precious metals because they will double or triple in value. If you consider buying gold, buy bars or coins and not paper gold (shares of Gold companies or ETFs holding gold). This is much safer.

Sorry for this slightly off-topic post. I hope it's interesting to some of you.

Now back to the beast!

Good luck,
k

Great advice. While reading your post, my 1871 gold double eagle arrived in the mail. It is nice to hold REAL money while playing with this electronic phony money.
  • #8,456
  • Aug 15, 2007 11:38am Aug 15, 2007 11:38am
Quoting trader8686
Got it, see if the next tf can hold at 5sma or not, if it keeps on passing 5sma on each tf, maybe a reversal.
that's right, or to be precise, if it keeps passing 5SMA it sure isn't a retracement, for a reversal confirmation, you might want to use Aus method , I decide on reversal according to price action.
  • #8,457
  • Aug 15, 2007 11:38am Aug 15, 2007 11:38am
Quoting trader8686
Got it, see if the next tf can hold at 5sma or not, if it keeps on passing 5sma on each tf, maybe a reversal.
You cant determine a reversal by just 5 sma. There are few other things such as 1hr SI, and lower TF' s and so on , to confirm a reversal. Just to let everyone know.
  • #8,458
  • Aug 15, 2007 11:39am Aug 15, 2007 11:39am
Quoting bluerose
Thanks. It's really amazing that it went this far, considering how bearish it was last night! Cheers. BR

It went up to the previous support line (MA730, 8hrs)...as would be expected, when you think about it. (I wasn't paying attention till too late on that!)
  • #8,459
  • Aug 15, 2007 11:39am Aug 15, 2007 11:39am
Quoting Richardj
Kane hi - when you talk about a depreciation in USD, what currencies are you talking about it depreciating against? For my money, AUD, EUR, GBP, for example, are going to depreciated in a spectacular fashion over the next few weeks. JPY, of course, is the opposite.
Swiss currency is the only global currency which is actually partially backed by gold. Fundementally, it should hold up better in a deflationary period better than any other currency.
  • #8,460
  • Aug 15, 2007 11:40am Aug 15, 2007 11:40am
Dow closes 2 pm EST right?
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