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

  • #16,201
  • Aug 27, 2007 4:04pm Aug 27, 2007 4:04pm
Quoting rumbey
Hi Karmo,

I also got to my target of 235.40 and reversed early this morning. My next fib level is 231.68. How do you get 232.60 please

Regards
David
232.60 is a 61.8% fibo from the most recent climb (08/24/2007 03:00 EST to 08/26/2007 20:00 EST)

along with 61.8% fibo on a daily chart from 03/06/2007 to 07/20/2007
  • #16,202
  • Aug 27, 2007 4:05pm Aug 27, 2007 4:05pm
Quoting keramikus
Folks, query for you: is 4hr / 1 hr tft crossover with qqe confirmation completely valid with current situation of low volatility e.g. range going market? I mean we`ll probably get 4 hr gann signal, but it will be a product of a ranging market.
Typically in a ranging market, then you will see that the smaller timeframes are in disagreement with the 1H/4H. In this case then usually I would stay away from a strategy trade until all the indicators are in agreement on 5M, 15M, 30M as well as 1H/4H.
  • #16,203
  • Aug 27, 2007 4:05pm Aug 27, 2007 4:05pm
Quoting sdot
hmm it seems like 4hr Strength has crossed down, and is below the TFT, and also 1HR strength has crossed below 50. arent we looking at a pretty clear cut short? or have i missed something?

This forming H4 candle is the confirmation candle. Therefore according to the strategy we have to wait for the candle close...
  • #16,204
  • Aug 27, 2007 4:05pm Aug 27, 2007 4:05pm
Finally EJ broke is low , all J pairs have broken their low of the day
I hope we are all ready for the fall
COT: The precious data ignored
  • #16,205
  • Aug 27, 2007 4:07pm Aug 27, 2007 4:07pm
Thains Brok
  • #16,206
  • Aug 27, 2007 4:09pm Aug 27, 2007 4:09pm
Quoting auslanco
Thains Brok

Nop
  • #16,207
  • Aug 27, 2007 4:10pm Aug 27, 2007 4:10pm
Quoting rumbey
Hi Karmo,

I also got to my target of 235.40 and reversed early this morning. My next fib level is 231.68. How do you get 232.60 please

Regards
David
Hi, dont get hung up on absolute levels. Prices and fib lines vary from chart to chart and feed to feed and then how you personally draw them and interpret them.
  • #16,208
  • Aug 27, 2007 4:13pm Aug 27, 2007 4:13pm
OK guys I went short short @ 233.05
  • #16,209
  • Aug 27, 2007 4:15pm Aug 27, 2007 4:15pm
Quoting brok
Nop

sorry rs5 sent me a mesage.. Thaks you both
  • #16,210
  • Aug 27, 2007 4:15pm Aug 27, 2007 4:15pm
as this is so sloooooooooow going down I just thought that on the fibs issue 231.61 is my level ( ish) for 61.8 based on hourly which matches up nicely with 38.2 on the 4 hour. As we know, the GJ like retracements between 61.8 and 78.6 so beware in the 232.61 and 231.81.
  • #16,211
  • Aug 27, 2007 4:18pm Aug 27, 2007 4:18pm
4hr bar formed below the Gann Line.. But I took short position with tight SL.. Since I can see a good 1hr momentum to the down side. You also o can wait until the current 4hr Bar confirms below the Gann Line
  • #16,212
  • Aug 27, 2007 4:18pm Aug 27, 2007 4:18pm
Quoting auslanco
OK guys I went short short @ 233.05
aiming for 200-300 pips bro?
Trade what you see, not what you think.
  • #16,213
  • Aug 27, 2007 4:19pm Aug 27, 2007 4:19pm
Aus....how many + pips before you set a tp of at least 10 or so?
  • #16,214
  • Aug 27, 2007 4:20pm Aug 27, 2007 4:20pm
233.70 hit

Now let's hit 233.30
COT: The precious data ignored
  • #16,215
  • Aug 27, 2007 4:20pm Aug 27, 2007 4:20pm
Sweet.
  • #16,216
  • Aug 27, 2007 4:21pm Aug 27, 2007 4:21pm
Quoting auslanco
OK guys I went short short @ 233.05
I thought the 4 hour candle had to finish it's 4 hour 1st ? What made you enter Aus? ....thanks
  • #16,217
  • Aug 27, 2007 4:21pm Aug 27, 2007 4:21pm
Quoting auslanco
OK guys I went short short @ 233.05
Crap I was out thinking that this will play out longer but now is clear that we will have a fall I don't know what TP to set so I just put something around 100 sma on 1H
The ideal place to short would have been where price touched the 4H downward trendline, I just hope now that the 4H QQE will cross down to be sure it will reach my TP
http://img231.imageshack.us/img231/3818/short3if7.gif
  • #16,218
  • Aug 27, 2007 4:24pm Aug 27, 2007 4:24pm
...and there is our mini bounce.
"Only when the tide goes out will we know who is swimming naked."
  • #16,219
  • Aug 27, 2007 4:24pm Aug 27, 2007 4:24pm
price bounced off 232.40 just like I anticipated, now let's see if it holds..
Trade what you see, not what you think.
  • #16,220
  • Aug 27, 2007 4:26pm Aug 27, 2007 4:26pm
Quoting karmostaji
price bounced off 232.40 just like I anticipated, now let's see if it holds..

I believe in the power of the bears
COT: The precious data ignored
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