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

  • #18,581
  • Aug 29, 2007 10:35pm Aug 29, 2007 10:35pm
Quoting auslanco
which candle, showme, showme ,showme
if you show me yours , I'll show you mine..
oh aus, u sound like a kid in a lollishop. That scalping method of yours must be multiplying ur cash stash! Sorry for the non-trading post, couldn't help myself! :
  • #18,582
  • Aug 29, 2007 10:35pm Aug 29, 2007 10:35pm
Quoting karmostaji
I have so many lines drawn on my chart, but I see price go to 231.50, maybe lower maybe not


Karmo, could I ask you a question?

According to my fib measurements of this big retrace since yesterday, I was very surprised to get the EXACTLY the same prices for fib 38.2, 50.0 and 61.80 from 1 hour, 4 hours and 8 hours! Isn't that really weird?

I noticed something a bit similar on the way yesterday - and wondered if that had anything to do with the incredible speed and distance of yesterday's rise...

Anyway - please could you tell me what it means?

Thanks
  • #18,583
  • Aug 29, 2007 10:37pm Aug 29, 2007 10:37pm
Quoting kally
oh aus, u sound like a kid in a lollishop. That scalping method of yours must be multiplying ur cash stash! Sorry for the non-trading post, couldn't help myself! :
yehh that trade made my day.. no -effort profits
  • #18,584
  • Aug 29, 2007 10:38pm Aug 29, 2007 10:38pm
Quoting Richardj
Karmo, could I ask you a question?

According to my fib measurements of this big retrace since yesterday, I was very surprised to get the EXACTLY the same prices for fib 38.2, 50.0 and 61.80 from 1 hour, 4 hours and 8 hours! Isn't that really weird?

I noticed something a bit similar on the way yesterday - and wondered if that had anything to do with the incredible speed and distance of yesterday's rise...

Anyway - please could you tell me what it means?

Thanks

Just to clarify... for example, I got 230.96 from 1h, 4h and 8 hours.
  • #18,585
  • Aug 29, 2007 10:39pm Aug 29, 2007 10:39pm
Quoting Richardj
Karmo, could I ask you a question?

According to my fib measurements of this big retrace since yesterday, I was very surprised to get the EXACTLY the same prices for fib 38.2, 50.0 and 61.80 from 1 hour, 4 hours and 8 hours! Isn't that really weird?

I noticed something a bit similar on the way yesterday - and wondered if that had anything to do with the incredible speed and distance of yesterday's rise...

Anyway - please could you tell me what it means?

Thanks
Sure you can

can you tell me the high/low of the fib you drew? and which 38.2, 50, and 61.8 are overlapping? and at what price?

To me whenever there is overlapping of fibs, it means that this area might be a strong support/resistance area
Trade what you see, not what you think.
  • #18,586
  • Aug 29, 2007 10:40pm Aug 29, 2007 10:40pm
Quoting Richardj
Just to clarify... for example, I got 230.96 from 1h, 4h and 8 hours.
I have 1 fib at this price, it is the 50% fib level from this last bull-run
Trade what you see, not what you think.
  • #18,587
  • Aug 29, 2007 10:40pm Aug 29, 2007 10:40pm
we will have a 1hr QQE 50line touch down trade for longs
  • #18,588
  • Aug 29, 2007 10:45pm Aug 29, 2007 10:45pm
Quoting auslanco
yehh that trade made my day.. no -effort profits
Aus, I saw your screenshot of the scalp trade. What is your signal? Is it both QQE indicators crossing up or down? Then once a 5SMA retrace happens you make sure they still confirm the action before you get in?
  • #18,589
  • Aug 29, 2007 10:46pm Aug 29, 2007 10:46pm
Quoting karmostaji
Sure you can

can you tell me the high/low of the fib you drew? and which 38.2, 50, and 61.8 are overlapping? and at what price?

To me whenever there is overlapping of fibs, it means that this area might be a strong support/resistance area

From 227.40 to 234.52

prices shared by 1, 4 and 8hr were:

231.80; 230.96; 230.12
  • #18,590
  • Aug 29, 2007 10:49pm Aug 29, 2007 10:49pm
Quoting karmostaji
Sure you can

can you tell me the high/low of the fib you drew? and which 38.2, 50, and 61.8 are overlapping? and at what price?

To me whenever there is overlapping of fibs, it means that this area might be a strong support/resistance area

What I didn't explain very clearly was that when I was trying to calculate fibs yesterday to estimate how high GJ would rise, I noticed a similar type of confluence... not so accurately as the ones I gave - but a bit similar.

Then, as you've seen from the graphs, we had the quite incredible rise... and I had half-expected you to say that when you got this kind of confluence on all three of these fibs, you could expect a really strong rise - or fall, as the case may be.
  • #18,591
  • Aug 29, 2007 10:49pm Aug 29, 2007 10:49pm
Quoting auslanco
we will have a 1hr QQE 50line touch down trade for longs

Aus

Regarding your scalping method the indicators QQE1 & QQE5, Reverse stop..you set this ONLY on the 5 min chart and you ONLY use the 30 min chart to confirm bullish or bearish for the scalp and enter at 5sma on 30 min chart? I just want to make sure I have the chart set correct since the chart you posted was a bit difficult to read.

Also did you visit DailyFX?

Thanks.

sw
The Will is Greater than the Skill
  • #18,592
  • Aug 29, 2007 10:50pm Aug 29, 2007 10:50pm
Quoting brucehvn
Aus, I saw your screenshot of the scalp trade. What is your signal? Is it both QQE indicators crossing up or down? Then once a 5SMA retrace happens you make sure they still confirm the action before you get in?
its a combination of many indicators,S/R etcetc.. gives you arrows.. so very easy to spot. I will post it once I finish testing.. Hoping to post it in another 3 weeks , 1 day before I go for my 1month holidays. so I dont have to answer million silly questions:
  • #18,593
  • Aug 29, 2007 10:50pm Aug 29, 2007 10:50pm
Quoting Richardj
From 227.40 to 234.52

prices shared by 1, 4 and 8hr were:

231.80; 230.96; 230.12
But Richard, if you draw the fibs from the same hi/lo prices on all three timeframes, then the fib lines will be at the same level on all three. All it really means is that the swing high and swing low you are using to draw the fibs happened in the first hour or last hour of an 8 hour period. That could make them the highest swing high and lowest swing low on the 1H, 4H, and 8H charts.
  • #18,594
  • Aug 29, 2007 10:50pm Aug 29, 2007 10:50pm
this has started to show bearish signs for today
im waiting for the 4hr candle to close on my other mt4 platform in 10min
  • #18,595
  • Aug 29, 2007 10:51pm Aug 29, 2007 10:51pm
Quoting auslanco
we will have a 1hr QQE 50line touch down trade for longs
Whats your take on the price range for the 1HR 50line touchdown?
  • #18,596
  • Aug 29, 2007 10:56pm Aug 29, 2007 10:56pm
Quoting brucehvn
But Richard, if you draw the fibs from the same hi/lo prices on all three timeframes, then the fib lines will be at the same level on all three. All it really means is that the swing high and swing low you are using to draw the fibs happened in the first hour or last hour of an 8 hour period. That could make them the highest swing high and lowest swing low on the 1H, 4H, and 8H charts.

That seems strange.... really? But even though I've got very little experience in doing fibs - only about a week's worth - I've many times drawn from the same price to the same price for those three different time intervals - and I've NEVER got the same results for all three - or even anywhere near it (for all three).
  • #18,597
  • Aug 29, 2007 10:57pm Aug 29, 2007 10:57pm
Quoting skillwill
Aus

Regarding your scalping method the indicators QQE1 & QQE5, Reverse stop..you set this ONLY on the 5 min chart and you ONLY use the 30 min chart to confirm bullish or bearish for the scalp and enter at 5sma on 30 min chart? I just want to make sure I have the chart set correct since the chart you posted was a bit difficult to read.

Also did you visit DailyFX?

Thanks.

sw
(5 mins charts)


QQE 5
QQE 1(QQE alert-download from my strategy thread-VT)
Lvel stop on VT default
Level stop modified (Values ATR multiplier 4 ATR Periods 21) - download from the very first post on this thread(zipfile)
Gann 10
5 sma

Trend confirmation 30 mins for 20-30 pips
Trend confirmation 30min & 4hr for 50-100pips

Strategy rules.. watch and observe, untill I post the full set up

Buy @ 5sma on the next confirmation bar after all three signals(arrows) line up
sell vice versa
  • #18,598
  • Aug 29, 2007 10:58pm Aug 29, 2007 10:58pm
Quoting Timingy
Whats your take on the price range for the 1HR 50line touchdown?
around 231
  • #18,599
  • Aug 29, 2007 10:58pm Aug 29, 2007 10:58pm
Quoting karmostaji
I have 1 fib at this price, it is the 50% fib level from this last bull-run

Karmo, you measure from and to the same two prices, for different time scales, don't you?

(re the response just now, saying that I'm bound to get the same results from different time intervals).

Did you find that you got the same 'matching' three prices that I gave you just now, for the 1, 4 and 8 hours on this latest bull run?
  • #18,600
  • Aug 29, 2007 11:02pm Aug 29, 2007 11:02pm
To me, based on the fibs I just gave, I think we will definitely achieve 230.96 - and very likely the lowest of the three, 230.12.

(In fact, I suspect this is going to be a very big drop - maybe well below any of these fibs).
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