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

  • #21,861
  • Sep 5, 2007 11:51am Sep 5, 2007 11:51am
Quoting khaled22
what you mean by bar is closed more explain please
I mean when this current 1hr candle closes
Trade what you see, not what you think.
  • #21,862
  • Sep 5, 2007 11:52am Sep 5, 2007 11:52am
Quoting Pips_Cruiser
Using 15M strategy, long @ 233.12.

Current 15M 5SMA is 233.04.

Ron http://www.forexfactory.com/images/icons/icon14.gif
im still new to the 15 min. strategy....what are you using for your SL and TP
  • #21,863
  • Sep 5, 2007 11:53am Sep 5, 2007 11:53am
Looking to LONG G/J if the upper line breaks (this is the lower channel line from yesterday's chart).
Attached Image (click to enlarge)
Click to Enlarge Name: guppy5min.gif Size: 17 KB
  • #21,864
  • Sep 5, 2007 12:00pm Sep 5, 2007 12:00pm
Dow is down 130 pts and g/j still goes up? I'm sure Markam is loving this.
  • #21,865
  • Sep 5, 2007 12:01pm Sep 5, 2007 12:01pm
Whats going on man, How come this beast is up now. Dow is in opposite direction. Any idea whats going on.

I think lots of people have stopped out for short position.
  • #21,866
  • Sep 5, 2007 12:01pm Sep 5, 2007 12:01pm
Right now, its not looking so great for the bears. However, the dow is still down 140 points, and we still have the beige book release. This thing is going to be examined with a microscope to see if there is any clue about the rate decision. it could have a big impact on the the stock market, and on GJ.

I am going to hold my shorts at least until 2, then see what the market reaction is.
  • #21,867
  • Sep 5, 2007 12:02pm Sep 5, 2007 12:02pm
Quoting sajmeri
Whats going on man, How come this beast is up now. Dow is in opposite direction. Any idea whats going on.

I think lots of people have stopped out for short position.
The dow is up 50 points from its low. That is why GJ has been climbing.
  • #21,868
  • Sep 5, 2007 12:05pm Sep 5, 2007 12:05pm
Quoting holland_j
im still new to the 15 min. strategy....what are you using for your SL and TP
SL = the price right below the confirmation bar @ TFT line = 232.45
TP = open price of confirmation bar - SL multiply by 2 (233.07-232.45 = 62x2=124pips)

Long @233.08
SL 232.45
TP 234.32

however, i put my TP at 233.69 ( since i see a resistance there,
fib confluence, Fib 61.8 (TF 30M) and Fib 50 (TF H1)
  • #21,869
  • Sep 5, 2007 12:06pm Sep 5, 2007 12:06pm
This is normal for the dow, it usually puts in a low then rally's and vice versa.
Nice big swings, easier to trade than gbp/jpy imo.
"Only when the tide goes out will we know who is swimming naked."
  • #21,870
  • Sep 5, 2007 12:06pm Sep 5, 2007 12:06pm
Quoting markam
Right now, its not looking so great for the bears. However, the dow is still down 140 points, and we still have the beige book release. This thing is going to be examined with a microscope to see if there is any clue about the rate decision. it could have a big impact on the the stock market, and on GJ.

I am going to hold my shorts at least until 2, then see what the market reaction is.
Markam I'm sure you have connections and can get a copy of the green book and blue book as well. now that will be something
  • #21,871
  • Sep 5, 2007 12:06pm Sep 5, 2007 12:06pm
Stalling because support turns into resistance:
http://www.forexfactory.com/attachme...1&d=1189011977
Attached Image
  • #21,872
  • Sep 5, 2007 12:08pm Sep 5, 2007 12:08pm
Quoting khaled22
hala what you mean by bar is closed more explain please
He means, when the bar is closed you have to go to the grocery store to buy your liquor instead.

M2B
  • #21,873
  • Sep 5, 2007 12:08pm Sep 5, 2007 12:08pm
Quoting khaled22
hala what you mean by bar is closed more explain please

The cross becomes officially a cross after the close of the candle Otherwise a decline in the price can make the cross uncross and you may be get stuck into a bad trade with a false signal
  • #21,874
  • Sep 5, 2007 12:08pm Sep 5, 2007 12:08pm
Quoting my2buoys
He means, when the bar is closed you have to go to the grocery store to buy your liquor instead.

M2B

  • #21,875
  • Sep 5, 2007 12:10pm Sep 5, 2007 12:10pm
Markham,

How do you decide SL so your are still in for 2 lots. Most of us are stopped out due to this hike.

Thanks in advance your advise defiantly help lots of newbee.
  • #21,876
  • Sep 5, 2007 12:10pm Sep 5, 2007 12:10pm
Quoting holland_j
im still new to the 15 min. strategy....what are you using for your SL and TP

Mate you better check the other thread "Aus' M15strategy" and bear in mind that it is a demo still
  • #21,877
  • Sep 5, 2007 12:12pm Sep 5, 2007 12:12pm
For the 15m strategy, on MT, I am using QQE_Alert_MTF_v5, TFT colour, MT4-LevelStop-Reverse-vB0-3 and although its drawing both dots and arrows I didnt get this last signal. Please someone tell me if I'm using the wrong versions...?

Cheers!
If you lose, I will grab your pips away
  • #21,878
  • Sep 5, 2007 12:12pm Sep 5, 2007 12:12pm
Quoting holland_j
im still new to the 15 min. strategy....what are you using for your SL and TP
- This is how Auslanco calculates them:

"Stop Loss: Right below the confirmation bar on the Gann Hi low Activator line.

"Take profit: Calculate the distance between OPEN price of the confirmation bar and the price of the Gann Hi low Activator (TFT line) at that point and multiply it by 2. (twice your stoploss)."

(I think I understand that.) ~
  • #21,879
  • Sep 5, 2007 12:13pm Sep 5, 2007 12:13pm
Quoting fanforex
SL = the price right below the confirmation bar @ TFT line = 232.45
TP = open price of confirmation bar - SL multiply by 2 (233.07-232.45 = 62x2=124pips)

Long @233.08
SL 232.45
TP 234.32

however, i put my TP at 233.69 ( since i see a resistance there,
fib confluence, Fib 61.8 (TF 30M) and Fib 50 (TF H1)
Thanks Bro!
  • #21,880
  • Sep 5, 2007 12:16pm Sep 5, 2007 12:16pm
Quoting holland_j
im still new to the 15 min. strategy....what are you using for your SL and TP
The plan calls for setting a SL at the Gann HiLo line, on the 15 min chart, according to the candle that it was activated at. So I'll use 232.44.

Then setting a TP that's twice as far from the entry point as the SL. The SL is 68 pips from my entry, so TP will be 136 pips higher than entry, and this comes to (233.12 + 136 = 234.48).

At least that's how I interpret it. You might want to check out Aus's description to see if you agree. I still consider myself a beginner who is learning, and seeing if the strategy works for me.

Ron http://www.forexfactory.com/images/icons/icon14.gif
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