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

  • #31,581
  • Sep 24, 2007 10:49pm Sep 24, 2007 10:49pm
I know some here don't believe in pivots, I like them. I like weekly and Hakuna's Monthly. You can see how price came down from weekly resistance (green line) danced on the monthly pivot (pink line) then down to weekly pivot (blue line) and came down to kiss weekly support (red line) before bouncing back up.
Attached Image (click to enlarge)
Click to Enlarge Name: kkk.gif Size: 23 KB
  • #31,582
  • Sep 24, 2007 10:54pm Sep 24, 2007 10:54pm
I don't know if this has already been noted, but some of the differences in nominating pivots may be due to whether the price stated is BID or ASK.
Perhaps that could be clarified.
Personally they appear very useful to me...
always nice to make pips - happy days
  • #31,583
  • Sep 24, 2007 11:06pm Sep 24, 2007 11:06pm

I use the weekly pivots on 4hr charts for trend clarity. As you can see the current 4hr bar bounced off from the "mid level support" @ 230.75 (which is also the Daily support 1 -Tokyo) . Weekly support- 1 is sitting at 229.60 area.

Please note.. I dont use the weekly pivots for intra-day trading. I only use the Daily pivots.

P's: on the below attachment.. the green Moving average is not the 100sma as stated(typo).. it should be corrected to 200EMA
Attached Image (click to enlarge)
Click to Enlarge Name: 4hr pivot.jpg Size: 67 KB
  • #31,584
  • Sep 24, 2007 11:11pm Sep 24, 2007 11:11pm
Interesting price action during the past 20 min or so, watching the 1 min time frame. First a retrace up to the 1 hour 5SMA. Then after going back down it shoots up again and catches the 30 min 5SMA.

I'd like to see it test the daily low next.
  • #31,585
  • Sep 24, 2007 11:18pm Sep 24, 2007 11:18pm
Quoting lepiricus
I know some here don't believe in pivots, I like them. I like weekly and Hakuna's Monthly. You can see how price came down from weekly resistance (green line) danced on the monthly pivot (pink line) then down to weekly pivot (blue line) and came down to kiss weekly support (red line) before bouncing back up.

i personally use only monthly and weekly pivots--works like magic nearly everytime
ive spoken a lot about montthly pivots
apply the same to weekly pivots--just bearing in mind they are less powerful then monthly ones
  • #31,586
  • Sep 24, 2007 11:22pm Sep 24, 2007 11:22pm
The 4 hour bar closed at 230.86.

My new 4 hour bar shows a 5SMA of 231.59, and I'll probably keep my SL comfortably above that.
  • #31,587
  • Sep 24, 2007 11:27pm Sep 24, 2007 11:27pm
aus--whers ypour daily piv?
  • #31,588
  • Sep 24, 2007 11:28pm Sep 24, 2007 11:28pm
can someone post me here the mt 4 pivot indicator and what time zone u calculating from
thanks
  • #31,589
  • Sep 24, 2007 11:35pm Sep 24, 2007 11:35pm
Asian 19EST / 1:00 Server
London & US 04EST / 10:00 Server
US (after London close) 8EST / 2:00 Server
Attached File(s)
File Type: mq4 Pivot Points.mq4   10 KB | 327 downloads
  • #31,590
  • Sep 24, 2007 11:37pm Sep 24, 2007 11:37pm
Not GJ, but a something to think about in regards to USD/CAD. If the GM strike lasts more than a day or two, it is estimated that there could be a possibility of 100,000 layoffs in Canada. This would be a very large economic hit to the canadian economy, and would likely weaken the canadian dollar.

http://ca.news.yahoo.com/s/reuters/0..._col&printer=1
  • #31,591
  • Sep 24, 2007 11:37pm Sep 24, 2007 11:37pm
Quoting Gandolf
Asian 19EST / 1:00 Server
London & US 04EST / 10:00 Server
US (after London close) 8EST / 2:00 Server
Is your daily pivot around 232.46, like mine? Thanks!
  • #31,592
  • Sep 24, 2007 11:37pm Sep 24, 2007 11:37pm
Quoting Hakuna Matata
aus--whers ypour daily piv?
232.54 area. Bro, Have you given up on VT?
  • #31,593
  • Sep 24, 2007 11:44pm Sep 24, 2007 11:44pm
Quoting katarche
I don't know if this has already been noted, but some of the differences in nominating pivots may be due to whether the price stated is BID or ASK.
Perhaps that could be clarified.
Personally they appear very useful to me...
always nice to make pips - happy days
Good question about bid and ask. Other differences I've noticed come from using different brokers (because of different data), and also from calculating them on different time frames. Platforms might be another variable, if they use a slightly different formula.
  • #31,594
  • Sep 24, 2007 11:46pm Sep 24, 2007 11:46pm
Quoting Gandolf
Asian 19EST / 1:00 Server
London & US 04EST / 10:00 Server
US (after London close) 8EST / 2:00 Server

London has to be corrected to 3 EST . 4est was a typo.
  • #31,595
  • Sep 24, 2007 11:46pm Sep 24, 2007 11:46pm
Quoting auslanco
232.54 area. Bro, Have you given up on VT?

yeah man-- i love mt4 and all the indicators and everything associated with it-- just didnt get that feel for VT--plus took space on the 5 screen setup ive got ---lol. i just kinda know mt4 a lot in detail and couldnt be arsed learning VT.
ill let u guide me on VT and ill take care of mt4

im actually in the middle of backtesting visually a brkout strategy --complimenting what we already use. ill update u if its worth it.
  • #31,596
  • Sep 24, 2007 11:47pm Sep 24, 2007 11:47pm
Quoting Gandolf
Asian 19EST / 1:00 Server
London & US 04EST / 10:00 Server
US (after London close) 8EST / 2:00 Server

thanks buddy
  • #31,597
  • Sep 24, 2007 11:50pm Sep 24, 2007 11:50pm
Interesting, if nothing else. The 4HR chart, as has been pointed out, could indicate a repeat of the last time we met the TL (note the current 4HR bar and the previous 4HR bar.) And, nearly perfect agreement in QQE's, Stoch, MoM, etc.

http://www.forexfactory.com/attachme...1&d=1190695774
Attached Image (click to enlarge)
Click to Enlarge Name: guppy4hr.gif Size: 16 KB
  • #31,598
  • Sep 24, 2007 11:52pm Sep 24, 2007 11:52pm
Quoting Hakuna Matata
just didnt get that feel for VT--plus took space on the 5 screen setup ive got -

Hmm.. traitor

Melbourne Storm
  • #31,599
  • Sep 24, 2007 11:55pm Sep 24, 2007 11:55pm
Quoting auslanco
Hmm.. traitor

Melbourne Storm

  • #31,600
  • Sep 24, 2007 11:55pm Sep 24, 2007 11:55pm
The 30 min QQE may have just turned bullish. But if price settles back down it should too.
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