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

  • #38,661
  • Oct 10, 2007 2:03am Oct 10, 2007 2:03am
Quoting Zoran
Nice one, thanks for that! I can see price is stuggling to move to higher grounds. Temporary?
I might short it if it spikes up close to 166, seems like a promising trade.
Trade what you see, not what you think.
  • #38,662
  • Oct 10, 2007 2:06am Oct 10, 2007 2:06am
hi Zoran

ive explained the butterfly on the pic + see analysis here:
http://www.forexfactory.com/showthre...t=49770&page=4

the ideal bearish butterfly reversal can happen at 2 spots on the daily: at 127% fib or 161.8% fib of XA
Attached Image (click to enlarge)
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  • #38,663
  • Oct 10, 2007 2:09am Oct 10, 2007 2:09am
and the same butterfly on 4hr
Attached Image (click to enlarge)
Click to Enlarge Name: 4hrbb.gif Size: 51 KB
  • #38,664
  • Oct 10, 2007 2:12am Oct 10, 2007 2:12am
Quoting Hakuna Matata
hi Zoran

ive explained the butterfly on the pic + see analysis here:
http://www.forexfactory.com/showthre...t=49770&page=4

the ideal bearish butterfly reversal can happen at 2 spots on the daily: at 127% fib or 161.8% fib of XA
Yes, but the B point is not at 78.6, that's why I did not see it. The B point is the most important for me. I also like it to be pretty much to the pip.
  • #38,665
  • Oct 10, 2007 2:15am Oct 10, 2007 2:15am
the hrly candle formation i see right now is quite powerful--bullish
240.50 looks like its goin to be booked
+ my new 4hr candle just started 15min ago and the prv candle looks like a BIG bully bullish
  • #38,666
  • Oct 10, 2007 2:16am Oct 10, 2007 2:16am
Yepp, same on 30 mins
Attached Image (click to enlarge)
Click to Enlarge Name: butterflu.jpg Size: 211 KB
  • #38,667
  • Oct 10, 2007 2:18am Oct 10, 2007 2:18am
Quoting Zoran
Yes, but the B point is not at 78.6, that's why I did not see it. The B point is the most important for me. I also like it to be pretty much to the pip.

ummm-not for me---B point can be anywhere btw 78.6 and 88.6
more over --all should note-- reversals in harmonic patterns have to be confirmed by other indiactors too---to increase the profitability ratio over failed patterns
  • #38,668
  • Oct 10, 2007 2:18am Oct 10, 2007 2:18am
Quoting auslanco
Yepp, same on 30 mins
Now that's an ideal butterfly. :
  • #38,669
  • Oct 10, 2007 2:21am Oct 10, 2007 2:21am
ps--why didnt u take your 15min strat trade bro??--as i can see it--it worked out nicely
entry would have been 239.00/10ish somehwre there
  • #38,670
  • Oct 10, 2007 2:21am Oct 10, 2007 2:21am
Quoting Hakuna Matata
ummm-not for me---B point can be anywhere btw 78.6 and 88.6
more over --all should note-- reversals in harmonic patterns have to be confirmed by other indiactors too---to increase the profitability ratio over failed patterns
Yep, that's why I use harmonics as secondary indicators.

I tend to follow the fib ratios on the harmonic trader site.
  • #38,671
  • Oct 10, 2007 2:21am Oct 10, 2007 2:21am
Quoting Zoran
Now that's an ideal butterfly. :

lol-

-bro-- i see your pattern too and understand where ure comin from--ty for the update
  • #38,672
  • Oct 10, 2007 2:22am Oct 10, 2007 2:22am
Quoting auslanco
Yepp, same on 30 mins
hehehe..
lol
  • #38,673
  • Oct 10, 2007 2:26am Oct 10, 2007 2:26am
Quoting Hakuna Matata
ps--why didnt u take your 15min strat trade bro??--as i can see it--it worked out nicely
entry would have been 239.00/10ish somehwre there
I didnt expect the price to go over 239.50 daily R1. I guess I was wrong. anyhow.. no harm done to my account. 4hr 5sma retracement is due.. Looking forward for a short scalp.
  • #38,674
  • Oct 10, 2007 2:29am Oct 10, 2007 2:29am
Didn't we have a 1hr/4hr strategy trade at the last 4hr candle?

PT
  • #38,675
  • Oct 10, 2007 2:35am Oct 10, 2007 2:35am
240.50 is also weekly R1
Trade what you see, not what you think.
  • #38,676
  • Oct 10, 2007 2:37am Oct 10, 2007 2:37am
Quoting karmostaji
240.50 is also weekly R1
240.20 .
  • #38,677
  • Oct 10, 2007 2:38am Oct 10, 2007 2:38am
Quoting PTOURNIS
Didn't we have a 1hr/4hr strategy trade at the last 4hr candle?

PT
On VT yes. But I will pass it this time since 30mon QQE5 is on OB levels.
  • #38,678
  • Oct 10, 2007 2:45am Oct 10, 2007 2:45am
I'm expecting a bounce off 240.20 (south).
  • #38,679
  • Oct 10, 2007 2:46am Oct 10, 2007 2:46am
Quoting Zoran
I'm expecting a bounce off 240.20 (south).
do you have your money to went south at that price too ?
  • #38,680
  • Oct 10, 2007 2:52am Oct 10, 2007 2:52am
Quoting Syafi
do you have your money to went south at that price too ?
Yes, I put some money on a short
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