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

  • #45,701
  • Oct 30, 2007 5:45am Oct 30, 2007 5:45am
Quoting AussieAl
hay Karmo. I would love for you to elaborate on what you said about it getting over the 70 in the QQE, b/c. it will be over bought. I haven't heard that before, only when people say watch the QQE.
Sure, whenever 1h or 4h QQE's reach overbought/oversold area, we see a good retracement (200-300) or a reversal. For example, yesterday when price reached the 61.8% fibo, 1h QQE was just touching the overbought area, then we had a bit of consolidation before 1h QQE started coming back down to 50 line and then crossing back upwards today and there is still more room to go up, so we might touch the next fibo/TL which are 238.00 - 238.40
Trade what you see, not what you think.
  • #45,702
  • Edited 5:55am Oct 30, 2007 5:51am | Edited 5:55am
Quoting karmostaji
Sure, whenever 1h or 4h QQE's reach overbought/oversold area, we see a good retracement (200-300) or a reversal. For example, yesterday when price reached the 61.8% fibo, 1h QQE was just touching the overbought area, then we had a bit of consolidation before 1h QQE started coming back down to 50 line and then crossing back upwards today and there is still more room to go up, so we might touch the next fibo/TL which are 238.00 - 238.40
So, when I look at the QQE window, and it gives me a reading of, say 72.4643, then are you saying it is an overbought signal and to watch for a reversal? Do I have that right, or is there something I am missing?

At themoment, the QQE on the 1 hr is reading 59.5291ish. So we look for the majic 70. I did look at the QQE yesterday, and it did retrace. Cool
There is no greater gift than to be a friend.
  • #45,703
  • Oct 30, 2007 5:54am Oct 30, 2007 5:54am
Quoting AussieAl
So, when I look at the QQE window, and it gives me a reading of, say 72.4643, then are you saying it is an overbought signal and to watch for a reversal? Do I have that right, or is there something I am missing?
Yes, a good retracement or reversal, but I don't fully rely on the QQE, I use all my other tools to confirm. Also watch how price bounces off the Gann hilo line, you can use it as support/resistance.
Trade what you see, not what you think.
  • #45,704
  • Oct 30, 2007 5:56am Oct 30, 2007 5:56am
Bermudas time
  • #45,705
  • Oct 30, 2007 6:04am Oct 30, 2007 6:04am
TY Karmo. I do use other indicators, however poorly sometimes. I do use the Gann hilo as supp/res. but sometimes get ahead of myself, and find myself entering a trade on the wrong side of the line. Done that 2 times today and both times were a killer. Need some of that patience indicator.
There is no greater gift than to be a friend.
  • #45,706
  • Oct 30, 2007 6:05am Oct 30, 2007 6:05am
Quoting Breeze
long @
235.80
235.25
235.60.....waiting.

Trades target projection @ 238.11.....i will lockin profits along the way to 238.11.....the next target will be 241.24

Profitable trading....this cow boy rocks.
Breeze
excellent call breeze. what a way to wake up!!! +95 on 1 position and +150 on another. THANKS BREEZE!!!!
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #45,707
  • Oct 30, 2007 6:08am Oct 30, 2007 6:08am
Quoting Breeze
Now Move protective stop to 236.90 for all trades with a protective stop....ADX now above 50%.....and Pivot now @ 236.86...Ress lvl's @ 237.09...237.25...237.48.....momentum....bullish.

long @
235.80.....stp @ 236.90
235.25.....stp @ 236.90
235.60.....stp @ 236.90
236.00.....stp @ 236.90
236.50.....stp @ 236.90

Profitable trading
Breeze
Congratulation breeze. A very good trade.

Just curious... did u buy the same lot size at the above price of different lot size for each trade.

thank you
  • #45,708
  • Oct 30, 2007 6:08am Oct 30, 2007 6:08am
Dow jones premarket is -37. Will that stop upward movement of g/j ?
  • #45,709
  • Oct 30, 2007 6:13am Oct 30, 2007 6:13am
Quoting Breeze
Now Move protective stop to 236.90 for all trades with a protective stop....ADX now above 50%.....and Pivot now @ 236.86...Ress lvl's @ 237.09...237.25...237.48.....momentum....bullish.

long @
235.80.....stp @ 236.90
235.25.....stp @ 236.90
235.60.....stp @ 236.90
236.00.....stp @ 236.90
236.50.....stp @ 236.90

Profitable trading
Breeze
Excellent trades Breeze and helpfull to see how you handle your trades (ie moving stops) along the way, with the supporting info giving credence to your trades.
  • #45,710
  • Oct 30, 2007 6:15am Oct 30, 2007 6:15am
Quoting karmostaji
I have a question Grandpa, what do we benefit from reading that you moved your stop-loss 10 pips? I'm not joking.
So all the army behind can be ready to pack the profit in the pockets .....
  • #45,711
  • Oct 30, 2007 6:19am Oct 30, 2007 6:19am
How far do people see this retrace going?
  • #45,712
  • Oct 30, 2007 6:20am Oct 30, 2007 6:20am
There is good support between 236.5 and 236.7 with luck it will hold.
  • #45,713
  • Oct 30, 2007 6:22am Oct 30, 2007 6:22am
C'mon New York, eat my shorts.

Sorry I had to say this, had a bad trading week : but I wish all of you well.
May the Pips be with You Let's Pimp some Pips!
  • #45,714
  • Oct 30, 2007 6:31am Oct 30, 2007 6:31am
Quoting Wolf.
There is good support between 236.5 and 236.7 with luck it will hold.
Thanks wolf - did you take this from the horizontal highs yesterday or something else?

Looks like it may be over already, so much for my short!!
  • #45,715
  • Oct 30, 2007 6:38am Oct 30, 2007 6:38am
Quoting PipNick
Thanks wolf - did you take this from the horizontal highs yesterday or something else?

Looks like it may be over already, so much for my short!!
Yes thats correct also I have a decline t/l (close) from the daily chart starting 23/01/07 giving support at around 236.75 which in my view is strong.

Your short may yet work out and hopfully you will manage some profit from it.
  • #45,716
  • Edited 7:09am Oct 30, 2007 6:53am | Edited 7:09am
IN SHORT WORDS WE TRIED TO RIDE UP TO 238.00 BUT MARKET IS BECOMING OVERBROUGHT >...STUDY A LITTLE MORE BEFORE LONGING(BUYING) I SEE BETTER(SHORTS) FROM 9AM UNTIL 1PM-2PM EST
Quoting turn1to100
236.61 IS BEST BREAK IN PREVIOUS HIGH WHICH SHOULD GET HIT BEFORE 9AM EST. IF WE HAVE BREAK WE WONT HAVE TO WORRY ABOUT POSSIBLE FALL FROM 9-1PM EST THEN RISE AGAIN
  • #45,717
  • Oct 30, 2007 6:56am Oct 30, 2007 6:56am
Quoting Breeze
Now Move protective stop to 236.90 for all trades with a protective stop....ADX now above 50%.....and Pivot now @ 236.86...Ress lvl's @ 237.09...237.25...237.48.....momentum....bullish.

long @
235.80.....stp @ 236.90
235.25.....stp @ 236.90
235.60.....stp @ 236.90
236.00.....stp @ 236.90
236.50.....stp @ 236.90

Profitable trading
Breeze
hello again everyone....!!!!....all trades closed @ 236.90....congratulations to those who followed....I am very happy with all lots @ 5 lots per trade....we made a killing....once again !!!Congratulations!!!

Breeze
  • #45,718
  • Oct 30, 2007 6:59am Oct 30, 2007 6:59am
Quoting Breeze
hello again everyone....!!!!....all trades closed @ 236.90....congratulations to those who followed....I am very happy with all lots @ 5 lots per trade....we made a killing....once again !!!Congratulations!!!

Breeze

congratulations
  • #45,719
  • Oct 30, 2007 7:04am Oct 30, 2007 7:04am
Quoting Breeze
hello again everyone....!!!!....all trades closed @ 236.90....congratulations to those who followed....I am very happy with all lots @ 5 lots per trade....we made a killing....once again !!!Congratulations!!!

Breeze
The cowboys Win.......

----------------------
  • #45,720
  • Oct 30, 2007 7:08am Oct 30, 2007 7:08am
Quoting moneymagnet
excellent call breeze. what a way to wake up!!! +95 on 1 position and +150 on another. THANKS BREEZE!!!!
!!!Congratulations!!!....we all did it....!!!!

Breeze
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