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

  • #46,381
  • Oct 31, 2007 6:47pm Oct 31, 2007 6:47pm
Quoting jovy
I wish I have the tools that everyone is using on this thread. But since I don't, I rely heavily on everyone's opinion on this forum before I make a trade to confirm what my tool tells me. I have been using the 4xMadeEasy software which I'm still not sure if it was a wise investment. But for now, since I'm stuck with it I thought I'd share what my indicators are telling me to hopefully confirm the bears in this forum. My 240 min (4hr) light turned bearish which is a good indication of a retracement. I'm short at 239.88, my TP is 238.58. (50% retrace from low of 236.96 to high of 240.19=238.58). But I'll exit at 238.88. A close below 239.50 on my 1 min. chart should confirm this. My SL is 240.19. Keeping it close in case it shoots to 240.69. With the bearish news in Japan, I believe we could see a retest of 251 in the coming weeks. I'm just a newbie so take it for what it's worth. Going home now. Happy trading.
What does Price Action tell you on the weekly, daily, 4hour ?

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #46,382
  • Oct 31, 2007 6:53pm Oct 31, 2007 6:53pm
Quoting auslanco
G'morning,
Daily shows a highly possible retracement down to 237.50 area. If the price reach that level today , the 4hr TF will turn bearish.. It will be a start of a new bearish trend towards the 230 area IMO
Hi Aus baby...

Can u pls post chart of this....i want to see momentum so i can undrstand your analysis as this is pretty difficult me me.

Thanks....baby
  • #46,383
  • Oct 31, 2007 6:54pm Oct 31, 2007 6:54pm
Good morning, Dear Aus, finally u r back, and we r relieved quite a bit, i guess.

tomorrow daily momentum (either from 5pm est or 7pm est) is bullish for 10c.
Why are you still expecting 237.50? is this where gann hi-lo supporting line?

thanks in advance.

Quoting auslanco
G'morning,
Daily shows a highly possible retracement down to 237.50 area. If the price reach that level today , the 4hr TF will turn bearish.. It will be a start of a new bearish trend towards the 230 area IMO
  • #46,384
  • Oct 31, 2007 6:55pm Oct 31, 2007 6:55pm
thanks
Quoting gene22
Here is the thread
http://www.investopedia.com/terms/d/diamondtop.asp

basically there are different types of diamonds, this one, most likely is a big reversal diamond that forms at the top off the trend and signals a reversal. What's so significant about this particular diamond is that it is a geometrically perfect formation, meaning that all of the angles and lines are aligning perfectly, this happens very rarely, and when I say rarely I mean decades, especcialy on such a grand scale as this. But at any rate, this is a possibility, quite attractive I suppose but still a possiblity, nothing more, nothing less. Nothing is guaranteed!!!
Do your analyses and trade according to plan that you make before you make any type of trade
  • #46,385
  • Oct 31, 2007 6:55pm Oct 31, 2007 6:55pm
Quoting auslanco
G'morning,
Daily shows a highly possible retracement down to 237.50 area. If the price reach that level today , the 4hr TF will turn bearish.. It will be a start of a new bearish trend towards the 230 area IMO
Good Morning, from your mouth to God's ears, or we could spend the next few days like a yo-yo back and forth before the move gains footing. On a serious note, based on a diamond formation within a diamond, and since up to now the formations had been flawless, one can make an assumption of 229.00-10 on exactly the 2nd of November, sounds far fetched, 1000 points even for this pair is a lot, but the perfect diamond picture demands a touch of that level on the 2nd in order to stay perfect, let's see
  • #46,386
  • Oct 31, 2007 6:59pm Oct 31, 2007 6:59pm
Quoting jovy
I wish I have the tools that everyone is using on this thread. But since I don't....
The tools that most people use here are free. Check Auslanco's signature for his other threads with information on setting it up and the rules for trading it.
  • #46,387
  • Oct 31, 2007 7:02pm Oct 31, 2007 7:02pm
Quoting Big Bruv
Hi Aus baby...

Can u pls post chart of this....i want to see momentum so i can undrstand your analysis as this is pretty difficult me me.

Thanks....baby
Daily.. As you can see there are mixed signals from the Daily bar. Then we have to refer to 8hr charts to confirm the session momentums.
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  • #46,388
  • Oct 31, 2007 7:04pm Oct 31, 2007 7:04pm
G'morning Aus. just now i had my daily candle and 14c, 10c are pointing upwards whereas 1c is pointing downwards, is it indicating towards much awaited retracement? thanks in advance.
regards
Quoting auslanco
G'morning,
Daily shows a highly possible retracement down to 237.50 area. If the price reach that level today , the 4hr TF will turn bearish.. It will be a start of a new bearish trend towards the 230 area IMO
  • #46,389
  • Oct 31, 2007 7:12pm Oct 31, 2007 7:12pm
Quoting gene22
Good Morning, from your mouth to God's ears, or we could spend the next few days like a yo-yo back and forth before the move gains footing. On a serious note, based on a diamond formation within a diamond, and since up to now the formations had been flawless, one can make an assumption of 229.00-10 on exactly the 2nd of November, sounds far fetched, 1000 points even for this pair is a lot, but the perfect diamond picture demands a touch of that level on the 2nd in order to stay perfect, let's see
Yo yo for few days are highly possible untill some of these indicators turn neutral from it's highly bullish nature. I got my new monthly candle with MT4 ,
new monthly highs 242.30 and Low's - god knows what' with another extremely bearish momentum on the new monthly bar + overdue bearish momentum from the previous bar.
  • #46,390
  • Oct 31, 2007 7:20pm Oct 31, 2007 7:20pm
Quoting kenneith
G'morning Aus. just now i had my daily candle and 14c, 10c are pointing upwards whereas 1c is pointing downwards, is it indicating towards much awaited retracement? thanks in advance.
regards

I got my new GFT daily at 12GMT few minutes back and it's same as the MT4
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  • #46,391
  • Oct 31, 2007 7:21pm Oct 31, 2007 7:21pm
auslanco

In my chart i see the 14c momentum diferent than you have what is my problem or the parameter

thank
  • #46,392
  • Oct 31, 2007 7:21pm Oct 31, 2007 7:21pm
G morning all, hope you didn't get chopped in the crazy action last night.

Here's 8H chart from e-signal. It's momentums are Flat, Flat Bearish. But MACD and Stochs are Bullish.

I'd like this pair dive since new Monthly chart shows 14c- bullish, 10c-bearish, 1c bearish, MACD is trying to cross downwards they're very close than Oct. But Stochs are trying to cross up from cross down.
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  • #46,393
  • Oct 31, 2007 7:23pm Oct 31, 2007 7:23pm
thanks Aus, i am with CMC(broker) and i dont know why i hv got 14c pointing upwards.
regards
Quoting auslanco
I got my new GFT daily at 12GMT few minutes back and it's same as the MT4
  • #46,394
  • Oct 31, 2007 7:26pm Oct 31, 2007 7:26pm
Quoting amed12
auslanco

In my chart i see the 14c momentum diferent than you have what is my problem or the parameter

thank
you have to have the correct scaling to identify the momentum bends.


here's how I have scaled 7 charts into one screen for GFT charts .
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  • #46,395
  • Oct 31, 2007 7:28pm Oct 31, 2007 7:28pm
Quoting gtt
G morning all, hope you didn't get chopped in the crazy action last night.

Here's 8H chart from e-signal. It's momentums are Flat, Flat Bearish. But MACD and Stochs are Bullish.

I'd like this pair dive since new Monthly chart shows 14c- bullish, 10c-bearish, 1c bearish, MACD is trying to cross downwards they're very close than Oct. But Stochs are trying to cross up from cross down.

when you look at the momentum on the fully 100% scaled charts as you posted you cant spot the bends.
  • #46,396
  • Oct 31, 2007 7:32pm Oct 31, 2007 7:32pm
Upon some more calculations I regret to inform that it looks like my previous analyses did not take into account time factor, the top could very well be around 242.50- 243.50 area, if we look at the left side of the diamond we we'll see that it took 19weeks to form, 19 is a very significant number that Gann used in his calculations, and that's why I believe it is relevant, that means that the right side before the breakout will have to be inside the formation for 19 weeks as well, the breakout week is 12/23/07, and based on time and structure analyses, I suspect that the shorts are a little premature, it has nowhere else to go at the moment and hence the boundary will have to be extended, to the right. Unless the daily momentum can push this pair lower for a correction today we may still break the 241.06 level before heading north for good.
  • #46,397
  • Oct 31, 2007 7:32pm Oct 31, 2007 7:32pm
Hey aus.
Hope u had a good vacation.
I sent u couple of PMs in last fwe days.can u have a look at them and reply ,plz.
Thanks.
  • #46,398
  • Oct 31, 2007 7:35pm Oct 31, 2007 7:35pm
Hey Aus.

Reviewed your strategy pages and couldn't find the indicator that is on the bottom of each chart in post #46395. What indicator is that? Tks.
  • #46,399
  • Oct 31, 2007 7:38pm Oct 31, 2007 7:38pm
Quoting Gandolf
Hey Aus.

Reviewed your strategy pages and couldn't find that last indicator on the chart you posted in #46395. What indicator is that? Tks.
Thats a screenshot of my GFT chart settings/scaling to easiely spot the momentum indicator bends.
  • #46,400
  • Oct 31, 2007 7:39pm Oct 31, 2007 7:39pm
Quoting sri
Hey aus.
Hope u had a good vacation.
I sent u couple of PMs in last fwe days.can u have a look at them and reply ,plz.
Thanks.
I will.
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