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

  • #46,441
  • Oct 31, 2007 8:52pm Oct 31, 2007 8:52pm
Quoting fxslinger
If the polytrendline holds, we might see 239 in the next 3 hours. I'm leaning short at least from 239.91 with an SL of 20 pips. Also the MACD histogram crossed down and the red DMI crossed up.
this polytrendline thing is pretty interesting... especially since it works so well with my charts...hmmmm I'll have to use em. Any recommendations on where to go to learn more about it?
  • #46,442
  • Oct 31, 2007 9:00pm Oct 31, 2007 9:00pm
Quoting MoForce
this polytrendline thing is pretty interesting... especially since it works so well with my charts...hmmmm I'll have to use em. Any recommendations on where to go to learn more about it?

I learned it from http://www.marketclues.net (3 month free trial).

You can also do a google search for polytrendline resistance and it will bring up some links with good chart examples of polytrendline support and resistances.

I use quotetracker, and I don't have a polytrendline drawing tool unfortunately, so I have to draw a circle and move it so it matches up with the price tops.
  • #46,443
  • Oct 31, 2007 9:02pm Oct 31, 2007 9:02pm
Quoting fxslinger
If the polytrendline holds, we might see 239 in the next 3 hours. I'm leaning short at least from 239.91 with an SL of 20 pips. Also the MACD histogram crossed down and the red DMI crossed up.
A S/L 20 pips for G/J?
A little bit bad luck and it will take less than a minute to take your S/L out.
Think of 50 - 100 pips when you talk about S/L for this pair.

Orca
New voice message: Why are you calling me? If I need you, I'll call you!
  • #46,444
  • Oct 31, 2007 9:09pm Oct 31, 2007 9:09pm
Quoting KillerWhale
A S/L 20 pips for G/J?
A little bit bad luck and it will take less than a minute to take your S/L out.
Think of 50 - 100 pips when you talk about S/L for this pair.

Orca
Ha ha, GJ is sure volatile, but I like to only enter trades when I'm highly sure of what the trade will do. If I'm wrong, and the SL is hit, then my entry signal wasn't the best. It's a way for me to keep my losses small. Right now, though, I have 40 pips until my SL is hit.
  • #46,445
  • Oct 31, 2007 9:13pm Oct 31, 2007 9:13pm
Quoting fxslinger
I've been lurking for a long while at this great thread, and thought I would add something that has been helping me in my trades. Straight trendlines are good, but if you look at a longer timeframe, you will see that GBPJPY moves in cycles or polytrendlines.

A search on google for polytrendline resistance can explain it better than I can.

Anyway, thank you for all your great insights, it makes it more fun to trade forex while reading this thread.
Is there a polytrendline indicator?
  • #46,446
  • Oct 31, 2007 9:16pm Oct 31, 2007 9:16pm
Quoting banzai
Is there a polytrendline indicator?
No, you have to draw it on your chart manually. Quotetracker lets me draw a circle, so I use that to make the polytrendline.

I don't know if MT has a circle or polytrendline drawing tool, though.
  • #46,447
  • Oct 31, 2007 9:31pm Oct 31, 2007 9:31pm
I closed the short at 239.47. It's 12:30am here in Myrtle Beach, SC. Have a great night!
  • #46,448
  • Oct 31, 2007 9:49pm Oct 31, 2007 9:49pm
hallo teman,kawan apa kabar?
  • #46,449
  • Oct 31, 2007 9:54pm Oct 31, 2007 9:54pm
Quoting jovy
Not sure if that's a genuine question or if your pointing out the obvious for me. But to answer it, weekly, daily & hourly are bullish as indicated on the lights. I know I'm going against a strong trend. But I felt that the risk to reward (1:3) was worth a shot. I could get out now with -6 pips, but I'll hang on to see what it gives us in the next 3 mins.
Price Action is not "lights on indicators". Price Action is a series of patterns and/or formations from the movement of price itself. Do you even look at how price moves? Would you believe that some people trade off of just Price itself with no "lights" or indicators at all.

Check out the James16 Chart Thread http://www.forexfactory.com/showthread.php?t=2331
This is a long thread but well worth the read.

You might be able to find out where price is heading instead of where price has been.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #46,450
  • Oct 31, 2007 10:25pm Oct 31, 2007 10:25pm
Check out my NIKKI225 +...PS look out for LONDON to hurt!! QUOTE at 3:45 PM EST...COOL
Quoting turn1to100
Now Dow will close +(up) and allow USD/JPY to keep up strength and ASAIN session should show strength with +close tonight. Which will weaken the GBP/USD and GBP/JPY....And we will get our fall on GBPJPY in LONDON--and Dow should open -negative until 1pm Tommorow. More info later..
  • #46,451
  • Oct 31, 2007 10:28pm Oct 31, 2007 10:28pm
Hi, can someone please comment on my chart if its a strong enough reason for a short. That was captured before the new candle opened at 1pm (+8GMT). Thank you.
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May the Pips be with You Let's Pimp some Pips!
  • #46,452
  • Oct 31, 2007 10:34pm Oct 31, 2007 10:34pm
I said that at 3pmEST LOL Cool Bro
Quoting maheswara
i do think retracement might start only at frankfurt ... cos they need to keep the yen in high number during the asian session ...
  • #46,453
  • Oct 31, 2007 10:49pm Oct 31, 2007 10:49pm
if dere wuld b any retracement g/j is goin to take a short at 234.00 first so am short form 239.52...and am stickin with it
Imanuel Parsifal
  • #46,454
  • Oct 31, 2007 10:51pm Oct 31, 2007 10:51pm
Hey T1to100

How far down do you see this thing going during London?
  • #46,455
  • Oct 31, 2007 10:52pm Oct 31, 2007 10:52pm
Quoting sycho
if dere wuld b any retracement g/j is goin to take a short at 234.00 first so am short form 239.52...and am stickin with it
Dude, what indicators are you using for your trade and do you have a SL?
May the Pips be with You Let's Pimp some Pips!
  • #46,456
  • Oct 31, 2007 11:00pm Oct 31, 2007 11:00pm
GJ is very strong and shouldn't down to 234. It will continue go up till 242. Although I don't hope it goes up...
  • #46,457
  • Oct 31, 2007 11:03pm Oct 31, 2007 11:03pm
Quoting RookieJookie
Dude, what indicators are you using for your trade and do you have a SL?
i use macd parabolic sar as well as auslanco startegy...watch my target is almost hit hobe u got som green pips
Imanuel Parsifal
  • #46,458
  • Oct 31, 2007 11:10pm Oct 31, 2007 11:10pm
my target just got hit and am out with 48pips on a 5standard Lots... e/u wuld hit 1.5000 b/4 any new turn..but am gettingt a strong signal it will spike up very well tuday....seen u all on d green side of pips love pasil-da-sycho
Imanuel Parsifal
  • #46,459
  • Oct 31, 2007 11:10pm Oct 31, 2007 11:10pm
Quoting sycho
i use macd parabolic sar as well as auslanco startegy...watch my target is almost hit hobe u got som green pips
I'm sorry, I don't quite understand you. You said you're short from 239.52 with TP at 234? It's currently at 239.88.
May the Pips be with You Let's Pimp some Pips!
  • #46,460
  • Oct 31, 2007 11:20pm Oct 31, 2007 11:20pm
Does anyone see this moving down during london open? how far
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