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

  • #47,481
  • Nov 4, 2007 3:40pm Nov 4, 2007 3:40pm
Quoting auslanco
bro.. My FXDD MT4 daily is very bullish( 10C, 14C)
hmm, ok but on IBFX and Fibo group (both MT4), daily momentum is very bearish.

I don't know, I'll just follow 4h/1h for now.
Trade what you see, not what you think.
  • #47,482
  • Nov 4, 2007 3:42pm Nov 4, 2007 3:42pm
Quoting karmostaji
hmm, ok but on IBFX and Fibo group (both MT4), daily momentum is very bearish.

I don't know, I'll just follow 4h/1h for now.
have you got an updated daily bar for today?
  • #47,483
  • Nov 4, 2007 3:43pm Nov 4, 2007 3:43pm
Quoting auslanco
have you got an updated daily bar for today?
yep
Trade what you see, not what you think.
  • #47,484
  • Nov 4, 2007 3:43pm Nov 4, 2007 3:43pm
Looks like you deleted those pictures, can someone verify that this has been done, I just went back 20 pages and didn't see any of them.

Thanks,

Ken
  • #47,485
  • Nov 4, 2007 3:48pm Nov 4, 2007 3:48pm
Quoting monarch
The Daily 5SMA is around 238.90 area.
The Weekly 5SMA is around 237.50 area.
The Montly 5SMA is 237.83, and was already reached so far since the 1st of November, also the D/W/Monthly candles are all above the 5SMA, but the 4 hour remains crossed at this moment.

The 4 Hour showing some Bearish sign and it could possibly reach towards the 238.50 itself.

Ken

4hr Bar
yes. current 4hr bar is very bearish and targets the 5sma (LoW) 238.50- 238.60 before 1AM GMT
Attached Image
  • #47,486
  • Nov 4, 2007 3:50pm Nov 4, 2007 3:50pm
Quoting Mysticdiver
I PMed merlin, I see he now has posting infractions, and no more 1KT.
Thank you and i'm sure there is alot of others on here that feel the same.
  • #47,487
  • Nov 4, 2007 3:54pm Nov 4, 2007 3:54pm
Quoting karmostaji
Ok since I'm still mixed up a bit about direction, let me say what I'm seeing on auslanco's system.

4H QQE is crossed downwards.
1H QQE is about to cross downwards (might/might not).
If it does then price will go much lower than daily 5sma (238.80/90)

Daily momentum on VT is very bullish, but on MT4 it is very bearish.

hmm, bulls... bears... bulls... bears..
Looks like momentum on the Hourly just turned upwards on the 100 line.

The 4 Hour is heading downwards and is setting right on my 100 line also, but a slight bit under, let's see if that continues or spikes up to give us a 4HR momentum signal.

No hurry to trade here, just like the thread analysis and everyone's slow market chat.

Ken
  • #47,488
  • Nov 4, 2007 3:57pm Nov 4, 2007 3:57pm
Quoting auslanco
4hr Bar
yes. current 4hr bar is very bearish and targets the 5sma (LoW) 238.50- 238.60 before 1AM GMT
Probably with all of last Fridays Bull movement, the price needs to cool a bit, EJ is leading the pack down, GJ wants to follow it now.

Just sitting here enjoying it all.

Nice charts that you posted on your daily thread, I will be there with you also to add my 1/2 Cents worth of analysis.

Ken
  • #47,489
  • Nov 4, 2007 3:59pm Nov 4, 2007 3:59pm
I don't see the pics, Monarch. Thanks.
  • #47,490
  • Nov 4, 2007 4:01pm Nov 4, 2007 4:01pm
Quoting monarch
Looks like you deleted those pictures, can someone verify that this has been done, I just went back 20 pages and didn't see any of them.

Thanks,

Ken
I removed those pictures. Pictures like that have no place at FF.
  • #47,491
  • Nov 4, 2007 4:03pm Nov 4, 2007 4:03pm
Quoting smjones
I removed those pictures. Pictures like that have no place at FF.
Thanks, I was hoping someone would come to the rescue, and it was you.

How was your weekend bro?

Ken
  • #47,492
  • Nov 4, 2007 4:03pm Nov 4, 2007 4:03pm
Quoting karmostaji
hmm, ok but on IBFX and Fibo group (both MT4), daily momentum is very bearish.

I don't know, I'll just follow 4h/1h for now.
Hello everyone,

just a small notice to clarify momentum, the reason your mt4 shows differently is the time zone (IBFX uses GMT). Momentum is very simply today's close (lets say 239,3 at this moment) divided by N-days close (10 days ago was 234,18). That gives (239,3/234,18)*100 = 102,18 for 10C Momentum. This is valid for GMT+2 like NorthFinance. You will not have the same one as auslanco or other guys till you start using broker with the same timezone. I prefer also IBFX(demo) due to GMT0 time and it would be nice for all you chart wizards to agree on and start using the same one in order to have the same values for indicators and same difference between the close prices in this case.

Btw thanks for your great contributions and awesome indicator readings.

P.S.: It would help us to know what the 'big guys' are using for timezone. But supposing most of them trade in London which is GMT i would prefer it.
  • #47,493
  • Nov 4, 2007 4:07pm Nov 4, 2007 4:07pm
Covered my short at 239.22. +63
  • #47,494
  • Nov 4, 2007 4:09pm Nov 4, 2007 4:09pm
Quoting monarch
Thanks, I was hoping someone would come to the rescue, and it was you.

How was your weekend bro?

Ken
I had a great week last week and a relaxing weekend. thanks
  • #47,495
  • Nov 4, 2007 4:20pm Nov 4, 2007 4:20pm
Quoting mades
Hello everyone,

just a small notice to clarify momentum, the reason your mt4 shows differently is the time zone (IBFX uses GMT). Momentum is very simply today's close (lets say 239,3 at this moment) divided by N-days close (10 days ago was 234,18). That gives (239,3/234,18)*100 = 102,18 for 10C Momentum. This is valid for GMT+2 like NorthFinance. You will not have the same one as auslanco or other guys till you start using broker with the same timezone. I prefer also IBFX(demo) due to GMT0 time and it would be nice for all you chart wizards to agree on and start using the same one in order to have the same values for indicators and same difference between the close prices in this case.

Btw thanks for your great contributions and awesome indicator readings.

P.S.: It would help us to know what the 'big guys' are using for timezone. But supposing most of them trade in London which is GMT i would prefer it.
Yeah it makes a difference.

NorthFinance Bullish
Alpari UK Bullish
IBFX Bearish
  • #47,496
  • Nov 4, 2007 4:24pm Nov 4, 2007 4:24pm
Quoting markam
If USD/CAD moves up some before the next petroleum report, I may short it.

Actually thinking about this some more, I realized that the US government is likely going to have to pull from the SPR, because I can't see any way the mexican oil production is going to come back quickly. Will there be a market reaction from the use of the SPR, and what will the reaction be?
  • #47,497
  • Nov 4, 2007 4:25pm Nov 4, 2007 4:25pm
I am using CMC Markets UK and at 0000GMT all 3 momentum are pointing abv 30deg.
kenneith
  • #47,498
  • Nov 4, 2007 4:26pm Nov 4, 2007 4:26pm
My OANDA still haveing 15 pips spread on GJ. Is this normal?
  • #47,499
  • Nov 4, 2007 4:27pm Nov 4, 2007 4:27pm
Forums > Forex Discussion > Malaysia
Quote:
Originally Posted by msmsms http://www.forexfactory.com/images/buttons/viewpost.gif
shamx77, zul...etc

it was good trading days since a week ago on gu. i have been using wma20 and sma30, whenever the price falls, or the so called "correction" then it will bounce back north after touching wma20 and sma30 . we know that it is uptrend and i don't have to worry. looking at 15m, 1hr and 4h chart, it religiously follow that rules that it must bounce up and work all the way up. i wonder all traders using these indicators, which is near perfect. especially when it comes to europe and us session. i use to encounter -60 pips correction and i close later 120 pips above. meaning i gain 60 pips. when blair resigned it went down 130 pips and work all the way up, thrust into higher area. some questions here. which time frame chart that i need to rely on, i might not very good at candlestick but i can read and see something.

if it is going to be a reversal of trend, which chart to look at. on fundamental, exception is non farm, chain effect from this event. how to detect whether that is really a crash and tomorrow price will work all the way down.

i am a chartist. but i don't forget fundamental. say something please.

Hi,everyone !I just finish analyse the set up with the historical chart and it good set up work with any MA but need to combine with the candlestick pattern. The following are the setup rules:

Portfolio: GBP/USD
Time frame : 30 minutes chart
Entry Session: London Session (7am-11am GMT)
New York (7am-1pm EST)
a)Trend following for long position:
1. 20 wma must cross 30 sma.
2. Candlestick must close and touch 20 wma.
3. Place entry order 4 pips above the close candlestick. Entry order will be apply instead of market order to reduce the risk of fake out for trade risk management.
4. Place entry order 4 pips above the close candlestick after it touch 30 sma for buy dip option. Entry order will be apply instead of market order to reduce the risk of fake out for trade risk management.
5.
b) Trend following for short position:
1. 30 sma must cross 20 wma.
2. Candlestick must close and touch 20 wma.
3. Place entry order 4 pips below the close candlestick. Entry order will be apply instead of market order to reduce the risk of fake out for trade risk management.
4. Place entry order 4 pips below the close candlestick after it touch 30 sma for buy dip option. Entry order will be apply instead of market order to reduce the risk of fake out for trade risk management.
c) Trend reversal for short position:
1. 30 sma must cross 20 wma.
2. Candlestick must close at the same time 30 sma cross 20 wma.
3. Place entry order 4 pips below the close candlestick. Entry order will be apply instead of market order to reduce the risk of fake out for trade risk management.
d) Trend reversal for long position:
1. 20 wma must cross 30 sma.
2. Candlestick must close at the same time 20 wma cross 30 sma.
3. Place entry order 4 pips below the close candlestick. Entry order will be apply instead of market order to reduce the risk of fake out for trade risk management.

Risk Management
1. ONLY enter trade using the above setup rules.
2. Money management and profit projection can be applied based on individual risk appetite.
3. Set minimum profit projection using limit order.
4. DO NOT chase the trade.
5. DO NOT enter trade 30 minutes before the economic data out.


Suggestion

In order to prove the consistency of this system I would like to suggest you to demo trade this system for at least 1 month. Place 15 to 25 pips or lower profit projection and record the consistency of the profit projection. You can use this system as forum daily discussion so it can be improve. I may not use this system the fact that I prefer to use my own system but I’m happy to give some idea. All the best!

Zul
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  • #47,500
  • Nov 4, 2007 4:28pm Nov 4, 2007 4:28pm
G/J bounced off of my 238.93 fib support level... I'm long from 238.95
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