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

  • #55,021
  • Dec 13, 2007 4:49pm Dec 13, 2007 4:49pm
Quoting Tsotsi
Boomerang. I could have wanted to show you my template but I don't know how to copy charts to this forum. However, there was a buy signal on the 15 min chart at 0445 EST on the GBPJPY this morning. Then at 1100 EST, there was a false sell signal that I did not worry about coz my QQE 60 did not cross-over. Besides I thought, there was a lot of Dow volatility affecting the GBPJPY today.
I trade the GBPJPY on the 15min time frame and my method is based on a modified "Auslanco 15min strategy" I couldn't download his indicators so I worked out mine that seem to work well.
Tsotsi, thank you for your answer, but at the time about 0445EST this morning I can't see any signal, because:
ATR (28,2.75,0) buy arrow appeared about 0345EST
QQE60 pointed down and no cross upwards
QQE5 not crossed 50line upwards
price below daily session (London) pivot price (228.26)
1H price above 100sma
D price (let's say above 5sma)

Result: do NOT enter the trade.

Therefore I have sent my question, because was still waiting for the correct signal. Or... ???
  • #55,022
  • Dec 13, 2007 5:00pm Dec 13, 2007 5:00pm
Well, SSI Indicators point bearish here..

GBP/USD - Current - Net Long +1.04 Change In Open Interest 20.33%
Last Week Net Long +1.17 Signal Bearish
The ratio of long to short positions in the GBPUSD stands at 1.04 as nearly 51%
of traders are long. Yesterday, the ratio was at 1.07 as 52% of open positions
were long. In detail, long positions are 56.2% stronger since last week. Short
positions are 2.9% weaker since last week. Open interest is 16.9% above its
monthly average. The SSI is a contrarian indicator and signals more GBPUSD
losses.
  • #55,023
  • Dec 13, 2007 5:08pm Dec 13, 2007 5:08pm
Quoting ffbk
Well, SSI Indicators point bearish here..

GBP/USD - Current - Net Long +1.04 Change In Open Interest 20.33%
Last Week Net Long +1.17 Signal Bearish
The ratio of long to short positions in the GBPUSD stands at 1.04 as nearly 51%
of traders are long. Yesterday, the ratio was at 1.07 as 52% of open positions
were long. In detail, long positions are 56.2% stronger since last week. Short
positions are 2.9% weaker since last week. Open interest is 16.9% above its
monthly average. The SSI is a contrarian indicator and signals more GBPUSD
losses.
I don't see how that works out. If there are more buyers this week, percentage wise, the currency pair would rise. Then again, who knows. By the way, where did you get that info from?
I dream, therefore I become.
  • #55,024
  • Dec 13, 2007 5:09pm Dec 13, 2007 5:09pm
Quoting ffbk
Well, SSI Indicators point bearish here..

GBP/USD - Current - Net Long +1.04 Change In Open Interest 20.33%
Last Week Net Long +1.17 Signal Bearish
The ratio of long to short positions in the GBPUSD stands at 1.04 as nearly 51%
of traders are long. Yesterday, the ratio was at 1.07 as 52% of open positions
were long. In detail, long positions are 56.2% stronger since last week. Short
positions are 2.9% weaker since last week. Open interest is 16.9% above its
monthly average. The SSI is a contrarian indicator and signals more GBPUSD
losses.
interesting where do u get this info?
  • #55,025
  • Dec 13, 2007 5:14pm Dec 13, 2007 5:14pm
Quoting mike w
I don't see how that works out. If there are more buyers this week, percentage wise, the currency pair would rise. Then again, who knows. By the way, where did you get that info from?
dailyfx.com
It's mentioned the source is FXCM Execution Desk...
  • #55,026
  • Dec 13, 2007 5:16pm Dec 13, 2007 5:16pm
Quoting ffbk
dailyfx.com
It's mentioned the source is FXCM Execution Desk...
Alritey, thanks. I'm going to go check it out. Before that though, do you know exactly how it works or were you just going by what FXCM was saying? If you don't know the exact parameters of it and how to trade using it, I think you need to learn that. That goes for anyone using indicators.
I dream, therefore I become.
  • #55,027
  • Dec 13, 2007 5:18pm Dec 13, 2007 5:18pm
Commentary – wrote last week that “it appears that wave i of C is complete at 221.27 and that a corrective wave ii is underway now. Expect resistance near the 61.8% of 241.35-221.27 at 233.68 as well as the 11/14 high at 232.38.” This pattern is playing out as expected so there is no change to the outlook for a top near 232.38/233.68. That is the sell zone.

Strategy – Get bearish near 232.38/233.68, against 241.35, target 210.00

LETS SEE !!
  • #55,028
  • Dec 13, 2007 5:26pm Dec 13, 2007 5:26pm
Quoting mike w
Alritey, thanks. I'm going to go check it out. Before that though, do you know exactly how it works or were you just going by what FXCM was saying? If you don't know the exact parameters of it and how to trade using it, I think you need to learn that. That goes for anyone using indicators.
Well i am still learning and trying to understand what i can :-).
Looking further i see what it means...It says
SSI is a contrarian indicator and signals more GBPUSD losses...
And definition of contrarian:
a contrarian is one who attempts to profit by investing in a manner that differs from the conventional wisdom, when the consensus opinion appears to be wrong. So i guess it goes against the crowd.

But long term i do see it going down. Not sure if it is right time to enter short or wait for 230+
  • #55,029
  • Dec 13, 2007 5:34pm Dec 13, 2007 5:34pm
This is the 6j chart again,if you look at the 5 min 6j chart it still has got a gap to fill around 0.9053
so if 6j goes back there,GJ will probably be around 228 again
Attached Image (click to enlarge)
Click to Enlarge Name: 6jabc.gif Size: 31 KB
Boyy,trap money,like bear hunters.
  • #55,030
  • Dec 13, 2007 5:38pm Dec 13, 2007 5:38pm
Quoting Merc
This is the 6j chart again,if you look at the 5 min 6j chart it still has got a gap to fill around 0.9053
so if 6j goes back there,GJ will probably be around 228 again

228 hmmm the median is 228.5 and 228.3 is daily 5 sma sounds good to me
  • #55,031
  • Dec 13, 2007 5:41pm Dec 13, 2007 5:41pm
Quoting dagoods
228 hmmm the median is 228.5 and 228.3 is daily 5 sma sounds good to me
we are above the middle of the 4 hour linear regression channel and its a slow ranging market for what its worth = probaly drop 40-50 pips at some point.... on the other hand.... it could go higher within the cahnnel first and scalping is for gamblers
  • #55,032
  • Dec 13, 2007 5:41pm Dec 13, 2007 5:41pm
[email protected] - hoping to pick up a few pips on the news...
  • #55,033
  • Dec 13, 2007 5:53pm Dec 13, 2007 5:53pm
Quoting Bigvick991
[email protected] - hoping to pick up a few pips on the news...

no nes is good news???/
  • #55,034
  • Dec 13, 2007 5:57pm Dec 13, 2007 5:57pm
dear god...

I am a idiot... I meant to go long on the bad JPY news....

I will never trade half asleep again!...



Sad thing is, It took me a minute to go wtf - why on the bad news is it rising...

live and let learn...
  • #55,035
  • Dec 13, 2007 5:59pm Dec 13, 2007 5:59pm
Longs closed on this spike. Will prob run up a bit further but im uncertain of this market and will take my 200 points while its on offer.

Cheers, everyone.
"If it bleeds ... we can kill it"
  • #55,036
  • Dec 13, 2007 6:10pm Dec 13, 2007 6:10pm
Quoting Bigvick991
dear god...

I am a idiot... I meant to go long on the bad JPY news....

I will never trade half asleep again!...



Sad thing is, It took me a minute to go wtf - why on the bad news is it rising...

live and let learn...

I know the feeling, trading when tired is risky. I am in a hedge that is crimping my trading capital because of typing mistake when i was tired. Forgot a decimal place on the number of lots.
Trade what you see, not what you think.
  • #55,037
  • Dec 13, 2007 6:15pm Dec 13, 2007 6:15pm
Quoting ffbk
Well i am still learning and trying to understand what i can :-).
Looking further i see what it means...It says
SSI is a contrarian indicator and signals more GBPUSD losses...
And definition of contrarian:
a contrarian is one who attempts to profit by investing in a manner that differs from the conventional wisdom, when the consensus opinion appears to be wrong. So i guess it goes against the crowd.

But long term i do see it going down. Not sure if it is right time to enter short or wait for 230+

FXCM has a huge base of clients. They have instant access to where all their clients have positioned themselves. This data that they quote could be from their statistics.

They also have funds that uses this data for trade predictions although one of their funds works against this data. Mike from Texas office of FXCM told us that.
  • #55,038
  • Dec 13, 2007 6:19pm Dec 13, 2007 6:19pm
Quoting Merc
This is the 6j chart again,if you look at the 5 min 6j chart it still has got a gap to fill around 0.9053
so if 6j goes back there,GJ will probably be around 228 again

Merc. This is the 2nd chart I have seen from you. What is 6j?
  • #55,039
  • Dec 13, 2007 6:27pm Dec 13, 2007 6:27pm
I'm not sure but it's the yen index,like the dollar index I guess
Boyy,trap money,like bear hunters.
  • #55,040
  • Dec 13, 2007 6:34pm Dec 13, 2007 6:34pm
Quoting Merc
I'm not sure but it's the yen index,like the dollar index I guess
Gaps can take a longgg time to fill out. Believe me on that. Don't base your trade solely on the fact that there is a gap. I'll refer back to M2B's post so everyone can see what is still taking place once I can find it. 233 is still a possibility or a little lower at the next fib level.
I dream, therefore I become.
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