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

  • #56,141
  • Dec 24, 2007 9:14am Dec 24, 2007 9:14am
Quoting moneymagnet
yeah thin markets. i had a short on at 226.16 but got tired of the bouncing around and closed it with only 4 pips only to awake and see it hit 225.65. lol. oh well
Ahh . . . the old patience thing. Today might end up being best for scalping, if we can get a range defined. It could be setting the upper limits right about now. But I don't know if I feel like sitting around watching the screen all day. I have the holidays in mind . . .
  • #56,142
  • Dec 24, 2007 9:15am Dec 24, 2007 9:15am
Quoting quecee5
If I may, I'd like to get your view on one more thing please? A week ago alot of people in here were talking of it trying to make a retrace to it's 50% fibo. from the big fall @ 231.30 or so. My question is, if you look @ the daily or weekly chart, you can see that right after the big fall, it made a retrace to that point. Am I wrong? or can it, should it do it again to do a proper retrace. Or was that just a bounce I am seeing and not a retrace. Please help, just trying to learn.
Thanks!!!
  • #56,143
  • Dec 24, 2007 9:29am Dec 24, 2007 9:29am
Quoting fxstman
If I may, I'd like to get your view on one more thing please? A week ago alot of people in here were talking of it trying to make a retrace to it's 50% fibo. from the big fall @ 231.30 or so. My question is, if you look @ the daily or weekly chart, you can see that right after the big fall, it made a retrace to that point. Am I wrong? or can it, should it do it again to do a proper retrace. Or was that just a bounce I am seeing and not a retrace. Please help, just trying to learn.
Thanks!!!
I don't see that. . .
The highest I see GJ since after Nov. 11th is 230's. . .
Most were predicting after the fall down to 223.80's a couple weeks ago would yield a touch back to at least 50% fib (231.30's) and possibly 61.8 fib. (233.00) fib before a reversal toward the H&S neckline and possibly a break toward 221.50/218/210/205. . .
  • #56,144
  • Dec 24, 2007 9:40am Dec 24, 2007 9:40am
Merry Christmas everybody! With a special greeting to all new traders. May your holidays be bright!

  • #56,145
  • Dec 24, 2007 9:49am Dec 24, 2007 9:49am
Quoting quecee5
I don't see that. . .
The highest I see GJ since after Nov. 11th is 230's. . .
Most were predicting after the fall down to 223.80's a couple weeks ago would yield a touch back to at least 50% fib (231.30's) and possibly 61.8 fib. (233.00) fib before a reversal toward the H&S neckline and possibly a break toward 221.50/218/210/205. . .
OK Thank you sir. I hope the holiday brings you the very best.

fxstman
  • #56,146
  • Dec 24, 2007 9:51am Dec 24, 2007 9:51am
Quoting Pips_Cruiser
Ahh . . . the old patience thing. Today might end up being best for scalping, if we can get a range defined. It could be setting the upper limits right about now. But I don't know if I feel like sitting around watching the screen all day. I have the holidays in mind . . .
well my broker closes at 12 so i am done. you guys have a great CHRISTmas.
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #56,147
  • Dec 24, 2007 9:57am Dec 24, 2007 9:57am
Quoting moneymagnet
well my broker closes at 12 so i am done. you guys have a great CHRISTmas.
U 2 Moneymagnet!
Best holiday wishes to all on this thread!
  • #56,148
  • Edited 12:08pm Dec 24, 2007 10:05am | Edited 12:08pm
I use OANDA and the open orders of OANDA show bearish over 226.13.
Since OANDA is fair big broker, the summary may be reliable，correct?
and can we use info for the trades of G/J?
http://fxtrade.oanda.com/resources/t...rs_GBP_JPY.png
  • #56,149
  • Dec 24, 2007 10:06am Dec 24, 2007 10:06am
I Whish all of this nice learning thread a Happy Christmas and a Happy NewYear.
Best regards
  • #56,150
  • Dec 24, 2007 11:54am Dec 24, 2007 11:54am
Just want to say "thanks" to all you great people for the tremendous help you have provided these past months -- talk about a gift!! I also want to wish you all a very Merry Christmas and Happy New Year!!! God bless.
  • #56,151
  • Dec 24, 2007 12:53pm Dec 24, 2007 12:53pm
Quoting PipChick
If it wasnt a holiday, I would be buying right now. Holidays and sundays can change the patterns.We have a great set up on the 1 hr and 4 hr. Very nice inverse H/s on both time frames. Aus momentum indicator on the 4 hr looks good too.


Setup for long or short? Merry Xmas!~
  • #56,152
  • Dec 24, 2007 2:48pm Dec 24, 2007 2:48pm
Quoting Pips_Cruiser
Ahh . . . the old patience thing. Today might end up being best for scalping, if we can get a range defined. It could be setting the upper limits right about now. But I don't know if I feel like sitting around watching the screen all day. I have the holidays in mind . . .
Merry Christmas to all, and hopefully we take our good habits into '08 and leave the bad ones in '07. Just FYI for newbies and maybe old heads alike.

What I have found is that at 6:00 pm Eastern time, the autopivot indicator readjusts to a new daily pivot. Price always goes back to the daily pivot. So if you are looking for a simple no brainer trade, this is it.
  • #56,153
  • Dec 24, 2007 2:52pm Dec 24, 2007 2:52pm
Quoting DollaBill
Merry Christmas to all, and hopefully we take our good habits into '08 and leave the bad ones in '07. Just FYI for newbies and maybe old heads alike.

What I have found is that at 6:00 pm Eastern time, the autopivot indicator readjusts to a new daily pivot. Price always goes back to the daily pivot. So if you are looking for a simple no brainer trade, this is it.
Hi Dollabill, could you explain as to why price always reverts back to this level? Would you think it is just because of simple oscillations through the market or perhaps retracements going to a fairly set fibonacci level? I mean, by set fib levels, that the gbp/jpy normally moves to the 50% fib level after a movement. Would you think that this auto indicator acts as a preset fib? Thanks for any answers regarding any questions. Happy holidays to you.
I dream, therefore I become.
  • #56,154
  • Dec 24, 2007 2:55pm Dec 24, 2007 2:55pm
Quoting DollaBill
Merry Christmas to all, and hopefully we take our good habits into '08 and leave the bad ones in '07. Just FYI for newbies and maybe old heads alike.

What I have found is that at 6:00 pm Eastern time, the autopivot indicator readjusts to a new daily pivot. Price always goes back to the daily pivot. So if you are looking for a simple no brainer trade, this is it.

would you be kind enough to post the version of autopicot that you use (mt4) if possible? thanks in advance... happy holidays all
  • #56,155
  • Dec 24, 2007 3:33pm Dec 24, 2007 3:33pm
Quoting szbu
I use OANDA and the open orders of OANDA show bearish over 226.13.
Since OANDA is fair big broker, the summary may be reliable，correct?
The whole retail market in Forex is just a few percent of total volume. So positions of an individual retail broker mean nothing.

Have a look at the Commitments of Traders (COT) reports for a source of institutional positioning. Note however that it is a lagging indicator.
  • #56,156
  • Dec 24, 2007 3:39pm Dec 24, 2007 3:39pm
Quoting quecee5
I don't see that. . .
The highest I see GJ since after Nov. 11th is 230's. . .
Most were predicting after the fall down to 223.80's a couple weeks ago would yield a touch back to at least 50% fib (231.30's) and possibly 61.8 fib. (233.00) fib before a reversal toward the H&S neckline and possibly a break toward 221.50/218/210/205. . .
My FXDD daily charts show a piercing of the 50 fib on Nov 14.
Attached Image (click to enlarge)
Click to Enlarge Name: geppyfib.gif Size: 13 KB
  • #56,157
  • Dec 24, 2007 6:44pm Dec 24, 2007 6:44pm
Quoting mike w
Hi Dollabill, could you explain as to why price always reverts back to this level? Would you think it is just because of simple oscillations through the market or perhaps retracements going to a fairly set fibonacci level? I mean, by set fib levels, that the gbp/jpy normally moves to the 50% fib level after a movement. Would you think that this auto indicator acts as a preset fib? Thanks for any answers regarding any questions. Happy holidays to you.
I'm not sure why, but this is what I have been using to get pips separate of my 1hr/4hr strategy. I have been following this for 1 month and I been making positive pips. Another thing that I have noticed is that it does coincide with fib lines so maybe your right about the 50% fib level.
Attached File(s)
File Type: ex4 Auto Pivot.ex4   15 KB | 355 downloads
File Type: mq4 Auto Pivot.mq4   15 KB | 353 downloads
  • #56,158
  • Dec 24, 2007 7:40pm Dec 24, 2007 7:40pm
Quoting DollaBill
I'm not sure why, but this is what I have been using to get pips separate of my 1hr/4hr strategy. I have been following this for 1 month and I been making positive pips. Another thing that I have noticed is that it does coincide with fib lines so maybe your right about the 50% fib level.
Thanks Dollabill. I thought that it would have some kind of likeness with the key fib levels. With that, you could actually post up the indicator and learn to better draw fibs if you aren't familiar with how to draw them correctly through the usage of this indicator. Indicators like this, if it does indeed mimic the fib levels, are of great value when trying to learn. Thanks again Dollabill.
I dream, therefore I become.
  • #56,159
  • Dec 24, 2007 9:21pm Dec 24, 2007 9:21pm
Thanks My mentor, My Guru, My saviour.

My account equity is 182% up for the last 6 months since I started following you.

God bless you and your family .




Spanishfly
  • #56,160
  • Dec 24, 2007 9:29pm Dec 24, 2007 9:29pm
Quoting auslanco
. Todays daily bar opened below the 5sma (close) within a declining daily 5sma channel. That assures, bears are still very much in control.
Thanks for the christmas gift , Aus
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