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

  • #58,761
  • Jan 11, 2008 9:38am Jan 11, 2008 9:38am
just checked VT Traders mom's which updated at 12pm est and the 1C & 14C are bearics and 10C is flat
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #58,762
  • Jan 11, 2008 9:41am Jan 11, 2008 9:41am
hey q i know u love pivots.... been playing with this tool check it out.... grrn and yellow are the fib pivots.... price undecided betweeen em right now...once it breaks it breaks to the upper or lower ......

ps since the upper green pivot was pierced...price should go up at some point to upper white line but i just started learning this so...... and it could go dwon first....
Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 11 KB
  • #58,763
  • Jan 11, 2008 9:41am Jan 11, 2008 9:41am
Quoting quecee5
Yep I agree. . .
I closed a few longs at the top but I don't think its done quite yet. I'd like to see a close below 213.31 1st before I close my longs from 212.40. . .
i think you should change your name to "pipmaster" or something. you seem to be good at picking topish and bottomish areas
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #58,764
  • Jan 11, 2008 9:55am Jan 11, 2008 9:55am
Quoting moneymagnet
i think you should change your name to "pipmaster" or something. you seem to be good at picking topish and bottomish areas
I use pivot points as my main tools and let the charts with fibs/trend lines and 5sma tell me which direction price is headed. Pivot points are very powerful, I didn't realize how much until I started using them. . . They can be used to scalp using 1hr/4hr pivots or they can be used for long trades using daily pivots.

Most times I just put buy or sell orders in just above or below (10/15 pips) the s/r and wait for it to hit my order. Once it hits I use a 50 pip stop loss to give geppy some room to breath, then set my TP target and sit back and watch price action. . . My goal is to use less stuff on my charts and just use them as a guide to tell me which way prices is going longer term. . .
  • #58,765
  • Jan 11, 2008 9:56am Jan 11, 2008 9:56am
the more i study my chart the more bearish i become.... but its been a long week and i am tired... i am looking to sell the upper tl and pick off some pips with very tight sl......

anyone still think long???? not me.... looks like that upper tl should hold quite nicely IMO
Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 18 KB
  • #58,766
  • Jan 11, 2008 10:07am Jan 11, 2008 10:07am
Quoting dagoods
the more i study my chart the more bearish i become.... but its been a long week and i am tired... i am looking to sell the upper tl and pick off some pips with very tight sl......

anyone still think long???? not me.... looks like that upper tl should hold quite nicely IMO
Hi dagoods.

Nice fib markers on the chart, How did you get those if you don't mind me asking?
  • #58,767
  • Jan 11, 2008 10:08am Jan 11, 2008 10:08am
Nice Fibo Pivot Chart,can you posting the Indicator?
thanks,best regards and nice weekend.
  • #58,768
  • Jan 11, 2008 10:09am Jan 11, 2008 10:09am
Q, just curious do you enter pivot points on your chart or do you just go to actionforex site see whats there and then analyze your trade?
  • #58,769
  • Jan 11, 2008 10:10am Jan 11, 2008 10:10am
there are many mt4 tools on ff just do a search on ff i wont post it until i test it some more though...... wouldnt want someone to rely on an indicator..... i am just learning fibs so....... this particular tool is called fibpivots if u are interested in testing it...u can do a ff search and download it from the thread where it came frommmm.... i recommend doing it that way so u can read about whatever tool u are interested in and the creators thought process behind it
  • #58,770
  • Jan 11, 2008 10:23am Jan 11, 2008 10:23am
Quoting vinesh2
Q, just curious do you enter pivot points on your chart or do you just go to actionforex site see whats there and then analyze your trade?
i use pivot timeframe mt4 software. its very easy and accurate
  • #58,771
  • Edited 10:42am Jan 11, 2008 10:23am | Edited 10:42am
Quoting dagoods
hey q i know u love pivots.... been playing with this tool check it out.... grrn and yellow are the fib pivots.... price undecided betweeen em right now...once it breaks it breaks to the upper or lower ......

ps since the upper green pivot was pierced...price should go up at some point to upper white line but i just started learning this so...... and it could go dwon first....
Here is my thoughts using pivots. . .

Today's daily pivot and s1/r1 is as follows: 213.31 (s1), 214.64 (pivot), 215.79 (r1), these are major s/r IMO, therefore if price sits or is rejected at any of these level that should give clues where price is headed next. It has to either go to the next resistance or support level right? Daily pivots can be used if you are a longer term trader. . .

However if you want to get a better view what price might be doing in between time you can key in on 4hr pivots which I talk about alot. . .
Here is an example of what GJ price is doing right now and you can expect it to hit these level once you determine which way price it headed. . .

4hr pivots, 211.75s3, 212.18s2, 212.66s1, 213.09pivot 213.57r1, 214.00r2, 214.48r3

Just to give you an example of how I used them today. . .
Price tanked to 211.98 which hit s3, so I new that was the bottom for the moment so I scaled out of my short from 215.05 and flip it long. Manage to get in @ 212.40 long for the ride up to at least 214/214.48. . . It hit 214 so far, that's why I said a close above 213.57 would get it up to the next r2 @ 214 and possibly 214.48 and daily pivot of 214.68. . .

Now price has gone back below 213.00 therefore acording to the 4hr pivot gj could go as low as 212.66 or back to test the lows where I would get long and do it all over again if it bounced. . .
  • #58,772
  • Jan 11, 2008 10:26am Jan 11, 2008 10:26am
Quoting kdoubled01
i use pivot timeframe mt4 software. its very easy and accurate
Agreed, I find it to be the most accurate in hitting targets, takes all the guess work out IMO. . .
  • #58,773
  • Jan 11, 2008 10:26am Jan 11, 2008 10:26am
dropping hard i see................
  • #58,774
  • Jan 11, 2008 10:32am Jan 11, 2008 10:32am
Quoting vinesh2
Q, just curious do you enter pivot points on your chart or do you just go to actionforex site see whats there and then analyze your trade?
I go to the site and use them just like I use charts. . .
The pivots tell me my targets, the charts tell me which way price is headed.
The pivots even give me my entry once I know where price is going, then I use the charts to see how price behaves on the way to my target to either let profits run to the next r/s level or to TP. Usually I 'll set my take profit and if it runs to the next s/r I'll look there to either get long or short. . . But I make sure I leave room just in case it goes to the next s/r where I'll add to my long or short. . .

Different methods and different ways to use them. . .
  • #58,775
  • Jan 11, 2008 10:38am Jan 11, 2008 10:38am
Quoting quecee5
Here is my thoughts using pivots. . .

Today's daily pivot and s1/r1 is as follows: 213.31 (s1), 214.64 (pivot), 215.79 (r1), these are major s/r IMO, therefore if price sits or is rejected at any of these level that should give clues where price is headed next. It has to either go to the next resistance or support level right? Daily pivots can be used if you are a longer term trader. . .

However if you want to get a better view what price might be doing in between time you can key in on 4hr pivots which I talk about alot. . .
Here is an example of what GJ price is doing right now and you can expect it to hit these level once you determine which way price it headed. . .

4hr pivots, 211.75s3, 212.18s2, 212.66s1, 213.09pivot 213.57r1, 214.00r2, 214.48r3

Just to give you an example of how I used them today. . .
Price tanked to 211.98 which hit s3, so I new that was the bottom for the moment so I scaled out of my short from 215.05 and flip it long. Manage to get in @ 212.40 long for the ride up to at least 214/214.48. . . It hit 214 so far, that's why I said a close above 213.57 would get up to the next r2 @ 214 and possibly 214.48 and daily pivot of 214.68. . .

Now price has gone back below 213.00 therefore acording to the 4hr pivot gj could go as low as 212.66 or back to test the lows where I would get long and do it all over again. . .

printing and saving for study thanks Q!!! you make it look so easy!!!
  • #58,776
  • Jan 11, 2008 10:46am Jan 11, 2008 10:46am
Quoting kdoubled01
i use pivot timeframe mt4 software. its very easy and accurate
Can it display 4hr and 1hr pivots? If so do you mind posting the indicator here? Thanks.
  • #58,777
  • Jan 11, 2008 10:47am Jan 11, 2008 10:47am
Quoting doughboi
dropping hard i see................
C'mon don't count GJ out just yet =
Its aleady made it low for the week so it has to go back up before it goes back down even lower. 214 maybe the top but maybe not. . .

A close above 213.31 would imply to me that we could see daily pivot next week. A close below daily pivot would imply 210 is in the cards next. . .
  • #58,778
  • Jan 11, 2008 10:48am Jan 11, 2008 10:48am
Thanks Q very helpful indeed!
  • #58,779
  • Jan 11, 2008 10:49am Jan 11, 2008 10:49am
Quoting Kane Rai
Can it display 4hr and 1hr pivots? If so do you mind posting the indicator here? Thanks.
Its not an indicator. . .
Go here you will be pleasantly surprised. . .
http://www.actionforex.com/technical...-200603215764/
  • #58,780
  • Jan 11, 2008 10:50am Jan 11, 2008 10:50am
Quoting vinesh2
Thanks Q very helpful indeed!
V, check this out. . .
http://www.actionforex.com/technical...-200603215764/
Another tool for your belt =
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