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Daily GBP/JPY analysis

  • #14,261
  • Jan 14, 2008 8:26am Jan 14, 2008 8:26am
Alright here is the 1hr GY with my questionable ganns.

I personally thnk your is much better but I ahve been using this for break down trades. I am in a prison of my own bias methinks as in my testing I looked for things I look for and didn;t just "see" the market.

as it stand I could prolly only trade this on break outs.

On yer 15min I like the supports coming at intersections of ganns.. possibly that is the thing to watch...

My opinion is that these are like fibs... the are more effective and less effective and many different uses so should prolly target the goal and see how best to make them work for that. Your thoughts?


Gann is aline tool on any charting platform I think.


Sizz
Attached Image (click to enlarge)
Click to Enlarge Name: gygann.gif Size: 18 KB
  • #14,262
  • Jan 14, 2008 8:28am Jan 14, 2008 8:28am
Quoting fxstman
where can I find this Gann indicator?
Thank You
In MT4 from the top tool bar: Insert / Gann / Gann Line
Trading Levels with WRBs
  • #14,263
  • Jan 14, 2008 8:31am Jan 14, 2008 8:31am
Quoting Islander
In MT4 from the top tool bar: Insert / Gann / Gann Line
Thanx!
  • #14,264
  • Jan 14, 2008 8:32am Jan 14, 2008 8:32am
OK This is my GU 1 hour with 1.0 lines in blue and 4.0 in magenta. I would think that its best to start with whole numbers unless the fraction is some sort of gann ratio - but I've never used gann so I'll have to start research into that
Attached Image (click to enlarge)
Click to Enlarge Name: jan 14 gu gann 1430.gif Size: 17 KB
Trading Levels with WRBs
  • #14,265
  • Jan 14, 2008 8:44am Jan 14, 2008 8:44am
Quoting Islander
OK This is my GU 1 hour with 1.0 lines in blue and 4.0 in magenta. I would think that its best to start with whole numbers unless the fraction is some sort of gann ratio - but I've never used gann so I'll have to start research into that
I agree. In keeping with everything simple is best. My lines were skewed towards looking for breakdowns which I trade normally.

I think the end goal (for me) is to have a set of dynamic s/r that would be able to coincide with fibs aka my tp would also be at a Gann line

Now food for thought, if we were to grab Skunny charts with Gann on the we could replicate the angle and study that.

to my knowledge he has posted EJ, GU and GY,EU that is where I am heading now...I will let you know the setting I come up with.

Sizz
  • #14,266
  • Edited 9:11am Jan 14, 2008 8:51am | Edited 9:11am
So far GY 15 MIN looks like 1.3 +-

I will edit this as it goes.

EU 1hr looks to be 1 +-

ej 1.07 or 1-

The best question is how the funk to trade this... just draw line from highs lows and look for confirmation on a fib?
  • #14,267
  • Jan 14, 2008 9:51am Jan 14, 2008 9:51am
Quoting sizzler
So far GY 15 MIN looks like 1.3 +-

I will edit this as it goes.

EU 1hr looks to be 1 +-

ej 1.07 or 1-

The best question is how the funk to trade this... just draw line from highs lows and look for confirmation on a fib?
LOL - if it was easy, we'd all be billionairs by now!

From what little I've found, we should stick with 1,2,4 & 8 as the ratios. What I'm looking for as a start is a ratio that consistantly picks out 3 or more useable TPs and then see if this line will give an intersection with a price line - either a prior level or as a fibo extn. - historically, that may actually be the third point in the series.
Trading Levels with WRBs
  • #14,268
  • Jan 14, 2008 10:04am Jan 14, 2008 10:04am
Quoting Islander
LOL - if it was easy, we'd all be billionairs by now!

From what little I've found, we should stick with 1,2,4 & 8 as the ratios. What I'm looking for as a start is a ratio that consistantly picks out 3 or more useable TPs and then see if this line will give an intersection with a price line - either a prior level or as a fibo extn. - historically, that may actually be the third point in the series.
I have no idea where and why do we start the Gann line at a certain point. Sorry for the dumb ? It just did not seem that it used any candles as support for the area to draw. I have no idea what I am talking about.
Nikki
  • #14,269
  • Jan 14, 2008 10:07am Jan 14, 2008 10:07am
Still have my longs, added on dip...looking for 217 this week.
  • #14,270
  • Jan 14, 2008 10:36am Jan 14, 2008 10:36am
Now this looks interesting - using 1,2 & 4
Attached Image (click to enlarge)
Click to Enlarge Name: jan 14 gu 1hr multi gann.gif Size: 18 KB
Trading Levels with WRBs
  • #14,271
  • Jan 14, 2008 11:22am Jan 14, 2008 11:22am
Quoting nikkipip4
I have no idea where and why do we start the Gann line at a certain point. Sorry for the dumb ? It just did not seem that it used any candles as support for the area to draw. I have no idea what I am talking about.
Nikki
This is work in progress and as most Gann practicioners have followed the master's lead and speak in riddles, we are attempting to interpolate from the cryptic charts that pop up from time to time.
Trading Levels with WRBs
  • #14,272
  • Jan 15, 2008 2:48am Jan 15, 2008 2:48am
As a picture is worth a thousand words........
Attached Image (click to enlarge)
Click to Enlarge Name: jan 15 5m 0845.gif Size: 15 KB
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  • #14,273
  • Jan 15, 2008 4:24am Jan 15, 2008 4:24am
Quoting Islander
As a picture is worth a thousand words........
Hi Islander,
I have been reading your posts with a lot of interest in Aus's thread, later in skunny's and now here.
Would you have taken this trade because of the rejection of the 50 line of the first fibs or at the break of the 100 line of the second fibs (but in that case, what a waste of pip). But is the rejection of the 50 line enough to take the chance?
an other reason?
please excuse my english, it's not my first language.
Thanks
Schmurex
  • #14,274
  • Jan 15, 2008 4:42am Jan 15, 2008 4:42am
Quoting Islander
As a picture is worth a thousand words........
Nice Izzie!

nice lil fan with which to play a range My question my nagging question on all of Gann stuff. ( oh yes and I am am so far behind you on gann I can't even see your car but Gann was exact. Not like kind of.. he was to the tick and time.

What are your thoughts there? I can work with close orrrr horseshoes and handgrenades?

also what were you setting on this pup. I have been fibbin my brains out and have prolly today and maybe tomorrow before I cycle my data, but I would like to crush out some gann after or as a break.

Sizz
  • #14,275
  • Jan 15, 2008 4:54am Jan 15, 2008 4:54am
Quoting sizzler

What are your thoughts there? I can work with close orrrr horseshoes and handgrenades?
WMD might be more appropriate

Great chart Islander.
Gone to a better place
  • #14,276
  • Jan 15, 2008 5:01am Jan 15, 2008 5:01am
Quoting schmurex
Hi Islander,
I have been reading your posts with a lot of interest in Aus's thread, later in skunny's and now here.
Would you have taken this trade because of the rejection of the 50 line of the first fibs or at the break of the 100 line of the second fibs (but in that case, what a waste of pip). But is the rejection of the 50 line enough to take the chance?
an other reason?
please excuse my english, it's not my first language.
Thanks
Schmurex
Good question - and best posted here as my answer is not in line with what has been mentioned so far by Skunny.

The chart gave us 2 clues - first it got turned at a 100 level and GJ likes the 00 levels (and pivots too, but thats another story!) and second it was around the 50% level - another often respected level - so some synergy building up.

Then there was a Lower High - to me that is VERY importance and gives me the confidence to take a short entry - the break of the low by the magenta liine is a safe trade with a tight 35 pip or so stop above the highs.
Attached Image (click to enlarge)
Click to Enlarge Name: jan 14 5m gj entry.gif Size: 12 KB
Trading Levels with WRBs
  • #14,277
  • Jan 15, 2008 5:12am Jan 15, 2008 5:12am
Quoting sizzler
Nice Izzie!

nice lil fan with which to play a range My question my nagging question on all of Gann stuff. ( oh yes and I am am so far behind you on gann I can't even see your car but Gann was exact. Not like kind of.. he was to the tick and time.

What are your thoughts there? I can work with close orrrr horseshoes and handgrenades?

also what were you setting on this pup. I have been fibbin my brains out and have prolly today and maybe tomorrow before I cycle my data, but I would like to crush out some gann after or as a break.

Sizz
LOL Sizz - you're not far behind - if at all - and I'm easy to catch these days, just a standard BMW 325 coupe - not even an M3!!

First, I'm not an expert on Gann, but when I spent 6 months working with esoteric ideas on Wave 59, the first thing we had to do was to square our charts. That involved finding the correct price / time relationship for each contract traded - when you get it correct, geometric shapes, sacred geometry, Gann, fibonacci vortexes etc all work. Without being able to square the chart nothing is accurate - and I guess thats what we have here - possibly a usuable approximation and thus some inaccuracy.

For the lines - as I suggested before - try the whole numbers http://www.forexfactory.com/images/icons/icon12.gif
Trading Levels with WRBs
  • #14,278
  • Jan 16, 2008 2:02am Jan 16, 2008 2:02am
Quoting Islander
Good question - and best posted here as my answer is not in line with what has been mentioned so far by Skunny.

The chart gave us 2 clues - first it got turned at a 100 level and GJ likes the 00 levels (and pivots too, but thats another story!) and second it was around the 50% level - another often respected level - so some synergy building up.

Then there was a Lower High - to me that is VERY importance and gives me the confidence to take a short entry - the break of the low by the magenta liine is a safe trade with a tight 35 pip or so stop above the highs.
Hi Islander,
Thanks so much for your explanation, I suspected there was more to it...
I learn a little more every day from experienced traders like you.
I went back to my Gj chart to try to replicate your gann lines and I discovered 2 previously drawn fibs which got their target almost pip perfect (actually 2 pip shy). Ill try to attach 2 charts: the first one is GJ H1 and show mi 2 fibs blue and red and your yellow fib.
The second chart is GJ M5 and show the targets : My blue fib target in A (where was your your golden fib target), then a retrace and rejection from a cluster of the yellow 50%, blue 0.00 and red 23% and your yellow target in B and a little further the red target very close to Blue -1.62.
Another larger encompassing fib. from the 07/12/27 high of 238.36 to the 08/01/04 low of 213.46 gives a target of 207.73 or the red -1.68 of 207.48 which could well be the signal for a serious retrace.
All that said, I still don't know how to trade that and your explanations give me some clues.
Regarding the Gann lines, I believe that you used -5 and -10 ? I noticed that if I want to keep them at the same place their setting should be -60 and -120 on H1 which makes switching TF for analysis, very difficult. Do I set them the right way? I still don't know how to draw them on the chart: I put the first end where I want, then sliding the second point does not make it go where I would like so I select the line slide the third square about where I think it should be, then go to the setting and change the scale setting for a round number since yous said so...
Is there a simpler way?
Thanks Bro...
Schmurex
PS. While connecting to the internet to send this post (no Hi Speed here, I live on a remote Island...) I could see that 207.73 has already been broken and price seems to consolidate on 207.48 but nothing very impressive It looks like it's going further down... next stop 205.90?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GJ. H1. 080116.jpg Size: 126 KB
Click to Enlarge Name: GJ. M5. 080116.jpg Size: 132 KB
  • #14,279
  • Jan 16, 2008 4:40am Jan 16, 2008 4:40am
This is crasy.
GBP/JPY fall down 207.
It is so cool.But my suggesting is just buy it
Today GBP/JPY is fall 300 pips.
But today is the best day to buy gbp/jpy.
I send the words for all forex people:"Don't afraid it.Buy it now."
My name is liujiangshi. {Links Removed}
  • #14,280
  • Jan 16, 2008 4:50am Jan 16, 2008 4:50am
Hi,
Could you explain why to buy? or at what price do you think this is going to reverse?

regards
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