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

  • #59,361
  • Jan 16, 2008 8:25am Jan 16, 2008 8:25am
Hit my target.....




Follow the trend, not your friends...



Quoting rgitt05
Close to my target..


You be the judge!!



rgitt05
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  • #59,362
  • Jan 16, 2008 8:34am Jan 16, 2008 8:34am
Quoting rgitt05
Hit my target.....




Follow the trend, not your friends...
Excellent! chart rgitt05. worth noting. thnx
  • #59,363
  • Jan 16, 2008 8:59am Jan 16, 2008 8:59am
It looks like we may get that chanced move up to 212 today and then BAM! I'm looking to add shorts there and all the way up if we get any higher than that. If not, then oh well, we still have profit kept no matter what! Its a great day! I'll be back on later tonight with, hopefully, with decent analysis that we could discuss, but for the moment Im going to visit my sister in Maryland. Have a great day everybody and good luck in your trades!

Orion, don't you even say 250's! lol I dont want that evil on me! haha
I dream, therefore I become.
  • #59,364
  • Jan 16, 2008 9:01am Jan 16, 2008 9:01am
Quoting mike w
It looks like we may get that chanced move up to 212 today and then BAM! I'm looking to add shorts there and all the way up if we get any higher than that.

Orion, don't you even say 250's! lol I dont want that evil on me! haha
211.79 is what I see on the daily thats the next fibo level on the move up from 180ish.
Patience + Humility + Study = Success
  • #59,365
  • Jan 16, 2008 9:05am Jan 16, 2008 9:05am
Quoting mike w
It looks like we may get that chanced move up to 212 today and then BAM! I'm looking to add shorts there and all the way up if we get any higher than that.

Orion, don't you even say 250's! lol I dont want that evil on me! haha

Hahaa, nice holding them positions Mike A+ job. Yea wishful thinking maybe, have to see how things react in a bit. Not sure if ABC correction for that extension wave 3 up we did jan 05 or deeper correction and we are working a wave 4 of wave 3 down. time will tell. Nice work though

But im inclined to think this


Then again it doesnt matter what any of us retail traders think or want its how professional money see's it
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"Millionaires don't use astrology, billionaires do"
  • #59,366
  • Jan 16, 2008 9:24am Jan 16, 2008 9:24am
Quoting lepiricus
Here is a u/j chart. I've had these fibs drawn for days now and it finally hit my 106.18 mark. I am expecting to see 107.60 before 105 and gbb/jpy to follow suit.

Also, the g/j chart I posted a while back I said I was looking to buy at about 208. My 208 was hit and I am long from there. I would not be suprised to see this trade get a few hundred pips in drawdown, but its a long term trade. you will always get cut trying to catch a falling knife.

Had I not taken the g/j trade I would have went long on u/j at 106.20 and TP at 107.60 witha stop just below 105.
update: My long from 208 is in profit now and I am locked +1 pips. I am targeting 213 right now for my first TP to close 75% of my position and looking at 219 longer term for the other 25%. I half expected a bounce at 205, but I'll take this too.
  • #59,367
  • Jan 16, 2008 10:33am Jan 16, 2008 10:33am
Quoting mike w
It looks like we may get that chanced move up to 212 today and then BAM! I'm looking to add shorts there and all the way up if we get any higher than that. If not, then oh well, we still have profit kept no matter what! Its a great day! I'll be back on later tonight with, hopefully, with decent analysis that we could discuss, but for the moment Im going to visit my sister in Maryland. Have a great day everybody and good luck in your trades!

Orion, don't you even say 250's! lol I dont want that evil on me! haha
Here are two charts for this forum, going back to Aus 1hr/4hr strategy with a twist. . .

1hr chart very bullish if you were able to get in at the bottom. Should have been good for at least 200 pips. . .

4hr charts, looks like there is resistance @ the 4hr Gann hi/lo, a break above would target stop/reverse 1st (thick white line). A clean break above the stop/reverse would target my mouteki-Demark trend line targets (dotted red lines). . .

Failure to get above stop/reverse and a 1hr close above mouteki-demark trend line would be a good shorting opportunity. . . A close above should be good for at least 150-300 pips. . .

Good luck with your trading today. . .
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  • #59,368
  • Jan 16, 2008 10:51am Jan 16, 2008 10:51am
Quoting quecee5
Here are two charts for this forum, going back to Aus 1hr/4hr strategy with a twist. . .

1hr chart very bullish if you were able to get in at the bottom. Should have been good for at least 200 pips. . .

4hr charts, looks like there is resistance @ the 4hr Gann hi/lo, a break above would target stop/reverse 1st (thick white line). A clean break above the stop/reverse would target my mouteki-Demark trend line targets (dotted red lines). . .

Failure to get above stop/reverse and a 1hr close above mouteki-demark trend line would be a good shorting opportunity. . . A close above should be good for at least 150-300 pips. . .

Good luck with your trading today. . .
hey q u havent been posting as much i was getting worried! lol.... maybe you were brushing up on your demark! I LIKE IT! lol one quick not on mouteki/demark.... the targets are not very reliable... I use fibs as targets because they are much more reliable.... demark/mouteki targets after a tl break are good guides but often are targeting 161 or more fib and i only feel safe to 138 for example.... also, i only feel really comfi when its a tl that has 3 touches that breaks otherwise i monitor really carefully.... furthermore, lol, a breach can occur of a tl without a break so u have to have a penetration and a close above tl or a breach of the high previoulys of the tl in question if that makes sense,..just my 2 cents

PS here is my 4 hour tl i am working off for all to see demark tl q is talking about

ps for otherr reasons.... think it may break
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  • #59,369
  • Edited 11:11am Jan 16, 2008 10:57am | Edited 11:11am
fib targets

as opposed to mouteki 1 hour break target of 214.42 (not impossible but you can see how that is very unreliable)
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  • #59,370
  • Edited 11:12am Jan 16, 2008 10:57am | Edited 11:12am
Usd/Yen

Here is a look today's price action chart.......
-------------------------------------------- -----
http://i7.tinypic.com/816hc76.gif
  • #59,371
  • Jan 16, 2008 11:00am Jan 16, 2008 11:00am
Quoting dagoods
hey q u havent been posting as much i was getting worried! lol.... maybe you were brushing up on your demark! I LIKE IT! lol one quick not on mouteki/demark.... the targets are not very reliable... I use fibs as targets because they are much more reliable.... demark/mouteki targets after a tl break are good guides but often are targeting 161 or more fib and i only feel safe to 138 for example.... also, i only feel really comfi when its a tl that has 3 touches that breaks otherwise i monitor really carefully.... furthermore, lol, a breach can occur of a tl without a break so u have to have a penetration and a close above tl or a breach of the high previoulys of the tl in question if that makes sense,..just my 2 cents
Dagoods, very good input.
I guess I said that in my post but wasn't very clear, so thank you for the clarification.

Anyway, haven't been posting much in the past couple of days b/c's I'm working on a simple system using a few new indicators. . .

However, been grabbing the pips on the way down and up like crazy, fun stuff. . .

Stay tuned. . .
  • #59,372
  • Jan 16, 2008 11:09am Jan 16, 2008 11:09am
Quoting dagoods
fib targets
What fib indicator are u using????
  • #59,373
  • Jan 16, 2008 11:11am Jan 16, 2008 11:11am
just got back from uni..missed that beautiful up move ive been waitin for all week...sucks!..any thoughts how high we will go?..ive got a trend line and fib level around where price is now
Fear's for the other guy
  • #59,374
  • Jan 16, 2008 11:15am Jan 16, 2008 11:15am
while we are on subject... i just thought i'd note that 1 hour moutekis are not reliable IMHO so i use fibs instead and pa to confirm..... see chart... if we break 210.93 then target 1 is in play
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  • #59,375
  • Jan 16, 2008 11:18am Jan 16, 2008 11:18am
Quoting quecee5
What fib indicator are u using????
You need to take a look at the Skunny thread. His use of fibs has help me (and dagoods) tremendously. So far, the method has been failproof, along with a MACD and moving average, nothing but positive trades since... I trade the swings, put a fib on the high and low of swing and trade the break outs of the 0-100
  • #59,376
  • Jan 16, 2008 11:20am Jan 16, 2008 11:20am
Quoting DollaBill
You need to take a look at the Skunny thread. His use of fibs has help me (and dagoods) tremendously. So far, the method has been failproof, along with a MACD and moving average, nothing but positive trades since... I trade the swings, put a fib on the high and low of swing and trade the break outs of the 0-100
Thxs, please post a link to the thread. . .
  • #59,377
  • Jan 16, 2008 11:20am Jan 16, 2008 11:20am
Quoting quecee5
What fib indicator are u using????

i have a template someone gave me that has buy/sell at 0 and 100 , but its just drawn from mt4 fb tool... do u want the template?

i think this is the one if not its a diffrent one let me know i can post the other one
Attached File(s)
File Type: tpl # dxtrade fibs.tpl   2 KB | 479 downloads
  • #59,378
  • Jan 16, 2008 11:31am Jan 16, 2008 11:31am
Quoting DollaBill
You need to take a look at the Skunny thread. His use of fibs has help me (and dagoods) tremendously. So far, the method has been failproof, along with a MACD and moving average, nothing but positive trades since... I trade the swings, put a fib on the high and low of swing and trade the break outs of the 0-100
Indicator Free Trading - Skunny
  • #59,379
  • Jan 16, 2008 11:34am Jan 16, 2008 11:34am
Quoting dagoods
while we are on subject... i just thought i'd note that 1 hour moutekis are not reliable IMHO so i use fibs instead and pa to confirm..... see chart... if we break 210.93 then target 1 is in play

right now i have a buy stop order in at 211.05 which would be filled and then should reach the first fib taget...if its not filled no big deal.... safest way to trade mouteki IMHO
  • #59,380
  • Jan 16, 2008 12:03pm Jan 16, 2008 12:03pm
Quoting marketwavez
Usd/Yen

Here is a look today's price action chart.......
-------------------------------------------- -----
http://i7.tinypic.com/816hc76.gif
Heya MW, Any chance you'd post you current GY wave chart? Right now im thinking this up could be a correction and currently on wave c. And soon to start another 1-5 down. 15m TF for that. 1 hour looking like end of wave 1(or a)
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