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

  • #59,401
  • Jan 16, 2008 2:15pm Jan 16, 2008 2:15pm
Thanks MM ya overbought. phew!
  • #59,402
  • Jan 16, 2008 2:16pm Jan 16, 2008 2:16pm
Quoting moneymagnet
i am still trying to figure out skunny's method with fibo's. if i have this plotted right shouldn't we now test the 138 ext. we can within a couple pips of yesterdays high and a break should target that ext. any thoughts?

cant see your fibs mm what numbers are they drwan from i will see if i can get on same page

ps if u fib this way u might see this as a price decision "pivot type" area here
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  • #59,403
  • Jan 16, 2008 2:26pm Jan 16, 2008 2:26pm
this is how i have mine at this moment thoguh... but i am only just learning this method and by no means rely on me (as usual)
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  • #59,404
  • Jan 16, 2008 2:29pm Jan 16, 2008 2:29pm
Quoting dagoods
this is how i have mine at this moment thoguh... but i am only just learning this method and by no means rely on me (as usual)
Should move it over 1 place to the next highest point.
  • #59,405
  • Jan 16, 2008 2:35pm Jan 16, 2008 2:35pm
Close above the 78.6 fib, 117 & higher probably.

Rejection at the 61.8 fib, 207 & lower.
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  • #59,406
  • Jan 16, 2008 2:38pm Jan 16, 2008 2:38pm
Quoting forexnovice
Close above the 78.6 fib, look for 117 & higher

Rejection at the 61.8 fib, 207 & lower.

i love your charts fn so clear of a picture! is that aus system straight up? or have u modified it?
  • #59,407
  • Jan 16, 2008 2:43pm Jan 16, 2008 2:43pm
Quoting dagoods
i love your charts fn so clear of a picture! is that aus system straight up? or have u modified it?
Thanx Dagoods. Yes its Aus' 4hr/1hr setup.
  • #59,408
  • Jan 16, 2008 2:47pm Jan 16, 2008 2:47pm
Quoting arezab
I had a question,

Does anybody know in market like this which a pair strengthens and the central bank of the nation wants to interfere to keep it's currency weak, (for example this case could happen now for Yen with interference of BOJ), how they do that, I mean they buy the opposite currency or sell it? And what amount will be injected into the market to affect the the price in so large an extent?

Thank you for any idea, I appreciate.
if they change the interest rate that affects the value of the currency, they also can play with the inflation i.e. to affect the purchasing power of the local consumers which gets reflected on the power of the currency...

that could be wrong however...
  • #59,409
  • Jan 16, 2008 2:55pm Jan 16, 2008 2:55pm
Quoting forexnovice
Close above the 78.6 fib, 117 & higher probably.

Rejection at the 61.8 fib, 207 & lower.
Forexnovice, I was going to take profit at 212.15 till i saw your post (which i respect alot) i will close one position and run a 35 stop loss on my other pos.
Regards
carl
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  • #59,410
  • Jan 16, 2008 2:58pm Jan 16, 2008 2:58pm
Quoting boomer1
Forexnovice, I was going to take profit at 212.15 till i saw your post (which i respect alot) i will close one position and run a 35 stop loss on my other pos.
Regards
carl

you might want to trade your own plan... fn can correct me if i am wrong but a 35 sl is might be just a waste of 35 pips maybe or maybe not... i dont know.... but fn is a long term trader (i think) with more tolerance for pullbacks and drawdowns and risk..... always have you own plan my man!
  • #59,411
  • Jan 16, 2008 3:00pm Jan 16, 2008 3:00pm
Quoting boomer1
Forexnovice, I was going to take profit at 212.15 till i saw your post (which i respect alot) i will close one position and run a 35 stop loss on my other pos.
Regards
carl
Thanks. Could you clarify that? U were long earlier and closed it now ? And on the 2nd postion u r long or short with a 35 pip SL? Do u follow Aus 4hr/1hr strategy?
  • #59,412
  • Jan 16, 2008 3:02pm Jan 16, 2008 3:02pm
May I ask how do you guys figure out the lower time frame FIBS. I know how to draw Daily, Weekley and Monthly Fibs. However, in lower time frames have a heard time figureing out which candle to draw from. I know I have to draw from swing low to swing high or the other way around but not sure how many candles before or after I have to draw the candle from. Helo would be appeciated
  • #59,413
  • Jan 16, 2008 3:04pm Jan 16, 2008 3:04pm
Quoting dagoods
you might want to trade your own plan... fn can correct me if i am wrong but a 35 sl is might be just a waste of 35 pips maybe or maybe not... i dont know.... but fn is a long term trader (i think) with more tolerance for pullbacks and drawdowns and risk..... always have you own plan my man!
Spot on Dagoods 35 pips is not a good SL while trading GJ unless one is a very good scalper.
  • #59,414
  • Jan 16, 2008 3:06pm Jan 16, 2008 3:06pm
Quoting vinesh2
May I ask how do you guys figure out the lower time frame FIBS. I know how to draw Daily, Weekley and Monthly Fibs. However, in lower time frames have a heard time figureing out which candle to draw from. I know I have to draw from swing low to swing high or the other way around but not sure how many candles before or after I have to draw the candle from. Helo would be appeciated

thats the million dollar question! i wish i knew! CAN ANYONE HELP US?
  • #59,415
  • Jan 16, 2008 3:11pm Jan 16, 2008 3:11pm
Hey fellas, here's that Gartley fib pdf if you don't already have it.
Attached File(s)
File Type: pdf Fibonacci Gartley Pattern Tutorial.pdf   161 KB | 5,786 downloads
"Only when the tide goes out will we know who is swimming naked."
  • #59,416
  • Jan 16, 2008 3:25pm Jan 16, 2008 3:25pm
Quoting forexnovice
Thanks. Could you clarify that? U were long earlier and closed it now ? And on the 2nd postion u r long or short with a 35 pip SL? Do u follow Aus 4hr/1hr strategy?
forexnovice,I had 2 pos open. karmo taught me to watch the 50%fib, the 2nd pos when it hits the 50fib I will put a trailing stoploss on (sorry my mistake).
I use Aus strategy more as confirmation because i am still reading thru it.
Carl
  • #59,417
  • Jan 16, 2008 3:27pm Jan 16, 2008 3:27pm
Quoting vinesh2
May I ask how do you guys figure out the lower time frame FIBS. I know how to draw Daily, Weekley and Monthly Fibs. However, in lower time frames have a heard time figureing out which candle to draw from. I know I have to draw from swing low to swing high or the other way around but not sure how many candles before or after I have to draw the candle from. Helo would be appeciated
How did u plot fibs on the daily, weekly.... From Swing lo to swing hi, or basically from areas of Strong Support to areas of Strong Resistance. Follow similar procedure on the smaller TFs.

Look at 117.30 on 4hr. Thats the area from where price made a 1000 pip swing south since it failed to get any higher.

Todays lo @ 106.98 is where price found strong support and made a 400 pip swing upwards.

So there you have the hi & lo.

Combine that with TLs, Pivot Points on the 4hr/daily/weekly/monthly + Aus indicators and you will understand PA better.

If you are planning to implement the 4hr/1hr strategy, read up all you can about it on Aus' site & also on this thread. There have been very few cases where it has failed for me, although it requires bucketful of patience pill, & that was only bcoz of getting in early or not following all the rules to the letter.
  • #59,418
  • Jan 16, 2008 3:31pm Jan 16, 2008 3:31pm
Quoting boomer1
forexnovice,I had 2 pos open. karmo taught me to watch the 50%fib, the 2nd pos when it hits the 50fib I will put a trailing stoploss on (sorry my mistake).
I use Aus strategy more as confirmation because i am still reading thru it.
Carl
Good work on the longs

Good Night all. Trade Well
  • #59,419
  • Jan 16, 2008 3:37pm Jan 16, 2008 3:37pm
Quoting dagoods
you might want to trade your own plan... fn can correct me if i am wrong but a 35 sl is might be just a waste of 35 pips maybe or maybe not... i dont know.... but fn is a long term trader (i think) with more tolerance for pullbacks and drawdowns and risk..... always have you own plan my man!
35 pips on the pj is a waste. u r correct sir.
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #59,420
  • Jan 16, 2008 3:44pm Jan 16, 2008 3:44pm
Quoting forexnovice
Close above the 78.6 fib, 117 & higher probably.

Rejection at the 61.8 fib, 207 & lower.
I'm also using Aus's 1hr/4hr system with a twist =
Very reliable to say the least, don't have to sit in front of the computer as much. . .
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