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

  • #59,681
  • Jan 18, 2008 11:10am Jan 18, 2008 11:10am
Quoting quecee5
Here are two simple charts to determine what's going on with price and where it could be headed. . .
But like you said trade what you see =

that the 4 hour target q?

never mind here is MY chart lol
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gj 30 min.gif Size: 13 KB
Click to Enlarge Name: gj 4 hour.gif Size: 17 KB
  • #59,682
  • Jan 18, 2008 11:16am Jan 18, 2008 11:16am
Quoting HIFX
Q5,Cheers for the indicator.Bye the way,are there any guide lines for the Demark trendline ? Is it a buy or sell if either upper or lower values are broken. HIFX
Yep, just like any trend lines but best when used with pivots or fibs to set your targets. . . Hope this helps. . .
  • #59,683
  • Edited 12:10pm Jan 18, 2008 11:19am | Edited 12:10pm
Quoting moneymagnet
dagoods is better than i am. you have to be careful because when drawn in the wrong spot it will burn you. find the "skunny" thread. its awesome! here's an example, i think (hope) its right
tks my budd
  • #59,684
  • Jan 18, 2008 11:20am Jan 18, 2008 11:20am
Here is a chart more in line with pivots on www.actionforex.com
Please not (M's) are median support or resistance
Enjoy. . .
Attached Image (click to enlarge)
Click to Enlarge Name: 4hr chart 011808_7.gif Size: 28 KB
  • #59,685
  • Jan 18, 2008 11:29am Jan 18, 2008 11:29am
Quoting moneymagnet
i have an 138 fib ext at 208.28 as my first and 207.58 as 2nd
came within 7pips of that first fib then turned around as expected.
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #59,686
  • Jan 18, 2008 11:29am Jan 18, 2008 11:29am
Quoting moneymagnet
dagoods is better than i am. you have to be careful because when drawn in the wrong spot it will burn you. find the "skunny" thread. its awesome! here's an example, i think (hope) its right
Excellent chart =
  • #59,687
  • Jan 18, 2008 11:35am Jan 18, 2008 11:35am
Quoting quecee5
Excellent chart =
thanks
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #59,688
  • Jan 18, 2008 11:39am Jan 18, 2008 11:39am
Q, just curious what indicator are you using for Pivot levels that I see on your chart. I am using actionforex for pivot levels currently. Are they any good?
  • #59,689
  • Jan 18, 2008 11:44am Jan 18, 2008 11:44am
Double bottom on 1 hour chart.
Pin bar forming on 4 hour chart.
4 Hour QQE never crossed down.
Price action tells the story.
  • #59,690
  • Jan 18, 2008 11:45am Jan 18, 2008 11:45am
Quoting vinesh2
Q, just curious what indicator are you using for Pivot levels that I see on your chart. I am using actionforex for pivot levels currently. Are they any good?

i posted 3 different ones and q just posted one...find one u like.....


hey money here is what i am thinking skunnywise but i will watch those pivot levels also as targets..... if the second order gets filled.... (see chart)


what scares me is that i had fib targets and td 1 hout tl break target at 213.42 or so which i think may still come into play at some point but who knows...... maybe at this point those are history.... anyway thats y i dont trust targets ever and i definitely am not good at the skunny method and fibs yet at all.... but the pivots s1 s2 s 3 r1 r2 r3 etc. i respect a lot.... as they are true s and r in my experience.... such as it is....so far ... lol
Attached Image (click to enlarge)
Click to Enlarge Name: gj 4 hour.gif Size: 20 KB
  • #59,691
  • Jan 18, 2008 11:49am Jan 18, 2008 11:49am
Quoting Rustyyy
Double bottom on 1 hour chart.
Pin bar forming on 4 hour chart.
4 Hour QQE never crossed down.
Price action tells the story.
like i said i wouldnt be surprised to get choppy but the targets are there in theory.... on both sides of where price is now..... trade whaat u see to each his own....but up is risky right now IMHO.... then again trading is risky period
  • #59,692
  • Jan 18, 2008 12:12pm Jan 18, 2008 12:12pm
Quoting dagoods
i posted 3 different ones and q just posted one...find one u like.....


hey money here is what i am thinking skunnywise but i will watch those pivot levels also as targets..... if the second order gets filled.... (see chart)


what scares me is that i had fib targets and td 1 hout tl break target at 213.42 or so which i think may still come into play at some point but who knows...... maybe at this point those are history.... anyway thats y i dont trust targets ever and i definitely am not good at the skunny method and fibs yet at all.... but the pivots s1 s2 s 3 r1 r2 r3 etc. i respect a lot.... as they are true s and r in my experience.... such as it is....so far ... lol
yeah, i see what you're saying. i was actually bullish today but price changed that pretty quickly. when your s1 broke, because it was so strong, i expected a strong move down but when price started hedging i bailed. maybe because its friday who knows. that was about a 300 pip channel that it broke so i expect roughly a 300 pip drop. this probably wont happen today but maybe next week. we shall see! i got back in at 209.22 at a third of my normal position with a tight stop but i will let it ride through the weekend.
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #59,693
  • Jan 18, 2008 12:30pm Jan 18, 2008 12:30pm
I said a few days ago that if price got under 208 again I would start building a long term long position....Now it looks like I might be put to the test!! Just when you think the news cannot get any worse---it does! The fundamentals stink right now, but there is already a lot of bad news priced in. I am considering my first (small) long term long in the 208 area. A 500 pip drawdown is no problem, 1000 pip I could stand but it starts getting uncomfortable after that. Am I insane for even considering this? Thanks in advance for your thoughts.
  • #59,694
  • Jan 18, 2008 12:44pm Jan 18, 2008 12:44pm
Can some one tell me where can I check closing price of Daily candle on GJ at the end of the day. My broker closes at 6 so it would be hard for me to figure where did the price close. Thanks
  • #59,695
  • Jan 18, 2008 12:45pm Jan 18, 2008 12:45pm
Quoting vinesh2
Q, just curious what indicator are you using for Pivot levels that I see on your chart. I am using actionforex for pivot levels currently. Are they any good?
Try it out, you may like it, good for LTF (4hr and below,. . .) Need something different for HTF. . .
Attached File(s)
File Type: mq4 Pro4x Pivot Lines.mq4   15 KB | 349 downloads
  • #59,696
  • Jan 18, 2008 12:47pm Jan 18, 2008 12:47pm
Quoting vinesh2
Can some one tell me where can I check closing price of Daily candle on GJ at the end of the day. My broker closes at 6 so it would be hard for me to figure where did the price close. Thanks
http://www.fxstreet.com/rates-charts/charts-panel/
  • #59,697
  • Jan 18, 2008 1:01pm Jan 18, 2008 1:01pm
Quoting dagoods
i posted 3 different ones and q just posted one...find one u like.....


hey money here is what i am thinking skunnywise but i will watch those pivot levels also as targets..... if the second order gets filled.... (see chart)


what scares me is that i had fib targets and td 1 hout tl break target at 213.42 or so which i think may still come into play at some point but who knows...... maybe at this point those are history.... anyway thats y i dont trust targets ever and i definitely am not good at the skunny method and fibs yet at all.... but the pivots s1 s2 s 3 r1 r2 r3 etc. i respect a lot.... as they are true s and r in my experience.... such as it is....so far ... lol
This chart will be valid until it hits 206.50/80 because we have violated the rules (4hr gann hi/lo, break of trend lines, etc) = , below 206.50/80 will more than likely see 201. . .
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 4hr chart 011808_8.gif Size: 28 KB
Click to Enlarge Name: weekly 011808_0.gif Size: 36 KB
  • #59,698
  • Jan 18, 2008 1:05pm Jan 18, 2008 1:05pm
Q, whats your take on GBP/USD price action it has been bouncing off the Stop reverse level all day
  • #59,699
  • Jan 18, 2008 1:06pm Jan 18, 2008 1:06pm
Quoting dagoods
i posted 3 different ones and q just posted one...find one u like.....


hey money here is what i am thinking skunnywise but i will watch those pivot levels also as targets..... if the second order gets filled.... (see chart)


what scares me is that i had fib targets and td 1 hout tl break target at 213.42 or so which i think may still come into play at some point but who knows...... maybe at this point those are history.... anyway thats y i dont trust targets ever and i definitely am not good at the skunny method and fibs yet at all.... but the pivots s1 s2 s 3 r1 r2 r3 etc. i respect a lot.... as they are true s and r in my experience.... such as it is....so far ... lol
= I know people want price to go up but GJ is in a downtrend and the charts will tell us when its time to buy for long term. . .

TREND IS YOU FRIEND!
  • #59,700
  • Jan 18, 2008 1:11pm Jan 18, 2008 1:11pm
Quoting vinesh2
Q, whats your take on GBP/USD price action it has been bouncing off the Stop reverse level all day
Not monitoring GU right now. . .

Focusing on GJ with Aus's system with my own little twist.
This system will consist of 150 pips and greater. Goal is to only look at charts maybe 2-3 times a day like I have this week and set TP targets or decide to let profits run based on what the charts or telling me.

Once I get confi with this then I'll start trading UJ, EJ, GU and other pair using the same method. . .
Good luck in your trading =
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