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

  • #60,201
  • Jan 27, 2008 7:15pm Jan 27, 2008 7:15pm
Quoting jarroo
We know how this pair loves that 50 fib on big moves. Thanks Karm.
If you also draw a fib from 230.30 to 204.60 on the daily chart, the 50% is 217.xx which also coincides with a TL and the 50ema, so whenever the bulls start to continue upwards, they should find strong resistance in the 217-219 area
Trade what you see, not what you think.
  • #60,202
  • Jan 27, 2008 7:27pm Jan 27, 2008 7:27pm
Quoting Michi
Hey Azerab,
Like it, really!
I'll have a look at it this week.
I'd have a small question though: when do you enter the trade exactly? When the prices cross the Laguerre filter, or do you wait for at least 1 or 2 candles to close before pulling the trigger?
Because there is a lot of "noise" close to the middle line (Laguerre line), sometimes prices are crossing, but then pull back, etc ... so could you please give me some further details about that?

I like this kind of simple system.
Thanks for your future reply,
Cheers
Hi Michi,

we should wait until both price crosses lag filter and rsi crosses 50 line. Look for divergences on rsi to identify trend reversal.

If there is lot of noise for either price crossing up and down the lag line or the same case for rsi crossing 50 line up and down, simply stay out until proper signal. This is 5M TF and you will naturally see lot of noise but after some time you will have enough experience to identify the right signal.

cheers.
Discipline + Patience - Fear - Greed = Success
  • #60,203
  • Jan 27, 2008 7:28pm Jan 27, 2008 7:28pm
Quoting karmostaji
If you also draw a fib from 230.30 to 204.60 on the daily chart, the 50% is 217.xx which also coincides with a TL and the 50ema, so whenever the bulls start to continue upwards, they should find strong resistance in the 217-219 area
Wave within a wave. (see avatar)

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #60,204
  • Jan 27, 2008 7:47pm Jan 27, 2008 7:47pm
Quoting arezab
Hi Michi,

we should wait until both price crosses lag filter and rsi crosses 50 line. Look for divergences on rsi to identify trend reversal.

If there is lot of noise for either price crossing up and down the lag line or the same case for rsi crossing 50 line up and down, simply stay out until proper signal. This is 5M TF and you will naturally see lot of noise but after some time you will have enough experience to identify the right signal.

cheers.
Ok thanks buddy,
I'll follow it closely next week!
  • #60,205
  • Edited Jan 28, 2008 5:54pm Jan 27, 2008 7:52pm | Edited Jan 28, 2008 5:54pm
Quoting karmostaji
If you also draw a fib from 230.30 to 204.60 on the daily chart, the 50% is 217.xx which also coincides with a TL and the 50ema, so whenever the bulls start to continue upwards, they should find strong resistance in the 217-219 area
Confluence with my S/R levels. I like it.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #60,206
  • Jan 27, 2008 8:35pm Jan 27, 2008 8:35pm
That would make a nice dead cat bounce.

Entered short at 211.15. Only testing 1$ a pip. I'd rather have the long move, later. Up 15 pips now.
  • #60,207
  • Edited 8:56pm Jan 27, 2008 8:44pm | Edited 8:56pm
Quoting JasonGuillen
That would make a nice dead cat bounce.

Entered short at 211.15. Only testing 1$ a pip. I'd rather have the long move, later. Up 15 pips now.

Added to my position (short) at the break of my S/R level at 211.10.
Indicators show the past. Price Action "Indicates" the future.
  • #60,208
  • Jan 27, 2008 9:01pm Jan 27, 2008 9:01pm
Quoting jarroo
Added to my position (short) at the break of my S/R level at 211.10.
I"m trying to post a chart (and failing to do so). But put a horizonal line at 211.11-15 area and look at periods
1-29-06 to 6-04-06 on the Daily or Weekly. This S/R has a good history.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #60,209
  • Jan 27, 2008 9:24pm Jan 27, 2008 9:24pm
Quoting JasonGuillen
That would make a nice dead cat bounce.

Entered short at 211.15. Only testing 1$ a pip. I'd rather have the long move, later. Up 15 pips now.
You should feel a little at ease that you are shorting in a down trend. This is a good thing. Yes?

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #60,210
  • Jan 27, 2008 9:30pm Jan 27, 2008 9:30pm
We are nearing first target down which is 210.50 (38.2) and if breached we will see 209.40 (50 fib). From there we can look for any sign of uptrend continuation.
Discipline + Patience - Fear - Greed = Success
  • #60,211
  • Jan 27, 2008 9:31pm Jan 27, 2008 9:31pm
USDGBP breaks this S/R level hard (1.9860-70 level) watch out GBPJPY on the down side.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #60,212
  • Jan 27, 2008 9:39pm Jan 27, 2008 9:39pm
Um yeah...awesome call. Entered 3 times, 67 pips up. Lets ride it and watch the thread. We keep enough eyes on it and we should have a nice sunday!!

Good call you guys!! Let's go!!
  • #60,213
  • Jan 27, 2008 9:42pm Jan 27, 2008 9:42pm
GBP break
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #60,214
  • Jan 27, 2008 9:47pm Jan 27, 2008 9:47pm
How sudden of a move will confirm this on Geppy?
  • #60,215
  • Jan 27, 2008 9:50pm Jan 27, 2008 9:50pm
Higher Time Frames + S/R (with good history) + Price Action=

and of course Karmo, Aus, . . . .

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #60,216
  • Jan 27, 2008 9:53pm Jan 27, 2008 9:53pm
Quoting JasonGuillen
How sudden of a move will confirm this on Geppy?
Immediate.

Unless USDJPY has something to say about it.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #60,217
  • Jan 27, 2008 9:59pm Jan 27, 2008 9:59pm
Life is good, we might be having a 4H candle formed below gann hilo.. that's good news for my short position.
Trade what you see, not what you think.
  • #60,218
  • Jan 27, 2008 10:02pm Jan 27, 2008 10:02pm
think we'll go below the 50fib now ?
4H closed below the 38.2 fib.

209.5 is my TP..... from 213, 212, 211
  • #60,219
  • Jan 27, 2008 10:08pm Jan 27, 2008 10:08pm
I see the 209.40 Fib. Do you also think we might bounce there?
  • #60,220
  • Jan 27, 2008 10:08pm Jan 27, 2008 10:08pm
Quoting kujo17
think we'll go below the 50fib now ?
4H closed below the 38.2 fib.

209.5 is my TP..... from 213, 212, 211
209.30 is in sight. But we may get a bounce up on the 210.00.

Life is Good.

Jim
Indicators show the past. Price Action "Indicates" the future.
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