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

  • #63,461
  • Feb 25, 2008 10:29am Feb 25, 2008 10:29am
UJ bounced off the lower trendline and made it back to the upper trendline in a little more than 24 hours. I would be real careful with GJ long here.
Attached Image (click to enlarge)
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  • #63,462
  • Feb 25, 2008 10:32am Feb 25, 2008 10:32am
Quoting karmostaji
Regarding the MOM, i've noticed that sometimes the Sunday/Monday Daily MOM reading is not accurate, something I've observed.
agreed.
i use both aus 1hr/4hr and momentoms strategies.
in the open of today i saw weekly 10c and 14c momentoms are bullish but 1c momentom was slightly bearish.
also all daily momentoms were so bearish.
in other side,i consider that price in daily,4hr and 1hr is above gann and in these time frames QQE5 is crossed up.

with these observation i thought price first may reach daily gann(that confluence with daily 5sma low),and if daily gann hold it then price will bounce upward till weekly 5sma high or so higher.

but price before reach that area turned bullish and reached this area.
now i think 213 area is max for today and before any good retracement price can't go higher.

ps:just my 2 cent.
  • #63,463
  • Feb 25, 2008 10:32am Feb 25, 2008 10:32am
Quoting $teve
UJ bounced off the lower trendline and made it back to the upper trendline in a little more than 24 hours. I would be real careful with GJ long here.
Thanks, $teve. We're thinking a retracement is due as well.
Indicators show the past. Price Action "Indicates" the future.
  • #63,464
  • Feb 25, 2008 10:37am Feb 25, 2008 10:37am
Quoting OrionsWay
Its not cryptic but it is complicated


Quoting karmostaji
Regarding the MOM, i've noticed that sometimes the Sunday/Monday Daily MOM reading is not accurate, something I've observed.
True, Aus uses FXDD and their Sunday /Monday daily momentum is totally different from InterbankFX which I use. Probably has to do with the inclusion/ non inclusion of the Sunday bar as a day. The weekly momentums however are both the the same.

The bounce off the weekly high sma would have been a good one, I need to be more nimble next time.
Attached Image (click to enlarge)
Click to Enlarge Name: weeklyy-gbpyen.gif Size: 41 KB
  • #63,465
  • Feb 25, 2008 10:40am Feb 25, 2008 10:40am
Quoting jarroo
Thanks, $teve. We're thinking a retracement is due as well.
retrace to 209.7 ?
  • #63,466
  • Feb 25, 2008 10:40am Feb 25, 2008 10:40am
Quoting OrionsWay
Its not cryptic but it is complicated, its basically a 1x1 angle is 1 unit of price over 1 unit of time across a grid all working within a scale. Gann isnt easy to comprehend thus why not so popular, no instant gratification, The most complicated of any trading system but the most accurate as well.

Suppy= always selling or resistance
Demand = always buying or support

Those angles will always represent supply and demand in accordance to price movements over time movements thus telling the strength of a move or what is needed to complete that move in terms of strength or weakness in any market.
Sorry cant get in to it more, that is the kindergarden assessment

that being said this is same chart as earlier posted, it is no suprise to see supply enter the market at these levels, and it will be no suprise to see demand if its there overcome these angles of supply
nice chart, great job
  • #63,467
  • Feb 25, 2008 10:47am Feb 25, 2008 10:47am
This is how the Yen looks ahead, as above so below notice MT thick pink would be target while thick black was sufficent resistance now turned support, Lo is in imo
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"Millionaires don't use astrology, billionaires do"
  • #63,468
  • Feb 25, 2008 10:52am Feb 25, 2008 10:52am
Quoting marcb
retrace to 209.7 ?

Not sure if that 50 fib is in play or not?
Indicators show the past. Price Action "Indicates" the future.
  • #63,469
  • Feb 25, 2008 11:12am Feb 25, 2008 11:12am
An excellent trade today ...
Attached Image (click to enlarge)
Click to Enlarge Name: fib demark.gif Size: 26 KB
Discipline + Patience - Fear - Greed = Success
  • #63,470
  • Feb 25, 2008 11:27am Feb 25, 2008 11:27am
Quoting arezab
An excellent trade today ...
can u give me this one of ur indicator FIB with a target levels
thx
  • #63,471
  • Edited 7:18pm Feb 25, 2008 11:28am | Edited 7:18pm
a guess
http://www.tradingrooms.com/chartpos...5200814303.png

now
http://www.tradingrooms.com/chartpos...5200817350.png

& then GJ30m
http://www.tradingrooms.com/chartpos...2620080153.png

but it doesn't mean up-trend is over
  • #63,472
  • Feb 25, 2008 11:37am Feb 25, 2008 11:37am
Quoting Jerry
can u give me this one of ur indicator FIB with a target levels
thx
This is not a single indicator. You already have Fibonacci tool on MT4 platform but you should manipulate the values in levels tab and add your desired descriptions in front of them (as I did), nothing special and easy. You need to enter the following values and their respective descriptions for your fibo tool to exactly show up like mine. .

level description

0 BUY@ %$
0.382 38.2
0.5 %$ - 50.0
0.618 61.8
1 Sell@ %$
0.764 76.4
1.382 Target1 138 = %$
-0.382 Target1 138 = %$
-0.618 Target2 162 = %$
1.618 Target2 162 = %$
2 Target3 200 = %$
-1 Target3 200 = %$
2.382 Target4 238 = %$
-1.382 Target4 238 = %$
-1.618 Target5 262 = %$
2.618 Target5 262 = %$

The demark indicator is attached. I use it on 30M chart and set the LevDP to 12

Cheers
Attached File(s)
File Type: mq4 Demark_trend_alert_and_mail.mq4   18 KB | 315 downloads
Discipline + Patience - Fear - Greed = Success
  • #63,473
  • Feb 25, 2008 11:39am Feb 25, 2008 11:39am
Quoting arezab
This is not a single indicator. You already have Fibonacci tool on MT4 platform but you should manipulate the values in levels tab and add your desired descriptions in front of them (as I did), nothing special and easy. You need to enter the following values and their respective descriptions for your fibo tool to exactly show up like mine. .

level description

0 BUY@ %$
0.382 38.2
0.5 %$ - 50.0
0.618 61.8
1 Sell@ %$
0.764 76.4
1.382 Target1 138 = %$
-0.382 Target1 138 = %$
-0.618 Target2 162 = %$
1.618 Target2 162 = %$
2 Target3 200 = %$
-1 Target3 200 = %$
2.382 Target4 238 = %$
-1.382 Target4 238 = %$
-1.618 Target5 262 = %$
2.618 Target5 262 = %$

The demark indicator is attached. I use it on 30M chart and set the LevDP to 12

Cheers
thx
  • #63,474
  • Feb 25, 2008 12:17pm Feb 25, 2008 12:17pm
I think it's time to go for a small short down to 211.70 (%38.2) and then may be 211.40 (%50) retracement from 210. to 212.70 move.

If it plays out the way I see it, 211.40 area is a nice place to load up again targeting around 213.80 ...
Discipline + Patience - Fear - Greed = Success
  • #63,475
  • Feb 25, 2008 12:51pm Feb 25, 2008 12:51pm
i am long from 212.5 TP 213.5
  • #63,476
  • Feb 25, 2008 12:53pm Feb 25, 2008 12:53pm
Wow this thread is buzzing (zzzzzzzzzzzzzzzzz!) today. Q my man where are you?
  • #63,477
  • Feb 25, 2008 1:05pm Feb 25, 2008 1:05pm
Quoting Genics
i am long from 212.5 TP 213.5
Good luck with that
  • #63,478
  • Feb 25, 2008 1:07pm Feb 25, 2008 1:07pm
Quoting Genics
i am long from 212.5 TP 213.5
I hope you are practicing on a demo account, good luck anyways
Trade what you see, not what you think.
  • #63,479
  • Feb 25, 2008 1:12pm Feb 25, 2008 1:12pm
Quoting karmostaji
I hope you are practicing on a demo account, good luck anyways

Ha, I beat you to the punch Karmo! Lets hope we don't end up with egg on our face
  • #63,480
  • Feb 25, 2008 1:14pm Feb 25, 2008 1:14pm
I am long 50 thousand million lots long from 212.00 Tp 251. lol
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