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

  • #64,741
  • Mar 3, 2008 10:11am Mar 3, 2008 10:11am
Quoting arezab
No still not. why? You wanna go short ?

just seems like its creeping up for no good reason.
  • #64,742
  • Mar 3, 2008 10:18am Mar 3, 2008 10:18am
.
Quoting arezab
kenneith, I'm really grateful for your attention and help. I'm working on it's settings ...
  • #64,743
  • Mar 3, 2008 10:19am Mar 3, 2008 10:19am
Dow Jones is lower than last Closed Date... As I said , market mostly has bearish potential.
Imagination is more important than knowledge. -- Albert Einstein
  • #64,744
  • Mar 3, 2008 10:21am Mar 3, 2008 10:21am
Quoting magnumfreak
Oh sure! I bet you will remove it (the trendline) while I am at the gym won't you?? LOL!!

I think this uptrend doesn't have much more power anyway.
Right now price is consolidating in that area. IMO there is still no sign of downward movement for now. Market is struggling to overcome 205.87 which was daily support1 and now has turned into resistance. If it brakes up, 207.23 and then 208.50 (%50 fib) will most probably be touched.

BTW, It is your decision, if you want I will remove it but I think it won't have any effect now anymore because I'm not alone it that now. Since then till now many others have drawn such a line to help it move up, so you have to ask everybody to remove it ...
Discipline + Patience - Fear - Greed = Success
  • #64,745
  • Mar 3, 2008 10:21am Mar 3, 2008 10:21am
Quoting Pyramid
Dow Jones is lower than last Closed Date... As I said , market mostly has bearish potential.
Thanks Pyramid,

I've had my eye on the DOW all day - and was surprised to see such a jump on G/J with that negative but "better than expected" news this morning.

Lets see it lose all steam and drop like a tree in the forest...
  • #64,746
  • Mar 3, 2008 10:31am Mar 3, 2008 10:31am
By the way , Balancing Shows that If a Downtrend starts , it will be a Huge Downtrend.....
What is Balancing.... with my experience , Yen Always weaken , and then GBP drops..... then at night or next morning , Yen gain and GJ drop for more than 100Pips..... It smell we will go around 203 Area if it drop this time and even more...... a Close under 203 area means 200 and 190 on the way sharply and sooner than expectation ...
Imagination is more important than knowledge. -- Albert Einstein
  • #64,747
  • Mar 3, 2008 10:44am Mar 3, 2008 10:44am
Quoting arezab
Yes karmo, I checked the address. It is filtered and not accessible for me.
huh!!!!!!????
filtring in germany???!!!!!!!http://qsmile.com/qsimages/48.gif
i thought only iran doing sites filtring http://qsmile.com/qsimages/73.gif
http://qsmile.com/qsimages/73.gif
  • #64,748
  • Mar 3, 2008 10:45am Mar 3, 2008 10:45am
Karmo and Mike, Thanks for the advice. I'll be fine. Walked away from my computer and chilled. Had a few cold ones . Feeling much better now. I'll stay away anyway just in case. Come back refreshed next sunday night. Realize I can't get all those pips back in one shot. Will have to get it back slowly, little by little. Trying to feel positive about something. I'm still up 75% over the last 11 months. This is just a minor setback. See you guys next week and goodluck with your trades. Thanks again.
  • #64,749
  • Mar 3, 2008 10:54am Mar 3, 2008 10:54am
It seems people are in a hurry to short thinking they're going to miss the train, if we get a 4H candle above the 4H gann hilo, this pair is going up towards the 50% and then maybe 210.
Trade what you see, not what you think.
  • #64,750
  • Mar 3, 2008 11:07am Mar 3, 2008 11:07am
Quoting karmostaji
It seems people are in a hurry to short thinking they're going to miss the train, if we get a 4H candle above the 4H gann hilo, this pair is going up towards the 50% and then maybe 210.
I'm going to start learning that Gann HiLo. Do you have any good reading you would recommend Karmo, or just for me to do a search and read everything? I plan on reading everything anyways though. I think it would be a good addition to my toolbox, especially after seeing your success with it.
I dream, therefore I become.
  • #64,751
  • Mar 3, 2008 11:09am Mar 3, 2008 11:09am
Price could be headed back to test daily s1 @ 204.95, if it breaks down thru there then 204.50's/70's area will be next support. . .
  • #64,752
  • Mar 3, 2008 11:24am Mar 3, 2008 11:24am
Market back exactly after touching 23.6 GIB
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy.jpg Size: 161 KB
Imagination is more important than knowledge. -- Albert Einstein
  • #64,753
  • Mar 3, 2008 11:31am Mar 3, 2008 11:31am
I am waiting for this 4h bar to close before making a trade. But longs don't look so good quite yet to me. I will wait next half hour to see.
Attached Image (click to enlarge)
Click to Enlarge Name: geppy4h.GIF Size: 18 KB
Patience + Discipline - Greed = Success
  • #64,754
  • Mar 3, 2008 11:38am Mar 3, 2008 11:38am
Quoting karmostaji
It seems people are in a hurry to short thinking they're going to miss the train, if we get a 4H candle above the 4H gann hilo, this pair is going up towards the 50% and then maybe 210.
Karm, which "Gann HiLo" would you recommend to use the - Version 2 or Version 1 which were posted on this thread, or you are using completely different one?

P.S. Thanks for your input in educating the inexperienced traders like me on this thread.
  • #64,755
  • Mar 3, 2008 11:42am Mar 3, 2008 11:42am
Quoting Infinity
I am waiting for this 4h bar to close before making a trade. But longs don't look so good quite yet to me. I will wait next half hour to see.
what time do your candles close, they look nothing like mine
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #64,756
  • Mar 3, 2008 11:45am Mar 3, 2008 11:45am
If price bounces off intraday support @ 204.55 (which is also right where 1hr gann hi/lo is hovering), then GJ would have put in a higher low which is indicative of a continuation up. . .

Now, if it breaks down thru there that would be bearish. However, at present it doesn't look to have enough momentum to get thru lower support @ 203.64 which is a confluence of daily/weekly/monthly support. . . So I think we could see a bounce at the intraday support (204.55) then back up to get thru 206 resistance. . .

That's where I plan to close my shorts and enter long again if it makes it there and hold. . .
Attached Image (click to enlarge)
Click to Enlarge Name: 1hr chart.gif Size: 24 KB
  • #64,757
  • Mar 3, 2008 11:51am Mar 3, 2008 11:51am
Quoting mike w
I'm going to start learning that Gann HiLo. Do you have any good reading you would recommend Karmo, or just for me to do a search and read everything? I plan on reading everything anyways though. I think it would be a good addition to my toolbox, especially after seeing your success with it.
I don't have any specific posts regarding the Gann hilo but there's nothing sophisticated about it, it is the same as a MA and it acts as support/resistance. The higher the TF, the more reliable it is.
Plot it on your chart and see how price reacts to it.

Quoting LeoBond
Karm, which "Gann HiLo" would you recommend to use the - Version 2 or Version 1 which were posted on this thread, or you are using completely different one?

P.S. Thanks for your input in educating the inexperienced traders like me on this thread.
I use the Gann hilo available on VT chart, but it is also available on MT4 and I'm sure it is attached to this thread but I don't know which version most are using. The one I use has a setting as such, Lookback period: 10

Hope that helps.
Trade what you see, not what you think.
  • #64,758
  • Mar 3, 2008 11:53am Mar 3, 2008 11:53am
Anyone familar with price action, is that a pin bar developing on the 4hr chart?
  • #64,759
  • Mar 3, 2008 11:56am Mar 3, 2008 11:56am
Quoting quecee5
Anyone familar with price action, is that a pin bar developing on the 4hr chart?
I see a bearish pin bar on mine.

My 4h bar closes next 4 minutes Moneymagnet.

Bless
Patience + Discipline - Greed = Success
  • #64,760
  • Mar 3, 2008 11:57am Mar 3, 2008 11:57am
Quoting karmostaji
I don't have any specific posts regarding the Gann hilo but there's nothing sophisticated about it, it is the same as a MA and it acts as support/resistance. The higher the TF, the more reliable it is.
Plot it on your chart and see how price reacts to it.


I use the Gann hilo available on VT chart, but it is also available on MT4 and I'm sure it is attached to this thread but I don't know which version most are using. The one I use has a setting as such, Lookback period: 10

Hope that helps.
Simple enough! Thanks Karmo. I appreciate the input.
I dream, therefore I become.
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