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

  • #65,261
  • Mar 4, 2008 9:21pm Mar 4, 2008 9:21pm
Quoting forexlion
this chart is wrong, we never take sunday data as part of last week, but as part of current week, so the fib levels will be different, any uptrend signal has to be above last week's close or friday close.
Thanks for your observation. What do I do to fix it?
Its just the standard MT4 platform .
I haven't tweaked anything....Just assumed we were all fairly much the same.

regards,
where thought goes energy flows
  • #65,262
  • Mar 4, 2008 9:24pm Mar 4, 2008 9:24pm
Quoting mktjong
I don't agree, I am seeing it is coming down soon
But who knows for sure ..hehe
Hi MKT..Hope you are well.

we will see more downward action within this month.. But pair is due for a pull back. My initial target is mid 206..That will also cover the weekend gap.

212.30 is the area to watch. I personally don't think the pair will go beyond that. If the pair gets rejected at 212.30 there will be an accelerated fall towards 200 by mid April.

If 212.30 is broken(unlikely).. this can go higher towards 223.
  • #65,263
  • Mar 4, 2008 9:31pm Mar 4, 2008 9:31pm
Quoting Damo12
Thanks for your observation. What do I do to fix it?
Its just the standard MT4 platform .
I haven't tweaked anything....Just assumed we were all fairly much the same.

regards,
I think he's suggesting that you have the correct top (100%) for your fib, but that your bottom (0%) should end where your 23.6 fib is, because that was the low for last week.
  • #65,264
  • Mar 4, 2008 9:52pm Mar 4, 2008 9:52pm
Quoting auslanco
Hi MKT..Hope you are well.

we will see more downward action within this month.. But pair is due for a pull back. My initial target is mid 206..That will also cover the weekend gap.

212.30 is the area to watch. I personally don't think the pair will go beyond that. If the pair gets rejected at 212.30 there will be an accelerated fall towards 200 by mid April.

If 212.30 is broken(unlikely).. this can go higher towards 223.
Hi Aus, really nice to see you again. Hope you are doing well man..it's just like back to last Summer time when we're all trading and joking and analyzing all the time .. miss a bit that moment too sometimes
By the way, in my opinion, it may not reach too high. You mentioned mid 206 is a reasonable retracement but am a bit pessimistic. My analysis is based on weak Canadian dollar which has a bit of inverse relationship and market is still in very bearish sentiment. If it bounces more only presents itself to a better short level
  • #65,265
  • Mar 4, 2008 9:55pm Mar 4, 2008 9:55pm
Quoting Pips_Cruiser
I think he's suggesting that you have the correct top (100%) for your fib, but that your bottom (0%) should end where your 23.6 fib is, because that was the low for last week.
this is what happens when fibs are not correctly drawn

people end up in losses and loose confidence in fibs.
  • #65,266
  • Mar 4, 2008 9:58pm Mar 4, 2008 9:58pm
Quoting auslanco
Hi MKT..Hope you are well.

we will see more downward action within this month.. But pair is due for a pull back. My initial target is mid 206..That will also cover the weekend gap.

212.30 is the area to watch. I personally don't think the pair will go beyond that. If the pair gets rejected at 212.30 there will be an accelerated fall towards 200 by mid April.

If 212.30 is broken(unlikely).. this can go higher towards 223.
hi aus
how are you???
nice to meet you here again.
  • #65,267
  • Mar 4, 2008 10:00pm Mar 4, 2008 10:00pm
Nice to see that most of the Gang is here, personal THANK YOU to AUS for the information sharing, you have started a big thing here for the new traders - helped me a lot!

Does anybody expects that the pair will go down more before the 206 target or the retrace has happened already? Just need second opinion...
  • #65,268
  • Mar 4, 2008 10:06pm Mar 4, 2008 10:06pm
Quoting forexlion
this is what happens when fibs are not correctly drawn

people end up in losses and loose confidence in fibs.
Drawing weekly and daily fibs are two of my favorites. But what if his intention was to set up retrace fibs from the large fall? I suspect that's what he had in mind. How would you handle that?
  • #65,269
  • Mar 4, 2008 10:39pm Mar 4, 2008 10:39pm
take a look at this thread: http://www.forexfactory.com/showthre...20436&page=137

It has EW analysis by el grande.
it can give you a clue about price movements.
  • #65,270
  • Mar 4, 2008 11:12pm Mar 4, 2008 11:12pm
Price Action on the 4 hour chart: Inside Bar at the 205.00 S/R level. I like a break of the bottom of the Inside Bar because it is with the overall down trend.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #65,271
  • Mar 4, 2008 11:14pm Mar 4, 2008 11:14pm
Quoting jarroo
Price Action on the 4 hour chart: Inside Bar at the 205.00 S/R level. I like a break of the bottom of the Inside Bar because it is with the overall down trend.
Too easy, my friend! Good t
I dream, therefore I become.
  • #65,272
  • Mar 4, 2008 11:17pm Mar 4, 2008 11:17pm
Price Action on the Daily: Inside Bar. Although it looks like a Pin Bar it is in fact an Inside Bar. The nose (or tail) does not protrude as the lowest point of the trend.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #65,273
  • Mar 4, 2008 11:20pm Mar 4, 2008 11:20pm
Somebody PLEASE stop shooting the gbpjpy pair with a tranquilizer dart. Let the beast wake up! LOL!

Took me nearly 3 hours to get 20 pips on a SCALP! LOL!
  • #65,274
  • Mar 4, 2008 11:25pm Mar 4, 2008 11:25pm
Quoting Pips_Cruiser
Drawing weekly and daily fibs are two of my favorites. But what if his intention was to set up retrace fibs from the large fall? I suspect that's what he had in mind. How would you handle that?
still i would do what i said earlier on, sunday is part of this week, not last week.
  • #65,275
  • Mar 4, 2008 11:29pm Mar 4, 2008 11:29pm
A new modified version of my indicator is now available, i will post it on the india thread later.

Gives better entry and exit, although the pivot levels are the same.
  • #65,276
  • Mar 4, 2008 11:33pm Mar 4, 2008 11:33pm
Is anyone having trouble with mt4
  • #65,277
  • Mar 4, 2008 11:36pm Mar 4, 2008 11:36pm
Quoting mktjong
I don't agree, I am seeing it is coming down soon
But who knows for sure ..hehe
yeah the momentum at which it fell from 213 was kinda high , but lets watch , i guess by london today we will have an answer
To Live is the rarest thing in the world , Most people exist , that is all
  • #65,278
  • Mar 4, 2008 11:46pm Mar 4, 2008 11:46pm
TF 4H.,
1-2-3 buy set up if break 205.76( using multiple bar).Fibo for safely entering retracement at 205,83.Lowest at the moment (203.47)also reach their golden value taking in account the time/space relationship.Price action is the best as indicator.QQE cross from below.Mom is flat(yellow)-no volatility in asian session-traders are waiting, for long ,everyone is having very intense feeling for short..short n short.Price is above Gan Hi-Lo.Anyway imho retracement is due.no one know whether this could be true.If yes 50% is acceptable and so 61.8%.If goes beyond 88.6% @ 212.35 current downtrend is off, and as Aus, personally I don't think so at current time.
On the other hand if break 203.47, trend continuation would come true.
Attached Image (click to enlarge)
Click to Enlarge Name: gj 4h.gif Size: 15 KB
  • #65,279
  • Mar 4, 2008 11:50pm Mar 4, 2008 11:50pm
The Bulls and Bears both avoid the lion sitting on the rock, and hide their balls.
  • #65,280
  • Mar 4, 2008 11:52pm Mar 4, 2008 11:52pm
http://quotes.ino.com/chart/intraday...c&w=15&a=3&v=s

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