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

  • #66,341
  • Mar 6, 2008 6:58pm Mar 6, 2008 6:58pm
Quoting karmostaji
no thanks bro, enjoy your sandwich and drive safely
  • #66,342
  • Mar 6, 2008 7:00pm Mar 6, 2008 7:00pm
.
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Trade what you see, not what you think.
  • #66,343
  • Edited 7:34pm Mar 6, 2008 7:14pm | Edited 7:34pm
Quoting malcolmb14
It made my laugh as my trading partner says i draw APF's like a monkey !!

I much prefer linear regression channels.

OK let me simplify even further .... here is 1 hour with a trend line drawn.
Isn't the last bar just a test of the break down of the bottom of the bear flag ???? Typically the break out will come back into the line upon test.



Attachment
Haha bet you did

Not sure what bear flag is, but the term flag and what to expect/look for in most cases (after flag-pole is stated) is continuation of trend. We have the flag-pole to make this a valid flag, as stated on 1h chart. Also, don't get fooled by the angle of the flag. It doesn't count. You can see the opposite angle in a bearish formation too.

For me, I'm ignoring this double top, I'm not including the second (close-to) test in any drawing as it was affected by news, IMO. I'm sure some will disagree with me there.

Forgot to say; you impress with the easy you trade, using rsi as a main-tool, if I understand it right
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Measure twice, cut once
  • #66,344
  • Mar 6, 2008 7:15pm Mar 6, 2008 7:15pm
Quoting malcolmb14
It made my laugh as my trading partner says i draw APF's like a monkey !!

I much prefer linear regression channels.

OK let me simplify even further .... here is 1 hour with a trend line drawn.
Isn't the last bar just a test of the break down of the bottom of the bear flag ???? Typically the break out will come back into the line upon test.

The only thing that the long side has going for it is that the 50 sma seems to be forming support right now.

A down day in the US markets typically seems to have a little retracement in the Asian markets.

If in fact this is only a test of the bottom of the flag we will see the move down in the UK sesssion. FYI the beginning of the last 1000 pip move happened at 11:30 pm PST (UK session opens at midnight)

I am not a bull or a bear. I have traded this thing long and short today.

I am just expressing what I see on the longer term time frames.

Attachment
I see what you see Malcolmb. Love your precise analysis.
  • #66,345
  • Mar 6, 2008 7:15pm Mar 6, 2008 7:15pm
Quoting karmostaji
.
Hey Karmo, thanks for the chart. It enhanced my decision, hope it is right.
I went long on Usd/Chf with a tight stop and fishing for big pips
  • #66,346
  • Mar 6, 2008 7:17pm Mar 6, 2008 7:17pm
Quoting PipChick
I see what you see Malcolmb. Love your precise analysis.
Hi PipChick, long time no see. Hope you are doing well
  • #66,347
  • Mar 6, 2008 7:21pm Mar 6, 2008 7:21pm
Quoting mktjong
Hi PipChick, long time no see. Hope you are doing well
Hey Mktjong. Happy to see you also!
  • #66,348
  • Mar 6, 2008 7:26pm Mar 6, 2008 7:26pm
Quoting mktjong
Hey Karmo, thanks for the chart. It enhanced my decision, hope it is right.
I went long on Usd/Chf with a tight stop and fishing for big pips
Hi, looks very promising... lots of Fibo-Support... in combination with a Harmonic Pattern on TF H4...

Hmm... will wait how it evolves... I might follow...
Attached Image
  • #66,349
  • Mar 6, 2008 7:36pm Mar 6, 2008 7:36pm
Do you mind posting this Zup indicator. The version I have does not provide the shaded bat. Just lines that are difficult to see.

Regards...

Quoting ernesto
Hi, looks very promising... lots of Fibo-Support... in combination with a Harmonic Pattern on TF H4...

Hmm... will wait how it evolves... I might follow...
Regards, Android.
  • #66,350
  • Mar 6, 2008 7:42pm Mar 6, 2008 7:42pm
Quoting android
Do you mind posting this Zup indicator. The version I have does not provide the shaded bat. Just lines that are difficult to see.

Regards...
That's the link: http://onix-trade.net/forum/index.ph...opic=373&st=75
  • #66,351
  • Mar 6, 2008 7:46pm Mar 6, 2008 7:46pm
Quoting Damo12
Would someone be able to please direct me to a link that explains the correct usage of the 1, 10, and 14 period momentoms.

I have looked at Aus's site under the momentum link, but there are no exact guidelines.

much appreciated.

Damo.
Hi Damo,

Here's an FF thread dedicated to it:

http://www.forexfactory.com/showthread.php?t=54585
  • #66,352
  • Mar 6, 2008 7:53pm Mar 6, 2008 7:53pm
Quoting Pips_Cruiser
Hi Damo,

Here's an FF thread dedicated to it:

http://www.forexfactory.com/showthread.php?t=54585

Thanks P.C. Looks like you have been doing a bit of catching up on this thread.
regards
Damo.
where thought goes energy flows
  • #66,353
  • Mar 6, 2008 8:12pm Mar 6, 2008 8:12pm
Quoting sieb_ila
1. The candles are staying above in the 4H Gann and QQE 5 is touching 50
2. The Daily Momentum 10C, 14 C are pointing up.

For the above reasons Most of the traders might say abt GJ going up atleast for the time being and I'am one among them
That 4H is looking good right now. The 1H might be joining it soon.

By the way, here's a quote regarding daily momentum:

“Guys, You cant just throw in 3 momentum indicators and expect the price to follow that direction. Momentum indicators must be used with the 5sma channel.. for a bearish breakout when a bar forms below the 5sma close and if 1C points down that a guaranteed breakout out of the channel..and for a bullish breakout visa versa. It's most important to see where the bar start within the channel.”

Auslanco

http://www.forexfactory.com/showpost.php?p=1781869&postcount=73
  • #66,354
  • Mar 6, 2008 8:14pm Mar 6, 2008 8:14pm
Quoting karmostaji
How are you markam bro?

we all know the big trend is down no doubt, but IMO this retracement is not over like many are saying it is, that's all.

Enjoy.
We will see. If we get a bad employment report tomorrow, we are likely to see a major market meltdown to close the week out.
  • #66,355
  • Mar 6, 2008 8:18pm Mar 6, 2008 8:18pm
Quoting Pips_Cruiser
That 4H is looking good right now. The 1H might be joining it soon.

By the way, here's a quote regarding daily momentum:

“Guys, You cant just throw in 3 momentum indicators and expect the price to follow that direction. Momentum indicators must be used with the 5sma channel.. for a bearish breakout when a bar forms below the 5sma close and if 1C points down that a guaranteed breakout out of the channel..and for a bullish breakout visa versa. It's most important to see where the bar start within the channel.”

Auslanco

http://www.forexfactory.com/showpost.php?p=1781869&postcount=73
Hi, are there more such rules that we can follow?

I am currently using the momentum indicators just on feeling basis. It seems that I am slowly learning how to handle them by just watching them... but... any "HOWTO" - or at least - "HOW NOT TO" - would be really helpful...

Any idea whether such a doc exists ?
  • #66,356
  • Mar 6, 2008 8:19pm Mar 6, 2008 8:19pm
malcolm, i don't see the bearish divergence on your chart.

Quoting malcolmb14
It made my laugh as my trading partner says i draw APF's like a monkey !!

I much prefer linear regression channels.

OK let me simplify even further .... here is 1 hour with a trend line drawn.
Isn't the last bar just a test of the break down of the bottom of the bear flag ???? Typically the break out will come back into the line upon test.

The only thing that the long side has going for it is that the 50 sma seems to be forming support right now.

A down day in the US markets typically seems to have a little retracement in the Asian markets.

If in fact this is only a test of the bottom of the flag we will see the move down in the UK sesssion. FYI the beginning of the last 1000 pip move happened at 11:30 pm PST (UK session opens at midnight)

I am not a bull or a bear. I have traded this thing long and short today.

I am just expressing what I see on the longer term time frames.

Attachment
Nihil Sine Deo.
  • #66,357
  • Mar 6, 2008 8:22pm Mar 6, 2008 8:22pm
Here is the bear flag I am talking about

Look at the massive bearish divergence on the rapid rsi.

I have plotted a 1-2-3 sell trigger of the top of 213.5 zone to low at 203.5 zone and have assumed that 207.6 was the higher low.

Here are the targets is this thing goes down:
50% = 202.58
61.8 = 210.40
78,6% = 199.72 ( important one .. if this is broken we will go to 127%)
100% = 197.57
127 = 194.86

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  • #66,358
  • Mar 6, 2008 8:23pm Mar 6, 2008 8:23pm
Quoting Damo12
Just need clarification please.
Does a 4Hcandle need to just close above the Hi/Lo (price may have pased through the hi/lo within the 4 hours), or does the entire candle need to have closed above it, with its low not having touched it?

regards,
Damo
For the official Aus "4H/1H Strategy", a 4H candle needs to be "formed" above the Gann line. I take that to mean the entire candle has to be above it. But as Karmo and Q pointed out, it's still an excellent bullish sign to have price closing above it.

http://www.pnwenterprises.com/auslanco/4-1strategy.htm
  • #66,359
  • Mar 6, 2008 8:26pm Mar 6, 2008 8:26pm
Quoting Pips_Cruiser
For the official Aus "4H/1H Strategy", a 4H candle needs to be "formed" above the Gann line. I take that to mean the entire candle has to be above it. But as Karmo and Q pointed out, it's still an excellent bullish sign to have price closing above it.

http://www.pnwenterprises.com/auslanco/4-1strategy.htm
Once again, thanks for the clarification!

Damo.
where thought goes energy flows
  • #66,360
  • Mar 6, 2008 8:27pm Mar 6, 2008 8:27pm
Quoting malcolmb14
I think the gbpusd caused the drop

It broke 2.0000 , went to 2.0060 , then retraced to test the break out of important number 2.0000

Alsi futures are dropping and gold is bouncing all over the place last hour , went down 8 then up 8

Short term scalping targets

206.5
205.9
Those scalp targets from this morning were from the same method as I used for the above analysis

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