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

  • #68,081
  • Mar 13, 2008 5:13pm Mar 13, 2008 5:13pm
This thread has enabled me to put all the pieces together into a cohesive pattern from 4 years of chart study and developing a trading system.

I am thankful to Auslanco for this thread.


I have incorporated the 5 sma channel and moms into my technique, with inpressive results.


All the traders posting charts of what they see, and why they take their positions opens up a whole new view.
  • #68,082
  • Mar 13, 2008 5:22pm Mar 13, 2008 5:22pm
Quoting quecee5
Looking at intraday pivots (or 4hr pivots) we might see price bounce off 203.74 (s2) 1st, a break of this support will see 203.14 (s3) as was stated.

Notice how intraday 4hr s3 (203.14) overlaps somewhat with with daily s1 (203.00), might be strong support there. . .

Also, notice where price could go if daily s1 is broken. . .

Lets see what it does. . .
Q can you post the indicator for these pivot points if it is possible? Thanks in advance
  • #68,083
  • Mar 13, 2008 5:24pm Mar 13, 2008 5:24pm
Quoting malcolmb14
Thanks. I have learnt alot in this forum also on using daily pivots.

Look at the daily audusd for a sweet cup and handle breakout.

I have 300 pips and counting on this nice safe trade. Look at the daily for the cup and handle.If the breakout of this handle / bull flag on the audusd plays out I am looking at a target of 0.9800.

I bought off the bottom of the hanbdle the other day.

We are in wave 5 up on the daily AUDUSD.

Something like the audusd does not carry as much risk as the gbpbpy (less volatile) so you can safely compound your profits.
Thank you for suggestions. If I were a 1KT trader, I would vouch for you ..
Discipline + Patience - Fear - Greed = Success
  • #68,084
  • Mar 13, 2008 5:24pm Mar 13, 2008 5:24pm
Quoting quecee5
Yep, I call it my little road map. . .
I mostly use intraday but once the daily pivot is broken then I know at some point we will hit s1 or r1 once price settles down. Using them with other tools makes life so much easier. . . Enjoy. . .
Thanks Q .... great info on pivots, much appreciated. Intraday meaning 1H or 4H ?

Thank You
  • #68,085
  • Mar 13, 2008 5:26pm Mar 13, 2008 5:26pm
Quoting LeoBond
Q can you post the indicator for these pivot points if it is possible? Thanks in advance
No indicator just this site which I think is a very good source. . .

http://www.actionforex.com/technical...-200603215764/


Enjoy!
  • #68,086
  • Mar 13, 2008 6:05pm Mar 13, 2008 6:05pm
Quoting quecee5
No indicator just this site which I think is a very good source. . .

http://www.actionforex.com/technical...-200603215764/


Enjoy!

where r u guys
  • #68,087
  • Mar 13, 2008 6:18pm Mar 13, 2008 6:18pm
It looks like a slow evening in Asia, no fireworks.. I guess
Comparison 4Hr charts between Future Dow and Geppy.
Attached Images
  • #68,088
  • Mar 13, 2008 6:37pm Mar 13, 2008 6:37pm
i have been staring at charts for quite some time, i don't understand what's the main direction. the moment it breaks a line or makes a pattern, it just goes back. i guess i'll scalp some using 1 minute chart...
Nihil Sine Deo.
  • #68,089
  • Mar 13, 2008 6:46pm Mar 13, 2008 6:46pm
Quoting malcolmb14
Thanks. I have learnt alot in this forum also on using daily pivots.

Look at the daily audusd for a sweet cup and handle breakout.

I have 300 pips and counting on this nice safe trade. Look at the daily for the cup and handle.If the breakout of this handle / bull flag on the audusd plays out I am looking at a target of 0.9800.

I bought off the bottom of the hanbdle the other day.

We are in wave 5 up on the daily AUDUSD.

Something like the audusd does not carry as much risk as the gbpbpy (less volatile) so you can safely compound your profits.
Malcolmb,
Love your charts! If you get time, would you post a chart of the daily AUD/USD with the bull flag?
TY!
PipChick
  • #68,090
  • Mar 13, 2008 6:49pm Mar 13, 2008 6:49pm
Quoting Scrat
i have been staring at charts for quite some time, i don't understand what's the main direction. the moment it breaks a line or makes a pattern, it just goes back. i guess i'll scalp some using 1 minute chart...
15 more mts, by 8.00 PM EST, hopefully we will get the direction...15mts 100 EMA is giving strong resistance. 15 mts stoch over bought. let us wait..
  • #68,091
  • Mar 13, 2008 6:51pm Mar 13, 2008 6:51pm
Hi everybody, I thought I might as well add my M30 chart here. Your comments are much appreciated.

I think we are dealing here with a textbook bear flag continuation pattern marked by the green lines on the chart. The flagpole is almost 500 pips! so the downtrend should continue for as much as the flagpole.
After the customary retest of the lower trendline is completed, we should be on our way down, first pit-stop after crossing the 23.6% fib @204.14 will be the 11% retracement @203.51 and then the Daily S1 @203.00.
The lower trendline of the bear flag together with the 50EMA and the Gann HiLo are all acting in confluence as a decent resistance atm. Watch also how the price matched the fibo fan levels perfectly!

So what are your thoughts guys?
Attached Image (click to enlarge)
Click to Enlarge Name: gym30_bf.gif Size: 40 KB
  • #68,092
  • Mar 13, 2008 7:07pm Mar 13, 2008 7:07pm
closed all my longs, daily stochatic looks down for me now
  • #68,093
  • Mar 13, 2008 7:07pm Mar 13, 2008 7:07pm
Quoting forexian
Hi everybody, I thought I might as well add my M30 chart here. Your comments are much appreciated.

I think we are dealing here with a textbook bear flag continuation pattern marked by the green lines on the chart. The flagpole is almost 500 pips! so the downtrend should continue for as much as the flagpole.
After the customary retest of the lower trendline is completed, we should be on our way down, first pit-stop after crossing the 23.6% fib @204.14 will be the 11% retracement @203.51 and then the Daily S1 @203.00.
The lower trendline of the bear flag together with the 50EMA and the Gann HiLo are all acting in confluence as a decent resistance atm. Watch also how the price matched the fibo fan levels perfectly!

So what are your thoughts guys?
the new daily pivot updated @ 204.32
  • #68,094
  • Mar 13, 2008 7:12pm Mar 13, 2008 7:12pm
Quoting Jerry
closed all my longs, daily qqe looks down for me now

i think u should wait a lil bit
  • #68,095
  • Mar 13, 2008 7:13pm Mar 13, 2008 7:13pm
Quoting Scrat
i have been staring at charts for quite some time, i don't understand what's the main direction. the moment it breaks a line or makes a pattern, it just goes back. i guess i'll scalp some using 1 minute chart...

I have been scalping all day .. and 80 green pips so far http://www.forexfactory.com/images/icons/icon7.gif
  • #68,096
  • Mar 13, 2008 7:18pm Mar 13, 2008 7:18pm
Quoting warta
i think u should wait a lil bit
i had not good position 205.15, 205,73 i did mistake yesterday + one long from 203.07,
will wait new position
  • #68,097
  • Mar 13, 2008 7:23pm Mar 13, 2008 7:23pm
Quoting warta
the new daily pivot updated @ 204.32
Hmmm, my Daily Pivot is showing @204.55 I guess our feeds are different, mine is from Alpari. I am with MBTrading, but I use Alpari for the charts on MT4. There is always a small difference between the prices from Alpari and my Broker, but they are whithin 1-10 pips range.
  • #68,098
  • Mar 13, 2008 7:26pm Mar 13, 2008 7:26pm
Quoting Jerry
i had not good position 205.15, 205,73 i did mistake yesterday + one long from 203.07,
will wait new position
Obviuosly, Jerry, you didn't take my advice and read this : http://forexfactory.com/showpost.php...postcount=3504

Maybe one day you will.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #68,099
  • Mar 13, 2008 7:27pm Mar 13, 2008 7:27pm
Quoting forexian
Hmmm, my Daily Pivot is showing @204.55 I guess our feeds are different, mine is from Alpari. I am with MBTrading, but I use Alpari for the charts on MT4. There is always a small difference between the prices from Alpari and my Broker, but they are whithin 1-10 pips range.
we can always find + or - 10 to 15 pips diff. but its always in the same area
  • #68,100
  • Mar 13, 2008 7:30pm Mar 13, 2008 7:30pm
Quoting jarroo
Obviuosly, Jerry, you didn't take my advice and read this : http://forexfactory.com/showpost.php...postcount=3504

Maybe one day you will.

Jim
i did
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