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

  • #72,121
  • Apr 7, 2008 11:18am Apr 7, 2008 11:18am
DJIA still holding its gains.
Patience + Humility + Study = Success
  • #72,122
  • Apr 7, 2008 11:20am Apr 7, 2008 11:20am
Quoting quecee5
Must be a lot of people short this pair, that means I should add more longs.
@the anti popular sentiment trader
Patience + Humility + Study = Success
  • #72,123
  • Apr 7, 2008 11:22am Apr 7, 2008 11:22am
Quoting quecee5
Must be a lot of people short this pair, that means I should add more longs.
not only you iam waiting signal for longs...
  • #72,124
  • Apr 7, 2008 11:24am Apr 7, 2008 11:24am
Think I'm goin back to sleep. Nothing happening right now. Don't want to risk waisting my time. I'm sure there will be better opportunities to trade tommorow or later tonight. See ya later fella's and good pippin.
  • #72,125
  • Apr 7, 2008 11:25am Apr 7, 2008 11:25am
Quoting DutchTrader
DJIA still holding its gains.

Eventhough DIJA still in the uptrend, G/J still cannot break to the upside.

I wonder if DIJA goes down, what will the effect of the G/J
  • #72,126
  • Apr 7, 2008 11:27am Apr 7, 2008 11:27am
Quoting DutchTrader
@the anti popular sentiment trader
ROTFLMAO!
  • #72,127
  • Apr 7, 2008 11:28am Apr 7, 2008 11:28am
Quoting sifoorex
Eventhough DIJA still in the uptrend, G/J still cannot break to the upside.

I wonder if DIJA goes down, what will the effect of the G/J
I've got a great entry, so either way I'll take profits
Patience + Humility + Study = Success
  • #72,128
  • Apr 7, 2008 11:29am Apr 7, 2008 11:29am
Quoting DutchTrader
I've got a great entry, so either way I'll take profits
  • #72,129
  • Apr 7, 2008 11:32am Apr 7, 2008 11:32am
Q,

I learned the hard way, its all about entry. Wrong entry can turn a good trade bad. Seriously.
Patience + Humility + Study = Success
  • #72,130
  • Apr 7, 2008 11:42am Apr 7, 2008 11:42am
Q must be adding more longs.
  • #72,131
  • Apr 7, 2008 11:45am Apr 7, 2008 11:45am
One last thing before I signoff. Almost every mt4 chart is based on the concept of a fixed unit of time (5min, 15 min 30 min etc). Volume is therefore important. But supposed we turned that model on its ear, and declared volume and time to be irrelevant. Leaving only price. After all, we make money on changes in price only, volume and time only facillitate the changes in price.

Now if we change the modeling of charts, the x-axis becomes, not fixed intervals of time, but variable. This is such an exciting concept.

Below, I have a chart based solely on price movements NOT TIME. Each bar's length is pre-defined by me. Therefore I have set each bar to be 50 pips in total length. It does not matter how long it takes, the next bar will not form until it has done 50 pips, from top to bottom. Notice the variable time of the x-axis. Some of these bars took 3 hours to form and I don't care how long it took, all I need to know, when the trend starts, I know where its going.

I kept out of this pesky ranging market by using this fixed pip bar chart, and when one of these bars close solidly out of the range, I will be long or short.

This type of charting is tremendously useful, not the least of which is, it avoids a lot of congestion that occurs during slow periods.
Attached Image (click to enlarge)
Click to Enlarge Name: barchart.gif Size: 35 KB
  • #72,132
  • Apr 7, 2008 11:50am Apr 7, 2008 11:50am
Quoting pkimnyc
Q must be adding more longs.
ROTFLMAO!

Yep, that's me. . .
I'm hunting for "short" SL's, I know it's some up there. . .
Oh where, oh where are you hiding, I see you, come out, come out wherever u are- ping, ping, ping, ping- gotcha! =
  • #72,133
  • Apr 7, 2008 11:58am Apr 7, 2008 11:58am
Quoting GodfreyH
One last thing before I signoff. Almost every mt4 chart is based on the concept of a fixed unit of time (5min, 15 min 30 min etc). Volume is therefore important. But supposed we turned that model on its ear, and declared volume and time to be irrelevant. Leaving only price. After all, we make money on changes in price only, volume and time only facillitate the changes in price.

Now if we change the modeling of charts, the x-axis becomes, not fixed intervals of time, but variable. This is such an exciting concept.

Below, I have a chart based solely on price movements NOT TIME. Each bar's length is pre-defined by me. Therefore I have set each bar to be 50 pips in total length. It does not matter how long it takes, the next bar will not form until it has done 50 pips, from top to bottom. Notice the variable time of the x-axis. Some of these bars took 3 hours to form and I don't care how long it took, all I need to know, when the trend starts, I know where its going.

I kept out of this pesky ranging market by using this fixed pip bar chart, and when one of these bars close solidly out of the range, I will be long or short.

This type of charting is tremendously useful, not the least of which is, it avoids a lot of congestion that occurs during slow periods.
That is a really good concept there. Will you be sharing it?http://www.forexfactory.com/images/icons/icon10.gif
All that is left in FF is just plain garbage. "Cloggie"
  • #72,134
  • Apr 7, 2008 12:02pm Apr 7, 2008 12:02pm
Quoting GodfreyH
One last thing before I signoff. Almost every mt4 chart is based on the concept of a fixed unit of time (5min, 15 min 30 min etc). Volume is therefore important. But supposed we turned that model on its ear, and declared volume and time to be irrelevant. Leaving only price. After all, we make money on changes in price only, volume and time only facillitate the changes in price.

Now if we change the modeling of charts, the x-axis becomes, not fixed intervals of time, but variable. This is such an exciting concept.

Below, I have a chart based solely on price movements NOT TIME. Each bar's length is pre-defined by me. Therefore I have set each bar to be 50 pips in total length. It does not matter how long it takes, the next bar will not form until it has done 50 pips, from top to bottom. Notice the variable time of the x-axis. Some of these bars took 3 hours to form and I don't care how long it took, all I need to know, when the trend starts, I know where its going.

I kept out of this pesky ranging market by using this fixed pip bar chart, and when one of these bars close solidly out of the range, I will be long or short.

This type of charting is tremendously useful, not the least of which is, it avoids a lot of congestion that occurs during slow periods.
very nice concept for a breakout strategy. . .
  • #72,135
  • Apr 7, 2008 12:02pm Apr 7, 2008 12:02pm
Godfrey,

That's brilliant
Patience + Humility + Study = Success
  • #72,136
  • Apr 7, 2008 12:13pm Apr 7, 2008 12:13pm
Quoting quecee5
very nice concept for a breakout strategy. . .
If the bears and bulls are fighting, you may end up with one bar on your chart for hours at a time, before one wins over enough pips to move to the next bar. http://www.forexfactory.com/images/icons/icon7.gif
All that is left in FF is just plain garbage. "Cloggie"
  • #72,137
  • Apr 7, 2008 12:15pm Apr 7, 2008 12:15pm
http://www.our-valley.com/2006/photos/32-2.jpg

Come on Bear! eat Bull now.. i think in this attempt if it is cannot break to the downside.. we might see uptrend soon. IMO.
  • #72,138
  • Apr 7, 2008 12:16pm Apr 7, 2008 12:16pm
good idea, except that Point & Figure charts have been already invented... unless you tell me how your idea is different from that?
here's an example from oanda fxlabs.

Quoting GodfreyH
One last thing before I signoff. Almost every mt4 chart is based on the concept of a fixed unit of time (5min, 15 min 30 min etc). Volume is therefore important. But supposed we turned that model on its ear, and declared volume and time to be irrelevant. Leaving only price. After all, we make money on changes in price only, volume and time only facillitate the changes in price.

Now if we change the modeling of charts, the x-axis becomes, not fixed intervals of time, but variable. This is such an exciting concept.

Below, I have a chart based solely on price movements NOT TIME. Each bar's length is pre-defined by me. Therefore I have set each bar to be 50 pips in total length. It does not matter how long it takes, the next bar will not form until it has done 50 pips, from top to bottom. Notice the variable time of the x-axis. Some of these bars took 3 hours to form and I don't care how long it took, all I need to know, when the trend starts, I know where its going.

I kept out of this pesky ranging market by using this fixed pip bar chart, and when one of these bars close solidly out of the range, I will be long or short.

This type of charting is tremendously useful, not the least of which is, it avoids a lot of congestion that occurs during slow periods.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY40.png Size: 30 KB
Nihil Sine Deo.
  • #72,139
  • Apr 7, 2008 12:18pm Apr 7, 2008 12:18pm
Quoting lilmoe
i've been trading this pair for quite some time now, i know this question isn't for me, but i truely believe it's a mistake to couple this pair with another, even it was UJ, i've seen this pair go into opposite direction not only with UJ but also with GU.
I don't know what you are exactly trying to say here but if both USD/JPY and GBP/USD moves in the same direction, GBP/JPY will strongly move in that direction. If USD/JPY and GBP/USD moves in different directions GBP/JPY follows one of them, unless they move exactly the same % in each direction then GBP/JPY will stand still.
  • #72,140
  • Apr 7, 2008 12:34pm Apr 7, 2008 12:34pm
Quoting DutchTrader
Godfrey,

That's brilliant
Well, the concept has been around since 2003 (although its deployment has been extremely limited), so I can't claim to have dibs on it, I'm just passing on what I know to you.

Each week I set aside time for what I consider, research and development (R&D)

Here's a link for more info:

http://www.sfomag.com/homefeaturedet...ry&YearID=2003

http://www.enthios.com/OtherStuff/momentum_bars.htm

Quoting Scrat
good idea, except that Point & Figure charts have been already invented... unless you tell me how your idea is different from that?
here's an example from oanda fxlabs.
Point and figure charts rely heavily on patterns , you can't apply all our lovely MT4 indicators to the chart. Analysis is therefore very limited on point and figure charts.

Moving average and other indicators respond better in fixed pip bar charts, while simultaneously ignoring much of the noise.

P.S. I could be missing something ,but those bar price movements on the chart you showed seem variable, not fixed.
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