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

  • #72,421
  • Apr 8, 2008 12:09pm Apr 8, 2008 12:09pm
Quoting Infinity
For me it depends on type of trade I am entering. If it is a short term trade targeting say 50 pips I put stop at BE after 20 pips. If I am targeting over 100 pips, I normally move stop to +1 or sometimes +5 after 50 pips are green.

Bless
thanks guys, i went short earilier around 15min 50 ema. it usually caps retracement. i plan to move SL to BE just b4 FOMC.

Are u guys in any trades
  • #72,422
  • Apr 8, 2008 12:09pm Apr 8, 2008 12:09pm
Quoting Infinity
When are you expecting this retrace and what is this based on?
Right month , but maybe year 2009
  • #72,423
  • Apr 8, 2008 12:10pm Apr 8, 2008 12:10pm
Quoting arezab
Great idea GodfreyH, I noticed this type of charting in Accucharts but never paid any attention to it. Now I see this is very effective. Thanks for sharing.

... by the way, do you know any indicator which converts our regular charts in MT4 to this type of chart? Will be appreciated if you find something and share it here. I will try to search in the net to see if I can find something that sort ...

Cheers
Constant range bars, are an excellent breakout tool. Following is a chart of the breakout earlier using 50 pip (high to low) candlesticks.

I have searched extensively, but I am not aware of anywhere on the net that this is offered for mt4 (without cost). I do know it's based loosely on the period optimizer.

Unfortunately the script I use is proprietory so I can't share it, however, the following links are Forexfactory short (2 pages) threads on the issue. The second one being the only place (that I know of) currently available for obtaining the script required.

http://www.forexfactory.com/showthre...87#post1903887

http://www.forexfactory.com/showthre...57#post1915357
Attached Image (click to enlarge)
Click to Enlarge Name: barchart.gif Size: 36 KB
  • #72,424
  • Apr 8, 2008 12:11pm Apr 8, 2008 12:11pm
Looks like the bears are firmly in charge, we didn't even get to 202.20
Patience + Humility + Study = Success
  • #72,425
  • Apr 8, 2008 12:11pm Apr 8, 2008 12:11pm
Quoting Infinity
When are you expecting this retrace and what is this based on?
I think that's a typo
Patience + Humility + Study = Success
  • #72,426
  • Apr 8, 2008 12:13pm Apr 8, 2008 12:13pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting DutchTrader
Looks like the bears are firmly in charge, we didn't even get to 202.20
I've set a tp at 199.50, but i think looking at this i'll remove it and let it run.
  • #72,427
  • Apr 8, 2008 12:13pm Apr 8, 2008 12:13pm
Quoting ephisi
thanks guys, i went short earilier around 15min 50 ema. it usually caps retracement. i plan to move SL to BE just b4 FOMC.

Are u guys in any trades
Yes, I'm still long for now. . .
  • #72,428
  • Apr 8, 2008 12:16pm Apr 8, 2008 12:16pm
I am 10pips LONG, 10 pips Short... hmmm I love Ranging market
  • #72,429
  • Apr 8, 2008 12:19pm Apr 8, 2008 12:19pm
Quoting ephisi
thanks guys, i went short earilier around 15min 50 ema. it usually caps retracement. i plan to move SL to BE just b4 FOMC.

Are u guys in any trades
I am currently on the sides.
Patience + Discipline - Greed = Success
  • #72,430
  • Apr 8, 2008 12:20pm Apr 8, 2008 12:20pm
Quoting Piters
I am 10pips LONG, 10 pips Short... hmmm I love Ranging market

LOL. where do u intend to take profit
  • #72,431
  • Apr 8, 2008 12:20pm Apr 8, 2008 12:20pm
Both cable and g/j have formed flag pattern on 1h chart. Finding achievable targets can be hard. 1 way to do this is measuring flagpole length (pips) and divide the amount by 2 and add it from breakout level.

Some traders would measure down-side target from swing-high inside flag but I find this method ok for my purpose.

Charts;
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gj1hflag.jpg Size: 83 KB
Click to Enlarge Name: flag30mcable.gif Size: 16 KB
Measure twice, cut once
  • #72,432
  • Apr 8, 2008 12:25pm Apr 8, 2008 12:25pm
I'm out now!
SL hit for +1 on my last position held. . .
Looking to re-enter when I see an opportunity long or short!
  • #72,433
  • Edited 1:04pm Apr 8, 2008 12:26pm | Edited 1:04pm
Quoting ephisi
LOL. where do u intend to take profit
sometimes 2pips, sometimes 50pips.. look at my journal..

In ranging MRKT (I am using stoch, Rsi, Mom on 1min and 100T) My CHART: on 2min







Nice and easy
  • #72,434
  • Apr 8, 2008 12:34pm Apr 8, 2008 12:34pm
Quoting Piters
sometimes 2pips, sometimes 50pips.. look at my journal..

In ranging MRKT (I am using stoch, Rsi, Mom on 1min and 100T)

Nice and easy


cool, it was u who posted dat account statement right? just ur style of trading .
  • #72,435
  • Apr 8, 2008 12:34pm Apr 8, 2008 12:34pm
Quoting pip_designer
Right month , but maybe year 2009
  • #72,436
  • Apr 8, 2008 12:35pm Apr 8, 2008 12:35pm
Cable in critical area now. Descending triangle on daily;
Attached Image (click to enlarge)
Click to Enlarge Name: gudialy.gif Size: 16 KB
Measure twice, cut once
  • #72,437
  • Apr 8, 2008 12:36pm Apr 8, 2008 12:36pm
Quoting aediaz1
Both cable and g/j have formed flag pattern on 1h chart. Finding achievable targets can be hard. 1 way to do this is measuring flagpole length (pips) and divide the amount by 2 and add it from breakout level.

Some traders would measure down-side target from swing-high inside flag but I find this method ok for my purpose.

Charts;


If you notice in chart I posted previously, I have diffent colors, which sometimes overlap. These colors indicate the different sessions, Tokyo, London, New York. I find it really helps in identifying session highs and lows and gives you additional perspective in determining likely price movement.
Attached File(s)
File Type: mq4 i-Sessions est.mq4   6 KB | 326 downloads
  • #72,438
  • Apr 8, 2008 12:40pm Apr 8, 2008 12:40pm
i think the G will go up after FOMC meeting let us see, but don't take bears
and JPY will go to 103 today or next
  • #72,439
  • Apr 8, 2008 12:45pm Apr 8, 2008 12:45pm
Quoting GodfreyH
Constant range bars, are an excellent breakout tool. Following is a chart of the breakout earlier using 50 pip (high to low) candlesticks.

I have searched extensively, but I am not aware of anywhere on the net that this is offered for mt4 (without cost). I do know it's based loosely on the period optimizer.

Unfortunately the script I use is proprietory so I can't share it, however, the following links are Forexfactory short (2 pages) threads on the issue. The second one being the only place (that I know of) currently available for obtaining the script required.

http://www.forexfactory.com/showthre...87#post1903887

http://www.forexfactory.com/showthre...57#post1915357

Thisa is an awesome Idea and not very different from tradng a naked chart with grid lines at 50 pips intervals.

GJ moves in 100 pip ' blocks' I have often mentioned this to other trader. Each trading instrument has its own way of moving , you just have to study the charts to figure it out

In other words GJ breaks 204 , chances of it going to 205 are very high ,

breaks down 202 , chances of touching 201 are very high etc etc

Ignore the red lines over the indicators ,top chart is 60 min with 100 pip blocks , bottom is 15 min with 50 pip blocks

Attached Image (click to enlarge)
Click to Enlarge Name: gj11.jpg Size: 144 KB
Attached Image (click to enlarge)
Click to Enlarge Name: gj10.jpg Size: 139 KB
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  • #72,440
  • Edited 2:15pm Apr 8, 2008 12:45pm | Edited 2:15pm
[q
Grafitti or graphic arts or painting????????
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