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

  • #72,521
  • Apr 9, 2008 3:07am Apr 9, 2008 3:07am
Quoting DutchTrader
Mornin' all
  • #72,522
  • Apr 9, 2008 3:07am Apr 9, 2008 3:07am
Quoting hussin naiji
bi bi 204.05
bi bi 203.00
bi bi 202.00
bi bi 201.00
hi 200
hi 197
hi 194
hi 189.60

you could be right.
  • #72,523
  • Apr 9, 2008 3:14am Apr 9, 2008 3:14am
201.50 looks to be cappin
Patience + Humility + Study = Success
  • #72,524
  • Apr 9, 2008 3:15am Apr 9, 2008 3:15am
errrrr

i have started having serious doubts if gj ever drops below 200.19 this month.
  • #72,525
  • Apr 9, 2008 3:16am Apr 9, 2008 3:16am
Quoting quecee5
GJ the beast!
hi Q
good time and have a nice trade 4 u
  • #72,526
  • Apr 9, 2008 3:16am Apr 9, 2008 3:16am
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.
Wow - some else doing research into fixed price / range - what a good job I did some catching up in this thread!!

I also use the 50 and 100 levels on GJ - and I was given an indicator to display them automatically - here they are the the grey levels.

When in a ranging market I'll often use fixed fibs based on a 50 pip and 100 pip range - as I've posted earlier today. It makes scalping so much easier - here whilst waiting for the UK data due in at 08:30 GMT

http://www.forexfactory.com/showpost...&postcount=735
Trading Levels with WRBs
  • #72,527
  • Apr 9, 2008 3:16am Apr 9, 2008 3:16am
Quoting forexlion
errrrr

i have started having serious doubts if gj ever drops below 200.19 this month.


hi dear forexlion
  • #72,528
  • Apr 9, 2008 3:17am Apr 9, 2008 3:17am
Quoting DutchTrader
Mornin' all
  • #72,529
  • Apr 9, 2008 3:18am Apr 9, 2008 3:18am
Quoting hussin naiji
hi dear forexlion
hi dear brother
  • #72,530
  • Apr 9, 2008 3:24am Apr 9, 2008 3:24am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting mike w
MPP, would you take the daily pin bar into your analysis at all or no? On a technical side of things, I think we need to see lower lows to gear up for another run up in price. Without that, we'll just stall.
Hi Mike
Yes would be the answer for that, it's an exhustion spike which means down or up, but in this case down, i would however not short it, it would simple be an indicator to tell me that the price is going to retrace, normally taking out my TSL position and closeing my trade on the way. at this point i would start looking for 50% fibs on Daily and 4h charts along with TL and strong S&R points.
I agree we need to see some downtime, but lately Eu has gone sideways until it meets it TL and then up again, so this may not come, the news on Thursday could play a big part either way.

MPP
  • #72,531
  • Apr 9, 2008 3:26am Apr 9, 2008 3:26am
Quoting hussin naiji
hi Q
good time and have a nice trade 4 u
  • #72,532
  • Apr 9, 2008 3:33am Apr 9, 2008 3:33am
I thought any bounce would be limited to the 201.20/50 area. Have to wait now.
Patience + Humility + Study = Success
  • #72,533
  • Apr 9, 2008 3:43am Apr 9, 2008 3:43am
brr closed my long from 201.41 at 201.17
http://www1.istockphoto.com/file_thu...r_web_hand.jpg
and it does upupup
  • #72,534
  • Apr 9, 2008 3:46am Apr 9, 2008 3:46am
Quoting Jerry
brr closed my long from 201.41 at 201.17
and it does upupup
Hi all. Don't beat yourself up Jerry. It happens to the best of 'em. Turn it into a positive though - like me - you saw the direction correctly but emotions took over...and that can't happen
  • #72,535
  • Apr 9, 2008 4:07am Apr 9, 2008 4:07am
should hit around 203..as i said earlier.
  • #72,536
  • Apr 9, 2008 4:16am Apr 9, 2008 4:16am
Quoting Squidster
should hit around 203..as i said earlier.
Thats possible. On the hourly it looks as though it couldn't get below 201 convincingly and bounced pretty strong. It looked like 201.50 would hold as it had twice but now that it's busted through there, 202.20/50/70 looks possible at least, after that, who knows.
Patience + Humility + Study = Success
  • #72,537
  • Apr 9, 2008 4:17am Apr 9, 2008 4:17am
Quoting Squidster
should hit around 203..as i said earlier.
We need to escape the clutches of this range first.
Attached Image (click to enlarge)
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  • #72,538
  • Apr 9, 2008 4:33am Apr 9, 2008 4:33am
meaning what??
butterfly or what?
Attached Image (click to enlarge)
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  • #72,539
  • Apr 9, 2008 4:35am Apr 9, 2008 4:35am
Quoting GodfreyH
We need to escape the clutches of this range first.
Yeah, going to wait for price to establish outside of 1h/4h flag or if I see 201 isn't providing us with buys anymore. So 15-20 pips belove 201 could give us some quick down-move, IMO.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gj1hflag.gif Size: 14 KB
Click to Enlarge Name: flag4gjgf.gif Size: 16 KB
Measure twice, cut once
  • #72,540
  • Apr 9, 2008 4:41am Apr 9, 2008 4:41am
combine 3 things

gj 4 hour chart

macd

100 sma

and lo ...... you have the perfect bounce target 200.19
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