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

Quoting pkimnyc

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Hi,

Does anyone in here know if what appears to be H&S pattern shows up in macd indicator then can this be considered as H&S?
Thanks for your help in advance.

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Quoting jarroo

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Questionable Price Action on the 4 hour chart.

This is not an ideal Inside Bar (candle) on the 4 hour. The high should be lower then the previous high's Bar. The low is lower then the previous Bar.

I enter short at 203.76. Not all Price is perfect when its based on demo data feed. So, sometimes I cheat a little.
This is a high risk trade. I want to show how Price Action can be played off of S/R levels.

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Quoting lilmoe

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jarroo,

if u don't mind me asking, do u have any materials to read or any links about the patterns u're using?

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Quoting jarroo

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Yes, I do.

The James16 Chart Thread. http://www.forexfactory.com/showthread.php?t=2331

A great place for all traders to start and finish.

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Quoting GodfreyH

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Most traders strategy involves the crossing of some indicator with another. As Quecee mentioned earlier, the crossing of the Gann with the 5-SMA usually indicates a trade setup occurring. I have cleaned up and modified a block of code and added email alerts to modify the following alert indicator.

I believe this indicator will help a lot of persons, because,......[place drumroll here] , the beauty of this indicator is that it will give an alert for the crossing of any 2 indicators that are on your chart. I have set the default setting to alert for a 5-sma crossing the Gann HiLo Activator.

But you can have an alert when say, a 5-SMA cross a 12-EMA, or the 5-sma cross a hull moving average. It should give an alert as well for indicators not in the main chart window, say, the CCI crossing a moving average., not sure though, haven't tested that.

Instructions for changing the default settings follow in the code window below:

Inserted Code

Parameters:


        Alert_On_Crossing
            Set this option to true if you want the indicator alerts you when any of the loaded
            indicators has crossed.
            
            
        
        EmailON
            Set this option to true if you want the indicator to email you when any of the loaded
            indicators has crossed.
        
        TimeFrame_
            Sorry, not multiple time frame enabled, leave as [0]
        

        Pair_1
            Set here the currency pair string you want to use with the first indicator. Use "NULL"
            if you want to work with the current currency.

                EXAMPLE: "GBPJPYm".


        Indicator_Name_1
            The name of the first indicator you want to load. This name must be the same as the
            file name of the indicator without the .ex4 extension.

                EXAMPLE: "Moving Averages" (the original file name is Moving Averages.ex4)


     

        Line_1
            The line of the indicator you are loading that you want to use. It's zero based
            number which means the first line is 0 and the second line is 1 and the last line
            is 7 (The maximum value of lines allowed in any indicator are 8 and starts from 0,
            then the last line is 7). The most of the indicator uses only one line, so you will
            use 0 here.


        Parameter1_1
            Set the first parameter of the indicator you want to load as the first line. The
            parameters of the indicator are any values declared as external variables. For
            example the Moving Averages indicator accepts three parameters:

                    extern int   MA_Period
                    extern int   MA_Shift
                    extern int   MA_Method

            So, you have to enter the MA_Period here as the first parameter.


        Parameter2_1
            The second parameter of the indicator you want to load as the first line.


        Parameter3_1
            The third parameter of the indicator you want to load as the first line.


        Parameter4_1
            The fourth parameter of the indicator you want to load as the first line.


        Parameter5_1
            The fifth parameter of the indicator you want to load as the first line.


        Pair_2
            Set here the currency pair string you want to use with the second line.


        Indicator_Name_2
            The name of the second line you want to load.


        TimeFrame_2
            The timeframe (in minutes) of the second line you want to load.


        Line_2
            The line of the second indicator you are loading that you want to use.


        Parameter1_2
            Set the first parameter of the indicator you want to load as the second line.


        Parameter2_2
            The second parameter of the indicator you want to load as the second line.


        Parameter3_2
            The third parameter of the indicator you want to load as the second line.


        Parameter4_2
            The fourth parameter of the indicator you want to load as the second line.


        Parameter5_2
            The fifth parameter of the indicator you want to load as the second line.


     
        NOTE 1: 
            How to know how many lines (buffers) in an indicator?

        Just open the source code of the indicator in MetaTrader and check the line:
        #property indicator_buffers 1
        The number 1 means 1 line and 2 means 2 line etc (up to 8 lines).

        NOTE 2:
            How to know how many parameters the indicator accept?

        AS I told you before the parameters are the external functions that the indicator uses. 
        So, Open the indicator source code and check how many external functions it uses.

        NOTE 3:
            The order of the external functions declaration in the source code of the indicator
            are the order of the parameters the indicator accept.
        
            EXAMPLE:
                extern int    MA_Period = 12;  <-- Parameter 1
                extern int    MA_Shift  =  0;  <-- Parameter 2
                extern int    MA_Method =  0;  <-- Parameter 3

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Quoting norazlan

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How many % pf winning trade using this James Chart

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Quoting jarroo

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No, I'm not planning to go short now. I will wait for Price Action to show me to go short. I have taken profits off some of my positions from my entries of 200.29 and 200.75. I've locked in the remaining positions at 201.95.

Actually I may add to my long position if price breaks that Weekly IB at 204.42, hard. As you know, Price does not move in a straight line. So we may have a retrace soon.

Ignored

Quoting GodfreyH

Disliked

Most traders strategy involves the crossing of some indicator with another. As Quecee mentioned earlier, the crossing of the Gann with the 5-SMA usually indicates a trade setup occurring. I have cleaned up and modified a block of code and added email alerts to modify the following alert indicator.

<cut>

[/code]

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Quoting mktjong

Disliked

Cool .. thanks Godsfrey. I probably won't use it but as a programmer and your attention & contribution on this is very appreciative

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Quoting GodfreyH

Disliked

I believe this indicator will help a lot of persons

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Quoting jarroo

Disliked

Questionable Price Action on the 4 hour chart.

This is not an ideal Inside Bar (candle) on the 4 hour. The high should be lower then the previous high's Bar. The low is lower then the previous Bar.

I enter short at 203.76. Not all Price is perfect when its based on demo data feed. So, sometimes I cheat a little.
This is a high risk trade. I want to show how Price Action can be played off of S/R levels.

Ignored

Quoting ak4x

Disliked

Altho there is no major economic news listed on the calendar, don't forget about Citigroup earnings report at 630am EST. Wouldn't want to get blindsided again by a "non-news" event like the GE earnings stinkbomb report last friday morning, same time, same channel.

My understanding was GE was 7 cents per share under expectations, and who knows with Citi...

"...estimates for Citigroup are all over the place: the range goes from a loss of $2.24 a share all the way up to a loss of just ten cents. The revenue figures are even worse. The low estimate is negative (yes, negative) $3.009 billion, while the high is $19.883 billion."

http://www.cnbc.com/id/24189906

So have a care, just remember no matter what the earnings, or the fallout, or how many jobs are lost, "it's all good." They said so.

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Quoting lilmoe

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if the current h4 candle closes as a hammer, we could have a continuation pattern forming. i will long after confirmation

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