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

  • #74,621
  • Apr 22, 2008 12:40pm Apr 22, 2008 12:40pm
My charts say it's stuck between the 20 and the 40 SMA on 15 M
  • #74,622
  • Apr 22, 2008 12:43pm Apr 22, 2008 12:43pm
Quoting chady250
Hey guys is anyone shorting this pair in advance before the potential 9-0 cut. I was debating to get short at 205.5 SL at 206.50

Debate, careful how you debate GJ
  • #74,623
  • Apr 22, 2008 12:44pm Apr 22, 2008 12:44pm
We should see a breakout soon, up? down? we'll find out, patience
Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 24 KB
Trade what you see, not what you think.
  • #74,624
  • Apr 22, 2008 12:45pm Apr 22, 2008 12:45pm
UP! to 500!
  • #74,625
  • Apr 22, 2008 12:46pm Apr 22, 2008 12:46pm
Quoting ephisi
Debate, careful how you debate GJ
Very true, there i have to agree... patience really is a good thing to have right!
"Don't work for your money, but let money work for you."
  • #74,626
  • Apr 22, 2008 12:48pm Apr 22, 2008 12:48pm
GBP/CAD broke out, therefore, I think GBP/JPY is up
  • #74,627
  • Apr 22, 2008 12:50pm Apr 22, 2008 12:50pm
hi Q
  • #74,628
  • Apr 22, 2008 12:51pm Apr 22, 2008 12:51pm
i can't find the post where i had that stragey, but here goes...

here's what u guys need...
1) qqe input 40
2) level stop reverse: period 14, multiplier 2.824 (default of vt trader), and 0 smoothing.
3) gann 10 (i sometimes use 12 input to filter out some bad trades and bad exits)
4) momentum of course (i use momentum-start, cuz it shows me the way the momentum was when the candle first opened, lots of u guys here make mistakes thinking it's pointing down but actually the price went down after the candle opened and dragged the indicator with it)
5) qqe input 1, with levels 30,70 (i use this indicator to show me if the price will retrace to 5sma up if the price is OS on qqe1 and vice versa, but the retracement doesn't happen often well on m30 because there might be strong resistance and support lines, a trader has to be good enough to know if it will or not) i use 50,89,100,200 ema's to figure that out, of course pivot points and trend lines do the trick sometimes.
6) candlestick patterns and price action on higher timeframes to signal a good trade.

instructions:

1) when all three indicators (gann, levelstop, qqe40) point into the same direction "and confirm" i enter with 1st tp of 100pips, 2nd tp "open" (i close the second position when i see a reversal on any of the 3 indicators.
2) if all three point to the same direction "again" after the first trade, i re-enter with 75 pips tp1 and second one open. same as before, i exit at the reversal of any of the 3 indicators.
3) you can enter a trade signal on 2/3 indicators, if and only if one of the following have occured:
a) price is ob/os on qqe1
b) a good candlestick pattern has occured on m30 chart or higher TF
c) if ur "smart" guts say so.

right now, i'm waiting on m30 gann cross to re-enter, i think the setup is clear now.

good luck all, would be happy to answer any more questions...
  • #74,629
  • Apr 22, 2008 12:53pm Apr 22, 2008 12:53pm
well u have one lousy broker, i have 204.93 on my platform, and 204.94 on ibfx....

Quoting shahroodi
in my broker is 7 and price reached to 204.98
  • #74,630
  • Apr 22, 2008 12:54pm Apr 22, 2008 12:54pm
DT, test it out since the last big uptrend
or better, since the start of the month

Quoting lilmoe
i can't find the post where i had that stragey, but here goes...

here's what u guys need...
1) qqe input 40
2) level stop reverse: period 14, multiplier 2.824 (default of vt trader), and 0 smoothing.
3) gann 10 (i sometimes use 12 input to filter out some bad trades and bad exits)
4) momentum of course (i use momentum-start, cuz it shows me the way the momentum was when the candle first opened, lots of u guys here make mistakes thinking it's pointing down but actually the price went down after the candle opened and dragged the indicator with it)
5) qqe input 1, with levels 30,70 (i use this indicator to show me if the price will retrace to 5sma up if the price is OS on qqe1 and vice versa, but the retracement doesn't happen often well on m30 because there might be strong resistance and support lines, a trader has to be good enough to know if it will or not) i use 50,89,100,200 ema's to figure that out, of course pivot points and trend lines do the trick sometimes.
6) candlestick patterns and price action on higher timeframes to signal a good trade.

instructions:

1) when all three indicators (gann, levelstop, qqe40) point into the same direction "and confirm" i enter with 1st tp of 100pips, 2nd tp "open" (i close the second position when i see a reversal on any of the 3 indicators.
2) if all three point to the same direction "again" after the first trade, i re-enter with 75 pips tp1 and second one open. same as before, i exit at the reversal of any of the 3 indicators.
3) you can enter a trade signal on 2/3 indicators, if and only if one of the following have occured:
a) price is ob/os on qqe1
b) a good candlestick pattern has occured on m30 chart or higher TF
c) if ur "smart" guts say so.

right now, i'm waiting on m30 gann cross to re-enter, i think the setup is clear now.

good luck all, would be happy to answer any more questions...
  • #74,631
  • Apr 22, 2008 1:00pm Apr 22, 2008 1:00pm
Quoting malcolmb14
We seem to be still in the bull flag , with a possible retracement of the last move to the 61.8% fib at 202.45

Very clear bear stack of the 50 / 20 / 10 sma. I would not be going long.

I did have a buy trigger on the 30 min earlier , and did place an order to get in at 205 with upside target 206.2 ,and have left that order sitting there for now.


Attachment

The bull flag broke out to the upside as the bullish divergence indicated it would do yesterday.

target was a little short by 10 pips.
Blogging daily now at www.volume.zone
  • #74,632
  • Apr 22, 2008 1:04pm Apr 22, 2008 1:04pm
oops, forget to mention SL
SLs are always 5-10 pips above leve-stop, but if that was more than 110 pips, be careful with that trade

usually i set the SL 100 pips on my entry, and 75 on my re-entry. but that all depends on your MM, also on your own view of the charts.

after trying out lots of strategies and trading systems. i have never seen a strategy that works 70% of the time out of the box, a trader has to be smart and experienced enough to know if that trade call is a bomber.


Quoting lilmoe
i can't find the post where i had that stragey, but here goes...

here's what u guys need...
1) qqe input 40
2) level stop reverse: period 14, multiplier 2.824 (default of vt trader), and 0 smoothing.
3) gann 10 (i sometimes use 12 input to filter out some bad trades and bad exits)
4) momentum of course (i use momentum-start, cuz it shows me the way the momentum was when the candle first opened, lots of u guys here make mistakes thinking it's pointing down but actually the price went down after the candle opened and dragged the indicator with it)
5) qqe input 1, with levels 30,70 (i use this indicator to show me if the price will retrace to 5sma up if the price is OS on qqe1 and vice versa, but the retracement doesn't happen often well on m30 because there might be strong resistance and support lines, a trader has to be good enough to know if it will or not) i use 50,89,100,200 ema's to figure that out, of course pivot points and trend lines do the trick sometimes.
6) candlestick patterns and price action on higher timeframes to signal a good trade.

instructions:

1) when all three indicators (gann, levelstop, qqe40) point into the same direction "and confirm" i enter with 1st tp of 100pips, 2nd tp "open" (i close the second position when i see a reversal on any of the 3 indicators.
2) if all three point to the same direction "again" after the first trade, i re-enter with 75 pips tp1 and second one open. same as before, i exit at the reversal of any of the 3 indicators.
3) you can enter a trade signal on 2/3 indicators, if and only if one of the following have occured:
a) price is ob/os on qqe1
b) a good candlestick pattern has occured on m30 chart or higher TF
c) if ur "smart" guts say so.

right now, i'm waiting on m30 gann cross to re-enter, i think the setup is clear now.

good luck all, would be happy to answer any more questions...
  • #74,633
  • Apr 22, 2008 1:08pm Apr 22, 2008 1:08pm
Quoting lilmoe
well u have one lousy broker, i have 204.93 on my platform, and 204.94 on ibfx....
always exist few pips different between brokers....never mind....btw becoz of this i'll wait for tommorrow candle and momentoms to see how they will be


good luck
  • #74,634
  • Apr 22, 2008 1:15pm Apr 22, 2008 1:15pm
Quoting DutchTrader
Its all about the profit.
It's all about the loses.
Indicators show the past. Price Action "Indicates" the future.
  • #74,635
  • Apr 22, 2008 1:17pm Apr 22, 2008 1:17pm
Quoting jarroo
It's all about the loses.



alright guys,

i'm going home now to check out my shower, and to have something to eat. didn't have any since 12 hours.... yea, i'm hungry

i'll be busy having a "real" life for 2 hours and come back.
don't let the beast do anything naughty until i return!
  • #74,636
  • Apr 22, 2008 2:07pm Apr 22, 2008 2:07pm
Quoting lilmoe



alright guys,

i'm going home now to check out my shower, and to have something to eat. didn't have any since 12 hours.... yea, i'm hungry

i'll be busy having a "real" life for 2 hours and come back.
don't let the beast do anything naughty until i return!
lilmoe, which momentum do you use for your 30 min, 1, 10 or 14?
I think it does not serve any purpose to use all of them, dont you think so?
Regards
  • #74,637
  • Apr 22, 2008 2:22pm Apr 22, 2008 2:22pm
Hey M

Still riding this mornings call. Should have closed on dip. May still head on dn??
  • #74,638
  • Apr 22, 2008 2:35pm Apr 22, 2008 2:35pm
Quoting 13.1 Runner
Hey M

Still riding this mornings call. Should have closed on dip. May still head on dn??
Go to trading room and look at the notes I post once in a while. I noted i was closing trade.

Even though the dj has dropped as i expected it might , the gj has been disconnected from it and is finding 205 a tough area to break.
Blogging daily now at www.volume.zone
  • #74,639
  • Apr 22, 2008 2:55pm Apr 22, 2008 2:55pm
Quoting malcolmb14
Go to trading room and look at the notes I post once in a while. I noted i was closing trade.

Even though the dj has dropped as i expected it might , the gj has been disconnected from it and is finding 205 a tough area to break.
  • #74,640
  • Apr 22, 2008 5:04pm Apr 22, 2008 5:04pm
check out the inverse head and shoulders on the daily chart. i see neckline at 2.0024. could be good for about 400 pips UP! love how that trendline bounce perfectly created the right shoulder..

cheers
Attached Image (click to enlarge)
Click to Enlarge Name: gj422a.gif Size: 29 KB
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