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

  • #81,561
  • May 16, 2008 5:20am May 16, 2008 5:20am
Quoting ephisi
BULL + BEAR = GRANMAMA PING PONG 2
  • #81,562
  • May 16, 2008 5:24am May 16, 2008 5:24am
Seems like I'm late for the party again, LOL! Here's some I candy for the meantime...
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy 5-16-2008 rainbow.gif Size: 51 KB
  • #81,563
  • May 16, 2008 5:24am May 16, 2008 5:24am
Retest Upper TL and 4H Gann. (204.30/204.40)

http://www.doske.com/Charts/snapshot-110.png
  • #81,564
  • May 16, 2008 5:25am May 16, 2008 5:25am
yes. because the ratio between m40 and h4 is 1:6... did you read elder's "trading for a living"? the reason is because i believe i can see better "inside" an h4 trend by using a lower timeframe that is 1:6 from the "main" one; h1 charts are too slow, m30 are too fast.
so i go from daily to h4 (1:6), then h4 to m40 (1:6), then m40 to m7 (~1:6).

Quoting GodfreyH
Scrat, is there a particular reason you prefer the m40 to m30 chart?
Nihil Sine Deo.
  • #81,565
  • May 16, 2008 5:30am May 16, 2008 5:30am
Quoting lilmoe
don't worry bro, my risk is very minimum even if i get stopped out, i would leave with 90 pips on the table
average of my 2 positions is 203.57. SL 100pios at 204.57

i aloso leave with 70pips
  • #81,566
  • May 16, 2008 5:33am May 16, 2008 5:33am
Quoting Scrat
yes. because the ratio between m40 and h4 is 1:6... did you read elder's "trading for a living"? the reason is because i believe i can see better "inside" an h4 trend by using a lower timeframe that is 1:6 from the "main" one; h1 charts are too slow, m30 are too fast.
so i go from daily to h4 (1:6), then h4 to m40 (1:6), then m40 to m7 (~1:6).

hey there big guy, could u confirm me if u see a bearish hidden divergence on ur m30 or h1 charts?

by the way? how the heck can u get these TFs on MT4? i've searched the entire POS
  • #81,567
  • May 16, 2008 5:35am May 16, 2008 5:35am
Quoting Scrat
yes. because the ratio between m40 and h4 is 1:6... did you read elder's "trading for a living"? the reason is because i believe i can see better "inside" an h4 trend by using a lower timeframe that is 1:6 from the "main" one; h1 charts are too slow, m30 are too fast.
so i go from daily to h4 (1:6), then h4 to m40 (1:6), then m40 to m7 (~1:6).

Didn't read Elder's, but I did remember reading somewhere on Forexfactory or was it Google? that, with respect to time frames, the ratio 1:6 is very important. Ah yes, it's vaguely coming back now, some theory by Jared Martinez.

I'll check this out. Thanks.
  • #81,568
  • May 16, 2008 5:37am May 16, 2008 5:37am
Quoting ephisi
i expect a fall or a retracemnet(dont know) to 203.67. i cant say realy if dis is bull or bear,
but what i can say is

BULL + BEAR = GRANMAMA PING PONG 2



if my calculations are right we should be boarding soon.



Attached Image
  • #81,569
  • May 16, 2008 5:45am May 16, 2008 5:45am
Quoting lilmoe


if my calculations are right we should be boarding soon.



Attachment
we are at the exact same levels we were yesterday, when d crazy consolidaton started only didderecnce is that we hav mad a lower higher,

if we stay like dis for d next 4hrs, next 3hrs, next 4hr candle is gonna be bearish.

i wish theree was no news tooday
  • #81,570
  • May 16, 2008 5:46am May 16, 2008 5:46am
Quoting lilmoe
hey there big guy, could u confirm me if u see a bearish hidden divergence on ur m30 or h1 charts?

by the way? how the heck can u get these TFs on MT4? i've searched the entire POS
Here ya go, (on behalf of Scrat).

Remember to have[Allow DLL Imports] checked.

USAGE:

Just place the indicator on a chart, preferably a blank chart, and select the period time multiplier you want. The multiplier will of course be dependent on the time frame of the chart that it is placed on. So a period multiplier of 2 on an hour chart, will yield a 2hr chart. Likewise a period multiplier of 2, placed on a minute chart will give a 2min chart.

Next, click on {file}, then {open offline chart}, and look for the period that you selected, so a 2hr chart for gbp/yen, would be gbp/yen H2.

Don't worry about the "offline" status, files are updated in real time. The default on this uploaded indicator is 500milliseconds, but you can change that to zero.
Attached File(s)
File Type: mq4 Period_Converter_Opt.mq4   15 KB | 315 downloads
  • #81,571
  • May 16, 2008 5:47am May 16, 2008 5:47am
Quoting ephisi
we are at the exact same levels we were yesterday, when d crazy consolidaton started only didderecnce is that we hav mad a lower higher,

if we stay like dis for d next 4hrs, next 3hrs, next 4hr candle is gonna be bearish.

i wish theree was no news tooday

lol, a wish that may never come true. but hey!! wasn't GJ going agains news expectations (at least ours) yesterday? it doesn't matter what the news are, GJ will find it's direction soon, either make us rich, or screw us up and throw a stone at my crapper
  • #81,572
  • May 16, 2008 5:49am May 16, 2008 5:49am
THANK u
Quoting GodfreyH
Here ya go, (on behalf of Scrat).

Remember to have[Allow DLL Imports] checked.

USAGE:

Just place the indicator on a chart, preferably a blank chart, and select the period time multiplier you want. The multiplier will of course be dependent on the time frame of the chart that it is placed on. So a period multiplier of 2 on an hour chart, will yield a 2hr chart. Likewise a period multiplier of 2, placed on a minute chart will give a 2min chart.

Next, click on {file}, then {open offline chart}, and look for the period that you selected, so a 2hr chart for gbp/yen, would be gbp/yen H2.

Don't worry about the "offline" status, files are updated in real time. The default on this uploaded indicator is 500milliseconds, but you can change that to zero.
  • #81,573
  • May 16, 2008 6:06am May 16, 2008 6:06am
hidden bearish, that's right. stoch and macd histo. but right now i wouldn't pay attention to it, g-j is going sideways... trade according to the channel, it's safer.
any problem with the indicator?

Quoting lilmoe
hey there big guy, could u confirm me if u see a bearish hidden divergence on ur m30 or h1 charts?

by the way? how the heck can u get these TFs on MT4? i've searched the entire POS
Nihil Sine Deo.
  • #81,574
  • May 16, 2008 6:12am May 16, 2008 6:12am
you WHAT??????
didn't read elder's... this was by far the most important book for me as a trader and i think it is a must for everyone who wants to trade successfully.
btw, thanks for posting that indicator.

Quoting GodfreyH
Didn't read Elder's, but I did remember reading somewhere on Forexfactory or was it Google? that, with respect to time frames, the ratio 1:6 is very important. Ah yes, it's vaguely coming back now, some theory by Jared Martinez.

I'll check this out. Thanks.
Nihil Sine Deo.
  • #81,575
  • May 16, 2008 6:15am May 16, 2008 6:15am
Quoting Scrat
hidden bearish, that's right. stoch and macd histo. but right now i wouldn't pay attention to it, g-j it's going sideways... trade according to the channel, it's safer.
any problem with the indicator?

no problems here, if this stays this way for the next hour we would actually be getting a bullish engulfing pattern on 4h. which is really bad for my shorts. i mean BAD. but i wouldn't reverse my trades just yet, i'm going to leave them to hit SL
  • #81,576
  • May 16, 2008 6:17am May 16, 2008 6:17am
Quoting Scrat
you WHAT??????
didn't read elder's... this was by far the most important book for me as a trader and i think it is a must for everyone who wants to trade successfully.
btw, thanks for posting that indicator.

Ok..ok, I'm sorry (sobbing uncontrollably) I'll make sure I give it a read.
  • #81,577
  • May 16, 2008 6:18am May 16, 2008 6:18am
me neither? :blushing:

is there anyway i can get a PDF of that book?

Quoting Scrat
you WHAT??????
didn't read elder's... this was by far the most important book for me as a trader and i think it is a must for everyone who wants to trade successfully.
btw, thanks for posting that indicator.
  • #81,578
  • May 16, 2008 6:20am May 16, 2008 6:20am
lilmoe, candlestick patterns work when there is a trend, which means at least 3 candles going into the same direction. right now i see sideways on h4, so don't bother reading candlesticks... just use trendlines or horizontal levels and place pending orders beyond these levels. same goes for stops in case of existing trades.

Quoting lilmoe
no problems here, if this stays this way for the next hour we would actually be getting a bullish engulfing pattern on 4h. which is really bad for my shorts. i mean BAD. but i wouldn't reverse my trades just yet, i'm going to leave them to hit SL
Nihil Sine Deo.
  • #81,579
  • May 16, 2008 6:25am May 16, 2008 6:25am
Quoting Scrat
lilmoe, candlestick patterns work when there is a trend, which means at least 3 candles going into the same direction. right now i see sideways on h4, so don't bother reading candlesticks... just use trendlines or horizontal levels and place pending orders beyond these levels. same goes for stops in case of existing trades.

correct, however, there's always a false breach (not betting on that either) so i don't use any stop loss anywhere near those levels, i move them 30 pips more to those. which in this case i moved my sl to 204.60.

thanks for the advice though
  • #81,580
  • May 16, 2008 6:33am May 16, 2008 6:33am
Quoting Scrat
lilmoe, candlestick patterns work when there is a trend, which means at least 3 candles going into the same direction. right now i see sideways on h4, so don't bother reading candlesticks... just use trendlines or horizontal levels and place pending orders beyond these levels. same goes for stops in case of existing trades.

by the way scrat, here's ur channel trading
i've predicted (as GJ tends to do all the time) that it will TRY to retest the lower TL of the ascending channel on 4h. it did and bounced 46 pips from there, i just didn't think it's going to be this soon. let's see what fortune has for us.

here's a chart the same chart posted earlier (scenario1)

Attached Image (click to enlarge)
Click to Enlarge Name: gj_h4_dual_channel_scenario1.gif Size: 24 KB
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