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

  • #91,401
  • Jun 9, 2008 8:51pm Jun 9, 2008 8:51pm
nikkei really sinking now (-10.2)
after lunch open will be important
  • #91,402
  • Jun 9, 2008 8:52pm Jun 9, 2008 8:52pm
210.73 is not visited yet today, and it is one of the levels that helps GJ to go up today, if it is not touched, so first level to watch on the otherside is 209.53 followed by 209.13 then 208.74, but I don't see any levels less than 207 at least for this week except if there is an earthquake in the UK
  • #91,403
  • Jun 9, 2008 8:54pm Jun 9, 2008 8:54pm
Quoting Clouds
Im long gbp/cad and short gbp/jpy, but im not so confident in my short, forget UJ, but the pound is really strong against all currencies, so we'll see , but I should be ok, ttyl
I don't think so short is the right time now. H4 look bullish.
  • #91,404
  • Jun 9, 2008 8:59pm Jun 9, 2008 8:59pm
Quoting pino2
210.73 is not visited yet today, and it is one of the levels that helps GJ to go up today, if it is not touched, so first level to watch on the otherside is 209.53 followed by 209.13 then 208.74, but I don't see any levels less than 207 at least for this week except if there is an earthquake in the UK
There's a reason why this thing is called the beast. I remember the last unwinding cycle it tanked this thing down 700 pips in a few hours.

I also remember putting a limit order 2 month ago 350 pips away from the price, thinking that it wouldn't touch for a day or two since it was against the trend. imagine my surprise when it hit my order just a mere 20 mins after i placed it at a time where there was no news.
  • #91,405
  • Jun 9, 2008 9:00pm Jun 9, 2008 9:00pm
I use 3hr not 4 hr TF, point is if this candle can close below previous bernankandle, then 205 is in play, 1% guarantee, free smiley with every put, pay no interest until 2012.
Money & Pain Respect the market, protect your capital, be patient
  • #91,406
  • Jun 9, 2008 9:03pm Jun 9, 2008 9:03pm
i see a bear bat on the 4h chart. just fyi, amigos.
  • #91,407
  • Jun 9, 2008 9:07pm Jun 9, 2008 9:07pm
i think we are targeting 209.70 right now then 208.70
  • #91,408
  • Jun 9, 2008 9:07pm Jun 9, 2008 9:07pm
By the way All,

I have a question: Usually if u hear people say sell or buy one yard, how much is it in US dollar? :-)
Thanks.
  • #91,409
  • Jun 9, 2008 9:09pm Jun 9, 2008 9:09pm
Quoting pino2
210.73 is not visited yet today, and it is one of the levels that helps GJ to go up today, if it is not touched, so first level to watch on the otherside is 209.53 followed by 209.13 then 208.74, but I don't see any levels less than 207 at least for this week except if there is an earthquake in the UK
I thought we got to 210.79?
  • #91,410
  • Jun 9, 2008 9:10pm Jun 9, 2008 9:10pm
2 hr just closed - nice pin ar'd 45 pips
Attached Image
FUBAR...
  • #91,411
  • Jun 9, 2008 9:12pm Jun 9, 2008 9:12pm
Quoting mktjong
By the way All,

I have a question: Usually if u hear people say sell or buy one yard, how much is it in US dollar? :-)
Thanks.
£1,000,000,000.
Money & Pain Respect the market, protect your capital, be patient
  • #91,412
  • Jun 9, 2008 9:12pm Jun 9, 2008 9:12pm
Quoting ak4x
2 hr just closed - nice pin ar'd 45 pips
not sure if you can call that a pin.
  • #91,413
  • Jun 9, 2008 9:14pm Jun 9, 2008 9:14pm
I'll probably short if the gann line flips, the level-stop flips and qqe-40 crosses, not necessarily in that order, eh Lilmoe. Nice system there. Its been quite good.

In the interim here's a weekly gbp/yen chart, note the congestion area around the 38.2 fib.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy.gif Size: 17 KB
  • #91,414
  • Jun 9, 2008 9:14pm Jun 9, 2008 9:14pm
Quoting pkimnyc
not sure if you can call that a pin.
ok, nose, wick, line thingie, I'm easy!
FUBAR...
  • #91,415
  • Jun 9, 2008 9:15pm Jun 9, 2008 9:15pm
Quoting GodfreyH
I'll probably short if the gann line flips, the level-stop flips and qqe-40 crosses, not necessarily in that order, eh Lilmoe. Nice system there. Its been quite good.

In the interim here's a weekly gbp/yen chart, note the congestion area around the 38.2 fib.

yea, made LOTS of serious pips in the past couple of weeks if u followed it
  • #91,416
  • Jun 9, 2008 9:21pm Jun 9, 2008 9:21pm
Quoting GodfreyH
I'll probably short if the gann line flips, the level-stop flips and qqe-40 crosses, not necessarily in that order, eh Lilmoe. Nice system there. Its been quite good.

In the interim here's a weekly gbp/yen chart, note the congestion area around the 38.2 fib.
QQE-40, do you use this as your default setting ? (smoothing)
  • #91,417
  • Jun 9, 2008 9:21pm Jun 9, 2008 9:21pm
Quoting toyboy tramp
£1,000,000,000.
One billion Poundsterling, is it? .. wow .. that's why ..
Ok, one yard, it may move around 60-80 pips .. Now, let's see if I have four yards to sell ...
  • #91,418
  • Edited Jun 10, 2008 9:03am Jun 9, 2008 9:21pm | Edited Jun 10, 2008 9:03am
Quoting GodfreyH
I'll probably short if the gann line flips, the level-stop flips and qqe-40 crosses, not necessarily in that order, eh Lilmoe. Nice system there. Its been quite good.

In the interim here's a weekly gbp/yen chart, note the congestion area around the 38.2 fib.

if u liked that one, here's another one u might like. also on m30.

gann 12 (i use 12 cuz it filters out lots of bad trades)
5sma
50ema
pivots.

no qqe, no stop level.

long positions should be taken into consideration when price is above 50ema. enter long when gann flips and lines up (whichever comes last)

1st tp: 50 pips
2nd tp: 90 pips
3rd tp: open till gann flips again.

reenter when gann realigns.

very easy system, yet VERY powerful, just like the previous classic m30 strategy. only i enhanced it waiting on the freagen fall. looooooool

check out how many pips it would catch from the march 16th fall.
  • #91,419
  • Jun 9, 2008 9:22pm Jun 9, 2008 9:22pm
Quoting RonPaul2008
well ive thought about releasing it but if many people used it i think it would destroy itself.. as it is so successful, people would start shorting earlier than necessary on seeing the GO and it just get too competitive
so sorry about that

but now im going to go to sleep feeling fine about my short positions and knowing that i shall have much pips when i wake up ) nn
Don't get fooled by clowns. People who mixes "100% sure" and investments (like forex) have normally traded/participated lesser than few months with any kinds of financial market. Lack of experience and reality-check makes people hunt for the ultimate "100% sure" trade. -Probabilities- is the keyword.

A simple and quick explanation of using TL's;

To draw TL correctly, we need to understand why we are drawing them. How do you wanna use them?

Mostly, TL are handy when it comes to measuring trends health if you want. Tested at least 2 times (3 or more is "perfect") drawn from the start of a bear/bull run.

Like in this example on daily G/J, we notice that price broke up above daily TL and traded without even retesting it. Does this give us any valuable info? Yes, bears have become weaker, and bulls have become stronger. Higher lows confirms it. What side increased your probability for profits? The weakening side or the side gaining strength ? Of course, it depends on what TF you are trading, but point should be understandable.

What scenario would change the currently outlook (bullish) on daily chart ? Only got 1 TL on daily chart which is in play right now (red line). When price is below that TL, I would know that the probability for more downside is in favor.
Attached Image (click to enlarge)
Click to Enlarge Name: gjdialyac.jpg Size: 103 KB
Measure twice, cut once
  • #91,420
  • Jun 9, 2008 9:24pm Jun 9, 2008 9:24pm
forgot to mention that i use 1% of equity per lot (3 lots total).

70-80 pip stop loss (that should put is somewhere around 2-2.5% risk)

better signals in normal intraday trading would be when price is above DP for longs, and vice versa for shorts.

this system makes me 3000 pips a month minimum.
check it out on demo first.

enjoy

Quoting lilmoe
if u liked that one, here's another one u might like. also on m30.

gann 12 (i use 12 cuz it filters out lots of bad trades)
5sma
50ema
pivots.

no qqe, no stop level.

long positions should be taken into consideration when price is above 50ema. enter long when gann flips and lines up (whichever comes first)

1st tp: 50 pips
2nd tp: 90 pips
3rd tp: open till gann flips again.

reenter when gann realigns.

very easy system, yet VERY powerful, just like the previous classic m30 strategy. only i enhanced it waiting on the freagen fall. looooooool

check out how many pips it would catch from the march 16th fall.
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