Auslanco - GBP/JPY and GBP/USD (newstrade)
oh boy, this range is really embarrassing. i'm totally disappointed.
i'm using your MACD Adjustable indicator to filter out bad trades, and to signal trending or ranging markets. nice
do u have any other suggestions for other indicators that might do the same job? or even better?
Yup let us hope the market drops to that rate b4 Frankfurt or London Market opens for us to go long @ that particular lvl c u l8r lilmoe bears & d gang!
this is all i use. but it's nothing special, just a regular macd with an adjustable size for histogram so i can see it better.
i think macd is one of the best indicators out there because it shows you what happens on the current timeframe (histogram) and also indicates the direction of the main trend.
i'm not using anything else. i think you have my template... macd, cci and stochastic_mtf (for higher timeframe).
this is all i use. but it's nothing special, just a regular macd with an adjustable size for histogram so i can see it better.
i think macd is one of the best indicators out there because it shows you what happens on the current timeframe (histogram) and also indicates the direction of the main trend.
i'm not using anything else. i think you have my template... macd, cci and stochastic_mtf (for higher timeframe).
by the way, your method of MACD OB/OS levels when price is approaching a fairly strong level of S/R is working like a charm. scalping those levels is just wonderful
i don't necessarily use MACD, i also use qqe1 with 30-70 OB/OS levels to figure out if the price is ready to breach that S/R level. the indicator doesn't have to show it's OB, morelike HD either bearish or bullish. for the past week, i don't use anything else for scalping
weakest currency is the yen, second weakest is the dollar, and..?
With all these gloom news, I can hardly see Bulls will triumph ..
Link:
1. http://www.bloomberg.com/apps/news?p...ge4&refer=home
2. http://www.bloomberg.com/apps/news?p..._wY&refer=home
. by the way, your method of MACD OB/OS levels when price is approaching a fairly strong level of S/R is working like a charm. scalping those levels is just wonderful
i don't necessarily use MACD, i also use qqe1 with 30-70 OB/OS levels to figure out if the price is ready to breach that S/R level. the indicator doesn't have to show it's OB, morelike HD either bearish or bullish. for the past week, i don't use anything else for scalping
Congrats to all shorts if u TP @ 210.40 area this a.m. on GJ!
Looks like the 210.30 area held as I thought it would for now. . .
Goooooooooooooood Mooooooooooooooooorning!
I'm still working my UJ short position - added more shorts on the run-up. . . SL now @ 109.10 area. . . Avg. short position 108.40 area. . . 1st target 107.20 area then 106.50/55. . .
i don't know about qqe, i don't use it although from what i know it is similar to macd lines.
the only "complain" about macd is that it doesn't show me OB/OS levels (or i don't know how to read them), that's why i use cci and sometimes stochastic on current timeframe.
yes, this is a very good technique for scalping. i'm using it to scalp a couple of hundred pips out of 40min/h4 charts
speaking of scalping: i started using 10sec/1min/5min charts, but not for trading. mainly just to watch what happens at a very fast level. i know most people believe that smaller timeframes are full of noise and you can't get signals. yes, this is true for live trading, BUT what better way to learn how to analyze the setups, place demo trades (especially SL!!!) and watch real time how they turn out? it is fast so you don't have to wait a lot for the end of the "lesson"; you get a lot of results, some good, some bad, but you have a lot of examples and you can learn pretty fast what happens to a trade without SL.
just a thought, mostly for newbies who need a model to study... you don't look for perfect setups because there aren't many. learn how to deal with most of the setups and with your mistakes.
true..but looking at price action so far..seems to me like all these news are rather already expected by market players..so maybe its already priced in into the prices..so we might see a surprise 'mind boggling' movement upwards instead of downwards...whatever it is..just ride with it..
..
If u notice, buying power is getting weaker and weaker since this week .. hehe..
Well, we surely don't see it down in a straight line. There are people still thinking it's good time to buy. This has led me to think of Enron case. When the price hit high and came down a quarter of its value, people were buying thinking it was a good buy, then the price came down another quarter of its value, same thing happened again, people were buying crazily, then again and again .. see what happened after all ..
Of course currency is different, it never goes to zero unless that country is vanished. The risk aversion threat is still there and real .. it may just need a while to play it out .. until then let's rock this pair to the bottom ..
If u notice, buying power is getting weaker and weaker since this week .. hehe..
