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

  • #112,821
  • Sep 12, 2008 11:14am Sep 12, 2008 11:14am
left a few short open without stop loss....... came back to see - 500 pips on GY and - 400 pips X 2 on GU....... lol what a day.

NEVER leave a open position without stop loss........
loss 100k in Forex, up 1k, still have 99% to go!!
  • #112,822
  • Sep 12, 2008 11:15am Sep 12, 2008 11:15am
Quoting karmostaji
Did anyone take this trade? I did and I'm already up 200+ pips
I didnt as i was wondering why my setting seems to be different from others.
I set my gann at 5 and my qqe as below, anything wrong with the setting? Please kindly point it out thanks...
Attached Image
Lost...
  • #112,823
  • Sep 12, 2008 11:16am Sep 12, 2008 11:16am
Quoting worlhin
I didnt as i was wondering why my setting seems to be different from others.
I set my gann at 5 and my qqe as below, anything wrong with the setting? Please kindly point it out thanks...
RSI smoothing period should be 5
Trade what you see, not what you think.
  • #112,824
  • Sep 12, 2008 11:20am Sep 12, 2008 11:20am
Quoting karmostaji
RSI smoothing period should be 5
How abt gann hilo? is the lookback period should be set to 5?
Anyway, thanks for pointing the RSI smoothing period...
Lost...
  • #112,825
  • Sep 12, 2008 11:20am Sep 12, 2008 11:20am
Quoting evilglory
left a few short open without stop loss....... came back to see - 500 pips on GY and - 400 pips X 2 on GU....... lol what a day.

NEVER leave a open position without stop loss........
Why o why, after all that has been said by several traders on this thread for months now, you still traded without a stop loss? A stop loss is a traders life jacket.
  • #112,826
  • Sep 12, 2008 11:24am Sep 12, 2008 11:24am
Quoting worlhin
How abt gann hilo? is the lookback period should be set to 5?
Anyway, thanks for pointing the RSI smoothing period...
Btw, I saw candle above daily gann and daily qqe is crossed up.
Do you see it at your chart?
if not, then maybe my setting is still wrong...
If you see it too, does that meant we are now at reversal?
Lost...
  • #112,827
  • Sep 12, 2008 11:26am Sep 12, 2008 11:26am
Quoting malcolmb14
here is a chart for you ,... bullish divergence double bottom 4 hour ... that was 600 pips ago .. something to look out for in the future


http://www.forexfactory.com/attachme...9&d=1221164851
Thanks! You know, I have tried to use divergences but have never quite gotten the hang of it. I think you showed me the CCI thing and I am using that on the 15 and 5 min and starting to notice some divergences, although the lines can change constantly. RSI has never been one of my favorite indicators, I just don't really see anything on it .. but I will add it back on my charts and keep trying as I know many use it to confirm trade decisions.

Where did you get the RSI color indicator?
  • #112,828
  • Sep 12, 2008 11:29am Sep 12, 2008 11:29am
Quoting uncletrumpet
Hope you made up to 200 pips?????
500+ pips
Trade what you see, not what you think.
  • #112,829
  • Sep 12, 2008 11:29am Sep 12, 2008 11:29am
Quoting worlhin
How abt gann hilo? is the lookback period should be set to 5?
Anyway, thanks for pointing the RSI smoothing period...
Lookback period = 10
Trade what you see, not what you think.
  • #112,830
  • Sep 12, 2008 11:31am Sep 12, 2008 11:31am
I am expecting it to retrace to 1hr 5ema low .. before any resume uptrend ..
RSI is hourly overbought ..it would likely work it out first.
Attached Image (click to enlarge)
Click to Enlarge Name: gy_091208.gif Size: 17 KB
  • #112,831
  • Sep 12, 2008 11:34am Sep 12, 2008 11:34am
Quoting mktjong
I am expecting it to retrace to 1hr 5ema low .. before any resume uptrend ..
RSI is hourly overbought ..it would likely work it out first.
we might hit 193.50 before retracing. plus, there's a good chance we might gap upwards next week again, depends on last hour behavior of price
  • #112,832
  • Sep 12, 2008 11:35am Sep 12, 2008 11:35am
Quoting malcolmb14
no offense intended ... but if charts rule how comes you still so bearish last night . I was calling this last night along time before it happened. Look at Karmos gbpjpy thraed .. classic bullish divergence on 4 hour

seems like you follow Karmo .... he is a bear overall and has been for a while.... but rallies in this market are fast and large
I was bearish as long as price was trading below daily gann hilo and the 4h gann hilo

Right now price is above 4h gann and below daily 4h gann, if we get a daily close above daily gann then i'll be 100% bullish targeting 50% fibo on the daily chart

and if we get a 4h close below 4h gann, i'll remain a bear targetting a new low.

Simple.
Trade what you see, not what you think.
  • #112,833
  • Sep 12, 2008 11:36am Sep 12, 2008 11:36am
Quoting lilmoe
we might hit 193.50 before retracing. plus, there's a good chance we might gap upwards next week again, depends on last hour behavior of price
Yes, we might but less likely after seeing London taking profit at close ..
  • #112,834
  • Sep 12, 2008 11:37am Sep 12, 2008 11:37am
4h candle has closed above 50ema, that's a bullish sign
Trade what you see, not what you think.
  • #112,835
  • Sep 12, 2008 11:42am Sep 12, 2008 11:42am
Quoting karmostaji
Lookback period = 10
Sigh... I think i must go and check my eyes...
Dun understand how i mess up the settings...
Well, at least now i have the correct settings... thanks...
Lost...
  • #112,836
  • Sep 12, 2008 11:42am Sep 12, 2008 11:42am
Quoting karmostaji
4h candle has closed above 50ema, that's a bullish sign
And just above a trend line I have drawn from Aug 5 high and just above weekly pivot, although that will change on Sunday.

From what I've seen of her behaviour, she hates to be pushed down and will come roaring out of downtrends like a rocket ... hopefully next week will provide more insight. I 'think' at some point she needs to make a token visit below 180, but that and $7.50 will get you a latte at Starbucks
  • #112,837
  • Sep 12, 2008 11:43am Sep 12, 2008 11:43am
Maybe this???
Attached Image (click to enlarge)
Click to Enlarge Name: gbp-jpy-bull.jpg Size: 58 KB
  • #112,838
  • Sep 12, 2008 11:44am Sep 12, 2008 11:44am
Quoting worlhin
Sigh... I think i must go and check my eyes...
Dun understand how i mess up the settings...
Well, at least now i have the correct settings... thanks...
You're welcome, now start studying them
Trade what you see, not what you think.
  • #112,839
  • Sep 12, 2008 11:44am Sep 12, 2008 11:44am
Or more of this....
Attached Image
  • #112,840
  • Sep 12, 2008 11:45am Sep 12, 2008 11:45am
Quoting TraderStar
And just above a trend line I have drawn from Aug 5 high and just above weekly pivot, although that will change on Sunday.

From what I've seen of her behaviour, she hates to be pushed down and will come roaring out of downtrends like a rocket ... hopefully next week will provide more insight. I 'think' at some point she needs to make a token visit below 180, but that and $7.50 will get you a latte at Starbucks
if this beast wants to make a daily correction first or anything else, I will just follow my chart

Don't think about what you want her to do, actually don't think at all, just follow her

Daily candle close is very important today.
Trade what you see, not what you think.
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