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

  • #120,241
  • Oct 8, 2008 10:46am Oct 8, 2008 10:46am
Quoting gadawg
Which is basically the same as the 1hr and 4hr gann crosses. Right?
yes I'm using the same strategy but when scalping I'm using different TF's which are 5m and 15m
Trade what you see, not what you think.
  • #120,242
  • Oct 8, 2008 10:56am Oct 8, 2008 10:56am
I'm short G/J at 178.5 and will scalp the G/A on the 5m.

FWIW, I expect G/J to drop tomorrow when the British drop rates.

Just MHO

B
  • #120,243
  • Oct 8, 2008 10:57am Oct 8, 2008 10:57am
this stubborn s2 doesn't want to break... would someone sell a couple of yards for me?
  • #120,244
  • Oct 8, 2008 10:58am Oct 8, 2008 10:58am
As a matter of interest, what sort of stop do you use on this monster?
  • #120,245
  • Oct 8, 2008 11:00am Oct 8, 2008 11:00am
Quoting bigcoupe
I'm short G/J at 178.5 and will scalp the G/A on the 5m.

FWIW, I expect G/J to drop tomorrow when the British drop rates.

Just MHO

B
damn, u had 600+ pips and u didn't take any profit before that recent rally?
  • #120,246
  • Oct 8, 2008 11:01am Oct 8, 2008 11:01am
Quoting karmostaji
LOL @ 2100 pips being considered as scalping

I appologize greatly for the miscommunication. Since I was trading a mini lot, the pips show up differently in FXCM. I did the math and my scalp was for about a 355+ pip profit.

Sorry about that.

B
  • #120,247
  • Oct 8, 2008 11:03am Oct 8, 2008 11:03am
Quoting karmostaji
yes I'm using the same strategy but when scalping I'm using different TF's which are 5m and 15m
Karmo, here's something I was thinking of.

If your using the 5 minute charts and waiting for a candle to close above the gann, you could actually use the 15 minute gann as a take profit area. That sounds like a good strategy to me while trading these loer tf charts.
I don't like putting much risk into lower timeframes.

For instance, if we were to wait for the cross and close above, which at the moment would be around 173, we could then place the profit target at around 173.65 or so- accounting for movement in the gann line on the 15 minute chart.
Attached Image(s) (click to enlarge)
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I dream, therefore I become.
  • #120,248
  • Oct 8, 2008 11:06am Oct 8, 2008 11:06am
Quoting mike w
Karmo, here's something I was thinking of.

If your using the 5 minute charts and waiting for a candle to close above the gann, you could actually use the 15 minute gann as a take profit area. That sounds like a good strategy to me while trading these loer tf charts.
I don't like putting much risk into lower timeframes.

For instance, if we were to wait for the cross and close above, which at the moment would be around 173, we could then place the profit target at around 173.65 or so- accounting for movement in the gann line on the 15 minute chart.
Yes that's a good way to look at it as well, as long as you end up with green pips in this crazy volatile market it's all good my brother
Trade what you see, not what you think.
  • #120,249
  • Oct 8, 2008 11:08am Oct 8, 2008 11:08am
Quoting lilmoe
damn, u had 600+ pips and u didn't take any profit before that recent rally?
Nope...I don't think we have hit the bottom.

I'm more a swing trader.

Although it wouldnt hurt to get out right now in case we have a double bottom on the 15M. However, I expect 170 or lower so it's hard for me to say what I will do.

B
  • #120,250
  • Oct 8, 2008 11:10am Oct 8, 2008 11:10am
Quoting lilmoe
this stubborn s2 doesn't want to break... would someone sell a couple of yards for me?
thanks
  • #120,251
  • Oct 8, 2008 11:12am Oct 8, 2008 11:12am
possible double bottom

if 5m QQE crosses up n above gann, i'm going long for a scalp again

Now I know why lilmoe doesn't sleep lool
Trade what you see, not what you think.
  • #120,252
  • Oct 8, 2008 11:12am Oct 8, 2008 11:12am
170 here we come!
  • #120,253
  • Oct 8, 2008 11:17am Oct 8, 2008 11:17am
Quoting bigcoupe
Nope...I don't think we have hit the bottom.

I'm more a swing trader.

Although it wouldnt hurt to get out right now in case we have a double bottom on the 15M. However, I expect 170 or lower so it's hard for me to say what I will do.

B
i don't know about u, but i would take profit and reload on my swings... but i'm sure u know what u're doing.

anyway, considering PA on m5 if this is a double bottom, we might be expecting another lousy 50% fibo... i might go long if i get the setup...

and YES i did take profit at the bottom let's see if i either reload or go long...
  • #120,254
  • Oct 8, 2008 11:19am Oct 8, 2008 11:19am
Quoting karmostaji
possible double bottom

if 5m QQE crosses up n above gann, i'm going long for a scalp again

Now I know why lilmoe doesn't sleep lool


now u believe me when i say i make all those pips don't u?

the key is taking PARTIAL profit bro
  • #120,255
  • Oct 8, 2008 11:22am Oct 8, 2008 11:22am
Quoting lilmoe
this stubborn s2 doesn't want to break... would someone sell a couple of yards for me?
Now it seems monthly S3 is holding it.
  • #120,256
  • Oct 8, 2008 11:22am Oct 8, 2008 11:22am
Quoting lilmoe
i don't know about u, but i would take profit and reload on my swings... but i'm sure u know what u're doing.

anyway, considering PA on m5 if this is a double bottom, we might be expecting another lousy 50% fibo... i might go long if i get the setup...

and YES i did take profit at the bottom let's see if i either reload or go long...
hey bro, how you doing today? ... bro are you following a particular strategy for scalping and catching very short term trends? .. btw, which would you prefer to use to catch the impending correction or reversal, RSI CCI or MACD?
I recommend you read something else as this sentence is now concluded.
  • #120,257
  • Oct 8, 2008 11:23am Oct 8, 2008 11:23am
Quoting lilmoe


now u believe me when i say i make all those pips don't u?

the key is taking PARTIAL profit bro
lol yah I do, my bag is filling up nicely.. let's keep going
Trade what you see, not what you think.
  • #120,258
  • Oct 8, 2008 11:25am Oct 8, 2008 11:25am
Anyone have a indicator where the FIBS are drawn automatically and change when price changes?
  • #120,259
  • Oct 8, 2008 11:29am Oct 8, 2008 11:29am
Quoting Obaidah
hey bro, how you doing today? ... bro are you following a particular strategy for scalping and catching very short term trends? .. btw, which would you prefer to use to catch the impending correction or reversal, RSI CCI or MACD?
CCI,

and i guess things are paying off

169 here we come
  • #120,260
  • Oct 8, 2008 11:32am Oct 8, 2008 11:32am
Quoting karmostaji
lol yah I do, my bag is filling up nicely.. let's keep going
this short is going well, the only thing worrying me is dj, this thing might rally at anytime, i hate intervention...
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