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

  • #122,341
  • Oct 15, 2008 3:15am Oct 15, 2008 3:15am
Ok 1st step done, we have a 4h candle close below 4h gann

now gotta have some patience and wait for the 4h QQE to confirm crossing down, and then this baby should tank!!!!

Patience..
Trade what you see, not what you think.
  • #122,342
  • Oct 15, 2008 3:20am Oct 15, 2008 3:20am
Quoting karmostaji
Ok 1st step done, we have a 4h candle close below 4h gann

now gotta have some patience and wait for the 4h QQE to confirm crossing down, and then this baby should tank!!!!

Patience..
thanks for info.

this was exactly my question, have no charts here ...
  • #122,343
  • Oct 15, 2008 3:24am Oct 15, 2008 3:24am
Quoting karmostaji
Ok 1st step done, we have a 4h candle close below 4h gann

now gotta have some patience and wait for the 4h QQE to confirm crossing down, and then this baby should tank!!!!

Patience..
how mins left till 4H qqe crossing?
  • #122,344
  • Oct 15, 2008 3:24am Oct 15, 2008 3:24am
On my charts we have 3.5 hrs....
  • #122,345
  • Oct 15, 2008 3:24am Oct 15, 2008 3:24am
Quoting karmostaji
Ok 1st step done, we have a 4h candle close below 4h gann

now gotta have some patience and wait for the 4h QQE to confirm crossing down, and then this baby should tank!!!!

Patience..
Help

For some reason my 4 hour chart does not show current price but it is OK on all other time frames.

Can someone tell me what to check/change please
  • #122,346
  • Oct 15, 2008 3:25am Oct 15, 2008 3:25am
Quoting moneybookers
how mins left till 4H qqe crossing?
I'll know in 3hrs 30mins

I'll post once we have a confirmed 4h QQE cross down.
Trade what you see, not what you think.
  • #122,347
  • Oct 15, 2008 3:27am Oct 15, 2008 3:27am
[quote=noobie1;2281171]Hi Peaches,

How did you calculate this again?? I have never heard of this method before and was wondering how you came about it and is it fairly reliable as a target calculation tool... thanks in advance

Hi noobie1,

have learned this method from hussiin, on higher time frames (weekly, monthly) often works perfect

I get the high and the low from previuos candle and count the difference
in PIPS. Have no chart here, but for example: yesterdays high was 181, low was 176, difference is 500 PIPs. Now, it´s big bear market it might drop
a bit lower then 500 PIPs (600-700). So I pick the high of the current daily candle, substract minimum 500+ PIPS and have my target as daily low.

If result match with fibo line or pivot support, this would be fine,too.

Lets see, how it works
  • #122,348
  • Oct 15, 2008 3:27am Oct 15, 2008 3:27am
Quoting karmostaji
I'll know in 3hrs 30mins

I'll post once we have a confirmed 4h QQE cross down.
Therefore my candle is still above 4 HR GANN. Help
  • #122,349
  • Oct 15, 2008 3:28am Oct 15, 2008 3:28am
erm.... i'm watching something i'd like to share with u guys... we might be having an inverse on the 4h chart targeting 188 or above.

this possibility is not valid if we close below 50% fibo on the 4h level of course.

the green TL where price is at currently is the monthly TL...

Attached Image (click to enlarge)
Click to Enlarge Name: gj_4h.gif Size: 14 KB
  • #122,350
  • Oct 15, 2008 3:33am Oct 15, 2008 3:33am
Quoting karmostaji
I'll know in 3hrs 30mins

I'll post once we have a confirmed 4h QQE cross down.
thanks,GU need to break below 17430 for GJ tank,
  • #122,351
  • Oct 15, 2008 3:36am Oct 15, 2008 3:36am
Thanks for the reply Peaches... and look forward to you being right
  • #122,352
  • Oct 15, 2008 3:37am Oct 15, 2008 3:37am
Quoting lilmoe
erm.... i'm watching something i'd like to share with u guys... we might be having an inverse on the 4h chart targeting 188 or above.

this possibility is not valid if we close below 50% fibo on the 4h level of course.

the green TL where price is at currently is the monthly TL...

Attachment
looks like bears are having a hard time with that monthly TL already. we need more power to close below, but even though know GJ's behavior around daily/weekly/monthly TLs, we might close below it and come back above, it depends on the weekly chandle's close above/below that TL.

here's another chart showing a very possible classic 1-2-3 buy setup off 23.6 fibo of the fall from 197, targeting either 61.8 or even 78.6, the red TL on the top might be the target (Daily TL).

edit: i have 2 TLs placed 4h and daily TLs. the daily is the one on the top, and the 4h TL is the one price successfully closed above but failed to maintain, causing this retracement (or reversal?)... if we close above the 4h TL, then i'm 70% sure we'll get to the other daily one in a short period of time.

i also marked the neckline with a green TL.

Attached Image (click to enlarge)
Click to Enlarge Name: gj_4h.gif Size: 14 KB
  • #122,353
  • Oct 15, 2008 3:43am Oct 15, 2008 3:43am
It wants to fall so badly but someone is not letting go.. lol
Trade what you see, not what you think.
  • #122,354
  • Oct 15, 2008 3:48am Oct 15, 2008 3:48am
Quoting karmostaji
It wants to fall so badly but someone is not letting go.. lol
JPy are moving the market
  • #122,355
  • Oct 15, 2008 3:49am Oct 15, 2008 3:49am
if UJ breaks 101, down goes GJ
if GU breaks 7400, down goes GJ

Patience
Trade what you see, not what you think.
  • #122,356
  • Oct 15, 2008 3:53am Oct 15, 2008 3:53am
Quoting karmostaji
if UJ breaks 101, down goes GJ
if GU breaks 7400, down goes GJ

Patience
when to entry in this case?
  • #122,357
  • Oct 15, 2008 4:00am Oct 15, 2008 4:00am
Quoting karmostaji
if UJ breaks 101, down goes GJ
if GU breaks 7400, down goes GJ

Patience
GU is trapped in this channel, but the range is getting tighter to the downside.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 26 KB
  • #122,358
  • Oct 15, 2008 4:04am Oct 15, 2008 4:04am
i went for a long scalp for a possible 1h 5sma retracement at 176.25
  • #122,359
  • Oct 15, 2008 4:05am Oct 15, 2008 4:05am
Quoting GodfreyH
GU is trapped in this channel, but the range is getting tighter to the downside.
we need wait till us stock market open to see,that's the driver these days for forex.
  • #122,360
  • Oct 15, 2008 4:08am Oct 15, 2008 4:08am
Quoting lilmoe
i went for a long scalp for a possible 1h 5sma retracement at 176.25
target 177.25?
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