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

  • #124,781
  • Oct 22, 2008 8:56am Oct 22, 2008 8:56am
Quoting karmostaji
hmm, waiting
cable is formed a bear flag, if that sucker breaks downwards, say goodbye to my 4h pattern
  • #124,782
  • Oct 22, 2008 8:57am Oct 22, 2008 8:57am
Quoting lilmoe
cable is formed a bear flag, if that sucker breaks downwards, say goodbye to my 4h pattern
yup, there is still lots of room down on the daily IMO
Trade what you see, not what you think.
  • #124,783
  • Oct 22, 2008 8:59am Oct 22, 2008 8:59am
Quoting lilmoe
cable is formed a bear flag, if that sucker breaks downwards, say goodbye to my 4h pattern
I'm in no hurry, I'll just wait for a breakout. I'm not happy trading in the middle of a fib expansion.
  • #124,784
  • Oct 22, 2008 9:02am Oct 22, 2008 9:02am
Quoting karmostaji
For bearish continuation, QQE crosses upwards but price will remain trading below gann and then maybe just range in a small area until QQE is ready to cross back down. An example would be the 30m QQE now, look at it.
AOA Karmo,

Thank you for your continued comments and suggestions. I love your posts. You have been a great help for beginners and senior traders.

Question: I use MacD and RSI along with MAs and trend lines on various TFs. You and I come to the same conclusion most of the time. I would like to use QQE or Gann hi/low. I noticed that you use VT Trader as well. Do you use VTs QQE and Gann indicators? If so, what settings do you for both indicators?

Are you familiar with cup and handle formations? It appears that most majors and formaing C&Hs. Which may be a sign of temp retracement. Do you agree?
Strong down trend suggests that it can not be a reversal yet!!!

Thanks in advance for your help.
  • #124,785
  • Oct 22, 2008 9:02am Oct 22, 2008 9:02am
1H QQE cross up, but price is below Gann
It’s just emotions & money
  • #124,786
  • Oct 22, 2008 9:04am Oct 22, 2008 9:04am
Quoting GodfreyH
I'm in no hurry, I'll just wait for a breakout. I'm not happy trading in the middle of a fib expansion.
it did the same back on the 10, but it broke upwards. lets wait and see.
  • #124,787
  • Oct 22, 2008 9:08am Oct 22, 2008 9:08am
Quoting aalam
AOA Karmo,

Thank you for your continued comments and suggestions. I love your posts. You have been a great help for beginners and senior traders.

Question: I use MacD and RSI along with MAs and trend lines on various TFs. You and I come to the same conclusion most of the time. I would like to use QQE or Gann hi/low. I noticed that you use VT Trader as well. Do you use VTs QQE and Gann indicators? If so, what settings do you for both indicators?

Are you familiar with cup and handle formations? It appears that most majors and formaing C&Hs. Which may be a sign of temp retracement. Do you agree?
Strong down trend suggests that it can not be a reversal yet!!!

Thanks in advance for your help.
Hey,

Thanks for the kind comments.

I use QQE n Gann hilo on VT and MT4 as well, the setting for QQE is smoothing factor = 5 and for the Gann hilo lookback period = 10

I know cup n handle formations, but I don't see one on GJ chart, if you do please post up a chart.
Trade what you see, not what you think.
  • #124,788
  • Oct 22, 2008 9:10am Oct 22, 2008 9:10am
Quoting Val144
1H QQE cross up, but price is below Gann
Interesting indeed, watch the 15m QQE and keep an eye on the GU bear flag

The hints are there, we just need to look at them
Trade what you see, not what you think.
  • #124,789
  • Oct 22, 2008 9:12am Oct 22, 2008 9:12am
Ther 120 pip swings are unreal .. I've played a couple of them but no more, too much nail biting, even if they work out ok
  • #124,790
  • Oct 22, 2008 9:21am Oct 22, 2008 9:21am
Hi lilmoe,

Can you please tell us more about your 5m strategy. I know that you wait for the 5sma to cross the Gann, but then what? Do you consider anything else before you enter a position?

Thanks,

Quoting lilmoe
it did the same back on the 10, but it broke upwards. lets wait and see.
  • #124,791
  • Oct 22, 2008 9:27am Oct 22, 2008 9:27am
Quoting TraderStar
Ther 120 pip swings are unreal .. I've played a couple of them but no more, too much nail biting, even if they work out ok
This is just violent have rarely seen swings this evil before. At this point im chewing my cuticle's its too nerve racking.

I was up 120 pips on GEPPY and lost it on the last 10 minute bar. CRAP.
  • #124,792
  • Oct 22, 2008 9:32am Oct 22, 2008 9:32am
Quoting poweredbuyer
This is just violent have rarely seen swings this evil before. At this point im chewing my cuticle's its too nerve racking.

I was up 120 pips on GEPPY and lost it on the last 10 minute bar. CRAP.
always lock something when you are +100 up JMHO
Discipline + Patience - Fear - Greed = Success
  • #124,793
  • Oct 22, 2008 9:34am Oct 22, 2008 9:34am
This is what I mean when I say between fib levels. If you were long at 261.8 then good, but otherwise after a good move (cable moved about 1000 pips in two days), it just ranges between certain levels. Here, it is between the 200 and 261.8.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 24 KB
  • #124,794
  • Oct 22, 2008 9:40am Oct 22, 2008 9:40am
just a simple chart ...
Attached Image (click to enlarge)
Click to Enlarge Name: gj exp.gif Size: 23 KB
Discipline + Patience - Fear - Greed = Success
  • #124,795
  • Oct 22, 2008 9:42am Oct 22, 2008 9:42am
Quoting karmostaji
Hey,

Thanks for the kind comments.

I use QQE n Gann hilo on VT and MT4 as well, the setting for QQE is smoothing factor = 5 and for the Gann hilo lookback period = 10

I know cup n handle formations, but I don't see one on GJ chart, if you do please post up a chart.
Thanks bud. with GJs high volatility, it is hard to notice the formation, however, if you look at 5min chart and connect the dots you may notice that it has made two cups and handles in the last 10 hrs. Possibly making the third one right now. No clear sign of direction yet after cup/handle formations though. I am leaning towards sideways movement and then drop down to 159.xxx around NY lunch or closing time.
  • #124,796
  • Oct 22, 2008 9:43am Oct 22, 2008 9:43am
the price spike up so fast and go down slowly... :nerd:
Lost...
  • #124,797
  • Oct 22, 2008 9:46am Oct 22, 2008 9:46am
Quoting Ghadeer
Hi lilmoe,

Can you please tell us more about your 5m strategy. I know that you wait for the 5sma to cross the Gann, but then what? Do you consider anything else before you enter a position?

Thanks,
well, my 5m scalping strategy is derived from my m30 strategy with 50ema, MACD, and CCI (period 30).

when i'm trading a normal m5 swing, i wait for cci30 to cross over the 100 line for a long, and below the -100 line for a short. price would be above/below gann before cci's confirmation anyway.

i also look for CCI trendline breakouts. cci sometimes forms lower highs or higher lows, if u draw a TL from the peaks/bottoms that's ur TL. and to confirm that breakout, i would wait for CCI to cross a level. so for example if CCI was over the 0 line, and a breakout occured downwards, i would wait for CCI to go below the 0 line before entering short.

i usually wait for a pullback at the start of each 5m candle, it would reach 5sma most of the time, and that's my entry.

i also trade divergence. i could get a divergence from either CCI or MACD, classic or hiddn: the case of classic divergence should be clear, if we get a bullish divergence for instance, i'd wait for 2 things: 1) close above gann, 2) CCI breaking either the -100, 0, or 100 line(s). when it does, i enter. i somtimes entry in the case of divergence at a very strong S/R level if available, price will most likely bounce from there.

in the case of hidden divergence, 70% of the time, price bounces from 50ema, or at least Price Action (PA) would suggest a reversal at around that area. if i have a bearish hidden divergence, i would wait for price to reach 50ema, and that's my short entry. (sometimes i look at 1m chart for confirmation, when u watch that TF for some time, u'll know when a reversal is coming).

there is however, an essential part for my own developed system. i always take partial profits when i see a potential reversal, and set the rest of my trade to b/e++, 30% of the time u'll regret it, but 70% of time u'll thank God u did it, lol. it's a safe and 1% risk way of trading. it does well for me.

hope that helps
  • #124,798
  • Oct 22, 2008 9:49am Oct 22, 2008 9:49am
lilmoe give up buying, Grandpa is getting tired lol

I feel like looking at bulls vs bears, Orions/lilmoe vs Karmo/Buffet/Soros
Trade what you see, not what you think.
  • #124,799
  • Oct 22, 2008 9:55am Oct 22, 2008 9:55am
Quoting karmostaji
lilmoe give up buying, Grandpa is getting tired lol

I feel like looking at bulls vs bears, Orions/lilmoe vs Karmo/Buffet/Soros
karmo I see qqe on 15M chart getting OB quickly while price is still ranging or even slightly sliding downwards ... I think this should be a bearish continuation pattern with qqe ... am I right?

I'm learning this qqe slowly ...

I can see hidden bearish div on other indicators like CCI 30 too ...
Discipline + Patience - Fear - Greed = Success
  • #124,800
  • Oct 22, 2008 9:56am Oct 22, 2008 9:56am
i've shoreted the pair at 162.39 targeting 160.00 level.

warning : don't follow me ,i'm aggressive speculator.
I always knew that someday I would make it big
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