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

  • #157,521
  • Feb 2, 2009 5:38pm Feb 2, 2009 5:38pm
Quoting amr_hisham
Hi all
i am a new trader have been in forex trading for only 8 months i have been reading in your fourm lately and i found it very intersting ,
malcolmb , can u post one more chart for the denmark_trend_new indicator ,i still didn't figure it out clearly.
thank you all for sharing your knowledge


red lines are down channel
blue lines up channel

right now top of chanenl breakout lines and bottom of up channel lines are both at 127.14. So if price breaks back above this and looks like at can be sustained go long. other than that you should already be in short form trendline given back up close to 128 , with stop moved down .

If Price action says long set up is good the demark has given us targets 127.36 to 127.46 , which also ties in with new daily pivot.

as i type this price action say i am long 127.14 , and will move stop break even +1 as soon as i get +20 pips

this is how to scalp this on 5 min , but for newbie i would recommend you use it on 15 min and higher for longer term more profitable trades.

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  • #157,522
  • Feb 2, 2009 5:44pm Feb 2, 2009 5:44pm
Quoting malcolmb14
I am new to it also .... it just draws trendlines on the charts and then i use these , along with price action and areas of s/r for targets.

play around with it you will get the hang of it
thanks for sharing that indicator
I recommend you read something else as this sentence is now concluded.
  • #157,523
  • Feb 2, 2009 5:46pm Feb 2, 2009 5:46pm
Quoting malcolmb14
red lines are down channel
blue lines up channel

right now top of chanenl breakout lines and bottom of up channel lines are both at 127.14. So if price breaks back above this and looks like at can be sustained go long. other than that you should already be in short form trendline given back up close to 128 , with stop moved down .

If Price action says long set up is good the demark has given us targets 127.36 to 127.46 , which also ties in with new daily pivot.

as i type this price action say i am long 127.14 , and will move stop break...


you cannot take a trade on face value amd look at 30 min if trading small time frames . i have target 126.50 so am either selling rallies or staying in sell trade off 128 for now
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  • #157,524
  • Feb 2, 2009 5:48pm Feb 2, 2009 5:48pm
Quoting malcolmb14
you cannot take a trade on face value amd look at 30 min if trading small time frames . i have target 126.50 so am either selling rallies or staying in sell trade off 128 for now
thanks
i went for small long on my demo account, i will try for few days before going to real account thanks again
  • #157,525
  • Feb 2, 2009 5:54pm Feb 2, 2009 5:54pm
Quoting amr_hisham
thanks
i went for small long on my demo account, i will try for few days before going to real account thanks again

alwaty look at majopr trend on 30 min and get feel for long term targets ( next few hours) ... mine is 126.5 so will sell the rallies in asia unless 128 is taken out
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  • #157,526
  • Feb 2, 2009 6:00pm Feb 2, 2009 6:00pm
if the qqe crosses on the 1hr we could see a nice fall

good luck folks
  • #157,527
  • Feb 2, 2009 6:01pm Feb 2, 2009 6:01pm
Quoting cohiba pips
if the qqe crosses on the 1hr we could see a nice fall

good luck folks

we could even see test of 125.xx lows
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  • #157,528
  • Feb 2, 2009 6:09pm Feb 2, 2009 6:09pm
Quoting cohiba pips
if the qqe crosses on the 1hr we could see a nice fall

good luck folks
i am using MT4 i think qqe is an indicator can someone post it here.
Thanks.
  • #157,529
  • Feb 2, 2009 6:14pm Feb 2, 2009 6:14pm
Quoting amr_hisham
i am using MT4 i think qqe is an indicator can someone post it here.
Thanks.
http://www.forexfactory.com/showpost...&postcount=654
  • #157,530
  • Feb 2, 2009 6:18pm Feb 2, 2009 6:18pm
Quoting shelby
http://www.forexfactory.com/showpost...&postcount=654
Thanks
  • #157,531
  • Feb 2, 2009 6:23pm Feb 2, 2009 6:23pm
Quoting malcolmb14
we could even see test of 125.xx lows
its a classic setup but last few weeks havent been playing ball

im going to have a rant about that soon and i think its down to

gold believe it or not but im not feeling great at the minute so i'll post when im

up to writing
  • #157,532
  • Feb 2, 2009 7:20pm Feb 2, 2009 7:20pm
Hi guys,

it's great when i already can make a post here...

i hope i can learn trading from you guys..

ii just short gj..is that ok right now?
  • #157,533
  • Feb 2, 2009 7:21pm Feb 2, 2009 7:21pm
Quoting karmostaji
It is indeed confusing, GJ has been biting me since Thursday, I don't know why but nothing seems to work fine.. but I agree with you we have tough resistance close to 129, I'm expecting GJ to go back down into the low 120s but who knows with GJ being so unpredictable the past couple of days.

Good luck.

Karmo, I am also apart of the Elite club, that has been confused about this pair... but just been trying to hold tight to my training, regarding QQE & 4hr Gann for conformation. Hopefully, things will continue to fall in place.

Normally, when the Eur is up... so is the Gbp... but thas not been the case, very confusing indeed.
  • #157,534
  • Feb 2, 2009 7:23pm Feb 2, 2009 7:23pm
Couldnt handle it under 2690 and now we get a nice little pop, you gotta love this price action.
  • #157,535
  • Feb 2, 2009 7:35pm Feb 2, 2009 7:35pm
Quoting Sonofsin5
Couldnt handle it under 2690 and now we get a nice little pop, you gotta love this price action.
it looked like someone was dicking around with UJ, pushing the GJ up before the news to reenter shorts.
  • #157,536
  • Feb 2, 2009 7:43pm Feb 2, 2009 7:43pm
gj treating me roughly .. must have upset her ....

missed tha standard bull div rsx on 5 min.... must need new glasses .. was easiest trade all day ...lol
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  • #157,537
  • Feb 2, 2009 7:46pm Feb 2, 2009 7:46pm
Quoting Eulogy
it looked like someone was dicking around with UJ, pushing the GJ up before the news to reenter shorts.

nah really does stuff like that really happen in the markets ....

Blogging daily now at www.volume.zone
  • #157,538
  • Feb 2, 2009 7:50pm Feb 2, 2009 7:50pm
Quoting malcolmb14
gj treating me roughly .. must have upset her ....

missed tha standard bull div rsx on 5 min.... must need new glasses .. was easiest trade all day ...lol
lol, how about to get some sleep??
or you want to break my "zoombie" record ??
  • #157,539
  • Feb 2, 2009 7:51pm Feb 2, 2009 7:51pm
Quoting Piters
lol, how about to get some sleep??
or you want to break my record ??

still early ..... 6 pm here ... another 5 hrs before bed
Blogging daily now at www.volume.zone
  • #157,540
  • Feb 2, 2009 7:52pm Feb 2, 2009 7:52pm
weekly pivot point 127.08 still hold the price for more down
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