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

true, good news these days is usually cooked however lately these pairs are also taking much worse than expected news with a grain of salt and whipping it in the opposite way.

I am short with 139.80 TP

Targetting 139.50, then below 139:

nice to see you here

Good stuff mate and I think it is a hard work because the code is about comparing those candles to their previous one so putting them into code would be at least time consuming if not hard. I here thank you for all those efforts.

BTW I just wanted to mention that some complex patterns could be combined or compacted into one simple pattern, I think you know about this type of candle stick pattern recognition ... I think you can find most of patterns here if you like.

For example the "bearish identical three crows" is very similar to "Dark cloud cover" if you combine those three bearish candles or some other combination might result a simple pin bar or hanging man or a hammer.

I think those major patterns work well. Actually I have many of those patterns on my wall which are more than 65 but honestly I've used only 12 of them and they work well.

Morning (evening) star
(inverted) hammer
Hanging man
Doji
Pin bar
Engulfing(s)
DBHLC <<-->> DBLHC
MSH <<-->> MSL
IB <<-->> OB
Shooting star
Spinning top
High wave

The other pattern don't happen as often as those above and honestly among those I believe on 2 of them most of all: Pin bars and Engulfings You see I summarized them

BTW I think learning all those pattern is a very good approach and if someone follows them even blindly he can make money but the point is to understand THE MEANING of a candle formation or pattern rather than memorizing them. For example understanding what has happened in the market between bulls and bears when a simple pin bar or a shooting star appears on the chart and also where it happened?? This is what gives you the right vision and enables you to predict market's next movement with high probability and select and play only the successful pattern from the chart ... so why and where?

I can give you tons of examples that even major PA patterns fail and don't play out as expected. So the hard part is to understand and feel how market moves and why. These candles can reflect what is going on in the market very well although they don't give us all the information, like how many downtick or uptick a candle had from candle open to close time or information like whether price rose first and then fell before close or Vice versa ... (Ensign software which Piters is using offers other types of complex candlestick charting which has these informations and more charting methods inside it).

BTW this is an indicator which I've found interesting. It combines lower time frame's candlesticks, actually it shows higher time frame candles in a lower time frame chart so you don't have to shift between them.

Cheers

Good Job

TP 1.3980

very nice

Had a similar order :-)

Actually the trend alert indicator in my signature woke me up, even before this trend down began and I entered the trade based on what I saw on the 30 min chart.

A good 50 pips for a sleeping man

Necessity is the mother of invention.

I am currently looking at 138.62 lets see.. am Putting my trade to be at present will see how this one plays out...Good luck

i wonder if you can send it to me too if you dont mind

I go weekly fib level to fib level, so unless that level is not broken, I am out.

Arezab thats cool indi thanks mate

hi, I downloaded your indicator...is there a better way to use it? what should I look for when using it?

would you mind sharing a few words about it?

thanks

The alarm stopped, which means the trend is over, i am off to sleep again, until this wakes me again.

The basic working is that when the standard deviation indicator is trending up, it means there is a strong trend, worth trading.

So it will sound the alarm

When standard deviation stops trending upwards and starts falling it means we have entered consolidation or slow markets or flat markets and there is no reason to sit on the computer anymore.

So the alarm stops.

Opened a new short for 138.60

they are gonna open the tap soon on yen

gonns put a hurtin on CL lomgs also

Sorry for not understanding- but what do your comments mean?