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

  • #176,621
  • May 12, 2009 7:05am May 12, 2009 7:05am
Quoting rgitt05
My setup is used in the first two hours in all session, and I am doing very well with the breakout strategy..

Template?
  • #176,622
  • May 12, 2009 7:05am May 12, 2009 7:05am
Quoting malcolmb14
13:44 USD/JPY: Head And Shoulders Everywhere New York, May 12. USD/JPY is retesting the lows as a positive open to the commodity/equity market coincides with a falling USD. Everyone is looking for USD/JPY to complete a head and shoulders formation which would send USD/JPY back to 90. 96.65 is near term support with stops set below 96.50. 95.59 is the April low. 97.80/98.00 has offers touted. 97.25 expiries are expected to roll off without a hitch but, if mixed with IBD data and Fed Tsry buying, USD/JPY may experience some mid-morning volatility....
YUP, all news accros are screaming that UY facing a STRONG support at 96.55; means we are truly breaking that level..
  • #176,623
  • May 12, 2009 7:07am May 12, 2009 7:07am
Quoting malcolmb14
13:44 USD/JPY: Head And Shoulders Everywhere New York, May 12. USD/JPY is retesting the lows as a positive open to the commodity/equity market coincides with a falling USD. Everyone is looking for USD/JPY to complete a head and shoulders formation which would send USD/JPY back to 90. 96.65 is near term support with stops set below 96.50. 95.59 is the April low. 97.80/98.00 has offers touted. 97.25 expiries are expected to roll off without a hitch but, if mixed with IBD data and Fed Tsry buying, USD/JPY may experience some mid-morning volatility....
It is very possible and a few words for newbies: in this case it is important to know what pair to long(eur and aussie,imho) and which pair to short(gbp) in short set ups, as euro and ausiie will have stronger bulls, because of the fundamentals and gbp - stronger bears, due to the same. Technically it can be proved, too. The eur and aussie managed to do the 38,2 retracement on weekly, however, pound is weak and was not. If aussie will close above it's 38,2, it will close above weekly 50ema as well and imho the next target is .8272(based on fib projection). As for Yen, I don't see it going below 94 just yet, if something dramatical doesn't happen.
  • #176,624
  • May 12, 2009 7:09am May 12, 2009 7:09am
Gj BUY level

14678
14646

tp
151.90
152.29

Stop
146.35
  • #176,625
  • May 12, 2009 7:09am May 12, 2009 7:09am
It looks like my target will be hit if this volatility continues.




Quoting rgitt05
Between S1 and monthly pivot is my target and I may take a swing trade in this area..

Waiting for London market to close for a possible Reversal..

Attached Image (click to enlarge)
Click to Enlarge Name: 15gjb.gif Size: 28 KB
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  • #176,626
  • May 12, 2009 7:09am May 12, 2009 7:09am
Quoting OGW
Thanks for your help.
U welcome
DiemTraderQuote:
Originally Posted by rgitt05 http://www.forexfactory.com/images/buttons/viewpost.gif
My setup is used in the first two hours in all session, and I am doing very well with the breakout strategy..



Template?
Check FF Trading systems, I am positive you will find a bunch of those there with explanation
  • #176,627
  • May 12, 2009 7:13am May 12, 2009 7:13am
Quoting rgitt05
It looks like my target will be hit if this volatility continues.

R, that's a great target and will have the same in case 147 breaks, based on my chart:
Attached Image (click to enlarge)
Click to Enlarge Name: Untitled.jpg Size: 101 KB
  • #176,628
  • May 12, 2009 7:20am May 12, 2009 7:20am
Quoting pipsbull
U welcome
DiemTraderQuote:
Originally Posted by rgitt05 http://www.forexfactory.com/images/buttons/viewpost.gif
My setup is used in the first two hours in all session, and I am doing very well with the breakout strategy..



Template?
Check FF Trading systems, I am positive you will find a bunch of those there with explanation
Which? VSA or breakout? Thx
  • #176,629
  • May 12, 2009 7:21am May 12, 2009 7:21am
Quoting pipsbull
R, that's a great target and will have the same in case 147 breaks, based on my chart:
147 is looking pretty strong but with NY anything is possible!
  • #176,630
  • May 12, 2009 7:22am May 12, 2009 7:22am
Quoting DiemTrader
Which? VSA or breakout? Thx
breakout, but as for VSA there is a special thread devoted to it in FF, too
  • #176,631
  • May 12, 2009 7:37am May 12, 2009 7:37am
Quoting pipsbull
breakout, but as for VSA there is a special thread devoted to it in FF, too
Thx
  • #176,632
  • May 12, 2009 7:38am May 12, 2009 7:38am
Quoting fxgrnwise
Does anyone have the template for the Auto Daily Pivots? The one with the S1-S2-S3 etc. on it? I lost it when my platform crashed last week.
Thankyou, would appreciate it.
Attached File(s)
File Type: mq4 Pivot Points Multitimeframe eye.mq4   45 KB | 317 downloads


This Pivot contain all in one..Daily, weekly n Monthly Pivot..U can switch it false at the input weeekly n monthly if u want only the daily pivot..
  • #176,633
  • May 12, 2009 7:44am May 12, 2009 7:44am
ES now hitting 900. I would expect a bounce here which should also take GY higher.
  • #176,634
  • May 12, 2009 7:50am May 12, 2009 7:50am
Here are the indicators I used for this setup..

It is real simple system to use..

I used it mainly the first two hours for both London and NY time opening..

After several weeks observing the violatility or similar to VSA that malcolmb14 mention many times in this forum, I decided to put together a strategy which is really a breakout..

During the opening of the London or NY time session, I would wait for a signal from the indicators(arrow)

If the arrow color match the Waddah Attar Explosion indicator, I would take that trade in the direction of the arrow...

I set my targets to the S/R levels ...Also, look out for the major pivots like Monthly and Weekly because they may act as a strong S/R area for a possible buy or sell depending direction..

Enjoy the setup and hope you make pips with it..

Attached Image (click to enlarge)
Click to Enlarge Name: Breakout.png Size: 85 KB
Attached File(s)
File Type: ex4 ###Auto Pivot.ex4   15 KB | 370 downloads
File Type: mq4 Waddah_Attar_Explosion.mq4   8 KB | 339 downloads
File Type: mq4 EMA Crossover Signal.mq4   4 KB | 374 downloads
File Type: mq4 Magnified Market Price.mq4   1 KB | 382 downloads
[
  • #176,635
  • May 12, 2009 7:51am May 12, 2009 7:51am
Thankyou for the template, I appreciate it.
  • #176,636
  • May 12, 2009 7:54am May 12, 2009 7:54am
Quoting forexlion
alright this 4 hour chart confuses me.

 

  1. friday = increasing volume buying
  2. sunday = reducing volume buying
  3. monday = increasing volume selling
  4. then , 1 candle of increasing volume buying
  5. then , reducing volume selling till now.

can the next 4 hour channel or london open, can we see increasing volume buying ??


Quoting forexlion
and if that is the case then all news till london open should push gj lower for the smart lads to pick gj at discounted prices.
Quoting forexlion
we went up on high volume and already the volume is dropping, suggestive that we have reached the top, i am shorting from here.
and i got my shorts the big big way !!!

i am very excited about this indicator now, its damn too predictive. all i do is open trades and shut down the computer to live a life.
  • #176,637
  • May 12, 2009 7:54am May 12, 2009 7:54am
Quoting rgitt05
Here are the indicators I used for this setup..

It is real simple system to use..

I used it mainly the first two hours for both London and NY time opening..

After several weeks observing the violatility or similar to VSA that malcolmb14 mention many times in this forum, I decided to put together a strategy which is really a breakout..

During the opening of the London or NY time session, I would wait for a signal from the indicators(arrow)

If the arrow color match the Waddah Attar Explosion indicator, I would take that trade in the direction...
Hello rgitt05,
I highly estimate your contribution here on FF with above indies to share around. Can you please show us if this indies are ok with higher timeframes usage like D1 to M1?
Thanks
  • #176,638
  • May 12, 2009 8:00am May 12, 2009 8:00am
It can work for higher TF but the DD are bigger..I used it in the past on 4hr and daily TF but sometime the DD discouraged me to use..I am a swing trader but with all this crazy PA, I am focusing on smaller TF to make some profits until the market breakout of the major trend..

I prefer to use on 15min TF because you can get an earlier entry and get more pips targeting the S/R levels..

I hope this help...



Quoting maryinvest
Hello rgitt05,
I highly estimate your contribution here on FF with above indies to share around. Can you please show us if this indies are ok with higher timeframes usage like D1 to M1?
Thanks
[
  • #176,639
  • May 12, 2009 8:09am May 12, 2009 8:09am
TRAP

malcolmb, confirm this please

 

  1. we went up on 1 hour on high volume as i had posted earlier during europe session that we will go up on london open.
  2. then volume dropped, trapping small traders who still bought.
  3. sensing that this is now going down , there was a panic selling with high volume,
  4. and now the volume dropped again

 

  1. this means big players are currently out of the markets.
  2. the next move will be high volume and totally unexpected, a real surprise.


watch out !!

Attached Image (click to enlarge)
Click to Enlarge Name: 1.gif Size: 20 KB
  • #176,640
  • May 12, 2009 8:15am May 12, 2009 8:15am
For the strategy since first thing in the morning when you wake up and getting the brain to figure out direction can be a challenge lol
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