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

Hi mate, i am sharing my view again before someone start calling heavy and deep fall.....trade ur chart i am only mind sharing i ould get it wrong....

FWIW --It's taken me a long time to learn that when your up 20, 50 100 pips--CLOSE THE TRADE... I have only had a few trades go completely wrong-- But I loose more by not closing winners- then trades that just start off bad. Now I have a stupid rule in my head-- if the trade is up 3% or more of my acct balance I close the trade no matter what... I can always re-enter. I've been up over 400 pips in a trade (IIRC it was more than one pair too) only to close it +10 pips... GREED is MY worst enemy...

Also I live a life out of forex-- I can't count the number of times I've been up 20 -30 pips- Thinking HEY I"M making $$$ time to sit in the Jaccuzzi...returned 1/2 hr later and be down, down, down...

I really respect traders like Grashid that can make it swing trading. For now I just try and keep the crumbs...

Like I posted last night the "Sun indicator" repaints it moves and it will even disappear on a 5 to 15 min time frame if the PA keeps going, I really found it useless,but thats just my experience with it.

This might be that time hope everyone is on the right side of orderflow

Hello,
I did not use this indy, but I just realized that it has potential and some visual alerts. Recently, I just pay attention to bollinger bands. It looks like work well with channel and other indies. Please give a try.

I had attached here two comparison, 1. with RSX (I modifed) and other with legacy RSI ( not smooth). You need to pay attention to the green line when it touches the bollinger blue either top / bottom (short/long), if it does touches, then you have a good chance to short or long. I had circled in the picture.

So, please do backtest, trade with your own risk. I will try to test it as well. Thanks.

Instruction on top of the indy:
//| |
//| Traders Dynamic Index |
//| |
//| This hybrid indicator is developed to assist traders in their |
//| ability to decipher and monitor market conditions related to |
//| trend direction, market strength, and market volatility. |
//| |
//| Even though comprehensive, the T.D.I. is easy to read and use. |
//| |
//| Green line = RSI Price line |
//| Red line = Trade Signal line |
//| Blue lines = Volatility Band |
//| Yellow line = Market Base Line |
//| |
//| Trend Direction - Immediate and Overall |
//| Immediate = Green over Red...price action is moving up. |
//| Red over Green...price action is moving down. |
//| |
//| Overall = Yellow line trends up and down generally between the |
//| lines 32 & 68. Watch for Yellow line to bounces off |
//| these lines for market reversal. Trade long when |
//| price is above the Yellow line, and trade short when |
//| price is below. |
//| |
//| Market Strength & Volatility - Immediate and Overall |
//| Immediate = Green Line - Strong = Steep slope up or down. |
//| Weak = Moderate to Flat slope. |
//| |
//| Overall = Blue Lines - When expanding, market is strong and |
//| trending. When constricting, market is weak and |
//| in a range. When the Blue lines are extremely tight |
//| in a narrow range, expect an economic announcement |
//| or other market condition to spike the market. |
//| |
//| |
//| Entry conditions |
//| Scalping - Long = Green over Red, Short = Red over Green |
//| Active - Long = Green over Red & Yellow lines |
//| Short = Red over Green & Yellow lines |
//| Moderate - Long = Green over Red, Yellow, & 50 lines |
//| Short= Red over Green, Green below Yellow & 50 line |
//| |
//| Exit conditions* |
//| Long = Green crosses below Red |
//| Short = Green crosses above Red |
//| * If Green crosses either Blue lines, consider exiting when |
//| when the Green line crosses back over the Blue line. |
//| |
//| |
//| IMPORTANT: The default settings are well tested and proven. |
//| But, you can change the settings to fit your |
//| trading style. |
//| |

Friday move to 155.5 area and the immediate fall, If you cross check with the Indicator CCI20 and qqe you can notice that CCI has shot up sharply but qqe was in the down trend

what do you mean by this might be that time...?

This threat never sleep even on market holiday

Possibly what Orion's trying to suggest is that this pair had showed signs of weakness since Friday & this might well continue into the coming weeks before a continuation towards the upside. I tend to agree with that if that's what he's suggesting & Monday could probably paint us a better picture where it's heading. Bias based on the chart (attached 4hourly) for me is down although admittingly the closing price at the end of Friday didn't look convincing enough since price pulled back and closed on the small support at the high 153 levels. Orion mate, you'll have to correct me if I'm wrong

Original post explaining why my bias has flipped to the other side :
http://www.forexfactory.com/showpost...stcount=179975

Have a good one & enjoy the rest of your weekend.

Sorry for the late reply. Closed 154.12 on mine (fxcm).
Have a good one brother

As of my own experience as long as you fail with live trading and in order to get better in controlling emotion you switch to demo it won't count as training your mentality coz you know this is a "demo" account.

I believe it's better to stay live but with a very smaller equity to start, we say $200 and try to trade micro account. While still real money is involved you train your brain to control your emotion at trading and in the meantime if you get called you will lose small amount of money. The fact is that your mind will show the same reaction to a blown up account no matter how much the starting capital was. Blowing up an account is bitter!

This way you mind will grow and be calmer dealing with real money and in time you will get there. Then it will be no difference between a $200 or $10000 or $Demo . That day when you see a "signal" based on your system you will take it and if you see you were wrong you will close it without thinking of it as it was a losing position and worrying about red pips because you will be %100 confident that "if you follow your rules" green pips will come. In fact there will be no difference between red pips and green pips for you. Do you know if you teach an uneducated person simply watch the screen and how to push those 3 buttons and tell him when a bar opens above this line (moving average) push the button "Buy" and when comes back down and closes below it press "close" and then push "Sell" button without telling him that this is all about money, he will make more money that most of us here?

As long as we think that green pips are good and red pips are bad we can't defeat Greed and Fear.

I dont think GY will tank yet next week before he reach 156/156.50 area :-

1. as GU look strong bull on weekly n monthly and on his way going to Monthly 38.1% ~ 1.64...
2. US OPEL may turn to BS news as what happen in GM/Ford/DC in early this year even they claimed for chap 11.
3. H4/D1/Weekly all above gann and H1 61.8% may flip to above gann too..

Look like UY yes is a strong bearish but I saw weekly 50% is the forming of support atm ~ 94.4 and M1&H1 show us in reversal mode

So my conclusion for GY ..

Yes..possible bearish next week but I need to see if she able to failed @ ~ my UTL 156/156.60 area...break..mean monthly 38.2% ~169 and retrace for south to tank is possible at this area..

D1 even give a doji to me..possible 151 @ Daily 38.2% test and back to north possible...unless break 149 then 147-143 area possible next week..

But look carefully at H1...she may open higher tomorrow with test at H1 38.2% ~ 154.2 and if she break H1 61.8% @ 154.8..then north we go with at least she trying to test @ my UTL 156/156.5 area before going to test next station @monthly 38.2%...

Currently am setting my long after big drop from 155.50 in 4 entry and will try to put my target @ 155 first...see what happen when she open in asian tomorrow...

Am still in bullish mode since GU are close above 1.60 area...but am may be wrong ...and may change my setting accordingly between asian-London session on Monday...

Currently GY is @ 154.55... http://forex.tradingcharts.com/quote...ish_pound.html

See next week ya...Cheers..

Thanks for your nice analysis as always!
Can you show us the trendlines on your D1? I cannot get the same UTL as you so I would like to see your trendlines on the chart.
Thanks!

I think I have a very good book for you (for free). If interested PM me as I don't want to spam.

[quote=azibi;2767673]I think I have a very good book for you (for free). If interested PM me as I don't want to spam.[/

Can I have a copy too please. Thanks

I would be interested in a copy of the book also.

anything is possible. i posted two charts:

first one is jpy - globex (COT report). see how large traders (green line in the lower window) are starting to position: long yen. look at the last 2 candles - it seems to me that yens are being bought, and that means */yen pairs will go down at some point.

in terms of what will happen with g-j, well, i would expect another attempt at breaking last high but not before a retracement. second chart shows my expected target - 152.35 (38.2 fibo) before another possible rally. it may go lower - 151.30 (50 fibo), but it should stay above 146.80 if it is to go up again.

the trend is up until proven otherwise.

Thanks LuckyRoost..I know that there is no one holy grail indi..but I think I will see..or observe this..i like it..(artist in me)..I realise that it may repaint (thanks FXgrnwise) so confluence of events, mom div..VSA..I love VSA... I cannot believe i traded without it.. Have a wonderful week!!

I think we get some correction here as the 1 hr candle patter might indicate. IN short term 154.15-30 will need to be tested 154.55 pretty good resistancce on 15m Ichimoku cloud. My inclination is to go short for 150 pips. I agree that we will probably see a break over 156 before a possible big move down to 148.00 145 MY UTL on daily is currently 165

Sorry for not posting my Daily UTL...
For me off cause we should watch out any long atm..but if she able to break 155.80 and it mean she break weekly 38.2% and 50% weekly is the next stop...yellow line will be the best area to carefully watch...

I will carefully look att this 155-155.80 area atm even my stoc already give a signal of short...pure manipulation seem still in play and am only ready for going short if all the above mentioned are failed.

My prediction GY may tense to going to test at this area from opening - Before London session.... Waiting for nice short setting in asian look like is the best timing for me but anything can happen...So I rather out and see what PA is look like and possibility will set my new short setting after 1-3 hrs after London or maybe NY session...see what happen in my small long entry on Friday....Good luck