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

  • #185,661
  • Jul 23, 2009 2:23pm Jul 23, 2009 2:23pm
GBPJPY
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  • #185,662
  • Jul 23, 2009 2:24pm Jul 23, 2009 2:24pm
Quoting malcolmb14
not sure why guys who have trend is my girlfriend in their signature are shorting this

as long as 157 holds the trend is up .. all the way to 158.5 in asia.

she seems to be basing 157 for now with buyers each time she gets down there

Attachment
For a second a Thought you are speaking French.. (spelling).. I had to look at it twice if this is the same Malcolmb.. lol

I just want it to go to 155.25 like you mentioned from chart.. to shake off the indicators Bullish ness.. then surely we go to 158xx level.. option expiry is tommorow.. they wanna take it the agreed Price. and next one probably is higher..

Agreed with you..
Markets are not Random, they are designed!
  • #185,663
  • Jul 23, 2009 2:26pm Jul 23, 2009 2:26pm
Quoting Raza
For a second a Thought you are speaking French.. (spelling).. I had to look at it twice if this is the same Malcolmb.. lol

I just want it to go to 155.25 like you mentioned from chart.. to shake off the indicators Bullish ness.. then surely we go to 158xx level.. option expiry is tommorow.. they wanna take it the agreed Price. and next one probably is higher..

Agreed with you..

you love those divergences ... check this one out on 15 min ....

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Blogging daily now at www.volume.zone
  • #185,664
  • Jul 23, 2009 2:36pm Jul 23, 2009 2:36pm
Quoting bluemax
Raza, Question for you on RSI. I swear by it myself. Great for divergence indentification.

When you observe different TF's do you adjust your RSI parameter for different TF's, or do you leave at , say, 10 for everything?

Ive set up a window for each of the following on G/Y for exampple 5min, 15min, 1hr and 4 hr using RSI numbers of 6,8,10 and 12 respectively.

Just curious how you view this thought.

Thanks for all your input here too. Im clearly not a big poster but read alot.

I have the standard/ factory settings.. Period 14.. in all time frames..

I draw trendlines on it too.. I have learned this on my own..how to read RSI..

Specially on 15M when it is above 54 reading .. long is good .

Below 52 - 32 short ... Below 30.. usually hard and fast Tanking.. You judge this by making trendlines on it as well... That shows how much more is left.. up or down.

I read a book 2 days ago.. surprisingly IT said the exact same thing.. but it didnot mention other things that I know about RSI.

I wish Iread that 2 years ago.. I would not had blown few accounts..

But you learn from mistakes.. I had to pay a real heavy price for it.. cause from Demo I trippled my account in 3 months and thought.. I know Every thing...I still dont know every thing

Hope that helps.

And that book said to change the setting to period 7.. in small TFs.. I have not tried that yet?? what I know ..works for me. Also note even RSI makes waves like Elliot Wave theory..thats another thing i have Observed.

I had tried CCI as well.. Its just doesnot work for me..Trader named LILMOE was using that.. he was pretty good..
Markets are not Random, they are designed!
  • #185,665
  • Jul 23, 2009 2:39pm Jul 23, 2009 2:39pm
Quoting malcolmb14
you love those divergences ... check this one out on 15 min ....

Attachment
I am in love with RSI...lol...

I see that 15M .. but malcolmb this one is tricky..from my observation.. PA is telling something else.. thats why I said 155.25 first.. if any below.. it will mess up the angle and symmetry..

Thats why I am short for quick pips.. stop loss is finger click away..
Markets are not Random, they are designed!
  • #185,666
  • Jul 23, 2009 2:39pm Jul 23, 2009 2:39pm
Quoting Raza
I have the standard? factory settings.. Period 14.. in all time frames..

I draw trendlines on it too.. I have learned this on my own..how to read RSI..

Specially on 15M when it is above 54 reading .. long is good .

Below 52 - 32 short ... Below 30.. usually hard and fast Tanking.. You judge this by making trendlines on it as well... That shows how much more is left.. up or down.

I read a book 2 days ago.. surprisingly IT said the exact same thing.. but it didnot mention other things that I know about RSI.

I wish Iread that 2 years ago.....

rsi SUCKS ..lol

just kidding ... if you like RSi ( it was my baby before i found Jurik rsx ) try the rsx .... it is much faster acting and provides trends like crazy. Just a damn shame that half the time I do not trust it ...lol
Blogging daily now at www.volume.zone
  • #185,667
  • Jul 23, 2009 2:46pm Jul 23, 2009 2:46pm
Quoting malcolmb14
rsi SUCKS ..lol

just kidding ... if you like RSi ( it was my baby before i found Jurik rsx ) try the rsx .... it is much faster acting and provides trends like crazy. Just a damn shame that half the time I do not trust it ...lol
I would love to try ..You have mentioned that before this to me..

But the trading platform I have does not provide RSX..(vt trader.)
Markets are not Random, they are designed!
  • #185,668
  • Jul 23, 2009 2:50pm Jul 23, 2009 2:50pm
Quoting Raza
I have the standard? factory settings.. Period 14.. in all time frames..

I draw trendlines on it too.. I have learned this on my own..how to read RSI..

Specially on 15M when it is above 54 reading .. long is good .

Below 52 - 32 short ... Below 30.. usually hard and fast Tanking.. You judge this by making trendlines on it as well... That shows how much more is left.. up or down.

I read a book 2 days ago.. surprisingly IT said the exact same thing.. but it didnot mention other things that I know about RSI.

I wish Iread that 2 years ago.....
Thanks for responding.

I have found a big difference in the lower TF as your book mentioned. As I said 6 for 5min (and 1) and 8 for 15min works nice. In any case there is a difference in what you see doing it that way for sure.

I did try the CCI last year as Lilmoe suggested. didnt work for me either.

Trend lines as well as divergence lines as well. In fact I think trendlines, price action, Fibs, RSI and I use RSX as well are the players you need to watch.

I also use the 30, 50 and 70 lines in a similar fashion as you said. Works great for scalping as well on the lower TF's

And when it comes to forex, you can always learn more to improve your accuracy of execution. I suffered similar fates on previous accounts as well. Some demo, some real. Expensive way to learn but that seems to be more the norm in forex. At first it looks easy, than 4 years later you realize just how much you didnt know, lol.

Good luck with your trades.
  • #185,669
  • Jul 23, 2009 2:51pm Jul 23, 2009 2:51pm
Quoting Raza
I would love to try ..You have mentioned that before this to me..

But the trading server I have does not provide RSX..(vt trader.)
looked on the Jurik site for you ... every platform supported excluding vt trader and mt4
Blogging daily now at www.volume.zone
  • #185,670
  • Jul 23, 2009 2:51pm Jul 23, 2009 2:51pm
Quoting Raza
I draw trendlines on it too.. I have learned this on my own..how to read RSI..

Specially on 15M when it is above 54 reading .. long is good .

Below 52 - 32 short ... Below 30.. usually hard and fast Tanking..
isnt that back to front? surely if its below 50 then price has been moving down for some time and by the time it gets near 30 its oversold and you should be looking for longs instead? thats the classic interpretation of rsi as far as I know
  • #185,671
  • Jul 23, 2009 2:58pm Jul 23, 2009 2:58pm
OK guys keep on pushing down all japan pairs as much as you can for 100 pips below now
ROBOT FOREX
  • #185,672
  • Jul 23, 2009 3:00pm Jul 23, 2009 3:00pm
Quoting gody6000
GBPJPY
that's the most pleasant line I've seen today from charts
ROBOT FOREX
  • #185,673
  • Jul 23, 2009 3:01pm Jul 23, 2009 3:01pm
Quoting ewokuk
isnt that back to front? surely if its below 50 then price has been moving down for some time and by the time it gets near 30 its oversold and you should be looking for longs instead? thats the classic interpretation of rsi as far as I know

Ofcourse you sell from Overbought levels. and buy from Over sold.

But then you get Hidden divergences.. Those 54.. 30 levels are for that..

Not for going long or short.. Just observe it.. for a while How it reacts with price .. you will understand it better.

Look at the price .. visually .. then look at the Rsi.. if it went up from that price level.. then see Rsi when price came down.. if Rsi came down below the previous level where it started to go up... and the price didnot come down that much... You have hidden Bullish Divergence..

For example look at the Current chart rsi and price on 15M.. when price was at 155.45.. and look at the Rsi level where it is now... this is another hidden bullish divergence.. but I dont think it will have the same results as the last one..

This might be a little confusing... but give it some thought..

RSI is doing exactly as what I SAID THIS TIME IT IS BELOW 50 LEVEL.. nO HIDDEN BULLISH DIVERGENCE THIS TIME.. IT WILL BE BEARISH HIDDEN.. FOR NOW.
Markets are not Random, they are designed!
  • #185,674
  • Jul 23, 2009 3:13pm Jul 23, 2009 3:13pm
yeh i can see the divergence. maybe i should identify trades on 15 first then look at 5 for entry. i have been identifying and entering based on 5 (i do still look higher but dont actually identify trades on it). im flapping about all over the place at the moment.

there was hidden bullish between 10:30gmt and 13:00gmt double bottom
  • #185,675
  • Jul 23, 2009 3:17pm Jul 23, 2009 3:17pm
Quoting ewokuk
yeh i can see the divergence. maybe i should identify trades on 15 first then look at 5 for entry. i have been identifying and entering based on 5 (i do still look higher but dont actually identify trades on it)
I used to use 5M not any more.. its too overwhelming..

15m IS THE LOWEST i GO.. 1 HR is good to see candle stick info.. for reversal.. short term.. have them open side by side.. if you have more monitors.. I have few.so.. try and improve your trading..and advise me too as well If I missed something.. it will be great help... other wise I am all alone here with RSI....

Thanks.
Markets are not Random, they are designed!
  • #185,676
  • Jul 23, 2009 3:18pm Jul 23, 2009 3:18pm
Quoting bluemax
Raza, Question for you on RSI. I swear by it myself. Great for divergence indentification.

When you observe different TF's do you adjust your RSI parameter for different TF's, or do you leave at , say, 10 for everything?

Ive set up a window for each of the following on G/Y for exampple 5min, 15min, 1hr and 4 hr using RSI numbers of 6,8,10 and 12 respectively.

Just curious how you view this thought.

Thanks for all your input here too. Im clearly not a big poster but read alot.

everyone with what he or she use...dont try my macd on divergence and convergence u wanna give it a try?
MY OPINION NOT FINANCIAL ADVISE
  • #185,677
  • Jul 23, 2009 3:20pm Jul 23, 2009 3:20pm
nice going south, continue till level 156 during next 1 hour
ROBOT FOREX
  • #185,678
  • Jul 23, 2009 3:21pm Jul 23, 2009 3:21pm
for the
(The Milky Bar Kid) ppl or whos using this topic lol am not sure if the lovely better volume has repaint with this price action or still giving 158.50 as signal

omg Mr better volume maybe its better if u follow the trend if u dont have a girl friend
  • #185,679
  • Jul 23, 2009 3:24pm Jul 23, 2009 3:24pm
Quoting warta
for the
(The Milky Bar Kid) ppl or whos using this topic lol am not sure if the lovely better volume has repaint with this price action or still giving 158.50 as signal

omg Mr better volume maybe its better if u follow the trend if u dont have a girl friend
OK man like you said and I keep on push down till my requested level and don't listen others
thanks in advance
ROBOT FOREX
  • #185,680
  • Jul 23, 2009 3:25pm Jul 23, 2009 3:25pm
anyway we may bounce again up but its not the end
good luck bears
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