weekly chart. doesn't quite seem bearish to me, does it?

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

thanks. now here's more from the wonderful world of candlesticks: what we actually saw on the weekly chart was a piercing pattern. unconfirmed (guess what the confirmation would have been... of course, a weekly CLOSE above 234.43 which we didn't ...

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

not a hammer either. a hammer occurs at the bottom of a downtrend... if either of you would have read nison's book... these patterns only have a value when they appear at the (presumable) end of a specific move. so, to call it a hammer, we should ...

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

i also favor a bearish move on the long term. but before that... i have a couple of comments for the weekly chart: 1. the weekly candle you are talking about is NOT a hanging man (although it looks exactly like one), just because it is not on top of ...

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

persona non grata means "unwelcome person". (latin)

Cable Update (GBPUSD)

i'm already long... more than 100 pips.

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

i said, IF i see a reversal pattern (candlesticks, oscillators oversold... ). why long? because i think that this last drop is a corrective, not an impulsive wave. as for the next target, wait until this fall ends and then put a fibo on your h1 ...

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

waiting for another long entry. h1 retracement will probably end around 232.43/232.10 (0.707/0.786), so i'll be there watching to jump into another long. if i see a reversal pattern, of course.

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

let's see... long @ 233.86 or short @ 232.65.

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

bar closed. not there yet. but 233.27 is right around the corner.

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

here's why on this h1 chart: - h1 retracement at 0.786 - reverse divergence on rsi, osma (while in a downtrend, and while price is below 65sma) from overbought dinner is served. if you're long, i guess you're paying.

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

nice. except that that's not a butterfly. not a classical one, at least.

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

if you don't understand why, here's the explanation: h1 charts are always faster than h4, so when you see a long configuration on h4 (in your case, qqe crosses up and candle closes above tft) you ALREADY have this on h1 for quite some time ...

Auslanco-GBP/JPY Strength Indicator strategy

look at current configuration, there might be a chance to go short again: - h4 qqe already crossed down, so that's a sell signal; - now you're waiting for a sell entry: h1 qqe should cross down AND price must go below TFT line. if these don't ...

Auslanco-GBP/JPY Strength Indicator strategy

i'm going short again when i see a candlestick reversal pattern at any of these levels: 232.50 232.80 233.09 p.s. forgot to mention: i'm watching 15 min chart.

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

i don't base any trading decision on a close below/above whatever MA.

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

read the rule for opening a long position (i think it's first post of this thread): "1hr charts: you only enter @ the point of the strength indicator cross over the 50 line upwards." from what i see on the carts you posted, SI on h1 was above 50 ...

Auslanco-GBP/JPY Strength Indicator strategy

just curious, what's that QQE second dotted red line for?

Auslanco-GBP/JPY Strength Indicator strategy

i would go lower with tp. but it's easier and wiser to follow the trend than making predictions.

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

might not be a good idea anytime soon. if you look at the daily chart there is a reverse divergence pattern. since majors fibo retracements have been reached (0.5 from 251.08 and 0.618 from 244.04) i expect AT LEAST a ranging period if not another ...

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