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-   -   GBP/JPY for QQE Traders! (https://www.forexfactory.com/showthread.php?t=63831)

Nobitacu Feb 21, 2008 7:17pm | Post# 1901

Hello everyone,

Ready for yet another day in this crazy market??? Let's all make some pips tonight.

ultimate Feb 21, 2008 7:18pm | Post# 1902

I know I am new to this thread, but I have been watching it (lurking) for a while. I am looking for some thoughts on the items below and for tonight.

The pair completed its 50% re-trace today and seems poised to bounce up.
Since 2/14, the pair has moved in a tightening horizontal channel.
Daily is working on a series of lower highs and as resistance has been cleared, then on the re-test, support has held. (for the most part)
Good Euro zone/ GBP news this morning, followed by weak USD today.
Stock market was well down and is expected to go lower.
Typically, the Nikkei follows a US market decline with one of its own.
Eur and Gbp both up solidly against the Usd today clearing what has been pretty strong resistance.
An easy argument can be made for a bounce back to 211 area with a test of 213, or for a move down back to 208.80 area before another move up.
Neither GBP or JPY wants to be particularly strong, as that increases inflationary pressures.
So what is a trader to do???
I am sure I missed some other key items, but that is plenty to digest.
Flip a coin?

h4udear Feb 21, 2008 7:27pm | Post# 1903

hey Nobitasu .
I wana be in the same boat with u .. i just got back from this beautiful city Dubai .. I wana concentrate on pips now so lets rock

Pips_Cruiser Feb 21, 2008 7:29pm | Post# 1904

I know I am new to this thread, but I have been watching it (lurking) for a while. I am looking for some thoughts on the items below and for tonight.

The pair completed its 50% re-trace today and seems poised to bounce up.
Since 2/14, the pair has moved in a tightening horizontal channel.
Daily is working on a series of lower highs and as resistance has been cleared, then on the re-test, support has held. (for the most part)
Good Euro zone/ GBP news this morning, followed by weak USD today.
Stock market was well down and is expected to go lower.
Typically, the Nikkei follows a US market decline with one of its own.
Eur and Gbp both up solidly against the Usd today clearing what has been pretty strong resistance.
An easy argument can be made for a bounce back to 211 area with a test of 213, or for a move down back to 208.80 area before another move up.
Neither GBP or JPY wants to be particularly strong, as that increases inflationary pressures.
So what is a trader to do???
I am sure I missed some other key items, but that is plenty to digest.
Believe it or not, it's often better to NOT expect a particular direction. Then your mind is clear of preconceptions, you don't have any half baked trades, and you can trade according to what price actually does.

For today, I would advise scalping the ups and downs as they actually occur. Especially during early Asian session, don't expect any "breakouts" from the previous day's high / low. If we get any of those, it will be just before or during London session.

Like they say, "trade what you see, not what you think".


Nobitacu Feb 21, 2008 8:53pm | Post# 1905

hey Nobitasu .
I wana be in the same boat with u .. i just got back from this beautiful city Dubai .. I wana concentrate on pips now so lets rock
Sounds good to me, hopefully one day I'll be able to visit Dubai as well. ^^
Now, on with the pips!

Nobitacu Feb 21, 2008 8:54pm | Post# 1906

Believe it or not, it's often better to NOT expect a particular direction. Then your mind is clear of preconceptions, you don't have any half baked trades, and you can trade according to what price actually does.

For today, I would advise scalping the ups and downs as they actually occur. Especially during early Asian session, don't expect any "breakouts" from the previous day's high / low. If we get any of those, it will be just before or during London session.

Like they say, "trade what you see, not what you think".

Scalping is pretty much all I do nowadays haha. 50 pips here, 60 pips there... It's all good. ^^

PipAV8tor Feb 21, 2008 11:06pm | Post# 1907

Anybody see this
 
Just had an IB on the hr., to go with the IB on the 4 hr (that is now 2 hrs old)
Anyone getting a feeling on a direction?
I am not long or short, just watching a this point...

Nobitacu Feb 22, 2008 12:48am | Post# 1908

Nothing confirmed yet for me. Still waiting for a trade to happen for me.

fx_lane Feb 22, 2008 2:42am | Post# 1909

hey karmo. how are you? I made nice pips yesterday but I was trading based on the 4h chat when it retraced I was in the trade didn't loose all I made yesterday but Iost a 1/3 of it. now my 1h looks like it's consolidating. can't say anything about my 4h though. how about yours karmo?

Nobitacu Feb 22, 2008 4:06am | Post# 1910

Gees... Friday really sucks when it comes to trading... up, down, up, down... damn these swings, can't get any good confirmation of a direction.

morton82 Feb 22, 2008 4:08am | Post# 1911

Exactly, i keep telling myself not to trade on friday but cant help it.

Lost all the $$$ gained whole week plus loss in this one single day....

Sighhhhh

Nobitacu Feb 22, 2008 4:14am | Post# 1912

Exactly, i keep telling myself not to trade on friday but cant help it.

Lost all the $$$ gained whole week plus loss in this one single day....

Sighhhhh
Ouch... Yea... I usually don't trade Friday's as well since my largest loses has always happened on a Friday. I'm going to think that over again after today's over... I still haven't been able to get one single trade confirmed yet since mid Tokyo Session.

Nobitacu Feb 22, 2008 5:38am | Post# 1913

Watched the chart for ten and a half hours today, not one single trade confirmed. At least I know the filtering method I use works great on filtering out many bad trades today, saved me hundreds of pips. One thing for sure, no way I will ever trade another Friday again, unless I know another method that would work well with these small swings... Hmmm... M5 single chart strategy... Nite everyone...

fx_lane Feb 22, 2008 5:42am | Post# 1914

Exactly, i keep telling myself not to trade on friday but cant help it.

Lost all the $$$ gained whole week plus loss in this one single day....

Sighhhhh
ouch sorry morton. I think it's 'cause there's nothing to boost momentum. no news and it's friday traders like to close their pos to avoid unknown during the weekend

kermut Feb 22, 2008 6:40am | Post# 1915

@ sith
 
1 Attachment(s)
Here u go sith.
###QQE_Alert_MTF_v5###.ex4

Sith Lord Feb 22, 2008 10:22pm | Post# 1916

Indicators
 
6 Attachment(s)
Kermut, these may help too. I will add into post #1 for the general public.
###Gann_HiLo_Activator###.ex4
###Gann_HiLo_Activator_v2###.ex4
###Momentum###.ex4
###QQE_Alert_MTF_v3###.ex4
###QQE_Alert_MTF_v4###.ex4
###QQE_Alert_MTF_v5###.ex4

Sith Lord Feb 22, 2008 10:25pm | Post# 1917

More indicators
 
5 Attachment(s)
A few more for you to test. Good luck....hope this helps.
Momentum-ZL.mq4
MT4-LevelStop-Reverse-vB0-3.mq4
QQE.mq4
Quantitative Qualitative Estimation.mq4
SSL.mq4

piksy Feb 23, 2008 3:08pm | Post# 1918

Kujo 5min scalping
 
Is there anyone using Kujo's 5min scalping system?

Nobitacu Feb 24, 2008 4:36am | Post# 1919

Is there anyone using Kujo's 5min scalping system?
I'm not, but Sith has one which I will be testing it out with him next week. You should try it out as well, it's already been posted by him on how to use it in this thread, few pages back. DEMO test it.

kujo17 Feb 24, 2008 3:45pm | Post# 1920

Is there anyone using Kujo's 5min scalping system?
Judging by the amount of PMs I get thanking me for making traders more pfrofitable, I'd say yes.

But, trade you're own style.
Devise what works best.

My style has changed alot.

I use my basic strategy that everyone else has been using, but I use Fibs and S/R lines as basis for enter/exits points, as well as the basic overall strategy.

I just got back after a few days of unexpected family issues.

I'll post some charts and thoughts in a bit, just before Tokyo open.

Hope all had a good week last week.

Happy Pip Hunting this weeek.


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