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GBP/JPY for QQE Traders!

  • #221
  • Jan 14, 2008 1:27am Jan 14, 2008 1:27am
Looks like a retrace to 1hr 5 sma coming up. I guess a few will be looking to get in then. Usually London will retrace any new highs or lows by Frankfurt so I think there may be a few orders waiting for the London open before going short.

John
  • #222
  • Jan 14, 2008 1:29am Jan 14, 2008 1:29am
Hi Sith! Hope you had a great weekend!

We might get a confirmed bearish 1H and 4H later on. If we can get a close below last week's low, also, that could bring some nice pips. Let's see how things play out . . .

  • #223
  • Jan 14, 2008 2:01am Jan 14, 2008 2:01am
good point.

We need a QQE5 Cross down once it hits 50%. Retracement is still below 50% for QQE5 1H. No entry signal yet.


Quoting Pips_Cruiser
Hi Sith! Hope you had a great weekend!

We might get a confirmed bearish 1H and 4H later on. If we can get a close below last week's low, also, that could bring some nice pips. Let's see how things play out . . .

  • #224
  • Jan 14, 2008 2:18am Jan 14, 2008 2:18am
Looks like your ATR 28*2.75 provided a very good entry price.

Where was your QQE5 15M when you took the signal ? Was it above 50% ? Thanks.

Quoting mjolimer
15m short set up triggered for me. I've taken it @ 212.80 with a T1 of the support 1 line at 211.72. Stop 213.40. I guess the next target might be the s2 line?

John
  • #225
  • Jan 14, 2008 2:51am Jan 14, 2008 2:51am
London session daily pivot is 212.78, and S1 is 211.55.
  • #226
  • Jan 14, 2008 2:59am Jan 14, 2008 2:59am
Attached is the 15M chart. You can see the QQE5 cross (dot) and Sell Arrow at 212.92 for entry trigger.

This trade is below 1H 100sma, daily pivot and daily 5sma. A nice trade !

This trade sell arrow is set at ATR 28*2.75. My old version of ATR 14*3 would have given an entry around 213.60. I think it is best to use Aus' latest settings for maximum entry opportunity.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy14_jan.JPG Size: 198 KB
  • #227
  • Jan 14, 2008 4:09am Jan 14, 2008 4:09am
Quoting Pips_Cruiser
There's some pretty weird stuff going on right now. The dollar seems to be taking a beating against most (or all) currencies. No scheduled news caused it as far as I can tell, but perhaps there was some unscheduled news.
You are right, PipsC! My tool shows what's going on precisely.

PS. Time on X axis is UTC+1
Attached Image (click to enlarge)
Click to Enlarge Name: CurrTrending20080140utc0956.jpg Size: 176 KB
  • #228
  • Jan 14, 2008 4:57am Jan 14, 2008 4:57am
Quoting Pips_Cruiser
I noticed it started doing this with the latest version of VT. It is annoying, and I haven't figured out the best way to deal with it. But it seems to help a little if you click on the candle you're inspecting.
Hi...did you ever try this 15M trade on G/U?...just asking
  • #229
  • Jan 14, 2008 5:05am Jan 14, 2008 5:05am
Quoting ammaramani
Hi...did you ever try this 15M trade on G/U?...just asking
I personally think the indicators work best on the g/j because of the fact that the moves are bigger and hence everything is "amplified"

I use the g/j moves as an indicator for the e/j too. I will tend to take the with trend trades on the g/j and try and countertrade / scalp on the way back on the e/j... (my spread is 3 on e/j and 8 on g/j)

john
  • #230
  • Edited 5:19am Jan 14, 2008 5:14am | Edited 5:19am
Attached is a 1H chart for another learning opportunity.

Strict 1H entry rules is to enter on the QQE5 1H cross down (bear) once QQE reaches 50%. As you can see from the chart QQE never retraced to 50%, however QQE5 did cross down again for a good 100 pip move. This tip is for aggressive traders when 4H is bearish and 15M strategy is already triggered.

This trade looks good with 1H momentum down. This would have been a good twin brother entry also (QQE5 15M and QQE5 1H moving in the same direction). Sorry I didn't pick up the trigger for early entry setup.

Would anyone have taken this trade?

Hope you guys don't mind me posting - it just reinforcing live (albeit 2hours old) trades.

Quoting Sith Lord
1H/ 4H Strategy Update

Current Price is 212.67 at 6.29am London Time

QQE5 4H = Bears (crossed down). Bears on GannHiLo 213.60.
QQE5 1H = Bulls (crossed up but below 50%). Bears on GannHiLo 213.20

4H Candle has closed at 212.65


Trade setup – 1H QQE has crossed up but has not reached 50% for full retracement. Best entry is to wait for 1H QQE to cross up to 50% (bullish) and then turn cross back down pass 50% (bearish) for entry SHORT. I think we may see a trade today !
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy14_jan.JPG Size: 210 KB
  • #231
  • Jan 14, 2008 5:23am Jan 14, 2008 5:23am
mjolimer, are you still in your short trade from 212.80 ?
  • #232
  • Jan 14, 2008 5:24am Jan 14, 2008 5:24am
Hi BigZ ! What does the chart mean for gbp/jpy?

How is your short trade going from 215ish?

Quoting BigZbig111
You are right, PipsC! My tool shows what's going on precisely.

PS. Time on X axis is UTC+1
  • #233
  • Jan 14, 2008 5:30am Jan 14, 2008 5:30am
Quoting Sith Lord
mjolimer, are you still in your short trade from 212.80 ?
no. i sold it out when it started hit the S1 line.

I'm waiting for a retrace now to get back in. I feel very uncomfortable going short from a low point until it has retraced.. what about you sith? do you have a trade at the moment?

John
  • #234
  • Edited 6:00am Jan 14, 2008 5:44am | Edited 6:00am
Current price is 210.92

I was waiting for the 1H/4H strategy setup for short at 50%, so no trades tonight.

If price stays above 210.68 (1.27 fib extension) and QQE5 15M and QQE5 1H cross up (bulls) and price reaches 211.70 - 211.90 (buy arrow) i think there could be a good entry price for retracement LONGS for TWINS trade. I have to wait for QQE signals to take me in the ride.

It is nearly 11pm here in Syd so don't know how much longer I can stay up.

Quoting mjolimer
no. i sold it out when it started hit the S1 line.

I'm waiting for a retrace now to get back in. I feel very uncomfortable going short from a low point until it has retraced.. what about you sith? do you have a trade at the moment?

John
  • #235
  • Jan 14, 2008 5:48am Jan 14, 2008 5:48am
well done on the green pips !

Quoting mjolimer
no. i sold it out when it started hit the S1 line.

John
  • #236
  • Jan 14, 2008 6:14am Jan 14, 2008 6:14am
Quoting Sith Lord
Hi BigZ ! What does the chart mean for gbp/jpy?

How is your short trade going from 215ish?
Hi SL;
my tool shows pressure on buying/selling among 8 major curr for last few hours; watching specific A/B pair going e.g. north one cannot say if A is getting stronger or B getting weaker; my tool shows it - measures a strenght of specific currency to other 7 major currencies;
in fact - tool shows REAL currency trend
- JPY is being strongly bought since 07:30 UTC,
- USD and GBP are being strongly sold since 06:00 UTC

I closed my gj short friday afternoon - I do not like leaving open positions for a weekend; however few green pips have been added to my acc;
cheers,
zj
  • #237
  • Jan 14, 2008 6:20am Jan 14, 2008 6:20am
Current price is 210.88

From my weekly charts:
Live trade. I'm LONG 210.79. Stop 210.55. Target 215.96
Reason: fibonacci extension 1.27 price of 210.67
  • #238
  • Jan 14, 2008 6:37am Jan 14, 2008 6:37am
Current price is 211.19

I've moved my stop to 210.80 for a "free trade". Good night all.

Quoting Sith Lord
Current price is 210.88

From my weekly charts:
Live trade. I'm LONG 210.79. Stop 210.55. Target 215.96
Reason: fibonacci extension 1.27 price of 210.67
  • #239
  • Jan 14, 2008 9:23am Jan 14, 2008 9:23am
Quoting Sith Lord
Attached is the price breaking of 4HR Gann HiLo.

If you look at 1HR charts QQE5 has already crossed 50. Aggressive traders would look to get in around 215.50. Otherwise there could be pull back at London opening. I'm waiting at the moment.

ps. thanks for chart tips !
Ouch, you have 10 Indicators there that I have counted, how can you trade that?
btw 80% of your indicators are telling the same thing, why are you doing that?
Logic will get you from A to B. Imagination will take you everywhere.
  • #240
  • Edited 1:01pm Jan 14, 2008 11:26am | Edited 1:01pm
It looks like the Twin Brothers strategy might be in effect. Let me know if you agree. This strategy hasn't been properly tested yet, so it's recommended you only try it on demo.

http://www.forexfactory.com/showpost...&postcount=197

The 15M and 1H QQE5's are both bullish and above the Gann. We also have an up arrow on the 15M, and price is above the 1H 5sma. 1H Momentum is under zero (barely), so a TP of about 50 pips is expected. If it was above zero we might expect 75.

We're getting a little retrace right now, so that might improve the entry. Let's see how things go . . .

Attached Image (click to enlarge)
Click to Enlarge Name: twins.jpg Size: 357 KB
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