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GBP/JPY for QQE Traders!

  • #261
  • Jan 14, 2008 8:49pm Jan 14, 2008 8:49pm
Quoting mjolimer
I woke up and jumped on the 15m sell as well. I got in at 21103.

I put my t1 in at 21038 which is just above my S1 line. More would be nice but i'm a bit concerned that London stocks will go up today following the US gains which were apparently encouraged by good prelim figures from IBM.

Anyway, the trade is going the wrong way at the moment, but I hope it will turn back down soon..

It looks like a fairly risky trade right now. But we're in the 1hr 5sma area, so there's a chance it will move down after this retrace. Let's see how it goes . . .
  • #262
  • Jan 14, 2008 9:00pm Jan 14, 2008 9:00pm
If I wasn't in the trade already, I would probably stay out. I see the 15min QQE5 starting to cross the wrong direction. There's also major GBP news later, and it's not always great having an open trade during that.
  • #263
  • Jan 14, 2008 9:16pm Jan 14, 2008 9:16pm
Quoting Pips_Cruiser
It looks like a fairly risky trade right now. But we're in the 1hr 5sma area, so there's a chance it will move down after this retrace. Let's see how it goes . . .
I'm hoping that inner down trendline can hold, it has survived one test. I think it is a fair trade. Even if it does go wrong then at least it wasn't a "silly" trade.

It's a risky business



John
  • #264
  • Jan 14, 2008 9:29pm Jan 14, 2008 9:29pm
Quoting mjolimer
I'm hoping that inner down trendline can hold, it has survived one test. I think it is a fair trade. Even if it does go wrong then at least it wasn't a "silly" trade.

It's a risky business



John
Good points. I don't see any price disasters yet. Plus we're following our trading guidelines. Technically we shouldn't exit the trade unless the QQE60 crosses up.
  • #265
  • Jan 14, 2008 9:43pm Jan 14, 2008 9:43pm
Quoting Pips_Cruiser
Good points. I don't see any price disasters yet. Plus we're following our trading guidelines. Technically we shouldn't exit the trade unless the QQE60 crosses up.
should able to go s1....
  • #266
  • Edited 10:41pm Jan 14, 2008 9:53pm | Edited 10:41pm
Quoting ammaramani
should able to go s1....
That seems reasonable to me. Might take some patience though.

  • #267
  • Jan 14, 2008 11:53pm Jan 14, 2008 11:53pm
Current Price is 211.08 at 5.50am London Time

News Alert: GBP CPI news due at 9.30am London time

15M Strategy Update:

Price is totally Bearish on 100sma & daily 5sma & daily pivot

• 1H 100sma = 213.44
• Daily 5sma = 214.11
• Daily Pivot = 213.13

QQE Signals:

• QQE5 15M = Bears (crossed down and below 50%).
• QQE60 15M = Bears (crossed down and below 50%)
• Pink Bear Arrow triggered at 211.15 (on ATR 28*2.75). There hasn’t been much momentum in the last 4 hours. Lowest price has reach has been 210.86 (+30pip)

Price needs to be above Daily 5sma 214.11 if you want to go LONG. In the meantime market is on the SHORT side on 15M strategy.

Wait if you are not in a trade – QQE5 is horizontal !!! Price is about to make a decision soon !!!!
  • #268
  • Jan 15, 2008 12:07am Jan 15, 2008 12:07am
Current price is 211.09

Please watch if price moves to 211.35 -211.50. If price moves to this zone I will provide an update.
  • #269
  • Jan 15, 2008 12:34am Jan 15, 2008 12:34am
I,have a question from your Daily 5sma, whats your MA Methode?
Smoothed or Simple?and the price,close,open,high or low?
Thanks and best regards.
  • #270
  • Jan 15, 2008 12:43am Jan 15, 2008 12:43am
5sma usually stands for simple moving average, close.
  • #271
  • Jan 15, 2008 12:45am Jan 15, 2008 12:45am
Hi November !

Simple and close for my 5sma

The 15M strategy says you have a buy entry if price is above Daily5sma or sell entry is price is below Daily5sma.

Aus strategy also adds in the 1H 100sma and Session Daily Pivot as additional price points. Looking at these 3 price points will keep you on the right side of the market and with the trend.

Quoting November
I,have a question from your Daily 5sma, whats your MA Methode?
Smoothed or Simple?and the price,close,open,high or low?
Thanks and best regards.
  • #272
  • Jan 15, 2008 12:49am Jan 15, 2008 12:49am
Hello QQE traders,

glad to find more people suffering with me today. Do you love those ranging times, too?
Man, went up at 4am for a 20pip range. Isn't that awesome

However, I like this method and it brought me 120pip yesterday... Hallelujah!

Did someone tried to apply it to another crosses?

Greetings
42
  • #273
  • Jan 15, 2008 12:50am Jan 15, 2008 12:50am
Quoting November
I,have a question from your Daily 5sma, whats your MA Methode?
Smoothed or Simple?and the price,close,open,high or low?
Thanks and best regards.
It is indeed simple moving average on 5 and 100 periods.

Good luck.

John
  • #274
  • Jan 15, 2008 12:52am Jan 15, 2008 12:52am
Quoting Freewheelin
Hello QQE traders,

glad to find more people suffering with me today. Do you love those ranging times, too?
Man, went up at 4am for a 20pip range. Isn't that awesome

However, I like this method and it brought me 120pip yesterday... Hallelujah!

Did someone tried to apply it to another crosses?

Greetings
I think it works best with gbp/jpy because the moves are relatively larger than on many other pairs. I think this amplifies the readings which may be less defined on other pairs.

If it works on here why bother with the others? Just go large(r)



John
  • #275
  • Jan 15, 2008 12:57am Jan 15, 2008 12:57am
Thanks from the answer,my Daily 5sma is 212.50,its okay?
Best regards
  • #276
  • Jan 15, 2008 1:01am Jan 15, 2008 1:01am
Quoting November
Thanks from the answer,my Daily 5sma is 212.50,its okay?
Best regards
No. Something is wrong the 5sma on the daily gbp/jpy is 213.08
  • #277
  • Jan 15, 2008 1:04am Jan 15, 2008 1:04am
Quoting November
Thanks from the answer,my Daily 5sma is 212.50,its okay?
Best regards
I use FXDD, an mine is at 213.12
42
  • #278
  • Jan 15, 2008 1:09am Jan 15, 2008 1:09am
My Daily r1 is 213.07 ,my Daily 5sma is 212.50!!!!
Best regards
  • #279
  • Jan 15, 2008 1:09am Jan 15, 2008 1:09am
Yep I've got 213.08 also.

Price still hasn't broken 210.67 (1.27 Fib extension).

Quoting mjolimer
No. Something is wrong the 5sma on the daily gbp/jpy is 213.08
  • #280
  • Jan 15, 2008 1:10am Jan 15, 2008 1:10am
My Broker is North Finance.
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