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GBP/JPY for QQE Traders!

  • #421
  • Jan 21, 2008 1:32am Jan 21, 2008 1:32am
Thanks Pips, I shall now ascend to the next level I hope...

The Beggar
  • #422
  • Jan 21, 2008 2:13am Jan 21, 2008 2:13am
Here's a one hour GJ chart. From the looks of it, this is the fib cycle we've been following today. Notice how price mostly bounced between the 62 and 76 fibs during Asian session. Then when it broke through the 76 fib is darted down to 100. If we get an hourly close below 206.99, the next logical fib target is 205.73. After that 204.95. There's no way of knowing this will happen today. But negative fundamental news would improve the odds, and positive would at least delay it.
Attached Image (click to enlarge)
Click to Enlarge Name: hourly_fibs.jpg Size: 135 KB
  • #423
  • Jan 21, 2008 2:19am Jan 21, 2008 2:19am
I like the numbers Pips C ! Your 3 Bear Amigoes are looking very strong !

Quoting Pips_Cruiser
If we get an hourly close below 206.99, the next logical fib target is 205.73. After that 204.95. There's no way of knowing this will happen today. But negative fundamental news would improve the odds, and positive would at least delay it.
  • #424
  • Jan 21, 2008 2:27am Jan 21, 2008 2:27am
Quoting Sith Lord
I like the numbers Pips C ! Your 3 Bear Amigoes are looking very strong !
LOL. Those guys are having fun again today . . .
  • #425
  • Jan 21, 2008 2:53am Jan 21, 2008 2:53am
Attached is a 1H chart. I have been "testing" some QQE settings on this TF and changed Aus' alert to "1" with stop loss 0.003 (this is the green QQE line).

You will notice that even in our "ranging" in the past few trading days that the QQE1 1H gave a "bearish bias" and if you entered on the QQE5 1H cross down (bear) there was some nice pip moves. I have started to look at this QQE1 / QQE5 on the 60M charts as and added confirmation for the 15M Strategy during ranging - please feel free to test.

I will try and post a setup when QQE1 1H (green line) crosses up (bull). Let's test to see if this is an early indicator direction during ranging. Let me know your thoughts on those who wish to test out.
Attached Image
  • #426
  • Jan 21, 2008 3:01am Jan 21, 2008 3:01am
Quoting Sith Lord
Attached is a 1H chart. I have been "testing" some QQE settings on this TF and changed Aus' alert to "1" with stop loss 0.003 (this is the green QQE line).

You will notice that even in our "ranging" in the past few trading days that the QQE1 1H gave a "bearish bias" and if you entered on the QQE5 1H cross down (bear) there was some nice pip moves. I have started to look at this QQE1 / QQE5 on the 60M charts as and added confirmation for the 15M Strategy during ranging - please feel free to test.

I will try and post a setup when QQE1 1H (green line) crosses up (bull). Let's test to see if this is an early indicator direction during ranging. Let me know your thoughts on those who wish to test out.
We could use some help with ranging days. Let's see how it works out. Hopefully you're on to something.
  • #427
  • Jan 21, 2008 3:05am Jan 21, 2008 3:05am
Only for ranging days. For trending days Aus 15M Strategy works like fireworks.

Quoting Pips_Cruiser
We could use some help with ranging days. Let's see how it works out. Hopefully you're on to something.
  • #428
  • Jan 21, 2008 3:43am Jan 21, 2008 3:43am
I'm gonna grab the pips and run on this second short. I see mixed news, but mostly on the positive side. I don't think we'll get past the current low. We'll probably get a small retrace instead.

Catch ya later!

  • #429
  • Jan 21, 2008 12:34pm Jan 21, 2008 12:34pm
Mixed signals right now on the 15M chart. 1H and 4H QQE's are still bearish. Price is well below the session daily pivot of 207.65. With NY banks closed, there might not be enough trading volume for another big move, at least until Asian session.

Keep an eye open for a valid short signal later, and a possible dip in price to the mid 204's. I see 2 fib cycles waiting to hit the next level down. Let's not miss the ride, if the opportunity presents itself.

Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1hour.jpg Size: 229 KB
Click to Enlarge Name: 4hour.jpg Size: 207 KB
  • #430
  • Jan 21, 2008 12:39pm Jan 21, 2008 12:39pm
So from what I read, there might be a way to use Aus' system on ranging days...nice! However, there is no QQE60 indicator on your graph attached, is is just for testing purposes?
I haven't traded for 1 1/2 months (midterms) so I have to catch up with the new threads, sorry about that!
  • #431
  • Jan 21, 2008 12:43pm Jan 21, 2008 12:43pm
My message was referring to Sith Lord's graph of course...
  • #432
  • Jan 21, 2008 2:06pm Jan 21, 2008 2:06pm
Hi Michi, the chart I attached was 1H. I only use the QQE60 on the 15M as per Aus rules.

Just wanted to highlight QQE1 whenever QQE5 (on 1H) zig zags up and down during ranging sessions. I'll keep an eye on it.

Quoting Michi
However, there is no QQE60 indicator on your graph attached, is is just for testing purposes?
  • #433
  • Jan 21, 2008 2:10pm Jan 21, 2008 2:10pm
Thanks Pips Cruiser ! I've got 204.43 as my first bus station to get off.
See you all at the beginning of London.

Quoting Pips_Cruiser
Keep an eye open for a valid short signal later, and a possible dip in price to the mid 204's. I see 2 fib cycles waiting to hit the next level down. Let's not miss the ride, if the opportunity presents itself.

  • #434
  • Jan 21, 2008 4:29pm Jan 21, 2008 4:29pm
Quoting Sith Lord
Thanks Pips Cruiser ! I've got 204.43 as my first bus station to get off.
See you all at the beginning of London.
yup.... nice number. See you at the Greyhound station ! ;-)
  • #435
  • Jan 21, 2008 6:00pm Jan 21, 2008 6:00pm
Another question for you guys regarding Auslanco's system: if the QQE60 crosses down signaling a bearish trend while the QQE5 is below 50 but has been below 50 for a long time already: do we take that as a confirmation signal, or do we have to look at a cross down the 50 level for the QQE5 a short period before the cross down of the QQE60?
For instance: QQE5 on G.Y. has been below 50 for many hours now: do I consider this indicator as "useful" and therefore just looking at the QQE60 now to cross down (in addition to all the other indicators)?
Hope you got the question,
Cheers
  • #436
  • Jan 21, 2008 7:00pm Jan 21, 2008 7:00pm
Michi, in my opinion there is no way to know if the market will continue or retrace. I don't try to predict. You can get in with a shorter stop and see if it continues, or you can wait until the qqe5 turns or crosses up and enter when it turns back down for as long as the qqe60 pointing down. The latter my be safer since the price as already broken through every session's support levels without much of a recoil..

The Beggar.
  • #437
  • Jan 21, 2008 8:26pm Jan 21, 2008 8:26pm
Current price is 206.49

The market has provided a nice 170 pip retracement (from 204.92 to 206.70) during the Asian session. 15M charts are still bullish - price is still above 15M 5sma and QQE5 is crossed up over 50%.

Any entry short signals will only trigger around 205.65ish, still along way off (a few hours away). Because price is below 1H 100sma, Daily 5sma and pivot we should only look for short entries on the 15M strategy to trade with the trend. See you all in a few hours.
  • #438
  • Jan 21, 2008 8:33pm Jan 21, 2008 8:33pm
my goodness what a nice little ride......

hope to ride her down to the 204 mark when she's done..... ;-)
  • #439
  • Jan 21, 2008 10:26pm Jan 21, 2008 10:26pm
Agressive traders - there was a sell arrow at 205.95. QQE5 had crossed over on 15M. I have taken the short down and will reassess price around 205.15
  • #440
  • Jan 21, 2008 10:43pm Jan 21, 2008 10:43pm
15M Charts attached. QQE60 on 15M is still bullish - it has not crossed down yet and there is no dot signal for Aus 15M strategy entry.

Current price is 205.57. Price dropped like a rock to 205.21 very quickly. If price does settle above 205.75 we may see a slight move back up (highest pull back i can see is around 206.30); but bias looks bearish at the moment. Wait and watch for entries.
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