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GBP/JPY for QQE Traders!

  • #481
  • Jan 22, 2008 3:04am Jan 22, 2008 3:04am
Here's a good article:

http://www.actionforex.com/fundament...2008012235388/
  • #482
  • Jan 22, 2008 3:14am Jan 22, 2008 3:14am
I've got 208.06 - 208.32 Resistance on my charts. Lets see if Sellers come in.
  • #483
  • Jan 22, 2008 3:15am Jan 22, 2008 3:15am
Quoting Sith Lord
I've got 208.06 - 208.32 Resistance on my charts. Lets see if Sellers come in.
I have R1 at 208.04
Stopped the push up and heading downa bit now....
so much for sleep........
  • #484
  • Jan 22, 2008 3:30am Jan 22, 2008 3:30am
So far, it keeps running into support when it retraces back to 207.
  • #485
  • Jan 22, 2008 3:34am Jan 22, 2008 3:34am
it bounced off the weekly M2 and is hanging around the 200ema on the 15 minute chart. May be going into some consolidation after the rapid jump.
  • #486
  • Jan 22, 2008 4:16am Jan 22, 2008 4:16am
I wonder if this will turn out to be one of those times when I should trade what I see, not what I think. I keep thinking we'll retrace back down. But the QQE's are screaming "UP" and price can't make it below 206.99.

We seem to be roughly following this fib cycle. Maybe I should go long to 208.25, with a SL of 206.95. Hmm . . .
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  • #487
  • Jan 22, 2008 5:21am Jan 22, 2008 5:21am
This morning.. (UK time before the London open)... I jumped into a short trade based on the 5minute strategy.

I had promised myself not to do it again, but wait for the 15min.

But i did.

However, I remembered just in time and although it all looked like it was going in the right direction, i got rid of the order for a small gain and decided to wait for the confirmation on the 15 min.

It looked like it was going to confirm.. it had crossed down.. but then at the last minute it crossed back and I had to wait for the next cross...

It never came.

I'm going to stick to the system. I know it gets the trade in later than some of the other guys who seem to be making loads of money, but it means i don't have to think too much about what I THINK is going to happen.

Phew.

John
  • #488
  • Jan 22, 2008 5:40am Jan 22, 2008 5:40am
208.43 is my res.but mann..sure this market is crazy ..geez already giving back to the market many pips.trading is an amazing thing.

Quoting Sith Lord
I've got 208.06 - 208.32 Resistance on my charts. Lets see if Sellers come in.
  • #489
  • Jan 22, 2008 8:54am Jan 22, 2008 8:54am
Quoting mjolimer

Phew.
Nice escape !
  • #490
  • Jan 22, 2008 11:23am Jan 22, 2008 11:23am
unreal........
never go to bed and always win..... just need to figure out how to live on no sleep.... ;-)

ahhhhh Fed rate cut while sleeping..... damn.

my good profits from yesterday neutraled out.

Oh well. start over today and make em back.

Hope all are well.
  • #491
  • Jan 22, 2008 1:59pm Jan 22, 2008 1:59pm
Hi Pips Cruiser ! This was an excellent call 3 hours before the Fed made their "surprise" annoucement. Hope you got in Long. Price still hasn't gone below 206.99 as you have observed.


Quoting Pips_Cruiser
I wonder if this will turn out to be one of those times when I should trade what I see, not what I think. I keep thinking we'll retrace back down. But the QQE's are screaming "UP" and price can't make it below 206.99.

We seem to be roughly following this fib cycle. Maybe I should go long to 208.25, with a SL of 206.95. Hmm . . .
  • #492
  • Jan 22, 2008 2:03pm Jan 22, 2008 2:03pm
If you draw a trend line from 204.72 (yesterday's low) to 207.42 you will notice that price is breaking the line - which is suggesting we are starting to enter a bear zone.
  • #493
  • Jan 22, 2008 3:54pm Jan 22, 2008 3:54pm
Quoting mjolimer
This morning.. (UK time before the London open)... I jumped into a short trade based on the 5minute strategy.

I had promised myself not to do it again, but wait for the 15min.

But i did.

However, I remembered just in time and although it all looked like it was going in the right direction, i got rid of the order for a small gain and decided to wait for the confirmation on the 15 min.

It looked like it was going to confirm.. it had crossed down.. but then at the last minute it crossed back and I had to wait for the next cross...

It never came.

I'm going to stick to the system. I know it gets the trade in later than some of the other guys who seem to be making loads of money, but it means i don't have to think too much about what I THINK is going to happen.

Phew.

John
I admire your approach. It's a man made system, so it's not perfect. But if you take the trades that present themselves, use proper money management, and don't give up, it will give you the edge you need to succeed.

http://www.forexfactory.com/showthread.php?t=3156

  • #494
  • Jan 22, 2008 4:14pm Jan 22, 2008 4:14pm
As Sith correctly pointed out, price seems to be sagging below the short term upward trend line. The QQE5 and QQE60 have turned bearish. Price seems to be caught below the Daily 5sma and the 1hr 100sma.

Price is still well above the NY session daily pivot, however, so there is no short trade signal. Let's see how things develop as the market settles down. It has been a disruptive 24 hours. We'll have a new pivot point in a couple hours, and this will help define things for Asian session.
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  • #495
  • Jan 22, 2008 5:59pm Jan 22, 2008 5:59pm
Disruptive is right.
Was up $1100, wen to bed, woke up 4 hours later to -$1200.......
That IS disruptive.

HUGE mistake on my part. Lesson learned.

I was using the 15M strat the last two days, as my 5M strat need help when it's so rangey.
Gets you into good trades earlier, but also gets you into some SL'd trades more on days like this/that.

Hope all are well. Japan opens in 1 min....... Lets Go Yen !!!!!

Down Geppy Down.......
  • #496
  • Jan 22, 2008 6:09pm Jan 22, 2008 6:09pm
Don't feel bad buddy, I think it got quite a few folks, me included!
But like you said, you have a strategy that works, just need to implement a stop loss, We'll make it back up.
  • #497
  • Jan 22, 2008 7:02pm Jan 22, 2008 7:02pm
I'm targeting 211.80 - 212.10 area. How do you guys use the momentums ? I've read auslanco's tutorial and back tested it but never got any satisfying results out of the momentum (generally daily analysis).
  • #498
  • Jan 22, 2008 10:15pm Jan 22, 2008 10:15pm
We have 15 min short signal here. Current price 207.99.
  • #499
  • Jan 23, 2008 12:26am Jan 23, 2008 12:26am
Current price is 208.43

1H 100sma = 208.67
Daily 5sma = 208.90ish
Asian Session Pivot = 208.13

Price is currently sitting in the "wait and see" price range of 208.00 - 209.00. QQE5 15M is crossed up (bullish); QQE60 15M is crossed down (bearish).

News is out in 3 hours. I'll wait for London session pivot to establish position bias.
  • #500
  • Jan 23, 2008 12:59am Jan 23, 2008 12:59am
Quoting Sith Lord
Current price is 208.43

1H 100sma = 208.67
Daily 5sma = 208.90ish
Asian Session Pivot = 208.13

Price is currently sitting in the "wait and see" price range of 208.00 - 209.00. QQE5 15M is crossed up (bullish); QQE60 15M is crossed down (bearish).

News is out in 3 hours. I'll wait for London session pivot to establish position bias.
hi Sith, so your saying you'd go short if price is below 208 and what else..a 15min qq5 crossdown? and what about upwards, above 1hr 100sma up arrow and the rest o f the indicators and above 209 offcourse...
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