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GBP/JPY for QQE Traders!

  • #581
  • Jan 24, 2008 6:44pm Jan 24, 2008 6:44pm
Quoting Michi
Any commentary about the ADX indicator?
I think this has good potential. I can remember Aus recommending it at one time. Otherwise we just have to look at charts and SMA's to judge whether price is ranging or trending.
  • #582
  • Jan 24, 2008 6:51pm Jan 24, 2008 6:51pm
retrace to 209/208 area probable.
1H is about to cross down and head south.
  • #583
  • Jan 24, 2008 6:53pm Jan 24, 2008 6:53pm
hi PC
what is ur PP for tokyo
thanks
  • #584
  • Jan 24, 2008 6:57pm Jan 24, 2008 6:57pm
Quoting dogbreath
Good call there Pips....any idea what the indicator on MT4 we should be using for the fib calculations like the ones that are showing on your chart?
Hey Dog. Let's see if anyone else can help you with it. I'm not an MT4 user. With VT a fib drawing tool comes with the package. You still have to pick your own top and bottom, but then it draws the retrace fibs from that.
  • #585
  • Jan 24, 2008 7:01pm Jan 24, 2008 7:01pm
Quoting makemerich
hi PC
what is ur PP for tokyo
thanks
Looks like 210.31 for me . . .
Attached Image
  • #586
  • Jan 24, 2008 7:11pm Jan 24, 2008 7:11pm
Quoting Michi
Calculating it?
I guess you cannot... there is no direct relationship between the QQE and the price. It's not because the QQE5 is at 52 or the QQE60 crosses up that the price of the G.Y. is determined. QQE60 can cross up at different level, no matter what the price is.

In my pt of view, you cannot calculate it.
I agree. I think it uses a combination of different RSI's, and it's a complicated calculation. Not something price based, like pivots or moving averages.
  • #587
  • Jan 24, 2008 7:14pm Jan 24, 2008 7:14pm
Quoting kujo17
retrace to 209/208 area probable.
1H is about to cross down and head south.
This is at least the third day in a row when price started sagging at the beginning of Asian session. See U/J, G/U, and G/J. Next week I might enter a bunch of shorts for it . . .
  • #588
  • Jan 24, 2008 7:16pm Jan 24, 2008 7:16pm
yes 210.33 on MT4 via IBFX.
  • #589
  • Jan 24, 2008 7:18pm Jan 24, 2008 7:18pm
Quoting Michi
yes 210.33 on MT4 via IBFX.
Yup...I have 210.34 on IBFX
Life's a bitch....so be a dog and cover it!
  • #590
  • Jan 24, 2008 7:22pm Jan 24, 2008 7:22pm
Pips Cruiser, how would you gauge the frequency of entries through Aus' system (15M strategy) daily, by experience?
I have been traded GY for few months now, brand new with this system (Auslanco's one) and I was wondering whether the last few days were typical in term on entries (because I never entered a trade based upon Aus' system on GY since the beginning of the week. I am not always in front on my screen though...)
Just tell me if you can figure a frequency if I'd stay put all day long. Like once per day, or maybe twice? Or more 2 per week ?
Just by experience...
  • #591
  • Jan 24, 2008 7:27pm Jan 24, 2008 7:27pm
major ret. is due on a daily chart
it looks like hit 219.00 area with in couple of days.
  • #592
  • Jan 24, 2008 10:20pm Jan 24, 2008 10:20pm
Quoting Michi
Pips Cruiser, how would you gauge the frequency of entries through Aus' system (15M strategy) daily, by experience?
I have been traded GY for few months now, brand new with this system (Auslanco's one) and I was wondering whether the last few days were typical in term on entries (because I never entered a trade based upon Aus' system on GY since the beginning of the week. I am not always in front on my screen though...)
Just tell me if you can figure a frequency if I'd stay put all day long. Like once per day, or maybe twice? Or more 2 per week ?
Just by experience...
Hi Michi. I'd say it averages close to one a day, or 4 - 6 a week. But some weeks are better than others, and you can have half or nearly twice that number. Some people choose to only start looking for them around London session. This cuts back on the number of trades (possibly in half), but it probably also generates trades with the best chance of success. Plus it keeps your trading hours down. During NY and Asian, price has a way of falling into a ranging pattern, and even if a trade signal is generated, it might sit around and grow stale. But there's also things like the stock market, which can take over price regardless of what your indicators had been telling you. London doesn't have those problems very often, and it's probably the best single session. So this is an option you might want to consider, depending on your needs.
  • #593
  • Jan 24, 2008 10:37pm Jan 24, 2008 10:37pm
It looks like the 15M chart QQE60 is trying to turn bearish. It hasn't confirmed yet. But even if it does, that doesn't mean we should short G/J.
  • #594
  • Jan 24, 2008 10:47pm Jan 24, 2008 10:47pm
Current price is 211.90

Hey Everyone! Thanks PC for all your fantastic analysis and insights.

When 15M triggers it looks like a deliciously tasty trade for the bears to move down. I would put tight stop in place just above 212.50 as bulls are still strong (if 212.25 - 212.50 gets popped we will easily see 213.37 - 214.00 I think). Catch you all in a few hours.

Quoting Pips_Cruiser
It looks like the 15M chart QQE60 is trying to turn bearish. It hasn't confirmed yet. But even if it does, that doesn't mean we should short G/J.
  • #595
  • Jan 24, 2008 10:49pm Jan 24, 2008 10:49pm
Quoting Sith Lord
Current price is 211.90

Hey Everyone! Thanks PC for all your fantastic analysis and insights.

When 15M triggers it looks like a deliciously tasty trade for the bears to move down. I would put tight stop in place just above 212.50 as bulls are still strong (if 212.25 - 212.50 gets popped we will easily see 213.37 - 214.00 I think). Catch you all in a few hours.
Hi Sith! Talk with you later!
  • #596
  • Jan 24, 2008 11:25pm Jan 24, 2008 11:25pm
Our second daily target of 212.64 has been hit. Let's see how price reacts. It may or may not need a retrace after this.
  • #597
  • Jan 24, 2008 11:46pm Jan 24, 2008 11:46pm
hey cruiser, i'm into long since 210.38 but i wanna lock in some profits any advise on where to put my stop order?

its trading at 212.65 now, i placed my stop at 212.25. 40 pips away, u think it might touch and go up again? coz i am seeing some resistance at 212.50..
  • #598
  • Jan 24, 2008 11:58pm Jan 24, 2008 11:58pm
Quoting lyy.sg
hey cruiser, i'm into long since 210.38 but i wanna lock in some profits any advise on where to put my stop order?

its trading at 212.65 now, i placed my stop at 212.25. 40 pips away, u think it might touch and go up again? coz i am seeing some resistance at 212.50..
That's a pretty tough question, considering the pair we're trading here. But it looks like you're using a 40 pip comfort range, which is the same I tend to use. So I think you're doing as well as you can do . . .
  • #599
  • Jan 25, 2008 12:39am Jan 25, 2008 12:39am
Time to find a new fib cycle. I see hourly closes above the 100% on this one now, so the 1.38 fib @ 213.98 is a logical target for London.

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  • #600
  • Jan 25, 2008 12:48am Jan 25, 2008 12:48am
And for something that might spill into New York session, we have 215.10 in this cycle:
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