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GBP/JPY for QQE Traders!

  • #661
  • Jan 28, 2008 4:17am Jan 28, 2008 4:17am
Quoting kujo17
Kujo's 5m/15M Scalp Trade Strategy

5M or 15M charts.
Monitor 30M, 1H, 4H and Daily charts to follow momentum.
I will only trade now, with the HOURLY trend, but you can scalp UP and Down at will.

QQE 5
Zero Lag Stochastic Indicator, setting 13, which is embedded inside.
5SMA close and open

Also use Trend Lines on the two most recent Fractals both top and bottom.
To be safest, don't enter until one is broken, but I don't do this now, as I ONLY trade this strategy with the 1H trend being identified by the Stoch and QQEs.

When 5SMAs cross, I'll wait for the following 5M bar to close.
If it closes below the SMAs, and Stoch crosses over, Enter trade.
Long if above and short below.

I'll then wait for the Stoch to cross up/down to Exit, but as I said, I only trade with the 1H trend now.

Otherwise, if you are scalping up and down, exit when a 5M bar closes touching an SMA line for safety.

It's an easy strategy and has made VERY good pips.


Notice where I made white lines on the crosses and the closing bars.
Those are enter/exit points.

I'll stay in trades longer now, as I'm ONLY trading with the 1H trend and haven't taken a loss since switching to this method.
Thank you for sharing this, could you please also post the metatrad code for QQE?
  • #662
  • Jan 28, 2008 4:51am Jan 28, 2008 4:51am
Quoting kujo17
Kujo's 5m/

I'll stay in trades longer now, as I'm ONLY trading with the 1H trend and haven't taken a loss since switching to this method.
Hi Kujo,

I installed the ZL(13) indicator but I only get the Red line.Where did you get the other dotted line from?(The same for QQE)

Thanks
Mike
Failure, is a wonderful teacher!
  • #663
  • Jan 28, 2008 5:27am Jan 28, 2008 5:27am
Quoting kujo17
YUP. Hit my TPs and I doubled my 'slush fund' account since mid Friday......

Way to start the week !!!!
I set up the same strategy: short from 212, TP 209.4 .... and because of the spread I didn't touch it (IBFX=9 pips)! Since I live in London, I was sleeping and couldn't look at it... so, now back in the 212's !
But nice catch here Kujo...

What's the best broker to trade GY? Because a spread of 9 pips is just too much...
  • #664
  • Jan 28, 2008 5:28am Jan 28, 2008 5:28am
Quoting kujo17
Kujo's 5m/15M Scalp Trade Strategy

5M or 15M charts.
Monitor 30M, 1H, 4H and Daily charts to follow momentum.
I will only trade now, with the HOURLY trend, but you can scalp UP and Down at will.

QQE 5
Zero Lag Stochastic Indicator, setting 13, which is embedded inside.
5SMA close and open

Also use Trend Lines on the two most recent Fractals both top and bottom.
To be safest, don't enter until one is broken, but I don't do this now, as I ONLY trade this strategy with the 1H trend being identified by the Stoch and QQEs.

When 5SMAs cross, I'll wait for the following 5M bar to close.
If it closes below the SMAs, and Stoch crosses over, Enter trade.
Long if above and short below.

I'll then wait for the Stoch to cross up/down to Exit, but as I said, I only trade with the 1H trend now.

Otherwise, if you are scalping up and down, exit when a 5M bar closes touching an SMA line for safety.

It's an easy strategy and has made VERY good pips.


Notice where I made white lines on the crosses and the closing bars.
Those are enter/exit points.

I'll stay in trades longer now, as I'm ONLY trading with the 1H trend and haven't taken a loss since switching to this method.
Great, thanks Kujo !
I'll have a look at it in the afternoon (GMT).
Cheers
  • #665
  • Jan 28, 2008 12:33pm Jan 28, 2008 12:33pm
Possible 15 min strategy long trade coming up. Looks like it will generate if price gets to about 212.55. We need an up arrow and an up crossed QQE5 still. Target would be NY daily R1 @ 213.60.
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  • #666
  • Jan 28, 2008 12:55pm Jan 28, 2008 12:55pm
we're just hanging out, ranging in this area.
A close above the DP will probably be the boost we need to go up.
Once it does break up, I'm thinking the R2 will be attainable, as it was Fridays high and then 217.xx as the 138.2 Fib Extension of this move up.

almost past the DP right now....... let this close above and we go North.
  • #667
  • Jan 28, 2008 3:58pm Jan 28, 2008 3:58pm
Well, we have an Ascending triangle formed on the 5M. About to be pierced UP.
Stoch and QQE is crossed up

15M is about to break the upper TL of the somewhat Ascending triangle, Stoch IS crossed up and QQE is about to cross a the close of this bar.

30M will close above the upper TL of it's Ascending Triangle and Stochs is crossed up and QQE is close to crossing.

1H Stoch and QQE are still crossed up and if this bar closes above the upper TL, I think we're good to go North.

4H is toucing and about to cross up on the Stoch and pushing upwards to cross on the QQE.

217 would be the 138.2 Fib extension of the last push up.

215.xx is the R3 area, as once it breaks up, it should surpase yesterdays high of 214.xx

But, we shall soon see which way she wants to go.

kj
  • #668
  • Jan 28, 2008 4:01pm Jan 28, 2008 4:01pm
Yo Sith........ you at a Jedi meeting ?
  • #669
  • Jan 28, 2008 4:56pm Jan 28, 2008 4:56pm
I also have a bullish view on the pair, targeting 214.00 from Fibo retracement...
Long from 212.68.
QQE60 is up, QQE5 is over 50 and crossed not so long ago, 5sma and 100sma are both pointing towards a bullish trend.
ADX is around 30, showing a trending market.
I therefore pulled the trigger!
Let's see now...
  • #670
  • Jan 28, 2008 5:29pm Jan 28, 2008 5:29pm
mmm mmm down 70 pips... don't know what to do!
Mayday Mayday
  • #671
  • Jan 28, 2008 7:33pm Jan 28, 2008 7:33pm
No one is here tonight...
Anyway, I'm long 2 mini lots from 212.43 and 212.68, targeting 214.00.
No SL, just TP set up at 214.00 !
Based upon my trend lines and my Fibonacci.
Bad entry points because I was in quite a hurry, but I feel it. My guts usually are wrong though...
I am bullish on the pair, I am going to sleep, I'll dream about it... and let's see tomorrow morning when I wake up what happened.
Cheers
  • #672
  • Jan 28, 2008 7:36pm Jan 28, 2008 7:36pm
If the pair retraces, it won't go lower than the 211.00 level in my point of view. If you draw a trend line from the 23rd of January until the 28th at the lowest point, you can have the trend line I'm talking about.
If it crosses, then I'd be bearish on the pair... hopefully it won't cross in the next few hours.
Cheers
  • #673
  • Jan 28, 2008 7:57pm Jan 28, 2008 7:57pm
Michi have you gone mad it's not a toss the coin game chill out close the trade look around it might go up but who cares without a stop loss you might as well play the lottery imo this pair could go either way at the moment but its up to you i hope it works out ok did you put a limit in ?
  • #674
  • Jan 28, 2008 8:20pm Jan 28, 2008 8:20pm
GU, GJ and UJ 1 hr QQE5 are almost crossing down. GJ and UJ QQE5 about to crossing 50 line. Seems to be a good sign to short on GJ. I saw a 15 min short is developing. Does anybody think the same way?
  • #675
  • Jan 28, 2008 8:22pm Jan 28, 2008 8:22pm
Well, at this point, everything up to the 1H is pointing south.
The 4H is about to do that as well.

Maybe a retrace down to the 38.2 fib at 210.4 ? or 210.17 is S1.

But, even if eveyone's feeling bullish, it's the bears at the moment.
Ride her down and get in some better longs when she turns.
214/217 should be the top of the Fib Ext.

Hopefully, we'll get some action before London.....

Zzzzzzzzzzzzzzz all afternoon.
  • #676
  • Jan 28, 2008 8:22pm Jan 28, 2008 8:22pm
hey... no worries I have closed my position already, I'm on a demo account with these positions.
It might retrace to 111.00 and/or 210.41 (Fibo retracement), to target north then.
Anyway we'll see...
  • #677
  • Jan 28, 2008 8:23pm Jan 28, 2008 8:23pm
Quoting happy_always20
GU, GJ and UJ 1 hr QQE5 are almost crossing down. GJ and UJ QQE5 about to crossing 50 line. Seems to be a good sign to short on GJ. I saw a 15 min short is developing. Does anybody think the same way?
I'm short from 212.xx

210.x area for a 38.2 fib retrace.

then up to 214/217 from there.
  • #678
  • Jan 28, 2008 8:30pm Jan 28, 2008 8:30pm
didnt know that sleep well
  • #679
  • Jan 28, 2008 8:30pm Jan 28, 2008 8:30pm
I'm curious to see if price gets much past 211. That would be the 50% retrace area . . .
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  • #680
  • Jan 28, 2008 8:39pm Jan 28, 2008 8:39pm
I wonder if the Japanese housewives were cashing in their carry trades, and that was driving down price?

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