GBP/JPY for QQE Traders!

Quoting kujo17

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I think she'll slowly range UP.
There has been a VERY strong TL building from 204 up.
It's been tested many many times on many TFs and never broken.

If she breaks this, I'm short for sure and it's got to run down to 208 area.

But, I think we're just gonna twiddle our thumbs most of the day.
We need to be mindful that the Fed could suprise everyone and drop the bomb before the stock market closes today as well.......

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Quoting Pips_Cruiser

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I hope you're, Kujo! And good luck to you and Michi with scalping today. I'll be on the sidelines during NY session, taking care of some other stuff.

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Quoting kujo17

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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.

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Quoting kujo17

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Michi,

When I talked about TLs, draw a TL between the last two UPPER fractals (highs with two lows on either side).
To be ultra safe, wait until you get a close above the upper TL to go Long.
Wait for a close below the lower TL to go short.
This is a safer bet, but less pips to be scalped.

I don't care if the QQE is above or below, as long as it's not straddling the 50 and ranging. As long as it crosses up/down, following my ZL Stoch, I know it's good.

The Stoch usually crosses over just before or at the same time, so I'm mainly basing it on the Stoch now, but the QQE is still important too.

If a bar closes in between the SMAs, like the 3rd trade in that screen shot and the Stoch crosses or touches and the higher TFs are already pointing in the same direction, I'll go in early.

As I said, I know ONLY trade with the 1H trend at minimum.

Much safer, almost NO losses with this route, but I'll usually stay clear on rangey days like this too.

No question is a stupid question, especially when money is on the line.

Just be mindful of the higher TFs trend/momentum.
I didn't watch that carefully enough and got hosed last week.
I made ALOT of profits the beginning of last week and then lost most of them by the end of the week......

But Friday and Monday more than made up for it...... ;-)

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Quoting fx_lane

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not that I have anything against it but why trade such slow and ranging markets it's not nice for me at least.

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Quoting fx_lane

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not that I have anything against it but why trade such slow and ranging markets it's not nice for me at least.

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