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GBP/JPY for QQE Traders!

  • #981
  • Feb 1, 2008 8:38am Feb 1, 2008 8:38am
Quoting kujo17
Bring on 217 !!! ;-)
Why are you leaving me alone guys ... I can't take it to 188.60 by myself ...
  • #982
  • Feb 1, 2008 8:40am Feb 1, 2008 8:40am
it goes to 217 and then to 188 P.

Have a great weekend guys.
I think I'm done on this weeks roller coaster ride......

kj
  • #983
  • Feb 1, 2008 8:41am Feb 1, 2008 8:41am
This is a dangerous damn pair, i've never. Nor would i ever trade this, too much risk, a 3 pip spread= doom for everyone interested.
  • #984
  • Feb 1, 2008 8:42am Feb 1, 2008 8:42am
Quoting Pirin
Why are you leaving me alone guys ... I can't take it to 188.60 by myself ...
it will go to 188.60 on the way back from 223
  • #985
  • Feb 1, 2008 8:56am Feb 1, 2008 8:56am
Quoting kujo17
it goes to 217 and then to 188 P.

Have a great weekend guys.
I think I'm done on this weeks roller coaster ride......

kj
ok man, take care

@marcb

but don't forget, a promise is a promise
  • #986
  • Feb 1, 2008 9:46am Feb 1, 2008 9:46am
I hope everyone got short pips from the 15min strategy trade, or at least the 4hr / 1hr strategy trade. I'm waiting for the 15min chart QQE5's for G/J, U/J, and G/U to all cross upwards (but not necessarily over the 50 line). Then I'll go long for a 50% retrace of this fall.

  • #987
  • Feb 1, 2008 9:53am Feb 1, 2008 9:53am
PC newbie question here. When you say 50% retrace of this fall which time frame do you calculate the 50% retrace from?
  • #988
  • Feb 1, 2008 10:24am Feb 1, 2008 10:24am
210.65 area is the 50% retrace.
I think once this closes out above the S1 line, we'll get there, maybe not today....

I have this feeling it'll get back to the DP for some reason.

Maybe because I had a hedge in place and it's just above the DP

But, when I went to bed, I wasn't sure what it was gonna do and both the trade and hedge were slightly in Neg #s.... gamble you take for a few hours sleep..... and being on PST, I got hosed with the NFP being more negative than expected.

But, I'll put a few lots extra on the retrace and recoup any short coming losses that'll ensue by not retracing to the 212 area.

Ahhhh, the fun of forex.

the bummer part....... the TP for the Buy hedge, with a Buy Stop above it for security, was missed by 4 pips. 4 more pips on that upswing before the news, and I'd have hit an never nice number of pips this week.

ahhh the FX...... brings you up and kicks you in the ....... well you know.....
  • #989
  • Feb 1, 2008 10:25am Feb 1, 2008 10:25am
Quoting vinesh2
PC newbie question here. When you say 50% retrace of this fall which time frame do you calculate the 50% retrace from?
Time frame won't matter.

Pull the Fib from the Highest high to the lowest low of the drop.
The HH and the LL will be the same on any time frame.

k
  • #990
  • Feb 1, 2008 10:33am Feb 1, 2008 10:33am
Quoting vinesh2
PC newbie question here. When you say 50% retrace of this fall which time frame do you calculate the 50% retrace from?
That's not such a newbie question. It's kind of a judgment call, to tell you the truth. I'll probably use the daily high and the eventual low. That way time frame doesn't matter. The mid-point should make a good target.
  • #991
  • Feb 1, 2008 10:47am Feb 1, 2008 10:47am
If I were to draw the fib would I have to wait till the end of the Daily candle? and then figure out the 50% retrace>
  • #992
  • Feb 1, 2008 10:49am Feb 1, 2008 10:49am
Why do people call it a 50 % fib retracement when the 50 % have nothing to do with the Fibonacci numbers ?
I am not such a fan of Fibo anyway ... if there is a retracement coming it shouldn't get further than 210.14 (weekly pivot).
  • #993
  • Feb 1, 2008 10:57am Feb 1, 2008 10:57am
Quoting Pirin
Why do people call it a 50 % fib retracement when the 50 % have nothing to do with the Fibonacci numbers ?
I am not such a fan of Fibo anyway ... if there is a retracement coming it shouldn't get further than 210.14 (weekly pivot).
Habit . . . and a convenient way of talking . . . LOL
  • #994
  • Feb 1, 2008 11:03am Feb 1, 2008 11:03am
Quoting vinesh2
If I were to draw the fib would I have to wait till the end of the Daily candle? and then figure out the 50% retrace>
No. And you wouldn't have to use the daily chart, either. For instance if 208.81 turns out to be the low, use it and 212.35 (high) on any chart from daily on down. 15M - 4H charts should give the same results.
  • #995
  • Feb 1, 2008 11:08am Feb 1, 2008 11:08am
By the way, we'd want to see "confirmed" 15M QQE5 crosses on G/J, U/J, and G/U. That means that the 15M candles close while crossed up.
  • #996
  • Feb 1, 2008 11:10am Feb 1, 2008 11:10am
Quoting Pips_Cruiser
After you get your indicators setup correctly and learn the basics, you can follow this as a summary:

Buy Signal (opposite for Sell):

1) Price must be above the 1hr 100sma.
2) Price must be above the Daily 5sma.
3) Price must be above the session Daily pivot.
4) 15M chart Level Stop Reverse buy arrow (up).
5) 15M chart QQE5 crossed up (RSI-index green line crossed above the Level-RSI-slow line), and crossed above the 50 line.
6) 15M chart QQE60 crossed up (RSI-index green line crossed above the Level-RSI-slow line).
NOTE: QQE60 has to cross upward while the price is above the 1hr 100sma and Daily 5sma. If the QQE60 crosses upward while price is below the Daily 5sma or 1hr 100sma, don't take the trade.

Stop Loss:

10 pips below (for buy) or above (for sell) the Level Stop Reverse dashed line at the time of entry.

Take profit:

Set TP at the next pivot support or resistance level from the entry (R1, R2, S1, S2, etc.).

Exit:

If the QQE 60 crosses in the opposite direction, exit the trade.
Hello again,

I've download all the new indicators and templates, but found out I'll need to add the indicators myself and readjust its values with those templates (most likely because of new versions of indicators). I've done that so far for H4 chart (which I'm guessing would be same settings with H1 chart, only H1 I'll also add a 100sma line), however, for the LevelStop_Reverse indicator, what values should I enter for these? I default is NonATRStopPips=40, ATRPeriod=9, ATRMuliplier=3.0 and ATRSmoothing=0. I couldn't have on his website that states the values I needed for the H4/H1 charts. I did find the values for the M15 chart.

Thanks for your help.
  • #997
  • Feb 1, 2008 11:16am Feb 1, 2008 11:16am
Quoting Nobitacu
Hello again,

I've download all the new indicators and templates, but found out I'll need to add the indicators myself and readjust its values with those templates (most likely because of new versions of indicators). I've done that so far for H4 chart (which I'm guessing would be same settings with H1 chart, only H1 I'll also add a 100sma line), however, for the LevelStop_Reverse indicator, what values should I enter for these? I default is NonATRStopPips=40, ATRPeriod=9, ATRMuliplier=3.0 and ATRSmoothing=0. I couldn't have on his website that states the values I needed for the H4/H1 charts. I did find the values for the M15 chart.

Thanks for your help.
The LSR only goes on the 15M chart, and the setting are:

"Change these values at indicator properties.
ATR Periods 28 (Changed from the previous version)
ATR Multiplyer 2.75 (Changed from the previous version)"

per:

http://www.pnwenterprises.com/auslan...instrategy.htm



  • #998
  • Feb 1, 2008 11:18am Feb 1, 2008 11:18am
Quoting Pirin
Why do people call it a 50 % fib retracement when the 50 % have nothing to do with the Fibonacci numbers ?
I am not such a fan of Fibo anyway ... if there is a retracement coming it shouldn't get further than 210.14 (weekly pivot).
We had 50.0 Fib retracements from every big move, every day this week.
Usually during the Tokyo session.

Your weekly Pivot is right on a 38.2 fib line from this drop.

I thought it was all hokie as well but, since learning to use them, I've doubled my pip intake and hit TPs, TO THE PIP 4 times this week.

Of course, just like indicators, it's all preference, but when used right.........
  • #999
  • Feb 1, 2008 11:28am Feb 1, 2008 11:28am
50.0 Fib retracements ARE 50% of the drop.

If you pull a Fib on this last drop.

HH is 212.33
LL is 208.84

349 pip drop.

50.0 fib is at 210.58, 174 pip south of HH and 175 pip north of LL.

That's 50%..........
  • #1,000
  • Feb 1, 2008 11:33am Feb 1, 2008 11:33am
I have confirmed 15M QQE5 crosses on G/J, U/J, and G/U.
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