GBP/JPY for QQE Traders!

Quoting Pips_Cruiser

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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

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Quoting Nobitacu

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Hmmm... Ok, but on his website, I do see the LSR on his H4/H1 chart on the pictures, and this is also what's used to generate those arrows right? So the H4/H1 strategy doesn't use arrows anymore then? Only dots? But yea, it does make sense that LSR isn't needed to determine the entrance from the way he's telling us how to trade it. I just wanted to make sure LSR indicator isn't needed on the H4/H1 charts.

Thanks again.

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Quoting Nobitacu

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Hmmm... Ok, but on his website, I do see the LSR on his H4/H1 chart on the pictures, and this is also what's used to generate those arrows right? So the H4/H1 strategy doesn't use arrows anymore then? Only dots? But yea, it does make sense that LSR isn't needed to determine the entrance from the way he's telling us how to trade it. I just wanted to make sure LSR indicator isn't needed on the H4/H1 charts.

Thanks again.

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Quoting kujo17

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I know this is our QQE strategy thread, but does anyone 'feel' the waves thing ?

5 waves per cycle, etc.....

Anyone have thoughts, agreements or disagreements with this chart ?

I wanna know what you guys/gals think.

X being the start of the down cycle, from the HH.

kj

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Quoting Nobitacu

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For the daily pivot indicator, would using something such as this one works? This is a Multi time frame pivot points indicator. Wondering if using this, it'll save me work from having to change the values at each new session.

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Quoting Pips_Cruiser

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Maybe one of the MT4 users in the group can help you with this. But if it allows you to set the start time of the pivot calculation to whatever you want it to be, then it seems like it would work. You'd want the start time to be different for each trading session for the 15 minute strategy.

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Quoting Nobitacu

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Alright, I guess I'll just use the pivot point indicator that was provided on the website. As for the values, does that mean DayStartHour (default is set at 9), I change the value to 19 when Tokyo starts, 3 when London starts, and 8 when New York starts? or does the values go by GMT time? Which means value for Tokyo would be 0, London will be 8, and NY will be 13? Sorry about all these questions. After this one, all the charts will be setup correctly, and then I can finally start following the charts...

Values:
Change your daily pivot "start time" at the start of every single session.
Eg:
19.00 EST for Tokyo
03.00 EST for London
08.00EST for New YorkPivot set 1 = Daily (1=daily, 2=weekly, 3=monthly)

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Quoting Pips_Cruiser

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Good question. It's my understanding that since you're using MT4, you'll use the equivalent GMT times.

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Quoting Nobitacu

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Alright, thanks again for your help.

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Quoting Pips_Cruiser

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Like this, for New York session:

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Quoting Sith Lord

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TRADING PLAN


RULES FOR SHORT ENTRY

15M Twin Brother

· 15M QQE5 crossed (dot signal)
· Price is below Gann HiLo (setting 10)
· Sell Arrow appears

1H Twin Brother

· Is price below 1H 5sma ?
· Has 1H QQE5 crossed down in the SAME DIRECTION as 15M QQE5 ?
· Both questions must be answered as YES for entry signal !


ENTRY PRICE

This should be + / - 10 pips from 15M Sell Arrow price (ATR / Stop Reverse Indicator)

· You don’t have to wait for 1H candle to close, just monitor price action as 1H QQE is crossing over.
· 1H QQE doesn’t have to cross 50% for entry. However the IDEAL entry is when QQE crosses down from the overbought zone (65% – 80%).
· Trades can be taken when 15M QQE5 crosses in the SAME DIRECTION as 1H QQE5. However, most times the 1H QQE5 will be close to 25% oversold area - you will need to trade with caution.


STOPS

10 pips above 15M QQE5 cross price


PROFIT TARGETS

Has the 1H Momentum Indicator crossed down pass 50%?

· If Yes, Target is minimum 75 - 100 pips (including spreads). Trade Duration is 45 minutes to 120 minutes
· If No, Target is maximum 50 – 75 pips (including spreads). Trade Duration is 15 minutes to 60 minutes


RISK & REWARD RATIO

1:1

Typically your stops will be approx.70 pips from entry. Minimum Profit Target is around 50 - 70 pips.

1H Momentum trades that have crossed 50% AND Sell Entry triggered on the 15M Strategy (ie., when price is below 1H 100sma, below Daily Pivot and below Daily 5sma) will deliver well over 100 - 125 pips

---------------- THE END --------------------------

Rules for LONG Entry are vice versa

----------------------------------------------------------

Note: I have only been developing this strategy for one month. From what I see it has some good trades and pretty reliable.

I will demo trade this for 1 – 2 months on this thread to build up confidence. I will try and provide potential setups before entry triggers on Asian / London sessions. Please do some back testing and feel free to suggest any improvements !

With the other two strategies I will continue to trade on my live account.

I hope this will add more green pips for all of us.

Sith Lord

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Quoting kujo17

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I know this is our QQE strategy thread, but does anyone 'feel' the waves thing ?

5 waves per cycle, etc.....

Anyone have thoughts, agreements or disagreements with this chart ?

I wanna know what you guys/gals think.

X being the start of the down cycle, from the HH.

kj

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Quoting Pips_Cruiser

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Okay, I'll bite. Here's a daily chart. Also a link to some simple guidelines for detecting Elliot Waves.

So I'd say there's a good chance this theory is playing out here, and if so, we're in wave 3 (or possibly the early stages of wave 4).

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