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GBP/JPY for QQE Traders!

  • #1,161
  • Feb 5, 2008 8:32pm Feb 5, 2008 8:32pm
ok I know how I'm suppose to add it to my tools, but I mean: how am I suppose to interpret its shape: prices that cross up: buy signal, and vice versa ?
I figured it might be that, if you can just confirm...
  • #1,162
  • Feb 5, 2008 9:54pm Feb 5, 2008 9:54pm
Quoting Michi
ok I know how I'm suppose to add it to my tools, but I mean: how am I suppose to interpret its shape: prices that cross up: buy signal, and vice versa ?
I figured it might be that, if you can just confirm...
Hi Michi,

The Gann HiLo Activator is basically a simple moving average. When price is above the Gann line it uses the previous 10 period lows for calculations. When price is below the Gann it uses the previous 10 period highs for calculations. 10 that is, if that's what it's set for.

Aus introduced us to the Gann last summer. It’s a good way of determining short term trend (or price movement) on a given time frame. If price bars are forming above the Gann it’s trending up, and if below it’s trending down. It’s usually used in conjunction with other indicators (like QQE) to spot trades.

You can learn more about it here:

http://www.forexfactory.com/showthread.php?t=41509
  • #1,163
  • Feb 5, 2008 10:15pm Feb 5, 2008 10:15pm
The Gann is often used on higher times (4hr and up) to gauge overall price direction. But the inherent problem here is that different brokers can have different closing / opening times for these time frames. Consequently one person can have closes above the Gann while another is having them below. This also tends to throw off the timing of the moving average line, so it’s exact position differs as well.
  • #1,164
  • Feb 5, 2008 11:25pm Feb 5, 2008 11:25pm
Quoting kujo17
I think since it broke the 209.45 area, we'll get a retrace up to DP.
probably a little shy.. like 209.85-90 area.
Then, turn around and head back down.
Wait until she stalls out and then go short from the top of the rally up.

206.88 by London. ;- )
I agree with u kujo but I was asleep during the tokyo session. too much movement during the day but I missed the last big movehttp://www.forexfactory.com/images/icons/icon8.gif. so I thought tokyo wouldn't bring any surprises, like us all she needs a rest too.but now she's at fib level 209.3 bollinger bands closing in watch out fellows...
All the best things in life are free.
  • #1,165
  • Feb 5, 2008 11:49pm Feb 5, 2008 11:49pm
hello Kujo, thanks for answer, I had to leave last night.
  • #1,166
  • Feb 5, 2008 11:51pm Feb 5, 2008 11:51pm
Bollinger bands closing in, watch out boys......

What do you mean FX ?

Not a BB guy.

I see strong S/R at 208.75-85 area and then 206.90.

We'll see if there is any momentum here.

Like watching paint dry on a cold, wet day.....
  • #1,167
  • Feb 5, 2008 11:52pm Feb 5, 2008 11:52pm
Quoting capetown
hello Kujo, thanks for answer, I had to leave last night.
No problem.
we're all here learning together.
  • #1,168
  • Feb 6, 2008 12:58am Feb 6, 2008 12:58am
so silent...
  • #1,169
  • Feb 6, 2008 1:03am Feb 6, 2008 1:03am
very silent, so far....
  • #1,170
  • Feb 6, 2008 1:12am Feb 6, 2008 1:12am
Current price is 209.13

Today the market has hit same low as last Friday at 208.83/84. The market still has not completed it's bear move down to 208.12 - 208.54. I think there is still some more space to move downwards before bulls come strong again.

Sure you may get a retracement up...but it appears very limited. I can't see bulls going past 210.06 - 210.22 (max 210.70ish). Price is bearish - you have the 3 Amigos (QQE5 15m, 1h and 4h) all crossed down. Good luck all.
  • #1,171
  • Feb 6, 2008 1:29am Feb 6, 2008 1:29am
Current price is 209.06.
It is around 209.00 and it is practising my patience.
It is a big S/R. The way I see it.
  • #1,172
  • Feb 6, 2008 1:33am Feb 6, 2008 1:33am
A real simple method to determine trend direction is on the 1H charts. I look at the Gann Hi Lo price (brown line) and 5sma close (green line). You can use the 15M if you prefer, however I like the 1H.

As you can see from my chart that price is currently below both Gann and 5sma - this is a no brainer indicator to tell you price is bearish. If price breaks 5sma (209.25) and Gann (209.60) that will mean short-term price is getting bullish. We always need a bias when we look for entries. As usual, 15m and 5M are excellent TF for entries. Scalpers pls ignore my comments.

At the core is always the QQE5. This is also bearish.
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  • #1,173
  • Feb 6, 2008 1:40am Feb 6, 2008 1:40am
Short from 212.01, 211.34 and 210.81
--with 8 tries at this 208.85 area, I just let my shorts TP out at 208.85.

Son's sick. Wife's on bed rest with our twins... just need some sleep.
Trading until 3am and up at 7, is just killin me.... this Forex monster.....

It's an addiction..... Forex.... making money, etc.......

Pos 1. Sell Stop set at 208.69 with TP of 207.11
Pos 2. Sell stop set at 208.69, with Trailing stop of 65 pips

Good night Sith, PC, Michi, V and all our other QQE crusaders.

Happy Pip Hunting !!
  • #1,174
  • Feb 6, 2008 1:50am Feb 6, 2008 1:50am
I wish good health for your son and pregnant wife. Get some rest mate. There is plenty of pips for you tomorrow !

Quoting kujo17
Son's sick. Wife's on bed rest with our twins... just need some sleep.
  • #1,175
  • Feb 6, 2008 1:54am Feb 6, 2008 1:54am
Quoting Sith Lord
I wish good health for your son and pregnant wife. Get some rest mate. There is plenty of pips for you tomorrow !
Yep, nothing comes before family and health.

FX a close third though... lol!
  • #1,176
  • Feb 6, 2008 1:54am Feb 6, 2008 1:54am
Current price is 208.05 (hit low of 207.92)

Price has entered the bear completion zone. There is very strong bull resistance from 207.88 - 208.20. Watch price now...it will tell you how strong the bulls are.


Quoting Sith Lord
The market still has not completed it's bear move down to 208.12 - 208.54. I think there is still some more space to move downwards before bulls come strong again.
  • #1,177
  • Feb 6, 2008 2:58am Feb 6, 2008 2:58am
Current price is 208.55

Looks like the bulls have found some nice strength to push bears back. On the 5M charts there is short-term bullish strength. 1H QQE5 is in the oversold zone. Price has pushed up as high as 208.71 - you may see price move back down and drift a little. There is another strong bullish support at 207.50ish (100 pips away).
  • #1,178
  • Feb 6, 2008 3:03am Feb 6, 2008 3:03am
Quoting Sith Lord
Current price is 208.55

Looks like the bulls have found some nice strength to push bears back. On the 5M charts there is short-term bullish strength. 1H QQE5 is in the oversold zone. Price has pushed up as high as 208.71 - you may see price move back down and drift a little. There is another strong bullish support at 207.50ish (100 pips away).
short @ 208.80 is good
  • #1,179
  • Feb 6, 2008 4:06am Feb 6, 2008 4:06am
Quoting Sith Lord
Current price is 208.55

Looks like the bulls have found some nice strength to push bears back. On the 5M charts there is short-term bullish strength. 1H QQE5 is in the oversold zone. Price has pushed up as high as 208.71 - you may see price move back down and drift a little. There is another strong bullish support at 207.50ish (100 pips away).
Looks like you've been right all morning.well I'm not good with short term but good lord how do you do it? I don't like trading what others are saying without understanding, so do you mind to explain the trick?
All the best things in life are free.
  • #1,180
  • Feb 6, 2008 4:32am Feb 6, 2008 4:32am
hi everyone...

i just come back to forex factory...hehehe
so, anyone know where GJ will going...
for my opinion...GJ will going UP...
1st TP is a previous HIGH...

sorry my english very bad....
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