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GBP/JPY for QQE Traders!

  • #1,421
  • Feb 12, 2008 10:37am Feb 12, 2008 10:37am
Quoting kujo17
I think our Trusty 50.0 retrace has started.
But, I think it'll get closer to the DP of around 208.11

50.0 retrace: 209.38 area.
61.8 retrace: 209.00 area.

Short from 210.60 here.
Nice that we placed our shorts almost the same, I feel like I good trader then . You don't use SL right? But if you do where do you have it? I have a 50 pip SL.
  • #1,422
  • Feb 12, 2008 3:32pm Feb 12, 2008 3:32pm
3:30 and all is.......... well, all is.......... BORING !!!
  • #1,423
  • Edited 5:58pm Feb 12, 2008 5:04pm | Edited 5:58pm
Haha, wish I would have shorted with you guys. By the way Kujo... Is there anyway I could get the template and indicators you use for your scalping strategy? I would love to really check in on that... That way, while waiting for Aus's M15 strategy to confirm, I could also scalp a few pips here and there. Thanks.
  • #1,424
  • Feb 12, 2008 7:44pm Feb 12, 2008 7:44pm
i've been getting this kind of chart since this morning (i'm in GMT+8).. there was no problem with the chart last nite and the days before.. does anyone have an idea on what's really going on here? seems that the price data from 9/2/08-11/2/08 are suddenly disappear.. btw im using NorthFinance demo.. TQ..
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  • #1,425
  • Feb 12, 2008 10:38pm Feb 12, 2008 10:38pm
This is a question for the Twin Brother Strategy.

How does one go about trading this? From what I've read, I'm guessing order will go like this?

First look at H1 chart, check to be sure where the price is, if it's below or above 1H 5sma, and if 1H QQE5 has already crossed below or above.

If one side already confirmed, meaning, price is below 5sma, and QQE5 is crossed down, then we look over to the 15M chart for a sell entrance. (opposite for buy entrance)

So now let's say both are confirmed, and we're now looking for a sell entrance on the 15M chart. We now wait for price to go below the TFT line, after that, watch for the 15M QQE5 to cross down (dot signal), after that crosses, we then just have to wait for the sell arrow to appear, and enter right as it appears and everything else still confirms?

Or is there another way to look at the 15M chart? I'm just trying to figure out what I should look for and do to get the trigger for sell. Another words, finding the correct sell entrance price. I'm a bit confused what all has to come first, and what comes last to enter.

Let's say the sell arrow already appeared, and not until few candles later price goes below TFT line, and QQE5 crosses, do we enter then as QQE5 crosses? what if TFT line is the last to confirm? Do we enter as price closes below that and everything else confirms? Another words... does it matter what confirms first? or as long as in the end, all confirms, a trade entrance can be taken? Like... if everything on 15M chart confirms first, H1 chart confirms after, we then enter trade after H1 confirms the 15M?

Sorry... I think I might be just confusing myself more the more I ask and type...

Like as of right now, Sell arrow already appeared earlier, H1 chart both confirmed, and QQE5 on 15M chart just crossed (dot appeared) and it's below TFT line, so from this, right now, we enter as the dot appeared right? then set SL at or around 70 pips. The H1 mom is below 50% line (0.00 for mt4) so TP will be set between 75 to 100 pips.

Another words, Twin Brother trade would have been done, entered Sell @209.63, SL @210.33, TP @208.88

Am I correct with this trade entrance? or am I missing a large part of how to trade this correctly?

Thanks...
  • #1,426
  • Feb 12, 2008 11:40pm Feb 12, 2008 11:40pm
Current price is 209.85 (hit an Asian session low of 209.35)

Yesterday's high of 210.97 coincided with a bearish gartley 78.6 fib retracement (212.09 high/ 205.87 low). The bears have pushed price down to 38.2 area (209.37) without much bull resistance. It looks like the market is waiting for the news to resume some big moves.

Usually when the market hits the 38.2 area it does one of two things - rally back up close to the high (210.50 -210.65) or continue it's solid move down to 50.0 to 61.8 area (208.87 - 208.40). So we are stuck in a tricky price zone right now. If the bulls are to take back short-term control you need to watch if it can break 210.00 first and then 210.64. If bulls cannot break these two resistance areas the bears will pounce strongly.

With QQE5 1H and QQE5 15M both crossed down you will need to be bearish bias. Any bull rally that fails to get pass 210.00 (first) and then 210.50ish (second) will provide good indication that bulls are getting weak. Alternatively without any bull rallies, a break pass the session low of 209.35 may move fast down to 208.50ish; extreme bear moves can go down to 207.70. Bulls will need to break pass 210.64 to resume moves up - I will update if that happens.

Please take note of the trend lines that need to be broken for any bear moves.
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  • #1,427
  • Feb 12, 2008 11:56pm Feb 12, 2008 11:56pm
Hi Nobitacu, nice to see you are testing this out !!!

Actually I look at the 15M chart first, then go to 1H chart for setup confirmation. Essentially you are looking for one thing - that QQE5 on 15M and 1H are crossed in the same direction. If they are the current trend is strong and you should ride trades in that direction.

The strategy was derived because some Aus 15M signals were not allowed because the trigger entry was on the wrong side of pivot, 5sma etc. Twins just provides a framework for those who wish to counter-trend trade also.

Hope this helps

Quoting Nobitacu
First look at H1 chart, check to be sure where the price is, if it's below or above 1H 5sma, and if 1H QQE5 has already crossed below or above.

If one side already confirmed, meaning, price is below 5sma, and QQE5 is crossed down, then we look over to the 15M chart for a sell entrance. (opposite for buy entrance)
  • #1,428
  • Feb 12, 2008 11:58pm Feb 12, 2008 11:58pm
Very Nice E !!!!!

Bears are holdin em down at 210 area here.
2 more mins until this 15/30/1H/4H bar closes.......

she's holding right at the top TL of this 15M channel it's been in......

I think Bearish....... with Neg GBP news at 1:30, we see 208.10 my guess.

we wait and see.......
  • #1,429
  • Feb 13, 2008 12:24am Feb 13, 2008 12:24am
Quoting Sith Lord
Hi Nobitacu, nice to see you are testing this out !!!

Actually I look at the 15M chart first, then go to 1H chart for setup confirmation. Essentially you are looking for one thing - that QQE5 on 15M and 1H are crossed in the same direction. If they are the current trend is strong and you should ride trades in that direction.

The strategy was derived because some Aus 15M signals were not allowed because the trigger entry was on the wrong side of pivot, 5sma etc. Twins just provides a framework for those who wish to counter-trend trade also.

Hope this helps
Thanks, at least now I know to look at the 15M first. However, I'm still confused just what triggers the trade entrance? Let's say QQE5 on 15M is crossed up, and price is above TFT. We now go and look at H1 and wait for the price to go above the 5 sma and its QQE5 to cross up, and at the point it crosses up or price goes above 5 sma if QQE5 already crossed, we enter the buy? But what if 15M confirmed after H1 confirms first? Why am I making this more confusing then it should be? :S

Or simply put it: Sell arrow already appeared hour or so ago on 15M, price is below 5 sma on H1, below TFT on 15M, now, wait for QQE5 on both H1 and 15M to cross, and right as both crosses (one might be a little late then the other) we enter sell right then?

Thanks again for your help, I'm trying to make sure I'm trading this correctly so that I could use this to trade while waiting for the main aus 15M strategy to trigger.
  • #1,430
  • Feb 13, 2008 12:36am Feb 13, 2008 12:36am
QQE5 on 15M and 1H must be crossed in the same direction.

This can be either:

1. QQE5 15M crossed up and then QQE5 1H crosses up; or
2. QQE5 1H crossed up and then QQE5 15M crosses up.

QQE5 must move together on both time frames (hence the name Twins). All the others things are for safety measures (or filters). Hope this helps.

Quoting Nobitacu
Thanks, at least now I know to look at the 15M first. However, I'm still confused just what triggers the trade entrance? Let's say QQE5 on 15M is crossed up, and price is above TFT. We now go and look at H1 and wait for the price to go above the 5 sma and its QQE5 to cross up, and at the point it crosses up or price goes above 5 sma if QQE5 already crossed, we enter the buy? But what if 15M confirmed after H1 confirms first? Why am I making this more confusing then it should be? :S
  • #1,431
  • Feb 13, 2008 12:52am Feb 13, 2008 12:52am
Quoting Sith Lord
QQE5 on 15M and 1H must be crossed in the same direction.

This can be either:

1. QQE5 15M crossed up and then QQE5 1H crosses up; or
2. QQE5 1H crossed up and then QQE5 15M crosses up.

QQE5 must move together on both time frames (hence the name Twins). All the others things are for safety measures (or filters). Hope this helps.
Thanks, now everything makes a lot more sense. ^^

So they both have to cross at the same time? If one crosses earlier/later than the other, how long of a time frame could one cross after the first cross for the trade to still be considered valid? (if they cross same direction and all others confirms)
  • #1,432
  • Feb 13, 2008 1:21am Feb 13, 2008 1:21am
They will never cross at the same time ! They both must move in the same direction. Sorry I can't explain it any better. Does this help?


Quoting Nobitacu
Thanks, now everything makes a lot more sense. ^^

So they both have to cross at the same time? If one crosses earlier/later than the other, how long of a time frame could one cross after the first cross for the trade to still be considered valid? (if they cross same direction and all others confirms)
  • #1,433
  • Feb 13, 2008 1:27am Feb 13, 2008 1:27am
Quoting Sith Lord
They will never cross at the same time ! They both must move in the same direction. Sorry I can't explain it any better. Does this help?
Is there a chart as an example that you could show me that explained how you placed the trade? Sorry...
  • #1,434
  • Feb 13, 2008 1:57am Feb 13, 2008 1:57am
Quoting bronx8889
i've been getting this kind of chart since this morning (i'm in GMT+8).. there was no problem with the chart last nite and the days before.. does anyone have an idea on what's really going on here? seems that the price data from 9/2/08-11/2/08 are suddenly disappear.. btw im using NorthFinance demo.. TQ..
yep, same problem to, using north finance as well
  • #1,435
  • Feb 13, 2008 2:14am Feb 13, 2008 2:14am
Thanks Sith.
  • #1,436
  • Feb 13, 2008 2:41am Feb 13, 2008 2:41am
Quoting kujo17
I think our Trusty 50.0 retrace has started.
But, I think it'll get closer to the DP of around 208.11

50.0 retrace: 209.38 area.
61.8 retrace: 209.00 area.

Short from 210.60 here.
Omg it hit 209.35! Your predictions are gold! I must learn better where to place fibs and which lines will be hit!
  • #1,437
  • Feb 13, 2008 3:07am Feb 13, 2008 3:07am
Quoting judith
yep, same problem to, using north finance as well
hopefully everything will be fine tomorrow.. i prefer to use mt4 rather than vttrader..
  • #1,438
  • Feb 13, 2008 3:40am Feb 13, 2008 3:40am
Current price is 211.20

Bulls broke pass key bear zone and should see 212ish (especially on the back of the news). Good night all.

Quoting Sith Lord
Bulls will need to break pass 210.64 to resume moves up - I will update if that happens.
  • #1,439
  • Feb 13, 2008 3:44am Feb 13, 2008 3:44am
yes, good night all.

My nerves are shot.
Still have shorts that were killed las night with the Buffet news.

Uggh.... well, the hedges are in place and been scalpin profits up and down, so it'll all work out......

But it's very taxing on the mind, spirit, soul....... damn forex......

3:44am....... you think I can tell a 19 month old he has to sleep in ? ;-)
  • #1,440
  • Feb 13, 2008 3:47am Feb 13, 2008 3:47am
Simon,

210.40 is the retracement area for this one.

Lets see if it's hit.
I'd rather it blown right through though......

down to like 209.00 !!!!!

Pretty please....... with sugar on top......

2 weeks of 10% / day hit....... to be ruined here.....

Oh well, start a new streak if it's broken.
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