GBP/JPY for QQE Traders!

209.9 area would be true 50% retrace from the last push up.
here's a 1H chart showing the fibs and the TL holding her down.

I have shorts from 213 and 212, TP set for 209.70, just a touch above S3.

Here's a Daily chart showing a 61.8 retrace could be in the cards, juding by the trend of the last up push and then down move.

Some nice longs from 208 to 217 would be a good way to run next week, huh.

I know things slow down the next few hours.
So, hope you all had a great week and lets all make alot of pips !!

kj

Looks like we had a 50% retrace of the weekly low / high earlier today. Price hit that at 09:00EST.

This one is a little harder to see, but we also had a 50% retrace of today's high / low at 10:45EST.

Here's a pop quiz to test yourself on how well you know QQE's. Question: Is this QQE crossed bearish or bullish?

The correct answer is "bullish", because the solid green RSI-index line is crossed above the RSI-slow line.

Here's a pop quiz to test yourself on the "15 minute strategy". Is one of the elements of the 15min trade signal a 15min QQE60 moving above / below the 50 line?

The correct answer is "No". In the 15min strategy, we don't use the 50 line at all when evaluating the QQE60. All we look for is which direction the RSI-index and RSI-slow lines are crossed.

Third and final question: Is this QQE crossed below the 50 line, at the point of the arrow?

The correct answer is "Yes". The solid RSI-index line has crossed below the 50 line, so it is considered under it. The dashed RSI-slow line doesn't necessarily have to dip below the 50 line.

No fair..... I wasn't around to answer your questions before you did.....

Have a great and stress free weekend all.

Happy Pip Hunting in about 36 hours.

Hai kujo..

what is ur setting for stoc & CCi.. input and level ... wonder if u could attach all ur indicator using for trade just like AUs in ur thread..

ZL stoch is 13, which is how it's set up stock. It's posted a few pages back, here.

CCI is input 50. It's ideal on the 1H, but I use it at that even on the 5/15M strat and it helps keep me in trades longer.

QQE5/60, just like everyone else here is using.

thank mate...

Thanks Pips_Cruiser and others as well, you guys who helped out so willingly are truly great people and teachers to all of us who wishes to learn more about how the QQE indictors work.

If one wishes to truly survive this dangerous Forex work, one should learn how to trade and conquer it themselves, and not always rely on others to give them the signals. This thread here is a great place to start on achieving that goal for anyone willing to give it a try and learn how QQE works.

Here's my only and losing trades for last 2 days.
Any advice what I could have done not to lose these trades?

I think the second loss could have been avoided if I used a trailing stop EA. Or I could have closed it out at profit manually while I had the chance.
Or, I could also have respected my initial stop loss of 70 pips and it would have went for profit again.

What do you think?

Simon,

The candle stick just before the arrow, showed much indecision.
Big tails above and below.
But, the candle closed Bullish.
Because of this, I would have waited for the next bar to close to see a Lower Low before going short.

Also, what Indicators are you using ? QQE, Stoch, CCI, MACD ?
Did they indicate to go short there ?

Also, for GJ, a 60 pip stop loss is tough.
We know we can have 100 pip swings on some candles, especially if your trading off this 30M chart only.

Trading off longer term TFs you really NEED to know the trend has changed.

Look for your entry off the 15 and them maybe go to the 30 to figure out how the trade is coming along.

Using such a small stop loos on a higher TF is usually a sure LOSS.

If you need your SL's to be that tight because your account can't take the draw down, I'd start on the 5 and 15M charts, personally and just scalp out pips.

Wait for the trend on the 30 or 1H chart to change direction.
then, use the 5 or 15M charts to trade ONLY in that direction and you won't take too many losses at all.

I haven't taken a loss in 2 weeks, using this basica idea, but on even longer TFs

I look at the 1h, 4H and Daily trends.
Then only trade in that direction, unless I know a big retrace is in order, like this current drop from 213.8.

Daily momentum shows UP on the QQE, Stoch and CCI, but by using other indicators like Fibs and such on the Daily charts, you would see this big retrace coming, hence going Short in a longer term LONG market.

Hope this wasn't a bunch of babble and helped you out.

Simon,

On your Long trade that went south.
Look at the price area it turned around at.
211.45

That was a strong S/R area.

Look back 12 bars, it's a strong bearish candle, it closed just under this.
Prior bar closed just at this price too.
6 bars behind that, 4 other 30m bars touched and couldn't close below.

That is a tell tale sign of strong S/R.

Always look behind your current trade to see where price was stopped up.

Make that your TP.
If it does continue past it, get back in, to the next S/R area.

4-5 20-30 pip wins, are better than one 100 pip win and 3 23 pip losses.

just one more though.

A picture of 1000 words.... just from my humble opinion. Do you guys think that with the election mood going on in US... hardly to see Stocks tumbling down... I've noticed some correlation between DJI and Carry Trades.


http://www.forexfactory.com/attachme...1&d=1203181727

Simon,

Here is my 30M chart.
Your short, I would have not entered.

QQE, Stoch and CCI were all still crosse UP.

Your long, should have been fine if you let it cook.

-30 pips on the Geppy is NOTHING.

Patience is key with this Beast.

Like I said before, -30 pips on a longer TF is a drop in the bucket.
You need to wait for your indicators to tell you the trend has changed.
Enter and let your trade progress.

Use smaller lots and larger SLs.

Or, as I mentioned use the 5M chart if -30 pips is too much drawdown.

I hope any or some of this helps.

kj

Thanks kujo I appreciate your input .

I'll think about increasing my stop loss to max 70 pips maybe.

To answer your question, these trades where taken on.
1. You among people here had predicted points where price would reach.
2. My pivot and fib indicators had lines at these points.
3. This made me expect a turn at these prices, it did and I entered.
4. qqe on 15m was in the direction of my first trade.

Problem is that I entered on retraces and then it turned again.
Thanks again anyway.