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GBP/JPY for QQE Traders!

  • #1,621
  • Edited 10:12am Feb 18, 2008 9:43am | Edited 10:12am
I just went long at 211.24. It broke 2 trendlines and QQE is pointing up on m5, m15 and m30. I don't trake this trade too seriously, just learning.

What a boring day
  • #1,622
  • Feb 18, 2008 11:31am Feb 18, 2008 11:31am
Quoting oly
so gj is going to 209 or not?..
Patience

We should see 208.8 area by mid London.
30m, 1H and 4H are all pointing south, making lower Highs.......
She's going down, but slow as hell, due to US holiday.

I've posted a 1H and Daily chart a few times showing Fib retrace lines.

This is a classic 5 wave move down and then the 3 wave correction move up, which will bring us to 217 area.

She could range for 36 hours and tank 300 pips in 2 hours.

This is the BEAST....... patience is needed to slay her.
  • #1,623
  • Feb 18, 2008 11:32am Feb 18, 2008 11:32am
Quoting SimonJ
I just went long at 211.24. It broke 2 trendlines and QQE is pointing up on m5, m15 and m30. I don't trake this trade too seriously, just learning.

What a boring day
Every trade should be taken seriously.
Demo should be thought of as real money.
So you learn your trading style and strategy.

Boring day is right.... but this happens with this pair.

Tokyo and London will give you a 200 pip drop !!!!
  • #1,624
  • Feb 18, 2008 11:48am Feb 18, 2008 11:48am
Quoting kujo17
Every trade should be taken seriously.
Demo should be thought of as real money.
So you learn your trading style and strategy.

Boring day is right.... but this happens with this pair.

Tokyo and London will give you a 200 pip drop !!!!
Well, I do like this. Before I enter a trade I ask myself "would I have taken this trade in a real account?", if I answer yes to that question I will write down the trade, when I manage to be profitable in these trades, I will go live/use more money live. When I answer no, I don't write down the trade, I just take a note in my mind how well it worked. What I mean is basically to learn a new trading style you won't be sure if it works before you have learned it.
  • #1,625
  • Feb 18, 2008 11:55am Feb 18, 2008 11:55am
Quoting kujo17
Every trade should be taken seriously.
Demo should be thought of as real money.
So you learn your trading style and strategy.

Boring day is right.... but this happens with this pair.

Tokyo and London will give you a 200 pip drop !!!!
Hallo Kujo!

Happy birthday!

Not to spoil the party, but Karmo #182 and me are quite certain we will rather go up in the near future. It is more based on the longer TFs though.

Hope you have a nice little party later on!
Ciao
Matt
  • #1,626
  • Feb 18, 2008 12:10pm Feb 18, 2008 12:10pm
Quoting Gnat
Hallo Kujo!

Happy birthday!

Not to spoil the party, but Karmo #182 and me are quite certain we will rather go up in the near future. It is more based on the longer TFs though.

Hope you have a nice little party later on!
Ciao
Matt
Everyone is entitled to their opinion and interpretation.

Looking at the Daily chart, to me, we certainly will get a 61.8 fib retrace to the 209 area.

Also, all the longer TFs are pointing south.

WE get by the 210.50 area and then the 210.1 area and we're at 209.

I respect Karmo very much, but he is human and this if Forex.
He is NOT 100% right.

We'll just have to wait and see what happens.

Either way, I'm short from 213, 212 and 211.8 area.
I'm in profits, nicely......

If it turns around on the longer TFs, I'll go long, but until then, I'm short.

Also, we need a close above the 200ema on the 4H to get to 217.

We didn't break it the other day...... we'll just have to wait and see.

Spoil my party ? Nope........ Just trading what I see.

209, then up to 217.

daily chart....... 61.8 will be touched..... won't be closed below, but will get touched and my TPs will be hit.
http://forexfactory.com/attachment.p...3&d=1203096858
  • #1,627
  • Feb 18, 2008 12:19pm Feb 18, 2008 12:19pm
[quote=kujo17;1857096]
I agree, we got lots of wood to chop to get to 209, once 210.50 gives away, we have support at 209.80 and then at 209.30 , its been a strong resistance before it gave way to go to 213 area

we should see 209.30 in London session. We may see a small retracement to 211.30 - 211.50 area before that fall,

imran
  • #1,628
  • Feb 18, 2008 12:38pm Feb 18, 2008 12:38pm
[quote=imransait;1857144]
Quoting kujo17
I agree, we got lots of wood to chop to get to 209, once 210.50 gives away, we have support at 209.80 and then at 209.30 , its been a strong resistance before it gave way to go to 213 area

we should see 209.30 in London session. We may see a small retracement to 211.30 - 211.50 area before that fall,

imran
agreed.
We may get a small bounce off the 210.3 area to 211.45 tops.
Then, down.

But, as always, the 209 is a prediction.
No one knows where she'll go.

Just ride the beast best you can.

Trade what you see.

I'll be out for a bit now..... back for Tokyo open.
  • #1,629
  • Feb 18, 2008 12:43pm Feb 18, 2008 12:43pm
Quoting kujo17
Patience

We should see 208.8 area by mid London.
30m, 1H and 4H are all pointing south, making lower Highs.......
She's going down, but slow as hell, due to US holiday.

I've posted a 1H and Daily chart a few times showing Fib retrace lines.

This is a classic 5 wave move down and then the 3 wave correction move up, which will bring us to 217 area.

She could range for 36 hours and tank 300 pips in 2 hours.

This is the BEAST....... patience is needed to slay her.


thanks for the explanation...what did u mean with this?..sorry...im still new...

Quote
This is a classic 5 wave move down and then the 3 wave correction move up, which will bring us to 217 area.
  • #1,630
  • Feb 18, 2008 1:12pm Feb 18, 2008 1:12pm
Haha, well, when I trade live again start next Monday session, I won't trade at all during any major U.S. Holidays. It'll be a vacation day for me the to relax, market is too dead/unstable for me to trade anyways during a U.S. Holiday.
  • #1,631
  • Feb 18, 2008 1:20pm Feb 18, 2008 1:20pm
Quoting oly
thanks for the explanation...what did u mean with this?..sorry...im still new...
Market moves in waves, some/most think.

Usually it's a move in 5 waves up or down and then a 3 move in the opposite direction before continuing the trend in the way of the 5 wave move.

search for Elliot Waves theory for a in depth look.
  • #1,632
  • Edited 1:48pm Feb 18, 2008 1:30pm | Edited 1:48pm
Quoting kujo17
Everyone is entitled to their opinion and interpretation.

Looking at the Daily chart, to me, we certainly will get a 61.8 fib retrace to the 209 area.

Also, all the longer TFs are pointing south.

WE get by the 210.50 area and then the 210.1 area and we're at 209.

I respect Karmo very much, but he is human and this if Forex.
He is NOT 100% right.

We'll just have to wait and see what happens.

Either way, I'm short from 213, 212 and 211.8 area.
I'm in profits, nicely......

If it turns around on the longer TFs, I'll go long, but until then, I'm short.

Also, we need a close above the 200ema on the 4H to get to 217.

We didn't break it the other day...... we'll just have to wait and see.

Spoil my party ? Nope........ Just trading what I see.

209, then up to 217.

daily chart....... 61.8 will be touched..... won't be closed below, but will get touched and my TPs will be hit.
http://forexfactory.com/attachment.p...3&d=1203096858
Hi Kujo!

Guess you misinterpreted my "not to spoil your party" - I did not insinuate that you are wrong and I am right! I just wanted to express another view and it may in fact be right that we see 209.30 tomorrow.

Have a good birthday. Sorry for the misunderstanding.
Ciao
Matt
  • #1,633
  • Feb 18, 2008 5:08pm Feb 18, 2008 5:08pm
Happy birthday, Kujo!
Attached Image
  • #1,634
  • Edited 6:09pm Feb 18, 2008 5:29pm | Edited 6:09pm
Yo peeps....Am I correct in saying we are close to a 15min trade going short?

Looks like just need the QQE60 to cross the 50 line on the 15min chart.

1Hr chart shows we are below the 50sma.

4hr show we are below the 5sma.

I have the pivot point at 211.10

Price is below PP on the 1hr chart.



I am thinking it is trade time as the 15min chart QEE60 crosses.

Stop level reverse is about to indicate down too....on the 15min chart.
Life's a bitch....so be a dog and cover it!
  • #1,635
  • Feb 18, 2008 6:42pm Feb 18, 2008 6:42pm
Quoting Gnat
Hi Kujo!

Guess you misinterpreted my "not to spoil your party" - I did not insinuate that you are wrong and I am right! I just wanted to express another view and it may in fact be right that we see 209.30 tomorrow.

Have a good birthday. Sorry for the misunderstanding.
Ciao
Matt
Matt,

OH man, I wasn't insulted at all.
Text is just hard to interperate all the time.......

I totally agree with you and karmo, 217 is in the near future.

I just think we'll get down to 208.8 area first, to end wave 5 before the 3 wave move up to 217.

With a break of 210.5 and then 210.3 area, we'll go down a bit more.

I'm in profit now, so if she turns on me, I'll cash out and go long.

I trade what the charts tell me, just predicting a lower low before the move up.

If it doesn't happen, I'll trade accordingly.

209.0 by Mid London...........

Yesterdays Daily bar was bearish still.
So, I think more down will come.

If not by London, by a the time the Dow tanks tomorrow am !
  • #1,636
  • Feb 18, 2008 8:17pm Feb 18, 2008 8:17pm
Here's my Asian session daily pivots:
Attached Image
  • #1,637
  • Feb 18, 2008 8:24pm Feb 18, 2008 8:24pm
I'd prefer to see a break out of this range, before doing anything but scalping. But things are looking pretty bearish at the moment.
  • #1,638
  • Feb 18, 2008 9:34pm Feb 18, 2008 9:34pm
Here is a 1H chart.

Notice the 2 hits of the 50 fib on the last move down.
Then, notice the lower low and 2 hits of the 38.2 fib.
Now, a lower low and the last 5 1H bars closed below the 211 area of the 23.6 fib.

Volume is diminishing and CCI is trading closer to the 0 line.

A breakout is on the way.

I still think it's bearish, by the lower lows/highs, etc.
209.6 is probably a good bet now.

30m, 1H and 4H are all pointing down.
All trading below the DP and the Gann HiLo

Added another short back up at 211.17.

Short from 213, 212, 211.8 and 211.17
TP's at 209.6, but will asses if they get close, to hold out for 209.0
But, won't get greedy.

If the market turns up on the 30m and then 1H, I'll cash out and go long.

But, usually until the 4H turns up, I'll stay short for the time being.

Off to put my son to bed.... be back in a bit.
Attached Image (click to enlarge)
Click to Enlarge Name: 1H fibsss.jpg Size: 327 KB
  • #1,639
  • Feb 18, 2008 9:49pm Feb 18, 2008 9:49pm
Quoting Pips_Cruiser
Here's my Asian session daily pivots:
Same as mine. At least we know for sure today we're correct with our pivots. ^^
  • #1,640
  • Feb 18, 2008 9:57pm Feb 18, 2008 9:57pm
another way to look at it.......

A break out is on the way..... just which way......

still below the DP, Gann HiLo and higher TFs still pointing down......

crap shoot at this point..... kinda
Attached Image (click to enlarge)
Click to Enlarge Name: TLs.jpg Size: 300 KB
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