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GBP/JPY for QQE Traders!

  • #1,821
  • Feb 20, 2008 2:56am Feb 20, 2008 2:56am
Quoting Nobitacu
Hello wolfeman.
Thanks man. This seems like a great place to hang out...my previous "home" thread has become EA central, no live traders there anymore....
  • #1,822
  • Feb 20, 2008 2:57am Feb 20, 2008 2:57am
what do your charts tell you oly?

Quoting oly
is it too late to open long now?..tp?..
  • #1,823
  • Feb 20, 2008 2:58am Feb 20, 2008 2:58am
wow you guys are seriously thinking the pair will go up?

dont have a single long signal but hey good luck. I am looking into entering a short position but looking for a nice setup first. 209.70 would be a good area. but still not going to take a position before the news.
  • #1,824
  • Feb 20, 2008 3:00am Feb 20, 2008 3:00am
Quoting Bernanke_Sr
wow you guys are seriously thinking the pair will go up?

dont have a single long signal but hey good luck. I am looking into entering a short position but looking for a nice setup first. 209.70 would be a good area. but still not going to take a position before the news.
Yea, it really all comes down to what the news does when it's released in half an hour. I'm being pretty careful right now as well while waiting for a trade to come my way.
  • #1,825
  • Feb 20, 2008 3:02am Feb 20, 2008 3:02am
Quoting Sith Lord
what do your charts tell you oly?
well...my charts is showing bullish now...but not too strong...
  • #1,826
  • Feb 20, 2008 3:03am Feb 20, 2008 3:03am
Quoting wolfeman
Thanks man. This seems like a great place to hang out...my previous "home" thread has become EA central, no live traders there anymore....
This place is a great place to talk trades and charts. Many live traders here who are more than willing to help each other out and teach each other new things each day. I love this thread, and it's growing faster and faster each day. But yea, we do try to keep things inside the core subject of this thread, which is about trading the QQE. No EAs here, all pure manual, just the way I like it.
  • #1,827
  • Feb 20, 2008 3:04am Feb 20, 2008 3:04am
Quoting Bernanke_Sr
wow you guys are seriously thinking the pair will go up?

dont have a single long signal but hey good luck. I am looking into entering a short position but looking for a nice setup first. 209.70 would be a good area. but still not going to take a position before the news.
It will eventually be going UP to 217, the 50.0 fib retrace.

But, I'm short right now from 210.80 and 210.47
  • #1,828
  • Feb 20, 2008 3:05am Feb 20, 2008 3:05am
Quoting Nobitacu
Yea, it really all comes down to what the news does when it's released in half an hour. I'm being pretty careful right now as well while waiting for a trade to come my way.
good call.. but so far my strategies say short as well.. But wil not listen to the devil before the news... I believe my friends who want to go long are counting on price cut already being priced in the market and even the there will be a cut, that wont effect pound negatively...

I still believe 9-0 cut should send gbp down lower a tad more.

but guess what? i have been wrong before.. Especially with thinking that cutting the US interests would fix the economy but did not.. Bush is angry with me
  • #1,829
  • Feb 20, 2008 3:05am Feb 20, 2008 3:05am
Quoting kujo17
It will eventually be going UP to 217, the 50.0 fib retrace.

But, I'm short right now from 210.80 and 210.47
of course it will.. but not now we shall see.
  • #1,830
  • Feb 20, 2008 3:07am Feb 20, 2008 3:07am
Quoting Sith Lord
what do your charts tell you oly?
what the bout you senior?... still no comment for this moment..
  • #1,831
  • Feb 20, 2008 3:08am Feb 20, 2008 3:08am
Quoting Bernanke_Sr
good call.. but so far my strategies say short as well.. But wil not listen to the devil before the news... I believe my friends who want to go long are counting on price cut already being priced in the market and even the there will be a cut, that wont effect pound negatively...

I still believe 9-0 cut should send gbp down lower a tad more.

but guess what? i have been wrong before.. Especially with thinking that cutting the US interests would fix the economy but did not.. Bush is angry with me
Haha, yea, just keep doing the only things the Feds know how to do on "solving" the economy and spending. Cut more rates, and print more money, then cut more rates again to try to solve the problem of printing more money, then cut more rates again... then... lol. It never stops.
  • #1,832
  • Feb 20, 2008 3:09am Feb 20, 2008 3:09am
What do you think is likely scenario if the base rate cut by 5.0%?
  • #1,833
  • Feb 20, 2008 3:09am Feb 20, 2008 3:09am
Good work.. Good analysis. So trade bulls with caution then, as you mentioned bulls aren't strong.

The bears have a nice hold at the moment. I think anything up to 210.00 is bear resistance - sure you might get 50 pip move up...but you probably get a 40 pip move back down trading in the 209.xx zone. You need news momentum for clean breaks.

My 1H and 15M are both bearish.

Quoting oly
well...my charts is showing bullish now...but not too strong...
  • #1,834
  • Feb 20, 2008 3:26am Feb 20, 2008 3:26am
Quoting Sith Lord
Good work.. Good analysis. So trade bulls with caution then, as you mentioned bulls aren't strong.

The bears have a nice hold at the moment. I think anything up to 210.00 is bear resistance - sure you might get 50 pip move up...but you probably get a 40 pip move back down trading in the 209.xx zone. You need news momentum for clean breaks.

My 1H and 15M are both bearish.
well thanks...
  • #1,835
  • Feb 20, 2008 3:31am Feb 20, 2008 3:31am
new is out, 8-1.
  • #1,836
  • Feb 20, 2008 3:33am Feb 20, 2008 3:33am
Quoting Nobitacu
new is out, 8-1.
so?..i dont know where it is going...
  • #1,837
  • Feb 20, 2008 3:34am Feb 20, 2008 3:34am
Quoting oly
so?..i dont know where it is going...
Little to no impact so far. I guess it's already in the price as others have said. So... I won't be entering anything, unless somehow a Buy confirms for me to enter. I already took +60 earlier... So I guess no lose for me today.
  • #1,838
  • Feb 20, 2008 3:35am Feb 20, 2008 3:35am
15M bullish! Sith what are your chats saying?
All the best things in life are free.
  • #1,839
  • Feb 20, 2008 3:39am Feb 20, 2008 3:39am
Price is still bearish at 209.43.

My 1H and 15M still bearish (QQE5 crossed down). I won't even start thinking of bulls until price reaches 210.10 minimum..you are fighting against bear strength. Need to go with the flow.

Quoting fx_lane
15M bullish! Sith what are your chats saying?
  • #1,840
  • Feb 20, 2008 3:39am Feb 20, 2008 3:39am
Well... I'm disappointed lol. Still no direction yet on my chart, slight bear to bearish on my M15 and slowly turning more bearish, but other than that, bears on other charts. I guess I'm going to bed then... Good luck everyone who will wait it out to see how this news will affect the direction of London... I need some sleep... Only side I'll take right now at this point is a long if that confirms, since short wise, my system can't confirm another for awhile, so closes I have to confirm again is a buy, but I won't be awake to see that I don't think...
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