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Karmo's trading strategy trading GBP/JPY

  • #221
  • Mar 10, 2008 1:20am Mar 10, 2008 1:20am
Quoting karmostaji
Ok, very interesting stuff!
New weekly momentum is VERY BULLISH, opposite what I was expecting so we have to be very careful.. keep an eye on the Daily gann, if price breaks above and closes above then we are going much higher, I'll figure out later where price might go (falling asleep here it's 4am lol)
since momentum is extremely bullish, I'm concentrating more on the bulls for now. A daily close above 209.50 which is the Daily gann hilo will be great for the bulls, here's a chart..
Attached Image
Trade what you see, not what you think.
  • #222
  • Mar 10, 2008 1:21am Mar 10, 2008 1:21am
Quoting ultimate
Also the PPI data out tonight should show inflation and will be GBP bullish but they will probably take GBPUSD down to take out the stops below. We know the drill right?

GBPJPY should go up after the news.
Jarroo once said "Price is News, News is Price"
Trade what you see, not what you think.
  • #223
  • Mar 10, 2008 1:29am Mar 10, 2008 1:29am
Quoting karmostaji
Jarroo once said "Price is News, News is Price"
That's right , except for the 1st Friday of the month.
Indicators show the past. Price Action "Indicates" the future.
  • #224
  • Mar 10, 2008 1:32am Mar 10, 2008 1:32am
Quoting karmostaji
Jarroo once said "Price is News, News is Price"
What do you think of this?
http://www.forexfactory.com/showthre...0582&page=1674

It coincides with your trades right?
  • #225
  • Mar 10, 2008 1:34am Mar 10, 2008 1:34am
Quoting karmostaji
since momentum is extremely bullish, I'm concentrating more on the bulls for now. A daily close above 209.50 which is the Daily gann hilo will be great for the bulls, here's a chart..
The Daily gann hilo also coincides with the Daily trendline and the Daily 50ema, so the 209.50 is a very important and strong area, it will be a do or die mission for the bulls if price gets there, if they don't break it then price will fall the same way it did last time it went up to 213 area. here's the daily TL
Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 28 KB
Trade what you see, not what you think.
  • #226
  • Mar 10, 2008 1:36am Mar 10, 2008 1:36am
Quoting ultimate
What do you think of this?
http://www.forexfactory.com/showthre...0582&page=1674

It coincides with your trades right?
Yes, 209.50 is the area, either breaks it or a big bounce off it, since weekly momentum is very bullish I'd expect it to break but we have to wait and see.
Trade what you see, not what you think.
  • #227
  • Mar 10, 2008 1:44am Mar 10, 2008 1:44am
Nice Daily Pin Bar on the USDJPY, at a trend line. Let's see if it proves true.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #228
  • Mar 10, 2008 1:48am Mar 10, 2008 1:48am
205.45 has a S/R history
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #229
  • Mar 10, 2008 2:18am Mar 10, 2008 2:18am
Quoting jarroo
Nice Daily Pin Bar on the USDJPY, at a trend line. Let's see if it proves true.
hope you right, but it's not the nicest pinbar I've seen ;-)
  • #230
  • Mar 10, 2008 2:20am Mar 10, 2008 2:20am
Quoting jarroo
Nice Daily Pin Bar on the USDJPY, at a trend line. Let's see if it proves true.
but yea, probably true!!
  • #231
  • Mar 10, 2008 2:22am Mar 10, 2008 2:22am
Quoting rob4u
hope you right, but it's not the nicest pinbar I've seen ;-)
We'll see. Only time will tell. There is usually a retrace on higher time framed Price Action.
Indicators show the past. Price Action "Indicates" the future.
  • #232
  • Mar 10, 2008 2:23am Mar 10, 2008 2:23am
Adjusted the bullish channel a little, it's looking much better n clearer now.
Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 25 KB
Trade what you see, not what you think.
  • #233
  • Mar 10, 2008 2:37am Mar 10, 2008 2:37am
hey karmo i just wanted to apologize for being a jerk to you earlier...hopefully we can both make money together and forget about what happened..
  • #234
  • Mar 10, 2008 2:41am Mar 10, 2008 2:41am
Quoting samdelgado
hey karmo i just wanted to apologize for being a jerk to you earlier...hopefully we can both make money together and forget about what happened..
I always forget n forgive, welcome to the thread & enjoy
Trade what you see, not what you think.
  • #235
  • Mar 10, 2008 2:43am Mar 10, 2008 2:43am
thanks man...so in your analysis you see this going to 209.50 today or just eventually this week?
  • #236
  • Mar 10, 2008 2:44am Mar 10, 2008 2:44am
Quoting samdelgado
hey karmo i just wanted to apologize for being a jerk to you earlier...hopefully we can both make money together and forget about what happened..
There's nothing wrong with contradictory comments, just so long you back it up with analysis and a chart or two. We are all friends here, my brother.
Indicators show the past. Price Action "Indicates" the future.
  • #237
  • Mar 10, 2008 2:47am Mar 10, 2008 2:47am
Quoting samdelgado
thanks man...so in your analysis you see this going to 209.50 today or just eventually this week?
If there are no surprises, we should see 50% (208.50) today/tomorrow
Trade what you see, not what you think.
  • #238
  • Mar 10, 2008 2:58am Mar 10, 2008 2:58am
Quoting karmostaji
If there are no surprises, we should see 50% (208.50) today/tomorrow
  • #239
  • Mar 10, 2008 2:59am Mar 10, 2008 2:59am
Quoting jarroo
Sounds good to me. I plan on adding to the position at a nice break of the 205.90.
Add at 205.90. Let's see what happens.
Indicators show the past. Price Action "Indicates" the future.
  • #240
  • Mar 10, 2008 3:01am Mar 10, 2008 3:01am
Quoting karmostaji
If there are no surprises, we should see 50% (208.50) today/tomorrow
New 4H momentum is bullish
Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 29 KB
Trade what you see, not what you think.
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