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Karmo's trading strategy trading GBP/JPY

  • #261
  • Mar 10, 2008 12:50pm Mar 10, 2008 12:50pm
I just got back home and it seems the breakout happened to the downside, always be ready to adapt to any situation

Lemme check the charts.
Trade what you see, not what you think.
  • #262
  • Mar 10, 2008 1:16pm Mar 10, 2008 1:16pm
Price has broken to the downside but we have some support beneath where price is now.. so

Weekly S1 @ 204
Monthly S1 @ 203.55

If price breaches these 2, we will see new low's but if price closes above the 1H gann and QQE crosses upwards, then we'll climb back up to 206-207 area.
Trade what you see, not what you think.
  • #263
  • Mar 10, 2008 1:20pm Mar 10, 2008 1:20pm
I just drew a new trendline (red) and price seems to be bouncing off it, I don't know if price is really respecting that or not, but keep an eye on it.
http://img375.imageshack.us/img375/1220/gjcq5.gif
Trade what you see, not what you think.
  • #264
  • Mar 10, 2008 1:26pm Mar 10, 2008 1:26pm
I enjoy the thread. Thanks for all to the input. Where can I go to download the Gann and QQE indicators that all of you mention? TKS
Price does what price wants , I just need to be prepared.
  • #265
  • Mar 10, 2008 1:40pm Mar 10, 2008 1:40pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting PJkiller
I enjoy the thread. Thanks for all to the input. Where can I go to download the Gann and QQE indicators that all of you mention? TKS
hope these are the most recent versions, Karmo will let us know but they work for me.

Attached File(s)
File Type: ex4 ###Gann_HiLo_Activator_v2###.ex4   2 KB | 617 downloads


Attached File(s)
File Type: ex4 ###QQE_Alert_MTF_v5###.ex4   19 KB | 619 downloads


Attached File(s)
File Type: ex4 ###Momentum###.ex4   2 KB | 701 downloads
  • #266
  • Mar 10, 2008 1:46pm Mar 10, 2008 1:46pm
How do i save them and what file do you use to do it?
Price does what price wants , I just need to be prepared.
  • #267
  • Mar 10, 2008 1:57pm Mar 10, 2008 1:57pm
we trade with a very similar way i just dont use Fibo... to many lines confuses me i like to keep it as simple as possible . Keep up the GOOD WORK you got a great thread with very useful info going on !!!

sorry i mean Karmo!!
  • #268
  • Mar 10, 2008 2:22pm Mar 10, 2008 2:22pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting PJkiller
How do i save them and what file do you use to do it?
save them to your MT4 expert/indicator folder (this is my location C:\Program Files\MetaTrader 4\experts\indicators), restart your mt4 platform and they will be at the top of your custom indicator list in the navigator window.

if your navigator window is not showing, go to view and click it, it will pop up at either the left side or bottom of your platform area.
  • #269
  • Mar 10, 2008 2:27pm Mar 10, 2008 2:27pm
Quoting MPP
hope these are the most recent versions, Karmo will let us know but they work for me.

Attachment

Attachment

Attachment
Good post MPP, thanks for helping out the newbie's
Trade what you see, not what you think.
  • #270
  • Mar 10, 2008 2:29pm Mar 10, 2008 2:29pm
Quoting JK$$$
we trade with a very similar way i just dont use Fibo... to many lines confuses me i like to keep it as simple as possible . Keep up the GOOD WORK you got a great thread with very useful info going on !!!

sorry i mean Karmo!!

lol calm down JK, Fibo is a great magic tool once you know how to use it properly

Keep checking the analysis and you'll find out the beauty of fibo with this beast.
Trade what you see, not what you think.
  • #271
  • Mar 10, 2008 2:38pm Mar 10, 2008 2:38pm
New Daily momentum on VT is bearish
Daily Gann moved down to 208

we could see a retest of the low at 203
Attached Image
Trade what you see, not what you think.
  • #272
  • Mar 10, 2008 2:41pm Mar 10, 2008 2:41pm
Quoting karmostaji
lol calm down JK, Fibo is a great magic tool once you know how to use it properly

Keep checking the analysis and you'll find out the beauty of fibo with this beast.
you might be right (dont take me wrong i am not saying not to use it its just confuses me personally) just getting mix up with my lines and loosing focus of my plan....like them naked the way stripers do so you can see the real bodies how they look

thank you thou the true is that i never really got into analyzing fibo and the benefits of it!
  • #273
  • Mar 10, 2008 3:01pm Mar 10, 2008 3:01pm
Quoting jarroo
Tough to say, I enter at 205.09 - the low of the DBHLC. May be if it retraces back to 205.00 it could be a nice short trade.
Took half off with 102 pips other half at b/e. What a great day.
Indicators show the past. Price Action "Indicates" the future.
  • #274
  • Mar 10, 2008 3:06pm Mar 10, 2008 3:06pm
Quoting jarroo
Took half off with 102 pips other half at b/e. What a great day.
Nice one jarroo

Price still has room to retest the low and maybe make a new low at 203 but if GU wants to tank more then I don't know.

The DOW also shows very bullish weekly momentum, I don't know what's up with these very bullish weekly momentums, is it trying to fool me or they're going to play out during/end of the week and surprise everyone..
Trade what you see, not what you think.
  • #275
  • Mar 10, 2008 3:14pm Mar 10, 2008 3:14pm
Quoting karmostaji
Nice one jarroo

Price still has room to retest the low and maybe make a new low at 203 but if GU wants to tank more then I don't know.

The DOW also shows very bullish weekly momentum, I don't know what's up with these very bullish weekly momentums, is it trying to fool me or they're going to play out during/end of the week and surprise everyone..
Thanks, Karmo. The momentum analysis has me still baffled, but I trust yours and Aus anayisis on it. It has proven true for you in the past.

You may have noticed on my chart that I have added the gann hilo and QQE. This is out of respect for your thread and I may just use it as a confirmation (dare I say) indicator.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #276
  • Mar 10, 2008 3:24pm Mar 10, 2008 3:24pm
Quoting jarroo
Thanks, Karmo. The momentum analysis has me still baffled, but I trust yours and Aus anayisis on it. It has proven true for you in the past.

You may have noticed on my chart that I have added the gann hilo and QQE. This is out of respect for your thread and I may just use it as a confirmation (dare I say) indicator.

Jim
GU wants to go down, UJ is like on hold but momentum for UJ is bullish..
I don't know if the monster in UJ is going to suddenly wake up and eat everyone alive or what LOL (it's 2:22 am forgive me)

Good stuff, QQE and the gann are great indicators once you get used to them but always keep in mind that they can also give fake signals at times, that's why I use other stuff so I get confirmations from 2-3 different places and then come to a conclusion.
Trade what you see, not what you think.
  • #277
  • Mar 10, 2008 3:32pm Mar 10, 2008 3:32pm
Quoting karmostaji
Price has broken to the downside but we have some support beneath where price is now.. so

Weekly S1 @ 204
Monthly S1 @ 203.55

If price breaches these 2, we will see new low's but if price closes above the 1H gann and QQE crosses upwards, then we'll climb back up to 206-207 area.
Price bouncing off weekly s1 for now, if we get a 1H QQE cross and candle close above the gann, I'll add a long to my positions.
Trade what you see, not what you think.
  • #278
  • Mar 10, 2008 3:35pm Mar 10, 2008 3:35pm
Quoting karmostaji
GU wants to go down, UJ is like on hold but momentum for UJ is bullish..
I don't know if the monster in UJ is going to suddenly wake up and eat everyone alive or what LOL (it's 2:22 am forgive me)

Good stuff, QQE and the gann are great indicators once you get used to them but always keep in mind that they can also give fake signals at times, that's why I use other stuff so I get confirmations from 2-3 different places and then come to a conclusion.
If anything, I have found that the QQE and Gann helps determine the overall trend. I have been looking at Price Action signals with the trend for high probability trades. Today's DBHLC is a perfect example. (Downtrend; bearish Price Action). However, Price Action has proven itself as good trend reversal formations. (e.g., Pin Bars)
Indicators show the past. Price Action "Indicates" the future.
  • #279
  • Mar 10, 2008 3:38pm Mar 10, 2008 3:38pm
Here's another thing I like to watch, harmonic patterns.
We currently have a bullish butterfly on 1H TF (not a perfect one, but it's valid)

Targets are the fib lines, as you all know 50% is the favorite.
Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 29 KB
Trade what you see, not what you think.
  • #280
  • Mar 10, 2008 3:39pm Mar 10, 2008 3:39pm
Quoting jarroo
If anything, I have found that the QQE and Gann helps determine the overall trend. I have been looking at Price Action signals with the trend for high probability trades. Today's DBHLC is a perfect example. (Downtrend; bearish Price Action). However, Price Action has proven itself as good trend reversal formation. (e.g., Pin Bars)
That's true, they do indeed.

At the end of the day, Price Action is king no doubt about it.
Trade what you see, not what you think.
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