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Karmo's trading strategy trading GBP/JPY

  • #281
  • Mar 10, 2008 8:04pm Mar 10, 2008 8:04pm
Alert commentery on forex - Watch for verbal Intervention
  • #282
  • Mar 11, 2008 12:42am Mar 11, 2008 12:42am
Quoting webstakes
Alert commentery on forex - Watch for verbal Intervention
Please explain???
  • #283
  • Mar 11, 2008 12:53am Mar 11, 2008 12:53am
Double bottom @ 203.50 ?

It sure does look like it, and price is trading above the 1H gann hilo, waiting 7 more mins for it to close there and then launch a long
Trade what you see, not what you think.
  • #284
  • Mar 11, 2008 1:02am Mar 11, 2008 1:02am
Hourly candle closed above the Gann hilo, momentum slightly bearish indicating a retracement to the 1H 5sma, that's where I'll launch my long.
Attached Image
Trade what you see, not what you think.
  • #285
  • Mar 11, 2008 1:20am Mar 11, 2008 1:20am
Quoting jarroo
So, you don't wait for a retrace to the 5 sma on the hourly and take your long from there?
lol you should but actually I took mine a bit earlier

but according to aus's method, you would wait for 1H retracement to 5sma or 30m if trend is too strong, you just need to check the momentum at the beginning of the candle and be able to read it just by looking at the angle of it.
Trade what you see, not what you think.
  • #286
  • Mar 11, 2008 1:23am Mar 11, 2008 1:23am
Quoting karmostaji
lol you should but actually I took mine a bit earlier

but according to aus's method, you would wait for 1H retracement to 5sma or 30m if trend is too strong, you just need to check the momentum at the beginning of the candle and be able to read it just by looking at the angle of it.
Oh yeah, I remember. I deleted my dumb question.
Indicators show the past. Price Action "Indicates" the future.
  • #287
  • Mar 11, 2008 1:27am Mar 11, 2008 1:27am
Quoting jarroo
Oh yeah, I remember. I deleted my dumb question.
no question is a dumb one, so ask anything you wish my friend
Trade what you see, not what you think.
  • #288
  • Mar 11, 2008 1:30am Mar 11, 2008 1:30am
Quoting karmostaji
no question is a dumb one, so ask anything you wish my friend
Wow, look at it go. I'll wait for the retrace to the 5 sma.
Indicators show the past. Price Action "Indicates" the future.
  • #289
  • Mar 11, 2008 2:38am Mar 11, 2008 2:38am
Quoting karmostaji
New Daily momentum on VT is bearish
Daily Gann moved down to 208

we could see a retest of the low at 203

The bears must have exusted their fuel by now on GJ. Even if the Japanies govt fails to intervene, sentiment of traders will push up the pair. Moreso,
the pair is already oversold. Am already long on the pair since it failed to break its low on the 3rd of March(daily chart).
God is good
  • #290
  • Mar 11, 2008 2:48am Mar 11, 2008 2:48am
hi karmo
what do you think about gj in this situation ?
  • #291
  • Mar 11, 2008 2:50am Mar 11, 2008 2:50am
Quoting danryman78
hi karmo
what do you think about gj in this situation ?
Longs should be good until 4H Gann hilo (btw it will update in 10 mins), then we have to see if price can close above it.
Trade what you see, not what you think.
  • #292
  • Mar 11, 2008 4:36am Mar 11, 2008 4:36am
Quoting karmostaji
Longs should be good until 4H Gann hilo (btw it will update in 10 mins), then we have to see if price can close above it.
Right!! , feel so frastrated that i closed my longs at 204.25 ur patience won again, iam loozer
  • #293
  • Mar 11, 2008 5:18am Mar 11, 2008 5:18am
Quoting Jerry
Right!! , feel so frastrated that i closed my longs at 204.25 ur patience won again, iam loozer
Relax, ..... Green pip is still Green.. dont worry about whats left on the table, Its hindsight. there is always tomorrow
  • #294
  • Mar 11, 2008 6:17am Mar 11, 2008 6:17am
Quoting karmostaji
Longs should be good until 4H Gann hilo (btw it will update in 10 mins), then we have to see if price can close above it.
Everything is looking great, if anyone entered when the candle closed above 1H gann then you should be up +150 pips by now

4H candle closes in 40 mins, let's see if it closes above the 4H gann
Trade what you see, not what you think.
  • #295
  • Mar 11, 2008 6:35am Mar 11, 2008 6:35am
Quoting karmostaji
Everything is looking great, if anyone entered when the candle closed above 1H gann then you should be up +150 pips by now

4H candle closes in 40 mins, let's see if it closes above the 4H gann
Karmo, what is the upper limit for this trend.
  • #296
  • Mar 11, 2008 6:37am Mar 11, 2008 6:37am
Quoting sieb_ila
Karmo, what is the upper limit for this trend.
4H 50ema @ 206.60

I'm waiting for new 4H momentum to see if we will get any significant retrace or it'll continue upwards.

1H QQE still has room to move price upwards.
Trade what you see, not what you think.
  • #297
  • Mar 11, 2008 7:46am Mar 11, 2008 7:46am
Whoever followed todays analysis should be partying now

Trading is not hard, you need discipline, patience, good MM, and a plan
Trade what you see, not what you think.
  • #298
  • Mar 11, 2008 7:47am Mar 11, 2008 7:47am
Quoting karmostaji
Whoever followed todays analysis should be partying now

Trading is not hard, you need discipline, patience, good MM, and a plan
Congratulation friend...
  • #299
  • Mar 11, 2008 8:10am Mar 11, 2008 8:10am
Quoting karmostaji
Whoever followed todays analysis should be partying now

Trading is not hard, you need discipline, patience, good MM, and a plan

Congratulations,
I do follow your thoughts even if I do trade my plans
I do agree, only it takes is to find correct entry and exits once someone can be disciplined, patient and have have good MM.
  • #300
  • Mar 11, 2008 8:12am Mar 11, 2008 8:12am
Quoting HidaBull
Congratulations,
I do follow your thoughts even if I do trade my plans
I do agree, only it takes is to find correct entry and exits once someone can be disciplined, patient and have have good MM.
Always trade your own plan, I look at everyone's thought but at the end I trade what I see and how I interpret the chart

Let's continue collecting those lovely green pips
Trade what you see, not what you think.
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