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Karmo's trading strategy trading GBP/JPY

  • #301
  • Mar 11, 2008 8:40am Mar 11, 2008 8:40am
Karmo,
The 4hr candle didn't close above Gann hilo, and you entered when 1hr crossed it. Why? Based on expirience or some addition to Aus system?
tHANK You!
If you do - don't be afraid, if you are afraid - don't do
  • #302
  • Mar 11, 2008 8:42am Mar 11, 2008 8:42am
Quoting koltri
Karmo,
The 4hr candle didn't close above Gann hilo, and you entered when 1hr crossed it. Why? Based on expirience or some addition to Aus system?
tHANK You!
Price reached a strong support (203.50) and 1H QQE was touching oversold (30 area), those were signs of a temporary bottom but I waited for 1H QQE to cross n candle to close above the gann for confirmation before pulling the trigger.
Trade what you see, not what you think.
  • #303
  • Mar 11, 2008 8:48am Mar 11, 2008 8:48am
Karmo,
So we really don't have to always check the 4hr chart, and only base entry on 1hr Aus setup plus a few more indicators?
Thank you,
I'm learning the Aus princip
If you do - don't be afraid, if you are afraid - don't do
  • #304
  • Mar 11, 2008 8:54am Mar 11, 2008 8:54am
Quoting koltri
Karmo,
So we really don't have to always check the 4hr chart, and only base entry on 1hr Aus setup plus a few more indicators?
Thank you,
I'm learning the Aus princip
Not always because sometimes the 1H QQE can give you a false signal so you have to be careful. It will depend on the situation at the time.
Trade what you see, not what you think.
  • #305
  • Mar 11, 2008 10:15am Mar 11, 2008 10:15am
great analysis karmo, Im learning live trading from you, thanks a lot.

Whats next?
price reached 207.50 resistance, so probably it will stall.
However, on 4H, price just makes a candle above Gann, which should give bulls more strength, and QQE also is crossing upwards, but still under 50. Momentum strongly pointing up.
On 1H, we have a bit bearish momentum, indicating a retracement to a fib level of the last wave, maybe 206 or 1H Gann at 205.50.

I suppose 205.50 would be a good place to buy.

What do you think?
We leave no soldier behind.
  • #306
  • Mar 11, 2008 10:15am Mar 11, 2008 10:15am
Everything is looking bullish at the moment, if the day ends around here or so, most probably I'll be buying dips.

I closed a couple of longs here just to take some off the table and buy at lower prices.

Let's see what the momentum has got to tell us, new 4H momentum in 45 mins.
Trade what you see, not what you think.
  • #307
  • Mar 11, 2008 10:17am Mar 11, 2008 10:17am
Quoting gagiul
great analysis karmo, Im learning live trading from you, thanks a lot.

Whats next?
price reached 207.50 resistance, so probably it will stall.
However, on 4H, price just makes a candle above Gann, which should give bulls more strength, and QQE also is crossing upwards, but still under 50. Momentum strongly pointing up.
On 1H, we have a bit bearish momentum, indicating a retracement to a fib level of the last wave, maybe 206 or 1H Gann at 205.50.

I suppose 205.50 would be a good place to buy.

What do you think?
Sounds good, but I'll wait for the new 4H candle before I update my analysis
Trade what you see, not what you think.
  • #308
  • Mar 11, 2008 11:14am Mar 11, 2008 11:14am
New 4H momentum is bullish but the candle couldn't close above the 4H 50ema again, so we might go back down to low 205's (61.8% of todays bull-run) before we get another push up.

Things are a bit mixed at the moment, but watch for 1H/4H Gann hilo to provide support.
Trade what you see, not what you think.
  • #309
  • Mar 11, 2008 11:24am Mar 11, 2008 11:24am
Quoting karmostaji
Whoever followed todays analysis should be partying now

Trading is not hard, you need discipline, patience, good MM, and a plan
Excellent, as always, Karmo. I was going to take the retrace to the 5 sma on the hourly right after Price move above the gann, but I didn't, when to sleep instead. And is it always the case, Price moves nearly 300 pips .

Great work again.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #310
  • Mar 11, 2008 11:49am Mar 11, 2008 11:49am
karmo, fell so idiotical now, that i lost so good positsion for long fell now as a real noob
  • #311
  • Mar 11, 2008 12:05pm Mar 11, 2008 12:05pm
Quoting jarroo
Excellent, as always, Karmo. I was going to take the retrace to the 5 sma on the hourly right after Price move above the gann, but I didn't, when to sleep instead. And is it always the case, Price moves nearly 300 pips .

Great work again.

Jim
Sleep comes before pips, so no worries my friend
Trade what you see, not what you think.
  • #312
  • Mar 11, 2008 12:06pm Mar 11, 2008 12:06pm
Quoting Jerry
karmo, fell so idiotical now, that i lost so good positsion for long fell now as a real noob
It happens to all of us so don't feel lonely, we learn from our mistakes. Take a bit of time and think about what you did and what happened today, realize your mistakes and think of how you can avoid them next time.

Basically analyze yourself
Trade what you see, not what you think.
  • #313
  • Mar 11, 2008 1:55pm Mar 11, 2008 1:55pm
Quoting karmostaji
It happens to all of us so don't feel lonely, we learn from our mistakes. Take a bit of time and think about what you did and what happened today, realize your mistakes and think of how you can avoid them next time.

Basically analyze yourself
karmo look at this charts , what do u think

Today:
http://lidpluss.com/fx/031108-3.jpg


In Jan.
http://lidpluss.com/fx/031108-2.jpg
  • #314
  • Mar 11, 2008 3:18pm Mar 11, 2008 3:18pm
Karm,looks like the daily candle get through the gann line(but we need a new daily candle to open above it).At 207.70 on 4h we have 100 ema(maybe it should play a though resistance area) and the 1h qqe looks overbought!Maybe a retracement soon to the 1h gann?!How do u think?
  • #315
  • Mar 11, 2008 4:04pm Mar 11, 2008 4:04pm
New daily momentum is very bullish and the daily gann is just above, if tomorrow's candle closes above the daily gann then say hello to 213.50 and then 217

Remember also that the weekly momentum was extremely bullish!
Attached Image
Trade what you see, not what you think.
  • #316
  • Mar 11, 2008 4:20pm Mar 11, 2008 4:20pm
Quoting karmostaji
New daily momentum is very bullish and the daily gann is just above, if tomorrow's candle closes above the daily gann then say hello to 213.50 and then 217

Remember also that the weekly momentum was extremely bullish!
very true. So I suppose the retracement before the resuming of the upward move should be shallow, since even the momentum on 1H is bullish-flat, but not pointing down. I expect a reversal to 206.50 bf upward moving resumes.

Edit: Moreover, yesterday candle makes a perfect DBLHC with friday, it comes right after support, so if this baby doesnt go up today, it means that i waste my time on forex.
We leave no soldier behind.
  • #317
  • Edited 4:36pm Mar 11, 2008 4:21pm | Edited 4:36pm
Quoting Jerry
karmo, fell so idiotical now, that i lost so good positsion for long fell now as a real noob
Jerry, I want you to read some thing that is rather long but will be well worth your time. It's from the James16 chart thread, by a guy named "the wizard".
I read it from time to time. It's excellent and could change your trading mind for the better.

http://forexfactory.com/showpost.php...postcount=3504

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #318
  • Mar 11, 2008 4:29pm Mar 11, 2008 4:29pm
Quoting gagiul
very true. So I suppose the retracement before the resuming of the upward move should be shallow, since even the momentum on 1H is bullish-flat, but not pointing down. I expect a reversal to 206.50 bf upward moving resumes.

Edit: Moreover, yesterday candle makes a perfect DBLHC with friday, it comes right after support, so if this baby doesnt go up today, it means that i waste my time on forex.
My strategy for tomorrow is to buy any dip, simple
Trade what you see, not what you think.
  • #319
  • Mar 11, 2008 4:41pm Mar 11, 2008 4:41pm
Quoting jarroo
Jerry, I want you to read some thing that is rather long but will be well worth your time. It's from the James16 chart thread, by a guy named "the wizard".
I read it from time to time. It's excellent and could change your trading mind for the better.

http://forexfactory.com/showpost.php...postcount=3504

Jim
thx i'll
  • #320
  • Mar 11, 2008 6:19pm Mar 11, 2008 6:19pm
Quoting karmostaji
My strategy for tomorrow is to buy any dip, simple

I reckon this should retrace at least 80pips down to pick up steam for a ride up to 209.
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