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  • #61
  • Mar 12, 2008 2:48pm Mar 12, 2008 2:48pm
short from 206.17, TPd out at 205.50
  • #62
  • Mar 12, 2008 11:03pm Mar 12, 2008 11:03pm
Well, after a full DAY of trading, 304 pips Booked, 40 pips lost.
So, a net 264 pip day.
Most trades at 1 lot and the rest at .5 lot.

Seems we may have stalled out here, but not going to try and catch the falling knife.

I'll post my thoughts for my session, around 4-5am PST and try to call ALL my trades tomorrow and from here on out, here in my journal.

Good Nite
  • #63
  • Mar 13, 2008 1:49am Mar 13, 2008 1:49am
Awesome job Kujo ! I booked a few pips off the 204.00 area when she came down this morning and noticed their was some small resistance there.I do have one question on the qqe indicator that i downloaded tonight. Do you normally wait till the line crosses over or under the 50 line on the 5 min chart before entering.I did get in a little earlier because of the resistance there.Please keep posting i'm enjoying this.

Take care,Tex
  • #64
  • Mar 13, 2008 4:23am Mar 13, 2008 4:23am
Quoting tex123
Awesome job Kujo ! I booked a few pips off the 204.00 area when she came down this morning and noticed their was some small resistance there.I do have one question on the qqe indicator that i downloaded tonight. Do you normally wait till the line crosses over or under the 50 line on the 5 min chart before entering.I did get in a little earlier because of the resistance there.Please keep posting i'm enjoying this.

Take care,Tex
You can wait to cross the 50 line, but I don't.
On the 5M your just scalpin out 30-50 pips.
On the longer TFs, when you're looking for 100+ pips, I'd wait until the 50 cross, but if you ONLY scalp the direction of the 1H/4H trends, it can be anywhere.

I also use Fibs and TLs and if I get a hard cross of a TL I'll use that as confirmation as well.

kj
  • #65
  • Mar 13, 2008 4:43am Mar 13, 2008 4:43am
Good morning. 4:38am PST

Seems the 203.51 area bottom held last night.
Bums me out, as I had a buy limit order hit at 203.40, but chickened out when she touched 203.00 and kicked out for a loss.
If I had the guts to hold on, I'd be nicely in profits and reap some rewards when we hit 205.5 areas today. That's the breaks I guess.

Seems, we should probably see a 50.0 retrace up to 205.5 - 206 area.

I'm waiting for two things to happen before I go long, on a quick scalp.

1H bar to close above the Gann.
5/15M bar to break the upper TL and close.

5M, we're above the 10,20 and 50 SMA.
15M, we're just about there as well.

Good triggers we'll see some north before another fall to 203.5 area.
With a breach of that and a close, well........... good night !
  • #66
  • Mar 13, 2008 5:27am Mar 13, 2008 5:27am
with Upper TL breaks on most of the TFs and price being above the 5,10,20 and 50SMAs on the 5/15M chart, I'm long at 204.30

204.30, TP 205.50 area, 50.0 fib retrace on that last move up.
But, if 204.96 holds her up, I may punch out there and take my profits, as that is a good S/R level, along with 205.37 as well.
  • #67
  • Edited 8:38am Mar 13, 2008 6:45am | Edited 8:38am
Long: 204.33 actually. Punched out at 205.00 when it was rejected at 205.20.
61 pip profit x1

Current:
short at 204.28 with break of lower TL on the 5M and 30M
203.70 TP, but may drop that lower.

TP hit.
  • #68
  • Mar 13, 2008 8:38am Mar 13, 2008 8:38am
Short 204.90, at 1Hr upper TL rejection.

open TP.
  • #69
  • Edited 9:02am Mar 13, 2008 8:50am | Edited 9:02am
Quoting kujo17
Short 204.90, at 1Hr upper TL rejection.

open TP.
my be tp.
my chart 1h bullish
Attached Image (click to enlarge)
Click to Enlarge Name: gbp5dan15m.JPG Size: 124 KB
  • #70
  • Mar 13, 2008 8:58am Mar 13, 2008 8:58am
1H has been making lower highs, at the peaks. 10C Mom indicator is flat and turning down !
So, I'm selling at the top of the rallies.
4HQQE is down and we are in a down trend.

5M also just broke a lower TL.

15m and 30m have also made Lower Highs......

I'll TP around 203.80 on this one and ride up the rejection to short her again.

kj
  • #71
  • Mar 13, 2008 7:14pm Mar 13, 2008 7:14pm
been a bit busy during the day.

Two more shorts:

205.00 and 204.90, each x1 lot

TPd at 204.20, off to sleep.

Another good day.

390 Pips booked, 65 pips lost, +325 pips/day

See you all at 4am PST
  • #72
  • Mar 13, 2008 8:25pm Mar 13, 2008 8:25pm
Hi, Kujo:

I am so amazed about your success on scalping this pair. Are you still your following strategy on scalping? Thanks.

**************************************************************************************
Using:

• QQE indicator with smoothing factor 5
• Zero Lag Stochastic Indicator (setting 13)
• 5sma open
• 5sma close
• 5M or 15M chart

What to watch for:

When the 15M 5 SMA is crossing.

Entry:

1) When the 15M TF 5SMA (open/close) lines cross,
2) wait for 5M price bar closes above or below both 5SMA lines (not touching),
3) and ZeroLag Stoch cross over
4) and the QQE5 solid index line crosses the 50 line,
5) enter short if below 50 line, or long if above it.
  • #73
  • Mar 14, 2008 4:31am Mar 14, 2008 4:31am
I am following that, but I also added 10,20 and 50SMAs for further confirmation.

I also use alot of Fibs and TLs and enter on TL breaks and use the Fibs for TPs.

Hard to explain that part really.

Also, go with the higher TF trends mostly.

Since it's evolved a bit, I'm sure the basic 5sma cross may not work as well as what I do now.
  • #74
  • Mar 14, 2008 6:04am Mar 14, 2008 6:04am
Kujo,
how do you use 10,20 and 50SMAs? Do you look at their Open/Close crossings, like the 5 SMAs?

Thank you
Piksy
  • #75
  • Mar 14, 2008 6:08am Mar 14, 2008 6:08am
close on all of them.

When the 10/20 cross, it's like a 5sma cross, only safer trade.
Then, when the 10/20 cross the 50, you're good to go even more.

Just later confirmation. Less in/out.

Then I use Fibs and TLs, both Horizontal and highs/lows.
When certain areas break on a close, I'll enter.
Hold the trade until a certain area, exit, etc.....

Can't explain it all.

Biggest thing is to know where strong S/R areas are.
Use them for confirmation and or Targets.

kj
  • #76
  • Mar 14, 2008 11:22am Mar 14, 2008 11:22am
KJ
Thank you for your answer. I understand that it is difficult to explain, but I'll try to understand...
About EMAs - do you mean crossing between EMA 10 open and EMA 10 close (and 20 open/close etc)?
Thanks
Piksy


Quoting kujo17
close on all of them.

When the 10/20 cross, it's like a 5sma cross, only safer trade.
Then, when the 10/20 cross the 50, you're good to go even more.

Just later confirmation. Less in/out.

Then I use Fibs and TLs, both Horizontal and highs/lows.
When certain areas break on a close, I'll enter.
Hold the trade until a certain area, exit, etc.....

Can't explain it all.

Biggest thing is to know where strong S/R areas are.
Use them for confirmation and or Targets.

kj
  • #77
  • Mar 14, 2008 2:45pm Mar 14, 2008 2:45pm
Kujo can correct me if i'm wrong here. I'm sure he uses the 10,20 simple to close and when they cross up or down that is a better confirmation.Allways remember all indicators are lagging and i've used quiet a few lately.. they provide good structure...don't depend on them soley.The trendlines ,S&R,fibs ,horizontal lines are really important.This pair can really volitale and it can move any direction with all indicators lining up. Allways try to trade in direction of the 50sma.Look for breaks, retracements around s&r lines,TL's and fibs.On trendlines look for candle or wicks angling up and down in a line touching and watching for a break.This is what i'm doing anyway.
  • #78
  • Mar 20, 2008 9:07am Mar 20, 2008 9:07am
Haven't really been posting much analysis, as I've mainly been scalping these last few weeks.

A few hours around the Asia/London overlap and then the US/Eu overlap.

Using my ZL Stoch, Fibs/TLs scalping strategy and aiming at 150-200 pips/day.

Hope all are well and trading safe and profitable in these crazy times.

Wait for your signal !!!

kj
  • #79
  • Mar 20, 2008 9:08am Mar 20, 2008 9:08am
Quoting tex123
Kujo can correct me if i'm wrong here. I'm sure he uses the 10,20 simple to close and when they cross up or down that is a better confirmation.Allways remember all indicators are lagging and i've used quiet a few lately.. they provide good structure...don't depend on them soley.The trendlines ,S&R,fibs ,horizontal lines are really important.This pair can really volitale and it can move any direction with all indicators lining up. Allways try to trade in direction of the 50sma.Look for breaks, retracements around s&r lines,TL's and fibs.On trendlines look for candle or wicks angling up and down in a line touching and watching for a break.This is what i'm doing anyway.
Yes, I agree.
I think the Fibs, TLs and S/R areas are the key to profitable trading.
Trading Naked as they say.

kj
  • #80
  • Mar 24, 2008 9:52am Mar 24, 2008 9:52am
Well, with the market so up and down, I've been just scalping lately.
200+ pips being the target, for about 5 hrs of trading per day.

Using a 1M scalp strat now, that works well in a non ranging market, so mid week days it should work very well.

Seems we are in an uptrend now.
1H, 4H and Dailies are up.(ZL Stoch, above Gann, etc.)

My targets are 203.75, 208ish and then 213 area.
I feel 208 is a good, realistic target area before another drop down.

Good trading to all.
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