Price does what price wants , I just need to be prepared.
Karmo's trading strategy trading GBP/JPY
- #383
- Mar 15, 2008 6:34pm Mar 15, 2008 6:34pm
- Joined Oct 2007 | Status: I'm on a 10 year plan. | 4,309 Posts
Complete and utter bollox. 'Trendlines'. 'Channels'. What bloody nonsense. They only exist in your vivid imaginations. Look backwards and you can see anything you want. Sadly Forex moves forwards not backwards.
Keep up the good work guys
"Keep your eyes on the helpers" - Mr. Rogers
- #385
- Mar 15, 2008 9:46pm Mar 15, 2008 9:46pm
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Ok i have the the files saved to my desk top. Do you mean the expert advisor file in the navigator dropdown? tks!!
Hi Karmo,
Thanx for this informative thread, just read through the all thread and will always be back for more great chart analysises and the beast called GBP/JPY,also will like to say thanx to Jarro for taking time to reply and answer newbies questions.
I have a newbie question and I hope you guys can help, like PJkiller Im having problem uploading those indications to my Metatrader4 platform,I have saved it on my system as Target so what Im doing wrong or maybe I should ask what am I not doing right?
Thanx and great thread, keep it up Karmo.
jaggarmc
This should help.
http://video.google.com/videoplay?do...arch&plindex=2
Indicators show the past. Price Action "Indicates" the future.
- #387
- Mar 16, 2008 4:19am Mar 16, 2008 4:19am
- Joined Nov 2006 | Status: Dubai | 11,493 Posts
Thanks jarroo for helping the newbie's out
Trade what you see, not what you think.
- #390
- Mar 16, 2008 9:05am Mar 16, 2008 9:05am
I smell blood for the "BULLS"
Just an info and not a reco!
I already gave you a warning guys! Monday is another day to massacre those who have left their long positions open 195 will do next week "look south before north" only "divine intervention" will save this pair my overall target is 180.
Just an info and not a reco!
. Things look grim, however isn't the Japanese tax year comming soon, that would theoretically strenghten JPY?
- #392
- Mar 16, 2008 11:55am Mar 16, 2008 11:55am
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
I happen to be long
The pair might bounce into 38.2% fib of move 207.95 to 199.90 zone onto 203 forming a bear flag. This is the top of the lienar regression channel. The fact that price is so far under its 10 sma , this is likely to happen as the 10 sma acts as a magnet to price.
Now if the channel remains intact the price will come back down into 127 % fib extension at 199.06 , but more likely the bottom of the channel and 161.8% fe at 197.
Time targets :
203 : overnight Sunday / Monday pacific standard
197: March 18th ( chart show march 16th but i have to add 2 day because of no weekend trading for forecasting)
Time forecasting works by looking back at historical trend line slopes and applying simple geometry.
In my gbpjpy scalper forum I nailed eurcad target of 1.5500 to the day using this exact tehcnique shown in the chart below. That was a sweet 700 pip trade this month .
It is just simple geometry and some assumptions..
Now if the channel is broken to the upside then the plan will have to be reconsidered, however as you are in a long it would be going in your favour.
The other secanrio is that on open today it just drops 300 pips in no time and has NO retrace. The chances of this are slim . but if it does I would just cut the loss ( my stops for swing trading gbpjpy on a 2 hour are 200 pips)
Blogging daily now at www.volume.zone
- #393
- Edited 1:14pm Mar 16, 2008 12:59pm | Edited 1:14pm
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Indicators show the past. Price Action "Indicates" the future.
- #394
- Mar 16, 2008 1:19pm Mar 16, 2008 1:19pm
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Indicators show the past. Price Action "Indicates" the future.
- #395
- Mar 16, 2008 1:39pm Mar 16, 2008 1:39pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
My monthly .. that rejectiong of 78.6 % fe was major , 1st target 191 ?
Blogging daily now at www.volume.zone
- #396
- Mar 16, 2008 1:40pm Mar 16, 2008 1:40pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
Blogging daily now at www.volume.zone
- #397
- Edited 2:08pm Mar 16, 2008 1:51pm | Edited 2:08pm
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Indicators show the past. Price Action "Indicates" the future.
- #398
- Mar 16, 2008 4:42pm Mar 16, 2008 4:42pm
I happen to be long
- #400
- Mar 16, 2008 5:03pm Mar 16, 2008 5:03pm
Thanks for all the replys. Just closed my long and the beast dropped another 60pips