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Karmo's trading strategy trading GBP/JPY

  • #381
  • Mar 15, 2008 2:38pm Mar 15, 2008 2:38pm
Ok i have the the files saved to my desk top. Do you mean the expert advisor file in the navigator dropdown? tks!!
Price does what price wants , I just need to be prepared.
  • #382
  • Mar 15, 2008 3:22pm Mar 15, 2008 3:22pm
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.
He was looking for the card so high and wild hed never need to deal another
  • #383
  • Mar 15, 2008 4:34pm Mar 15, 2008 4:34pm
Quoting dr_who
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.
Anyone who would like to see my "serving" to dr_who is welcome to visit my thread located in my signature file. Post #253 and #254. I am willing to bet I will never here from him.

Keep up the good work guys
"Keep your eyes on the helpers" - Mr. Rogers
  • #384
  • Mar 15, 2008 5:46pm Mar 15, 2008 5:46pm
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
  • #385
  • Mar 15, 2008 7:46pm Mar 15, 2008 7:46pm
Quoting PJkiller
Ok i have the the files saved to my desk top. Do you mean the expert advisor file in the navigator dropdown? tks!!
Quote
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.
  • #386
  • Mar 15, 2008 10:40pm Mar 15, 2008 10:40pm
Jarroo thank you for all the help and the link. I have it now!!!
Price does what price wants , I just need to be prepared.
  • #387
  • Mar 16, 2008 2:19am Mar 16, 2008 2:19am
Thanks jarroo for helping the newbie's out
Trade what you see, not what you think.
  • #388
  • Mar 16, 2008 4:35am Mar 16, 2008 4:35am
big jaroo, how can i save the video for future refference
Respect a man, and he will do all the more.
  • #389
  • Mar 16, 2008 5:32am Mar 16, 2008 5:32am
Thanx Jarro,

I have it now and I am learning everyday, so back to more reading and studying.
Keep up the great work guys.

jaggarmc
  • #390
  • Mar 16, 2008 7:05am Mar 16, 2008 7:05am
Quoting 4x_Trader
I smell blood for the "BULLS"
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!
  • #391
  • Mar 16, 2008 9:15am Mar 16, 2008 9:15am
Quoting 4x_Trader
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!
I happen to be long . Things look grim, however isn't the Japanese tax year comming soon, that would theoretically strenghten JPY?
  • #392
  • Mar 16, 2008 9:55am Mar 16, 2008 9:55am
Quoting gimp
I happen to be long . Things look grim, however isn't the Japanese tax year comming soon, that would theoretically strenghten JPY?
Gimp not sure what price you went long at ... but here is what I am thinking may happen.

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)

Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy2 hour.png Size: 237 KB
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  • #393
  • Edited 11:14am Mar 16, 2008 10:59am | Edited 11:14am
Looking at possible S/R levels.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpyyyyuu.gif Size: 15 KB
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #394
  • Mar 16, 2008 11:19am Mar 16, 2008 11:19am
Monthly GBPJPY
Attached Images
Indicators show the past. Price Action "Indicates" the future.
  • #395
  • Mar 16, 2008 11:39am Mar 16, 2008 11:39am
My monthly .. that rejectiong of 78.6 % fe was major , 1st target 191 ?

Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpt40.png Size: 321 KB
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  • #396
  • Mar 16, 2008 11:40am Mar 16, 2008 11:40am
Quoting malcolmb14
My monthly .. that rejectiong of 78.6 % fe was major , 1st target 191 ?

Attachment
192.65 target on monthly
Blogging daily now at www.volume.zone
  • #397
  • Edited 12:08pm Mar 16, 2008 11:51am | Edited 12:08pm
Price Action on the Weekly: DBHLC (Bearish)
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #398
  • Mar 16, 2008 2:42pm Mar 16, 2008 2:42pm
Quoting gimp
I happen to be long . Things look grim, however isn't the Japanese tax year comming soon, that would theoretically strenghten JPY?
M sorry gimp but the market is now doing @ 199.10 new low.....
  • #399
  • Mar 16, 2008 2:53pm Mar 16, 2008 2:53pm
Thanks for all the replys. Just closed my long and the beast dropped another 60pips . Guess I'll be on the sidelines for a while, to see where it's heading.
  • #400
  • Mar 16, 2008 3:03pm Mar 16, 2008 3:03pm
Quoting gimp
Thanks for all the replys. Just closed my long and the beast dropped another 60pips . Guess I'll be on the sidelines for a while, to see where it's heading.
No doubt still heading towards south 198.50 new low once again.....
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