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Karmo's trading strategy trading GBP/JPY

  • #541
  • May 11, 2008 3:38pm May 11, 2008 3:38pm
http://img152.imageshack.us/img152/933/gjis4.gif

We can see that 203.60 area was a good support, it should be a good resistance now that it has been broken, plus it is between the 38.2 and the 50 fib which I expect price to retrace to, as jarroo says "Confluence!"
Trade what you see, not what you think.
  • #542
  • May 11, 2008 3:40pm May 11, 2008 3:40pm
Quoting karmostaji

We can see that 203.60 area was a good support, it should be a good resistance now that it has been broken, plus it is between the 38.2 and the 50 fib which I expect price to retrace to, as jarroo says "Confluence!"
The more confluence the better. Nice Karmo.
Indicators show the past. Price Action "Indicates" the future.
  • #543
  • May 11, 2008 5:20pm May 11, 2008 5:20pm
guys , can you tell me please which broker has the best conditions for trading gbp/jpy ?
I'm interesting in doing about 5 trades a day so low commisions and spreads are crucial

thanks
  • #544
  • May 11, 2008 5:22pm May 11, 2008 5:22pm
New daily momentum is pointing upwards so we should see a retrace up to the Daily 5sma
Trade what you see, not what you think.
  • #545
  • May 11, 2008 5:22pm May 11, 2008 5:22pm
karmostaji , looks like going in your direction
  • #546
  • May 11, 2008 5:37pm May 11, 2008 5:37pm
It has bounced from the 200 ema on the 5 min chart
shall see another approach ?
  • #547
  • May 11, 2008 6:25pm May 11, 2008 6:25pm
Quoting gustlik
karmostaji , looks like going in your direction
Looks to be heading down to me
Blogging daily now at www.volume.zone
  • #548
  • May 11, 2008 6:33pm May 11, 2008 6:33pm
Quoting malcolmb14
Looks to be heading down to me
News on weekend ..ANB first bank to go down this year .. will open as Little Rock on Monday.

2) we have broken 50 sma on 15 min ... looks to be heading down to test Friday's low. I am short off 200.90 and have moved stop to break even already.
3) broke Friday's trend line in the US session to down side.

Looks like that retracement to 203.4 might not happen after all .... I was expecting it to but do not get married to one direction or other .. just go with what the chart tell me.
Blogging daily now at www.volume.zone
  • #549
  • May 11, 2008 6:34pm May 11, 2008 6:34pm
Quoting malcolmb14
News on weekend ..ANB first bank to go down this year .. will open as Little Rock on Monday.

2) we have broken 50 sma on 15 min ... looks to be heading down to test Friday's low. I am short off 200.90 and have moved stop to break even already.
3) broke Friday's trend line in the US session to down side.

Looks like that retracement to 203.4 might not happen after all .... I was expecting it to but do not get married to one direction or other .. just go with what the chart tell me.
lol nobody said it will happen in the first 2 hours of trading, what a joker

just go back to your own thread
Trade what you see, not what you think.
  • #550
  • May 11, 2008 6:45pm May 11, 2008 6:45pm
maybe , the falcon gonna fly today , its to early for him perhaps
Karmostaji , sorry I know its a bit out of topic but could you tell me which broker offers the lowest spreads on gbp/jpy ?
I've checked crown forex , they offer great deal on usd/jpy just 1 pip and no comission , but on gbp/jpy its 10 pips
  • #551
  • May 11, 2008 6:57pm May 11, 2008 6:57pm
Quoting karmostaji
lol nobody said it will happen in the first 2 hours of trading, what a joker

just go back to your own thread
Was just giving you heads up on news .. in case you did not see it.

Big news .. AIG write of due to credit derivatives and then 1st bank of year out for count

Oh well 70 pips in bank so far today .. I am the one laughing.

I will leave this thread alone as per your request.
Blogging daily now at www.volume.zone
  • #552
  • May 12, 2008 2:17am May 12, 2008 2:17am
Things are working out just as planned, London opens in 45 mins, it should be interesting
Trade what you see, not what you think.
  • #553
  • May 12, 2008 2:18am May 12, 2008 2:18am
Quoting gustlik
maybe , the falcon gonna fly today , its to early for him perhaps
Karmostaji , sorry I know its a bit out of topic but could you tell me which broker offers the lowest spreads on gbp/jpy ?
I've checked crown forex , they offer great deal on usd/jpy just 1 pip and no comission , but on gbp/jpy its 10 pips
I use IBFX and spread is 9, it's fine with me

check the broker section for suggestions
Trade what you see, not what you think.
  • #554
  • May 12, 2008 2:26am May 12, 2008 2:26am
[ok , thank you
karmostaji , the falcon is flying up it listenes to his master
  • #555
  • May 12, 2008 2:29am May 12, 2008 2:29am
Getting through that gann hi/lo is usually a tough one.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #556
  • May 12, 2008 2:30am May 12, 2008 2:30am
Quoting jarroo
Getting through that gann hi/lo is usually a tough one.
new 4h momentum in 30 mins and this hourly candle close should give us an idea if that 4h gann will hold or not
Trade what you see, not what you think.
  • #557
  • May 12, 2008 2:32am May 12, 2008 2:32am
Quoting karmostaji
new 4h momentum in 30 mins and this hourly candle close should give us an idea if that 4h gann will hold or not
Glad to have you back, brother.
Indicators show the past. Price Action "Indicates" the future.
  • #558
  • May 12, 2008 3:03am May 12, 2008 3:03am
Quoting jarroo
Glad to have you back, brother.


new 4h mom remains bullish, as long as price trades above the 1h gann then 4h gann will be broken

My target for the bulls,

S/R - 203.60
50% - 204.38
Re-test broken TL & 61.8% - 205.50
Trade what you see, not what you think.
  • #559
  • May 12, 2008 6:16am May 12, 2008 6:16am
Quoting karmostaji


new 4h mom remains bullish, as long as price trades above the 1h gann then 4h gann will be broken

My target for the bulls,

S/R - 203.60
50% - 204.38
Re-test broken TL & 61.8% - 205.50
1st TP reached!
Trade what you see, not what you think.
  • #560
  • May 12, 2008 6:39am May 12, 2008 6:39am
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