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Karmo's trading strategy trading GBP/JPY

  • #621
  • Aug 2, 2008 12:07am Aug 2, 2008 12:07am
Nvm, I found out that we're near 50% retracement on 4hr. Nice find, Karmo.
  • #622
  • Edited 12:17am Aug 3, 2008 12:12am | Edited 12:17am
Same chart Karmo posted before, came to the same conclusion. Big area of confluence and the possibility of a move to 180 from here or...the mind set change to go long. Time will tell. However here's how big this area is to me at least. Hitting the downtrend line from the 251 high, we're at 50% retracement of the move AND 50% retracement of the projected move to 180, we broke the daily Bollinger band and formed a bearish engulfing right after, we just hit the 200 day MA on the weekly and daily to a certain extent. Why am I bearish? Classic bear flag, most visible on the daily, we're technically in a downtrend. Adios
Attached Image(s) (click to enlarge)
Click to Enlarge Name: poundyendaily.gif Size: 28 KB
Click to Enlarge Name: poundyenweekly.gif Size: 30 KB
  • #623
  • Aug 7, 2008 8:48pm Aug 7, 2008 8:48pm
Karmo,

Ronald(RR) made this ea especially for your strategy. Just in case if you don't want to miss a possible major retracement, you can use this ea to send you a text message and an email to signal you.

I set this ea to notify me if price is at least 70 pips away from 5sma.
Attached File(s)
File Type: mq4 Tiki Trader.mq4   11 KB | 682 downloads
  • #624
  • Aug 7, 2008 8:50pm Aug 7, 2008 8:50pm
BTW, this present trade is looking good!
  • #625
  • Aug 18, 2008 8:34am Aug 18, 2008 8:34am
Price is trading in a bearish flag, IMO it will break downwards sooner or later..
4H QQE has recovered close to the 50 level and it might be getting ready to cross back downwards and head to new lows.
Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 19 KB
Trade what you see, not what you think.
  • #626
  • Aug 19, 2008 6:45am Aug 19, 2008 6:45am
4H QQE hasn't crossed yet but price is trading below 4h gann, if 1h QQE crosses upwards and we get a 1h candle close above 1h gann, I'm going to go long

Until then, patience
Trade what you see, not what you think.
  • #627
  • Aug 20, 2008 8:38am Aug 20, 2008 8:38am
Price is still trading in the 4h bear flag, we are currently at the bottom of it and I've taken some longs targeting the upper TL of the flag.
Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 21 KB
Trade what you see, not what you think.
  • #628
  • Aug 25, 2008 6:38am Aug 25, 2008 6:38am
could u please tell, where is exactly ur 50ema.... tq bro
  • #629
  • Sep 5, 2008 12:56pm Sep 5, 2008 12:56pm
Quoting karmostaji
Price is still trading in the 4h bear flag, we are currently at the bottom of it and I've taken some longs targeting the upper TL of the flag.

You still trading???? You're doom better luck next time I will lend you several millions if you want nyahahahahahaha!!!!
  • #630
  • Sep 10, 2008 12:48pm Sep 10, 2008 12:48pm
Price is trading in downward channel, price is also still trading below 4h Gann hilo, so I remain bearish GJ.
Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 22 KB
Trade what you see, not what you think.
  • #631
  • Sep 10, 2008 12:54pm Sep 10, 2008 12:54pm
Quoting karmostaji
Price is trading in downward channel, price is also still trading below 4h Gann hilo, so I remain bearish GJ.

Could that be considered a bullish flag or not since we are below the 4hr gann. Thanks for your help
  • #632
  • Sep 10, 2008 12:59pm Sep 10, 2008 12:59pm
Quoting pip_designer
Could that be considered a bullish flag or not since we are below the 4hr gann. Thanks for your help
no I wouldn't consider this a bullish flag because it is not after a strong rally, so to me it is just a 1H downtrend channel.
Trade what you see, not what you think.
  • #633
  • Sep 10, 2008 1:15pm Sep 10, 2008 1:15pm
Quoting karmostaji
no I wouldn't consider this a bullish flag because it is not after a strong rally, so to me it is just a 1H downtrend channel.
Karmo

I am with you on this one..... just wondering when this thing will break

also as long as we remain below that 33 sma on 4 hour bears rule .... sell the rallies

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Click to Enlarge Name: gj15.jpg Size: 193 KB
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  • #634
  • Sep 10, 2008 3:29pm Sep 10, 2008 3:29pm
Price is trading below 4h gann hilo and the new 4h momentum is bearish

An hourly close below 187.50 and this beast should make a new low easily.
Trade what you see, not what you think.
  • #635
  • Sep 10, 2008 3:42pm Sep 10, 2008 3:42pm
Karmo do you have any comments on EU. I know you dont trade EU but any comments?
  • #636
  • Sep 10, 2008 4:29pm Sep 10, 2008 4:29pm
Quoting vinesh2
Karmo do you have any comments on EU. I know you dont trade EU but any comments?
It looks like it's heading to the weekly 50% fibo at 1.3838
Trade what you see, not what you think.
  • #637
  • Sep 10, 2008 11:33pm Sep 10, 2008 11:33pm
Quoting karmostaji
Price is trading below 4h gann hilo and the new 4h momentum is bearish

An hourly close below 187.50 and this beast should make a new low easily.
price is approaching the support level slowly, I'd like to see the support level broken.

London open should be interesting.
Trade what you see, not what you think.
  • #638
  • Sep 11, 2008 4:13am Sep 11, 2008 4:13am
Quoting karmostaji
Price is trading below 4h gann hilo and the new 4h momentum is bearish

An hourly close below 187.50 and this beast should make a new low easily.
we had a 1h candle close below the support, we should be heading for a new low
Trade what you see, not what you think.
  • #639
  • Sep 11, 2008 4:23am Sep 11, 2008 4:23am
I'd like to see UJ break 106.70 level, then GJ will tank even more.
Trade what you see, not what you think.
  • #640
  • Sep 11, 2008 4:48am Sep 11, 2008 4:48am
Quoting karmostaji
I'd like to see UJ break 106.70 level, then GJ will tank even more.
You up about 2700 pips on the G/J so far Karmo?

I'm developing a "Karmo Alert" on my computer. When ever you post on the forum, Red lights and Sirens start going off throughout my house.
Indicators show the past. Price Action "Indicates" the future.
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