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Karmo's trading strategy trading GBP/JPY

  • #681
  • Sep 22, 2008 6:51am Sep 22, 2008 6:51am
Market has got my head spinning. Been waiting a close above 4hr 5sma all day, without any. since asia we have been dancing around 15mins 50ema.

Dats my first warning of consolidation,
  • #682
  • Sep 22, 2008 6:53am Sep 22, 2008 6:53am
Quoting karmostaji
The 15m QQE crossed downwards but price is trading above the 15m gann hilo, this is also usually a sign of trend continuation which is bullish in this scenario.

Everything is lining up quiet nicely for some nice bullish action.
Price is still trading above the 15m gann and the 15m QQE looks like about to cross upwards, once crossed and confirmed.. we should see more bullishness.
Trade what you see, not what you think.
  • #683
  • Sep 22, 2008 7:49am Sep 22, 2008 7:49am
Patience is paying off slowly but surely
Trade what you see, not what you think.
  • #684
  • Sep 22, 2008 7:52am Sep 22, 2008 7:52am
Quoting karmostaji
Patience is paying off slowly but surely
what might be the TP?
I see 197 is quite strong resistance...
Lost...
  • #685
  • Sep 22, 2008 7:55am Sep 22, 2008 7:55am
Quoting worlhin
what might be the TP?
I see 197 is quite strong resistance...
1st 197
2nd 199
3rd 200
Trade what you see, not what you think.
  • #686
  • Sep 22, 2008 7:56am Sep 22, 2008 7:56am
Quoting karmostaji
Price is currently in a nice bullish channel on the 1h chart, 193.50 area is a good S/R level, 1h 50ema and also the LT of the channel, and 4h gann hilo

If price gets there and starts bouncing a bit, I would take a long definitely and targeting Daily 50ema which is around 199 or so.

But if we get 4h QQE to cross down and a 4h candle closes below 4h gann, I'll go short

Other than that, I stay out
Price breaking out and there has been a QQE upward cross on 15' ... but price never reached your 193.50 level, so do you have a position & if not where would you get one?
  • #687
  • Sep 22, 2008 7:59am Sep 22, 2008 7:59am
Quoting TraderStar
Price breaking out and there has been a QQE upward cross on 15' ... but price never reached your 193.50 level, so do you have a position & if not where would you get one?
The hourly candle closes in 2 mins, if 1h QQE crosses and confirms, I'll be going long on any retracement to the 5sma (TF's 15m/30m or 1h)
Trade what you see, not what you think.
  • #688
  • Sep 22, 2008 8:01am Sep 22, 2008 8:01am
Quoting karmostaji
We have candles above the 1h Gann hilo, but I'm waiting for the 1h QQE to cross upwards and we should see some new high's.

Price is also trading above the 50ema and inside the bullish channel on 1h TF.
1H QQE crossed and confirmed, look for new high's soon
Trade what you see, not what you think.
  • #689
  • Sep 22, 2008 8:25am Sep 22, 2008 8:25am
197.2 break, then we will go for new high... rite?
Lost...
  • #690
  • Sep 22, 2008 8:40am Sep 22, 2008 8:40am
Howdy Karmo, wondered when you would come over here. Other thread getting pretty busy now a days.
Price does what price wants , I just need to be prepared.
  • #691
  • Sep 22, 2008 8:53am Sep 22, 2008 8:53am
went long close to the 1h 5sma, risking 1% only

Patience kicks in now, either SL hits or we reach my TP's
Trade what you see, not what you think.
  • #692
  • Sep 22, 2008 9:07am Sep 22, 2008 9:07am
She's not making it easy, is she...
  • #693
  • Sep 22, 2008 9:28am Sep 22, 2008 9:28am
long 195.60 off the 15 min support trend line for the day. Now lets see those new highs.
Price does what price wants , I just need to be prepared.
  • #694
  • Sep 22, 2008 9:52am Sep 22, 2008 9:52am
Why that sharp spike????
  • #695
  • Sep 22, 2008 9:59am Sep 22, 2008 9:59am
Quoting femzy112
Why that sharp spike????
That is the ten thousand dollar question ... I think it was 100 pips in 5 minutes
  • #696
  • Sep 22, 2008 10:10am Sep 22, 2008 10:10am
Quoting karmostaji
1st 197
2nd 199
3rd 200
1st TP reached, waiting for 199 unless 1h QQE reverses and we go below 4h Gann hilo.
Trade what you see, not what you think.
  • #697
  • Sep 22, 2008 11:04am Sep 22, 2008 11:04am
Quoting ephisi
Market has got my head spinning. Been waiting a close above 4hr 5sma all day, without any. since asia we have been dancing around 15mins 50ema.

Dats my first warning of consolidation,
finally we had a candloeclose above 4h5 5sma. i missed that. But 4hr MOM not supportive of bulls. I think the problem with today is that based on MOM and AUS daily technique daily and weekly MOM are shouting fo a retracement to 193.59/194 area fo 2day. At d end of 2dayscandle that owuld change.

As i said earlier i was sensing consolidation. im sensing 100pips up 100pips down moves until the 15mins MAS get some breathing space. Right now they are chocked up. 4hr 5sma would be a perfect long entry if 1hr remeian bullish
  • #698
  • Sep 22, 2008 11:05am Sep 22, 2008 11:05am
4h gann hilo is @ 195

This should be our support. I won't short unless this gann hilo is broken.

All we need is a 1h candle close above 197 and it should easily reach 199.
Trade what you see, not what you think.
  • #699
  • Sep 22, 2008 12:26pm Sep 22, 2008 12:26pm
Testing 197 again, cmon break it!
Trade what you see, not what you think.
  • #700
  • Sep 22, 2008 12:34pm Sep 22, 2008 12:34pm
Bearish divergence on 30min and 1hr TF. we may have another push down.

GUUJ
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