Karmo's trading strategy trading GBP/JPY | Page 36 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

GBP/AUD, GBP/CAD, GBP/CHF and GBP/NZD thread 126 replies

simplest strategy for GBP/ JPY 101 replies

long eur/jpy, gbp/jpy, usd/jpy 11 replies

strategy HILO on GBP/JPY 406 replies

Gbp/jpy = Gbp/usd X Usd/jpy ?? 5 replies

Attachments: Karmo's trading strategy trading GBP/JPY
Exit Attachments

Karmo's trading strategy trading GBP/JPY

  • #701
  • Sep 22, 2008 1:44pm Sep 22, 2008 1:44pm
Quoting karmostaji
went long close to the 1h 5sma, risking 1% only

Patience kicks in now, either SL hits or we reach my TP's
I closed at BE, 197 is being tough and I don't like Oil shooting up to $130, $25 in 1 day!! It tells me that risk aversion is in the markets and people are afraid.

If 1h QQE crosses down with a candle close below gann, I'll short and add more once we get a 4h QQE cross down confirmation.
Trade what you see, not what you think.
  • #702
  • Sep 22, 2008 2:00pm Sep 22, 2008 2:00pm
Closed right on the 1h gann .. close enough? Or will you wait for more confirmation?

She is not making it easy!!
  • #703
  • Sep 22, 2008 2:04pm Sep 22, 2008 2:04pm
Quoting TraderStar
Closed right on the 1h gann .. close enough? Or will you wait for more confirmation?

She is not making it easy!!
I'll wait, it's even safer to wait for the 4h chart to turn bearish for better confirmation
Trade what you see, not what you think.
  • #704
  • Sep 22, 2008 2:08pm Sep 22, 2008 2:08pm
Quoting karmostaji
I closed at BE, 197 is being tough and I don't like Oil shooting up to $130, $25 in 1 day!! It tells me that risk aversion is in the markets and people are afraid.

If 1h QQE crosses down with a candle close below gann, I'll short and add more once we get a 4h QQE cross down confirmation.
not to mention that move of $80 in gold ....

crazy times right Karmo .

$25 oil in one day !! must be a new record
Blogging daily now at www.volume.zone
  • #705
  • Sep 22, 2008 2:12pm Sep 22, 2008 2:12pm
Quoting malcolmb14
not to mention that move of $80 in gold ....

crazy times right Karmo .

$25 oil in one day !! must be a new record
Definitely crazy, haven't seen Oil move this much in 1 day.. something is going on..

Gold was 7xx last week and now above 900 LOL
Trade what you see, not what you think.
  • #706
  • Sep 22, 2008 2:19pm Sep 22, 2008 2:19pm
Quoting karmostaji
Definitely crazy, haven't seen Oil move this much in 1 day.. something is going on..

Gold was 7xx last week and now above 900 LOL

I am sitting here like a deer ( or in your neck of the world camel) in the headlights .... gj seems unable to break 197 and i wonder if we were able to short financial stocks where the DJ and gj would have ended up today.

BTW I used to live in Jebel Ali a number of years ago ...would love to come out to Dubai once more to see how things have changed out there.
Blogging daily now at www.volume.zone
  • #707
  • Sep 22, 2008 2:24pm Sep 22, 2008 2:24pm
Quoting karmostaji
I closed at BE, 197 is being tough and I don't like Oil shooting up to $130, $25 in 1 day!! It tells me that risk aversion is in the markets and people are afraid.

If 1h QQE crosses down with a candle close below gann, I'll short and add more once we get a 4h QQE cross down confirmation.
hi karmo jan
i should note that this is not risk aversion...if risk aversion occurs then all of yen crosses must drop ...but now only usd/yen dropped...i think it's all about dollar weakening not risk aversion...also it may depend to surge of euro too....becoz oil price has correlation with euro...
also i shouild add this crazy action may has a another wonder reason that we don't know....we should wait till get what happend


regards
  • #708
  • Sep 22, 2008 2:26pm Sep 22, 2008 2:26pm
Quoting karmostaji
I'll wait, it's even safer to wait for the 4h chart to turn bearish for better confirmation
That's a long way away .. I will need to take some more patience pills
  • #709
  • Sep 22, 2008 2:33pm Sep 22, 2008 2:33pm
...........
The October contract expires today and a big reason for today's rally was short covering. Short covering occurs when a buyer borrows a stock, betting it will go down, then has to buy it back at that lower price. A lot of traders were short oil, assuming the only way it could go was down, then had to cover their bets before the contract expired.
...............

see in this link
http://www.cnbc.com/id/26839671
  • #710
  • Sep 22, 2008 2:47pm Sep 22, 2008 2:47pm
Quoting shahroodi
...........
The October contract expires today and a big reason for today's rally was short covering. Short covering occurs when a buyer borrows a stock, betting it will go down, then has to buy it back at that lower price. A lot of traders were short oil, assuming the only way it could go was down, then had to cover their bets before the contract expired.
...............

see in this link
http://www.cnbc.com/id/26839671

mm.... that sounds like someone trying to hide their tracks ... when you make big footprints like the ones we have seen today in oil you need more than a little fern to hide the tracks.
Blogging daily now at www.volume.zone
  • #711
  • Sep 22, 2008 3:03pm Sep 22, 2008 3:03pm
i will wait for confirmation from new 4hr and daily candle. Asia should send GJ lower d dollar is in trouble
  • #712
  • Sep 22, 2008 3:14pm Sep 22, 2008 3:14pm
Quoting ephisi
i will wait for confirmation from new 4hr and daily candle. Asia should send GJ lower d dollar is in trouble
d dollar is d doomed
  • #713
  • Sep 22, 2008 3:16pm Sep 22, 2008 3:16pm
Treasury Disputes Democrat On Changes in Bailout

Bailout Plan Will Be Drag On Fragile US Economy
  • #714
  • Edited 3:33pm Sep 22, 2008 3:18pm | Edited 3:33pm
Quoting TraderStar
d dollar is d doomed
How low can she go??
UJ quote 000.00
  • #715
  • Sep 22, 2008 3:36pm Sep 22, 2008 3:36pm
Quoting malcolmb14
I am sitting here like a deer ( or in your neck of the world camel) in the headlights .... gj seems unable to break 197 and i wonder if we were able to short financial stocks where the DJ and gj would have ended up today.

BTW I used to live in Jebel Ali a number of years ago ...would love to come out to Dubai once more to see how things have changed out there.
LOL gj is hopping up and down like a rabbit.

Nice, you should definitely come back because things are changing here every single day and it never finishes, I just wish all the construction would just get done.
Trade what you see, not what you think.
  • #716
  • Sep 22, 2008 4:01pm Sep 22, 2008 4:01pm
Hey Karmo, how've you been man?

This isn't really in line with Aus's system, but for price action's sake; My last eight hour bar (at 12 o' clock Eastern) closed with a confirmation bar to the pin bar before which closed at 195.60 at support. 194.26 was the low for the pin and so I wouldn't look to see price move below that area.

Right now, I am looking for lows of 195.20's to come into play for this retracement then we should be looking at a bounce from that point to move in line with the pin bar's original direction.

I'm not on my normal computer with my charts set up so I can't really post them up. I'll edit this later and do so though.

tell me if you'd like me to delete this post as it isn't in line with your thread completely.

P.S. The new daily 5 ema closed at 194.19 on my charts.
I dream, therefore I become.
  • #717
  • Sep 22, 2008 4:39pm Sep 22, 2008 4:39pm
Quoting mike w
Hey Karmo, how've you been man?

This isn't really in line with Aus's system, but for price action's sake; My last eight hour bar (at 12 o' clock Eastern) closed with a confirmation bar to the pin bar before which closed at 195.60 at support. 194.26 was the low for the pin and so I wouldn't look to see price move below that area.

Right now, I am looking for lows of 195.20's to come into play for this retracement then we should be looking at a bounce from that point to move in line with the pin bar's original direction.

I'm not on my normal computer with my charts set up so I can't really post them up. I'll edit this later and do so though.

tell me if you'd like me to delete this post as it isn't in line with your thread completely.

P.S. The new daily 5 ema closed at 194.19 on my charts.
Hey Mike,

I'm doing great thanks, how about yourself?
Feel free to post your analysis bro, I really enjoy reading them and learn from your posts
Trade what you see, not what you think.
  • #718
  • Sep 22, 2008 8:27pm Sep 22, 2008 8:27pm
good evening all,

obvious double top @ 197.00, in the form of a 1-2-3 formation, breaking confidently 195.50 as i write on h4 time frame this could well mean that this is indeed a very wide range for the carry given current market uncertainty.

I wish my suggestion could only benefit others as a contribution, and not a "follow me" message. This is a wonderful pair to trade and the excitement about it is that it respects pretty well its general long term trends in the shape of nice waves with similar ending characteristics - nice "technical textbook like" trend exhaustion price action patterns in weekly. I personally believe that it is headed for retesting of new lows, which could be fueled by recent headline events affecting carry trade - spikes/trend resuming in oil provokes sell offs in equity markets driving speculative money to oil again, and we have the carry selloffs. I still think this could be a continuation to further bear conditions for this pair.

I wish good luck to all. Thank you for the experience you bring to regular readers like me.
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #719
  • Sep 23, 2008 12:41am Sep 23, 2008 12:41am
We have a candle formed under the 4h Gann hilo but no 4h QQE cross down, once we get the cross down.. this baby is going to tank towards the 4h 50ema which is around 192

But becareful coz if 1h QQE crosses upwards and price manages to get above the 4h gann hilo and break 197, then 199 will be on the cards.
Trade what you see, not what you think.
  • #720
  • Sep 23, 2008 1:03am Sep 23, 2008 1:03am
1hr 50ea as usuall,very stubborn. As long as we emain below 4hr 5sma. There is hope
1 trader viewing now