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Karmo's trading strategy trading GBP/JPY

  • #721
  • Sep 23, 2008 3:02am Sep 23, 2008 3:02am
New 4h momentum remains bearish and 4h gann hilo moved to 196.30 (resistance)

4h QQE hasn't confirmed crossing downwards yet..
Trade what you see, not what you think.
  • #722
  • Sep 23, 2008 3:14am Sep 23, 2008 3:14am
Quoting karmostaji
New 4h momentum remains bearish and 4h gann hilo moved to 196.30 (resistance)

4h QQE hasn't confirmed crossing downwards yet..
Price bouncing off the 4h Gann hilo
Attached Image
Trade what you see, not what you think.
  • #723
  • Sep 23, 2008 3:24am Sep 23, 2008 3:24am
Price seems to be nervous, jumping up and down like a maniac.. I just hope it would get back to normal price movement and not this crazy 50 pips up n down within minutes
Trade what you see, not what you think.
  • #724
  • Sep 23, 2008 3:39am Sep 23, 2008 3:39am
Quoting karmostaji
Price seems to be nervous, jumping up and down like a maniac.. I just hope it would get back to normal price movement and not this crazy 50 pips up n down within minutes
Lucky we have those patience pills!

GP
"You Can Make Money Or Excuses But You Can't Make Both!"
  • #725
  • Sep 23, 2008 4:23am Sep 23, 2008 4:23am
Quoting Globalprofits
Lucky we have those patience pills!

GP
Do they come in super-strength??
  • #726
  • Sep 23, 2008 6:01am Sep 23, 2008 6:01am
Waiting for a breakout...
Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 22 KB
Trade what you see, not what you think.
  • #727
  • Sep 23, 2008 10:45am Sep 23, 2008 10:45am
Quoting karmostaji
Waiting for a breakout...
So your bias is to the upside now?
She is still as schizophrenic as ever
  • #728
  • Sep 23, 2008 11:58am Sep 23, 2008 11:58am
Quoting TraderStar
So your bias is to the upside now?
She is still as schizophrenic as ever
no, actually more to the downside but I'll wait for a breakout of 197 or 195, price is currently trading between these 2 prices on the 1h chart.
Trade what you see, not what you think.
  • #729
  • Sep 23, 2008 12:21pm Sep 23, 2008 12:21pm
Quoting karmostaji
Waiting for a breakout...
Karmo’s what is your TP for this trade
  • #730
  • Sep 23, 2008 1:47pm Sep 23, 2008 1:47pm
Quoting karmostaji
no, actually more to the downside but I'll wait for a breakout of 197 or 195, price is currently trading between these 2 prices on the 1h chart.
Oh ok, I assumed you meant up when you said breakout (I call the other way a breakdown ) But that's right, it can break out in either direction...
  • #731
  • Sep 23, 2008 10:31pm Sep 23, 2008 10:31pm
From the fib of last SH SL on daily, there is a 61.8 retracement at the weekly pivot and monthly S1 ... my vote would be a retracement to at least this level (192.70) before perhaps another fast run up to the weekly R1 area around 201. Not that she pays much attention to pivot or s/r levels but she will often barrel through them then come screeching to a halt and reverse, there are fe's on either side of the weekly R1.
  • #732
  • Sep 24, 2008 2:17am Sep 24, 2008 2:17am
Quoting karmostaji
Waiting for a breakout...
Price just broke to the upside and I have gone long, TP is the Daily 50ema 198.60 and then 200 if that is broken
Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 20 KB
Trade what you see, not what you think.
  • #733
  • Sep 24, 2008 2:49am Sep 24, 2008 2:49am
Quoting karmostaji
Price just broke to the upside and I have gone long, TP is the Daily 50ema 198.60 and then 200 if that is broken
hi karmo. please look at my chart which shows it has not broke to the upside. infact the last candle closed right on it and this new candle is retreating. i noticed the diferance in drawing the lines between you and i. i have drawn from top of wicks which is 41 candles ago. where you have drawn a line to the candle which is 40 candles ago and a lower high than the candle previous to that. please dont think that i am corecting you, far from it. most likely i have drawn it wrong. for educational reasons, just want to know why you've drawn the line to a lower candle as i just explained.
Attached Image (click to enlarge)
Click to Enlarge Name: chart 1.gif Size: 20 KB
  • #734
  • Sep 24, 2008 2:54am Sep 24, 2008 2:54am
sory karmo, bad picture. here is a close up. its the candle with a tick on it that i am talking about that is a higher high
Attached Image (click to enlarge)
Click to Enlarge Name: chart 1.gif Size: 21 KB
  • #735
  • Sep 24, 2008 3:02am Sep 24, 2008 3:02am
Price has also closed above the 200ema on the 4h chart, another bullish sign
4h momentum is also pointing upwards.
Trade what you see, not what you think.
  • #736
  • Sep 24, 2008 3:05am Sep 24, 2008 3:05am
Quoting Macedonia
hi karmo. please look at my chart which shows it has not broke to the upside. infact the last candle closed right on it and this new candle is retreating. i noticed the diferance in drawing the lines between you and i. i have drawn from top of wicks which is 41 candles ago. where you have drawn a line to the candle which is 40 candles ago and a lower high than the candle previous to that. please dont think that i am corecting you, far from it. most likely i have drawn it wrong. for educational reasons, just want to know why you've drawn the line to a lower candle as i just explained.
I just drew a horizontal line at 197 because that level seemed to be resistance to me, and it looks like it has turned into support now.
Trade what you see, not what you think.
  • #737
  • Sep 24, 2008 3:09am Sep 24, 2008 3:09am
  • #738
  • Sep 24, 2008 3:11am Sep 24, 2008 3:11am
Quoting karmostaji
I just drew a horizontal line at 197 because that level seemed to be resistance to me, and it looks like it has turned into support now.
Yeh thanks for your reply, i have noticed there is more than one candle that there highs are where you drew your line. so there must have been some sort of resistance there. thanks again
  • #739
  • Sep 24, 2008 3:13am Sep 24, 2008 3:13am
Quoting Macedonia
Yeh thanks for your reply, i have noticed there is more than one candle that there highs are where you drew your line. so there must have been some sort of resistance there. thanks again
plus the 200ema on the 4H was at 197 and acting as resistance, np
Trade what you see, not what you think.
  • #740
  • Sep 24, 2008 3:15am Sep 24, 2008 3:15am
good morning
I recommend you read something else as this sentence is now concluded.
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