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Karmo's trading strategy trading GBP/JPY

  • #761
  • Sep 25, 2008 4:55am Sep 25, 2008 4:55am
197.00 is not giving way, tough resistance
Trade what you see, not what you think.
  • #762
  • Sep 25, 2008 5:28am Sep 25, 2008 5:28am
the 200ema has been a very tough resistance on the 4h chart, so I've gone ahead and taken a short from 200ema, let's see how it plays out.
Trade what you see, not what you think.
  • #763
  • Sep 25, 2008 5:57am Sep 25, 2008 5:57am
Quoting karmostaji
the 200ema has been a very tough resistance on the 4h chart, so I've gone ahead and taken a short from 200ema, let's see how it plays out.
What is your target Karmo?

I am aiming for the 4h 50 ema around 194, what do you think?

GP
"You Can Make Money Or Excuses But You Can't Make Both!"
  • #764
  • Sep 25, 2008 5:58am Sep 25, 2008 5:58am
Quoting karmostaji
the 200ema has been a very tough resistance on the 4h chart, so I've gone ahead and taken a short from 200ema, let's see how it plays out.

Why are you not simply taking longs on the bounce(s) off the wedge?

IMHO;that with what i see has been paying off.
  • #765
  • Sep 25, 2008 6:02am Sep 25, 2008 6:02am
Quoting Globalprofits
What is your target Karmo?

I am aiming for the 4h 50 ema around 194, what do you think?

GP
That's a good target, but first I'd like to see the 1h 50ema break, I've set my SL at BE already.
Trade what you see, not what you think.
  • #766
  • Sep 25, 2008 6:03am Sep 25, 2008 6:03am
Quoting femzy112
Why are you not simply taking longs on the bounce(s) off the wedge?

IMHO;that with what i see has been paying off.
It can be played both ways, price is still trading within the wedge
Trade what you see, not what you think.
  • #767
  • Sep 25, 2008 6:04am Sep 25, 2008 6:04am
Quoting karmostaji
the 200ema has been a very tough resistance on the 4h chart, so I've gone ahead and taken a short from 200ema, let's see how it plays out.
It is bouncing off the 1h 50ema again, I just closed it for 40 pips. I'll re-enter short if we get an hourly close below 1h 50ema.
Trade what you see, not what you think.
  • #768
  • Sep 25, 2008 6:12am Sep 25, 2008 6:12am
Quoting karmostaji
That's a good target, but first I'd like to see the 1h 50ema break, I've set my SL at BE already.
Thanks Karmo

GP
"You Can Make Money Or Excuses But You Can't Make Both!"
  • #769
  • Sep 25, 2008 7:21am Sep 25, 2008 7:21am
Price is re-testing 197, will it break this time?
Trade what you see, not what you think.
  • #770
  • Sep 25, 2008 8:08am Sep 25, 2008 8:08am
1h QQE has crossed down and a candle formed below 1h gann hilo, I've gone short at 1h 5sma

1st TP is 195.60
Trade what you see, not what you think.
  • #771
  • Sep 25, 2008 10:33am Sep 25, 2008 10:33am
Quoting karmostaji
1h QQE has crossed down and a candle formed below 1h gann hilo, I've gone short at 1h 5sma

1st TP is 195.60
Price is crazy coz of the bailout news looming around, closed the short for 15 pips.. I feel like a scalper lol
Trade what you see, not what you think.
  • #772
  • Sep 25, 2008 12:16pm Sep 25, 2008 12:16pm
The 4h QQE is suggesting of bullish continuation as long as price trades above the Daily gann hilo. Look at how the 4h chart has been ranging but QQE crossed down and pulling back down while price didn't, I will go long once the 4h QQE crosses back up and we should see atleast the Daily 50ema and then the 50% (200.15)
Always wait for confirmation.
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Trade what you see, not what you think.
  • #773
  • Sep 25, 2008 3:53pm Sep 25, 2008 3:53pm
Quoting karmostaji
The 4h QQE is suggesting of bullish continuation as long as price trades above the Daily gann hilo. Look at how the 4h chart has been ranging but QQE crossed down and pulling back down while price didn't, I will go long once the 4h QQE crosses back up and we should see atleast the Daily 50ema and then the 50% (200.15)
Always wait for confirmation.
correct me if am wrong, 200 is more likely be the top for the current trend and then we gonna start a new trend which gonna end somewhere around 179
I recommend you read something else as this sentence is now concluded.
  • #774
  • Sep 25, 2008 5:28pm Sep 25, 2008 5:28pm
Did anybody see that over 2500 pips spike on all NZD pairs!!!
  • #775
  • Sep 25, 2008 5:35pm Sep 25, 2008 5:35pm
Quoting femzy112
Did anybody see that over 2500 pips spike on all NZD pairs!!!
Bad data, it's not on mine at all.
I dream, therefore I become.
  • #776
  • Sep 25, 2008 5:37pm Sep 25, 2008 5:37pm
Quoting femzy112
Did anybody see that over 2500 pips spike on all NZD pairs!!!
demos accounts, don't trust them :nerd:
  • #777
  • Sep 25, 2008 5:38pm Sep 25, 2008 5:38pm
I guess you are using Alpari....Check ODL or Interbank
  • #778
  • Sep 26, 2008 3:47am Sep 26, 2008 3:47am
A good target for shorts is the Daily gann hilo around 191.30

I wouldn't go long as the 1h QQE crossed upwards and a candle forms above it's gann hilo.

Right now price is bearish and if it manages to get to 4h 5sma, I'll go short.
Trade what you see, not what you think.
  • #779
  • Sep 26, 2008 7:36am Sep 26, 2008 7:36am
The 4h 50ema has been broken and re-tested so I've gone short at 194 and my target is the daily gann hilo 191.30 area
Trade what you see, not what you think.
  • #780
  • Sep 26, 2008 8:00am Sep 26, 2008 8:00am
The bottom today is 192.17, at 261 fib

... or if she decides that 211 is enough, then we've seen it at 213.24

BR, R

Quoting karmostaji
The 4h 50ema has been broken and re-tested so I've gone short at 194 and my target is the daily gann hilo 191.30 area
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