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Karmo's trading strategy trading GBP/JPY

  • #781
  • Sep 27, 2008 5:18am Sep 27, 2008 5:18am
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
what do you think next Karmo, your target of the daily gann 191.30 wasent hit, do you think it could still hit cos i have just taken some patient pills, am still short
  • #782
  • Sep 27, 2008 9:55am Sep 27, 2008 9:55am
Quoting stanchuks
what do you think next Karmo, your target of the daily gann 191.30 wasent hit, do you think it could still hit cos i have just taken some patient pills, am still short
If you draw fib retracements 190 to 197.30 the 50% retracement was hit bang on at 193.53 and formed support

The RSI hit 40 on the 4 hour and bounced off it.

Right now price is under the 33 and 14 sma on a 4 hour BUT there is now a 1-2-3 buy formation on the 4 hour with targets of 198 , 201.61. If that 197.30 resistance zone is broken we should see 200 / 201.6 with ease

The last week has been very tough to trade ... very tough, with the bearish divergence on the 4 hour rsi it was short the rallies all week off 197 zone. now that the rsi has had a chance to drop and rally on a steep incline we may see another test of 197. If the RSI breaks 60 then for sure we will get a break out of 197.

If price breaks 195.80 then the 33 sma will now form support again. This consolidation has allowed the moving average to catch up with price. Moving averages act as magnets and when price gets to far ahead of them it will either drop back to the moving average or consolidate till the moving average catches up.

With this Bill sitting in Senate technicals have been very hard to trade to this week

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  • #783
  • Sep 28, 2008 10:21pm Sep 28, 2008 10:21pm
Karmo great job


I really like the way you have kept excellent records to show your growth in experience. I was wondering (if you dont mind) do you have a spreadsheet or something too show your profit/loss since you started the thread?,,,,,thanks

Fxcellent
GREED IS THE ULTIMATE INDICATOR
  • #784
  • Sep 28, 2008 11:38pm Sep 28, 2008 11:38pm
Quoting fxcellent
Karmo great job


I really like the way you have kept excellent records to show your growth in experience. I was wondering (if you dont mind) do you have a spreadsheet or something too show your profit/loss since you started the thread?,,,,,thanks

Fxcellent
Actually no since this thread is only about the analysis of GJ and nothing else
Trade what you see, not what you think.
  • #785
  • Sep 28, 2008 11:40pm Sep 28, 2008 11:40pm
Weekly momentum is bearish and the Daily gann hilo on VT charts is at 192.00
A daily close below the daily gann hilo and the daily QQE crossing down, that would give us the signal of a strong bearish movement and I'll be expecting 176/180 area definitely.
Trade what you see, not what you think.
  • #786
  • Sep 29, 2008 1:50am Sep 29, 2008 1:50am
A target for the shorts would be the Daily gann hilo at 192.00

We'll have to see if we either get a bounce or price is going to try and stay below it.
Trade what you see, not what you think.
  • #787
  • Sep 29, 2008 2:49am Sep 29, 2008 2:49am
Quoting karmostaji
A target for the shorts would be the Daily gann hilo at 192.00

We'll have to see if we either get a bounce or price is going to try and stay below it.
Target reached for my shorts

Looks like it's bouncing off daily gann, I might buy with a tight stop
Trade what you see, not what you think.
  • #788
  • Sep 29, 2008 2:54am Sep 29, 2008 2:54am
Quoting karmostaji
Target reached for my shorts

Looks like it's bouncing off daily gann, I might buy with a tight stop
Ok I've taken a long risking 1% with a tight stop

I'll add if we get a 15m signal long based on QQE and gann hilo
Trade what you see, not what you think.
  • #789
  • Sep 29, 2008 4:53am Sep 29, 2008 4:53am
Quoting karmostaji
Ok I've taken a long risking 1% with a tight stop

I'll add if we get a 15m signal long based on QQE and gann hilo
got stopped out, will wait for a confirmed 15m long signal b4 entering long
Trade what you see, not what you think.
  • #790
  • Sep 29, 2008 7:10am Sep 29, 2008 7:10am
4h candle has closed below the 100sma

I'd love to see the daily candle close below the gann hilo with the daily QQE crossing down, that would be a strong signal to go short.
Trade what you see, not what you think.
  • #791
  • Sep 30, 2008 1:53am Sep 30, 2008 1:53am
The Daily QQE has crossed downwards and we have a Daily candle close below the gann hilo, this is a strong bearish signal.

Right now we have a bearish flag (continuation pattern) on the 15m chart, once it is broken to the downside, bearish movement should continue IMO.
Trade what you see, not what you think.
  • #792
  • Sep 30, 2008 12:26pm Sep 30, 2008 12:26pm
we had a 50% retracement of yesterday's fall, price was also rejected by the 1h 50ema

I have taken several shorts and now waiting

My short targets are 184, 180, and 176 area where the Monthly trendline lies.
Trade what you see, not what you think.
  • #793
  • Sep 30, 2008 1:07pm Sep 30, 2008 1:07pm
Quoting karmostaji
we had a 50% retracement of yesterday's fall, price was also rejected by the 1h 50ema

I have taken several shorts and now waiting

My short targets are 184, 180, and 176 area where the Monthly trendline lies.
Ask me, im stuck on 3 shorts, its only my belief that's its in a downtrend why im still tolerating the -100 pip swings. I think its the USDJPY uptrend that's clogging the movements of gj and ej
Nice bird there, wonder how you train birds,
  • #794
  • Sep 30, 2008 3:04pm Sep 30, 2008 3:04pm
4h QQE has crossed upwards but price remains to be trading below 4h gann, indication of bearish continuation as long as price remains below 4h gann

Daily candle closes in 1 hour (VT platform), will update on the daily chart
Trade what you see, not what you think.
  • #795
  • Oct 1, 2008 4:53am Oct 1, 2008 4:53am
Quoting karmostaji
4h QQE has crossed upwards but price remains to be trading below 4h gann, indication of bearish continuation as long as price remains below 4h gann

Daily candle closes in 1 hour (VT platform), will update on the daily chart
I guess we have to be on our toes just in case those crazy people in Washington some how get that bail out plan through in the next couple of days, what are your thoughts on it Karmo?

I guess the simple thing is to keep watching the QQE and gann and just trade the charts and worry about the bail out if it ever happens.

GP
"You Can Make Money Or Excuses But You Can't Make Both!"
  • #796
  • Oct 1, 2008 5:07am Oct 1, 2008 5:07am
Quoting Globalprofits
I guess we have to be on our toes just in case those crazy people in Washington some how get that bail out plan through in the next couple of days, what are your thoughts on it Karmo?

I guess the simple thing is to keep watching the QQE and gann and just trade the charts and worry about the bail out if it ever happens.

GP
I do have that at the back of my mind, but something interesting happened the other day. The Fed Bernanke pumped into the markets nearly 630 billion and it did basically nothing to the market, so if we do get this bailout of 700b, is it enough? Logically to me I don't think so.

I'll stick to my charts
Trade what you see, not what you think.
  • #797
  • Oct 1, 2008 5:11am Oct 1, 2008 5:11am
Quoting karmostaji
I do have that at the back of my mind, but something interesting happened the other day. The Fed Bernanke pumped into the markets nearly 630 billion and it did basically nothing to the market, so if we do get this bailout of 700b, is it enough? Logically to me I don't think so.

I'll stick to my charts
I guess it will be a watered down plan as well just to get it through.

Thanks Karmo

GP
"You Can Make Money Or Excuses But You Can't Make Both!"
  • #798
  • Oct 2, 2008 3:37am Oct 2, 2008 3:37am
Quoting karmostaji
4h QQE has crossed upwards but price remains to be trading below 4h gann, indication of bearish continuation as long as price remains below 4h gann

Daily candle closes in 1 hour (VT platform), will update on the daily chart
the 4h worked just as expected, it has crossed back down and should be expecting more downside.

My targets are 184, 180, and 176 area.

Daily QQE is crossed down and price is trading comfortably below the Daily gann hilo.
Trade what you see, not what you think.
  • #799
  • Oct 2, 2008 7:57am Oct 2, 2008 7:57am
I'm still holding onto my shorts, we are getting close to my 1st target of 184
Trade what you see, not what you think.
  • #800
  • Oct 2, 2008 8:32am Oct 2, 2008 8:32am
Quoting karmostaji
the 4h worked just as expected, it has crossed back down and should be expecting more downside.

My targets are 184, 180, and 176 area.

Daily QQE is crossed down and price is trading comfortably below the Daily gann hilo.

Let's see some charts my brother.
Indicators show the past. Price Action "Indicates" the future.
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