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Karmo's trading strategy trading GBP/JPY

  • #861
  • Oct 7, 2008 10:42am Oct 7, 2008 10:42am
Quoting stanchuks
posted earlier, could i get a link to your indicators?
what indicator are you looking for?
Trade what you see, not what you think.
  • #862
  • Oct 7, 2008 11:05am Oct 7, 2008 11:05am
karmo the divergence indicator is very bearish at the moment we could see GJ going down 176 any time now...300 pip drop ??
  • #863
  • Oct 7, 2008 11:16am Oct 7, 2008 11:16am
Quoting karmostaji
what indicator are you looking for?
gann hilo
QQE

basically the one that i cant find on my MT4
Thanks karmo in advance , i will have a lot of time this weekend to go through your thread and without the indicators i might not flow well

cheers
  • #864
  • Oct 7, 2008 11:19am Oct 7, 2008 11:19am
Quoting stanchuks
gann hilo
QQE

basically the one that i cant find on my MT4
Thanks karmo in advance , i will have a lot of time this weekend to go through your thread and without the indicators i might not flow well

cheers
here you go
http://www.forexfactory.com/showpost...&postcount=654
Trade what you see, not what you think.
  • #865
  • Oct 7, 2008 11:21am Oct 7, 2008 11:21am
Quoting karmostaji
what indicator are you looking for?
Maybe he looking for this..
(setting / template of this combination)

Quoting karmostaji

The indicators I use are:

  1. Fibonacci retracement levels
  2. Trendlines/Channels
  3. 5 period simple MA
  4. Candlestick patterns
  5. Support/Resistance levels
  6. Momentum

  • #866
  • Oct 7, 2008 11:23am Oct 7, 2008 11:23am
Price remains trading below 4h gann but 4h QQE is already crossed up, this is an indication of strong bearish continuation as long as price remains below 4h gann hilo. The confirmation is once the 1h QQE crosses downwards.
Attached Image
Trade what you see, not what you think.
  • #867
  • Oct 7, 2008 11:31am Oct 7, 2008 11:31am
[quote=karmostaji;2265012]here you go
http://www.forexfactory.com/showpost...654[/quote]

Thanks a lot bro
  • #868
  • Oct 7, 2008 12:11pm Oct 7, 2008 12:11pm
Quoting karmostaji
Price remains trading below 4h gann but 4h QQE is already crossed up, this is an indication of strong bearish continuation as long as price remains below 4h gann hilo. The confirmation is once the 1h QQE crosses downwards.

Dear karmo

I am also from dubai and trade forex since last 5 years but not so technical like you specially a beast like gbpjpy i have had bad experiences on it many times but looking at your posts on this thread feel to find it safe if i follow your findings and posts. Keep up the good work bro and hope to talk to you soon one day. Take care and god bless bro

Balaji
  • #869
  • Oct 7, 2008 12:34pm Oct 7, 2008 12:34pm
Quoting karmostaji
Price remains trading below 4h gann but 4h QQE is already crossed up, this is an indication of strong bearish continuation as long as price remains below 4h gann hilo. The confirmation is once the 1h QQE crosses downwards.
Karmo, did you always use 1H for the confirmation..?
what about small tf like 15M or 30M?
  • #870
  • Oct 7, 2008 12:35pm Oct 7, 2008 12:35pm
Quoting balajis
Dear karmo

I am also from dubai and trade forex since last 5 years but not so technical like you specially a beast like gbpjpy i have had bad experiences on it many times but looking at your posts on this thread feel to find it safe if i follow your findings and posts. Keep up the good work bro and hope to talk to you soon one day. Take care and god bless bro

Balaji
Welcome to the thread Balaji

I hope this thread is going to benefit you and hopefully you'll learn a thing or two
Trade what you see, not what you think.
  • #871
  • Oct 7, 2008 12:37pm Oct 7, 2008 12:37pm
Quoting Fiesta_id
Karmo, did you always use 1H for the confirmation..?
what about small tf like 15M or 30M?
You can but in this situation I'm waiting for the 1h QQE because looking at the 1h chart, you can see that supporting trendline, price is currently bouncing a bit off it and I'd like to see price break that as well. IMO if 1h QQE crosses down then that TL is going to break also.
Trade what you see, not what you think.
  • #872
  • Oct 7, 2008 1:04pm Oct 7, 2008 1:04pm
and you use 5SMA for good entry, how about for exit ?
if you have target, how you decide your target?

thanks Karmo



PS: now we have Closing candle below Gann 1H, but QQE 1H still not cross downwards yet.., correct or not..?
  • #873
  • Edited 1:28pm Oct 7, 2008 1:06pm | Edited 1:28pm
Just came back from the gym and saw that we had 15m QQE crossed down and candle closed below 15m gann. Was nice and easy 250 pips. Damn, im so unlucky these days. Always missing nice trades with bad timeing After closing the short trade on the broadening formations LTL, we could have gone long and that would yielded ~150 pips as well.
  • #874
  • Oct 7, 2008 1:15pm Oct 7, 2008 1:15pm
Quoting Fiesta_id
and you use 5SMA for good entry, how about for exit ?
if you have target, how you decide your target?

thanks Karmo



PS: now we have Closing candle below Gann 1H, but QQE 1H still not cross downwards yet.., correct or not..?
I set my targets based on S/R levels and fibo levels and TL's.

Yah 1h candle close below gann, but waiting for 1h QQE to cross and the supporting TL to break.
Trade what you see, not what you think.
  • #875
  • Oct 7, 2008 8:12pm Oct 7, 2008 8:12pm
hey karmostaji, i got a question, what's the difference between the bullish/bearish divergence and the hidden divergence? or they're the same? ... if so, which indicator you prefer to use to catch them? macd, rsi or cci?
I recommend you read something else as this sentence is now concluded.
  • #876
  • Oct 8, 2008 1:54am Oct 8, 2008 1:54am
Quoting Obaidah
hey karmostaji, i got a question, what's the difference between the bullish/bearish divergence and the hidden divergence? or they're the same? ... if so, which indicator you prefer to use to catch them? macd, rsi or cci?
I don't use any of these indicators, you need to ask Scrat, lilmoe or malcolmb
Trade what you see, not what you think.
  • #877
  • Oct 8, 2008 2:02am Oct 8, 2008 2:02am
Quoting karmostaji
If price remains below 4h gann and we get the 1h QQE to cross down, that would be very bearish because the 4h QQE has already crossed up much earlier on but price not able to get above 4h gann, if this scenario plays out then expect a new low.
I took that DIBS trade on the Hourly. Your strategy help confirm that decision. Thanks as always.

1st half 1:1. Second half . . . hmmm . . . alot.

(sorry can't post charts, not at home).

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #878
  • Oct 8, 2008 2:03am Oct 8, 2008 2:03am
Quoting karmostaji
I set my targets based on S/R levels and fibo levels and TL's.

Yah 1h candle close below gann, but waiting for 1h QQE to cross and the supporting TL to break.
1h QQE crossed down and TL broke, 174 has been re-tested, if it breaks then 170 is on the table
Trade what you see, not what you think.
  • #879
  • Oct 8, 2008 2:41am Oct 8, 2008 2:41am
If price remains below 1h 50ema and 1h Gann hilo, and the 15m QQE crosses back down then GJ should head back down to re-test 174 and maybe break it.
Trade what you see, not what you think.
  • #880
  • Oct 8, 2008 3:53am Oct 8, 2008 3:53am
I never really tried scalping GJ, I'm going to try scalping using the 5m and 15m QQE and Gann hilo, in addition to the 50ema, 200ema, 100sma, and ofcourse the 5sma. Targeting 30-50 pips only

I'm still going to trade higher TF still
Trade what you see, not what you think.
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