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Karmo's trading strategy trading GBP/JPY

  • #921
  • Oct 13, 2008 3:14am Oct 13, 2008 3:14am
Quoting karmostaji
yah, I'm waiting for this bear flag to be broken to the downside, but it might take a while..
By broken you mean it should break through the lower tl that you drew for the bear flag? Around 170?
  • #922
  • Oct 13, 2008 3:16am Oct 13, 2008 3:16am
Quoting TraderStar
By broken you mean it should break through the lower tl that you drew for the bear flag? Around 170?
yes and I would love a 1h candle close below it, that would be beautiful.
Trade what you see, not what you think.
  • #923
  • Oct 13, 2008 3:17am Oct 13, 2008 3:17am
Quoting karmostaji
yes and I would love a 1h candle close below it, that would be beautiful.
I'm slowly catching on to how this works...
  • #924
  • Oct 13, 2008 3:22am Oct 13, 2008 3:22am
Quoting TraderStar
I'm slowly catching on to how this works...
You just need practice, and then you'll spot similar patterns everywhere and on every TF, the more you practice, the easier it gets so keep on practicing
Trade what you see, not what you think.
  • #925
  • Oct 13, 2008 3:47am Oct 13, 2008 3:47am
Karmo, lets say we might have a bearish cross on 15m right now. So you would enter on 5sma retracement or as the crossover was confirmed after and target how many pips with what size stop? thanks
  • #926
  • Oct 13, 2008 3:59am Oct 13, 2008 3:59am
Karmo, kindly show the picture of your bear flag for me to learn it.

Thanx
  • #927
  • Oct 13, 2008 4:23am Oct 13, 2008 4:23am
Quoting utu
Karmo, kindly show the picture of your bear flag for me to learn it.

Thanx


Are u the UTU POWER in Rwanda Politics
What goes up comes down, so always make Forex better than u met it.
  • #928
  • Oct 13, 2008 4:32am Oct 13, 2008 4:32am
Quoting utu
Karmo, kindly show the picture of your bear flag for me to learn it.

Thanx
I did several posts ago.
Trade what you see, not what you think.
  • #929
  • Oct 13, 2008 4:32am Oct 13, 2008 4:32am
Quoting mustaji
Are u the UTU POWER in Rwanda Politics
Could be...
  • #930
  • Oct 13, 2008 4:34am Oct 13, 2008 4:34am
Quoting belekas
Karmo, lets say we might have a bearish cross on 15m right now. So you would enter on 5sma retracement or as the crossover was confirmed after and target how many pips with what size stop? thanks
15m QQE crossed down earlier but price has not been able to close below 15m gann, this is an indication of bullish continuation for now, but price is still within the bearish flag.

I don't set any specific target, I'll take anything from 20-60 pips and my stops are always 100

I continue to scalp
Trade what you see, not what you think.
  • #931
  • Oct 13, 2008 4:34am Oct 13, 2008 4:34am
Quoting utu
Karmo, kindly show the picture of your bear flag for me to learn it.

Thanx
It is on the previous page, a few posts back.
Regards
  • #932
  • Oct 13, 2008 4:36am Oct 13, 2008 4:36am
Quoting karmostaji
yes and I would love a 1h candle close below it, that would be beautiful.
Hello karmo,take a look about this chart.as u can see we are very close 2 history support line that broke down at 179.30-179.50.and now,after 2 weeks of rally down i think is going to 38.2 fibo b4 it will continue down.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: 1.gif Size: 32 KB
  • #933
  • Oct 13, 2008 4:38am Oct 13, 2008 4:38am
Quoting karmostaji
15m QQE crossed down earlier but price has not been able to close below 15m gann, this is an indication of bullish continuation for now, but price is still within the bearish flag.

I don't set any specific target, I'll take anything from 20-60 pips and my stops are always 100

I continue to scalp
No bearish cross on my 15m QQE... Well its very risky to take 20-60 pips with 100 sl thats what im thinking, no?
  • #934
  • Oct 13, 2008 4:47am Oct 13, 2008 4:47am
Quoting maverik
Hello karmo,take a look about this chart.as u can see we are very close 2 history support line that broke down at 179.30-179.50.and now,after 2 weeks of rally down i think is going to 38.2 fibo b4 it will continue down.
Maybe you are right, price is currently above 4h gann and the next resistance on the 4h chart is the 4h 50ema 177.70 area
Trade what you see, not what you think.
  • #935
  • Oct 13, 2008 4:48am Oct 13, 2008 4:48am
Quoting belekas
No bearish cross on my 15m QQE... Well its very risky to take 20-60 pips with 100 sl thats what im thinking, no?
It is but it works for me.
Trade what you see, not what you think.
  • #936
  • Oct 13, 2008 4:55am Oct 13, 2008 4:55am
Quoting belekas
No bearish cross on my 15m QQE... Well its very risky to take 20-60 pips with 100 sl thats what im thinking, no?
.
Attached Image
Trade what you see, not what you think.
  • #937
  • Oct 13, 2008 6:53am Oct 13, 2008 6:53am
Quoting karmostaji
.
Oh i see. Your using Gann 10 right? Im trying to use Gann 12 for low timeframes as Lil Moe suggested.
  • #938
  • Oct 13, 2008 6:57am Oct 13, 2008 6:57am
Quoting belekas
Oh i see. Your using Gann 10 right? Im trying to use Gann 12 for low timeframes as Lil Moe suggested.
I see, I always used 10 and it works well.
Trade what you see, not what you think.
  • #939
  • Oct 13, 2008 7:04am Oct 13, 2008 7:04am
174.52 is the weekly pivot
175.30 area is the UTL of the bear flag
176.00 is the monthly TL

Lots of resistance above
Trade what you see, not what you think.
  • #940
  • Oct 13, 2008 7:22am Oct 13, 2008 7:22am
Quoting karmostaji
174.52 is the weekly pivot
175.30 area is the UTL of the bear flag
176.00 is the monthly TL

Lots of resistance above
Yes indeed. Last time price touched the monthly TL from the downside on the 9th this month, price bounced hard for more then 1k pips. We now have the similar situation as last time, as price is channeling up in possible bear flag/ascending channel.
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