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Karmo's trading strategy trading GBP/JPY

  • #941
  • Oct 13, 2008 9:04am Oct 13, 2008 9:04am
Bulls are getting exhausted, 175 is a good R level also
Trade what you see, not what you think.
  • #942
  • Oct 13, 2008 9:41am Oct 13, 2008 9:41am
Price is at the UTL of the bear flag, hopefully a bounce from here
Trade what you see, not what you think.
  • #943
  • Oct 13, 2008 9:43am Oct 13, 2008 9:43am
Quoting karmostaji
Price is at the UTL of the bear flag, hopefully a bounce from here
.
Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 23 KB
Trade what you see, not what you think.
  • #944
  • Oct 13, 2008 9:51am Oct 13, 2008 9:51am
Quoting karmostaji
Price is at the UTL of the bear flag, hopefully a bounce from here
Looks like mine is @ 176. Different feeds different paintings. damn...
  • #945
  • Oct 13, 2008 10:03am Oct 13, 2008 10:03am
my 5m still shows bull intentions. am I wrong?
  • #946
  • Oct 13, 2008 12:38pm Oct 13, 2008 12:38pm
hello Karmo, my name is Val, ive been reading your thread for a few weeks now and have got alot of good stuff ( im an new guy), im still on demo (third one) and have been wanting to ask you about if you can direct or just let me know where to start to learn the right way of scalping... thanks again for all the info
  • #947
  • Oct 13, 2008 1:16pm Oct 13, 2008 1:16pm
Quoting fxrider1
hello Karmo, my name is Val, ive been reading your thread for a few weeks now and have got alot of good stuff ( im an new guy), im still on demo (third one) and have been wanting to ask you about if you can direct or just let me know where to start to learn the right way of scalping... thanks again for all the info
I use the same strategy but I use 5m/15m charts for scalping, everything is in this thread. There are many examples available and charts as well.

The same strategy can be applied on any TF, you can test it out.
Trade what you see, not what you think.
  • #948
  • Oct 13, 2008 2:58pm Oct 13, 2008 2:58pm
Resistance area should somewhere here
Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 26 KB
Trade what you see, not what you think.
  • #949
  • Oct 13, 2008 3:37pm Oct 13, 2008 3:37pm
Price bounced off 4h 50ema
Trade what you see, not what you think.
  • #950
  • Oct 14, 2008 1:05am Oct 14, 2008 1:05am
Quoting karmostaji
Price bounced off 4h 50ema


Implication, bouncing direction.
What goes up comes down, so always make Forex better than u met it.
  • #951
  • Oct 14, 2008 1:45am Oct 14, 2008 1:45am
Any thoughts as to direction from here?
Perhaps a retrace to weekly pivot then more upside (before more downside)?

All major pairs seem to have similar patterns, if there is follow through in the US market today, which I suspect there will be since everything is heavily manipulated now .. then GU, GY, EU could retrace just to build up steam before another push up.

I shall pop a patience pill in the meantime & await the latest prophecy from karmo's crystal ball
  • #952
  • Oct 14, 2008 6:00am Oct 14, 2008 6:00am
4H TL Broken, re-test and now heading to 50% and 61.8% fibo levels

The Major (Daily/Weekly) trend is still down IMO.
Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 23 KB
Trade what you see, not what you think.
  • #953
  • Oct 14, 2008 6:07am Oct 14, 2008 6:07am
Next targets are 50% 181.70 and 184.50 61.8%, plus we have the weekly 5sma close to 61.8% so yah keep an eye on that level.

If those don't stop the bulls, then 190.50 where we have a daily TL and 78.6% fibo.
Trade what you see, not what you think.
  • #954
  • Oct 14, 2008 6:41am Oct 14, 2008 6:41am
I have successfully Downloaded QQE and GannHiLo but it refuse to Open.
What is the suitable Package to be used in Opening those packages, Pls Just help out I need to start using them on my own.

Thanks.
What goes up comes down, so always make Forex better than u met it.
  • #955
  • Oct 14, 2008 6:56am Oct 14, 2008 6:56am
Quoting mustaji
I have successfully Downloaded QQE and GannHiLo but it refuse to Open.
What is the suitable Package to be used in Opening those packages, Pls Just help out I need to start using them on my own.

Thanks.
You need to copy them in your MT4 experts > indicators folder and then restart your MT4
Trade what you see, not what you think.
  • #956
  • Oct 14, 2008 10:22am Oct 14, 2008 10:22am
Quoting karmostaji
4H TL Broken, re-test and now heading to 50% and 61.8% fibo levels

The Major (Daily/Weekly) trend is still down IMO.
I see another up TL that can be drawn and price is now testing the understide of that on the 4 hr and trading between the 2 TLs.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy.gif Size: 27 KB
  • #957
  • Oct 14, 2008 10:24am Oct 14, 2008 10:24am
Quoting mustaji
I have successfully Downloaded QQE and GannHiLo but it refuse to Open.
What is the suitable Package to be used in Opening those packages, Pls Just help out I need to start using them on my own.

Thanks.
You can right click on the indicator, choose Save As and save it to your MT4 folder: C://Program Files/YourMT4Program/experts/indicators.

There are 2 indicator folders, make sure it goes into the one under experts.

If it is in a zip file, either extract it to that folder, or just drag it there (not the zip file, the indicators)
  • #958
  • Oct 14, 2008 10:26am Oct 14, 2008 10:26am
Price looking to close below gann on 1h, qqe crossed down, RSI coming off the 70 level .. lots of bearish action here as well.

I now have popcorn-flavored patience pills, I will just munch on them and wait for something resembling probability to set up.
  • #959
  • Oct 14, 2008 10:27am Oct 14, 2008 10:27am
the 1h QQE suggests bullish continuation as long as price remains above 4h gann

1h QQE has crossed down but price is currently above 1h gann, so it looks like the QQE is getting itself out of overbought levels and then we'll have another push up towards the 61.8% fibo

if 4h QQE crosses down n a candle close below 4h gann, then bears will be back strongly!
Trade what you see, not what you think.
  • #960
  • Oct 14, 2008 10:52am Oct 14, 2008 10:52am
Quoting karmostaji
the 1h QQE suggests bullish continuation as long as price remains above 4h gann

1h QQE has crossed down but price is currently above 1h gann, so it looks like the QQE is getting itself out of overbought levels and then we'll have another push up towards the 61.8% fibo

if 4h QQE crosses down n a candle close below 4h gann, then bears will be back strongly!
Just a few minutes to go on 1h and it is well below the gann. 4h gann still pretty far away tho.

Chomp.
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