Karmo's trading strategy trading GBP/JPY | Page 49 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

GBP/AUD, GBP/CAD, GBP/CHF and GBP/NZD thread 126 replies

simplest strategy for GBP/ JPY 101 replies

long eur/jpy, gbp/jpy, usd/jpy 11 replies

strategy HILO on GBP/JPY 406 replies

Gbp/jpy = Gbp/usd X Usd/jpy ?? 5 replies

Attachments: Karmo's trading strategy trading GBP/JPY
Exit Attachments

Karmo's trading strategy trading GBP/JPY

  • #961
  • Oct 14, 2008 8:53am Oct 14, 2008 8:53am
Quoting TraderStar
Just a few minutes to go on 1h and it is well below the gann. 4h gann still pretty far away tho.

Chomp.
yah I know, for more downside 177.8 needs to break otherwise the bull-run will continue once the 1h QQE is ready to cross back up.
Trade what you see, not what you think.
  • #962
  • Oct 14, 2008 9:04am Oct 14, 2008 9:04am
Quoting karmostaji
yah I know, for more downside 177.8 needs to break otherwise the bull-run will continue once the 1h QQE is ready to cross back up.
177.27 is where monthly R2 crosses with a down tl from Sept ... if it breaks that point, that would be weak .. also 4h gann might meet it there.
  • #963
  • Oct 14, 2008 9:38am Oct 14, 2008 9:38am
Quoting karmostaji
yah I know, for more downside 177.8 needs to break otherwise the bull-run will continue once the 1h QQE is ready to cross back up.
Damn I love you Karmo. I've made more money using the QQE's and Gann method in the past two days than I did all last week. Thanks man! If I see any setups while I'm lurking, I'll post charts for a heads up on opportunities.
I dream, therefore I become.
  • #964
  • Oct 14, 2008 10:42am Oct 14, 2008 10:42am
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
Hi Karmo, Pls can u give details on the way u scalp. What is the setting for the QQE (soothing). I will be glad if u reply me. thanks. Nerry.
  • #965
  • Oct 14, 2008 11:41am Oct 14, 2008 11:41am
Quoting mike w
Damn I love you Karmo. I've made more money using the QQE's and Gann method in the past two days than I did all last week. Thanks man! If I see any setups while I'm lurking, I'll post charts for a heads up on opportunities.
Please do that .. I am interested to know which timeframes you were trading off of & if going for scalps (20-50 pips) or longer moves.
  • #966
  • Oct 14, 2008 11:58am Oct 14, 2008 11:58am
There's possibly a 5 minute opp. coming up which I'd be targeting the 50 ema on a break above the gann line. I would, of course, take less however. Trading is all about protecting the gains that you've made, no matter if it is 20 pips or 100. This is ONLY and I mean ONLY if we break above the Gann line.
Attached Image (click to enlarge)
Click to Enlarge Name: five minute.gif Size: 14 KB
I dream, therefore I become.
  • #967
  • Oct 14, 2008 12:03pm Oct 14, 2008 12:03pm
Everything is setting up perfectly if the daily candle closes bearishly as a pin. We've seen the 50% retracement today, which is not coincidentally where the resistance from the Gann line kicked into play as well. Price rejected nicely, and IF we see that bearish daily close, shorts should be the way to go.

If your a more conservative trader, waiting for the 4 hour QQE's and Gann line to break down would be the best way to go IMO.

As you can see, things are still Iffy until we get confirmations from the charts.

Don't think, instead you just need to react.
Attached Image (click to enlarge)
Click to Enlarge Name: direct opposite.gif Size: 13 KB
I dream, therefore I become.
  • #968
  • Oct 14, 2008 12:10pm Oct 14, 2008 12:10pm
I;m waiting for a retracement to the 5 sma now for that 5 minute entry before going long in order to gain the best price. If we don't see it, oh well, no trade for me until we do and price is reasonable (40's).
I dream, therefore I become.
  • #969
  • Oct 14, 2008 12:36pm Oct 14, 2008 12:36pm
Quoting mike w
I;m waiting for a retracement to the 5 sma now for that 5 minute entry before going long in order to gain the best price. If we don't see it, oh well, no trade for me until we do and price is reasonable (40's).
Thanks for that Mike, I was following that.
  • #970
  • Oct 14, 2008 1:03pm Oct 14, 2008 1:03pm
Quoting PippinL
Thanks for that Mike, I was following that.
Sure thing. We got to the 50 ema and I took profit there.

You'll notice on your 15 minute charts we saw a bearish pin coming off the gann line on the last close and the QQEs are still down. This is telling me to stay short from here. I'll be adding to the shorts on a 5 minute close below the Gann line and QQE cross down as well. I think I will be holding onto these for a while, although I will be setting myself into profit quickly in case this news upsets the market.
Attached Image (click to enlarge)
Click to Enlarge Name: fifteen minute.gif Size: 15 KB
I dream, therefore I become.
  • #971
  • Oct 14, 2008 1:07pm Oct 14, 2008 1:07pm
Here's that 5 minute close. Now we need to wait for the QQE to cross, a confirmation candle and Hopefully a retracement to the 5 sma.
Attached Image (click to enlarge)
Click to Enlarge Name: five minute two.gif Size: 15 KB
I dream, therefore I become.
  • #972
  • Oct 14, 2008 1:11pm Oct 14, 2008 1:11pm
Excellent stuff Mike, keep it going
Trade what you see, not what you think.
  • #973
  • Oct 14, 2008 1:14pm Oct 14, 2008 1:14pm
Quoting karmostaji
Excellent stuff Mike, keep it going
Thanks Karmo, it's only good because you turned me onto it! So thanks for that my man! I've been scalping all day long and I am beat lol I'm jst waiting for the daily close and then opening longer term positions, then getting some sleep.
I dream, therefore I become.
  • #974
  • Oct 14, 2008 1:14pm Oct 14, 2008 1:14pm
Thanks Mike, I'm learning from this.
Take a look at the fibbo clusters I have charted on the Daily and see what you think.
Attached Image (click to enlarge)
Click to Enlarge Name: gj cluster 141008.gif Size: 14 KB
  • #975
  • Oct 14, 2008 1:15pm Oct 14, 2008 1:15pm
Quoting PippinL
Thanks Mike, I'm learning from this.
Take a look at the fibbo clusters I have charted on the Daily and see what you think.
That's exactly how I have mine set up as well. Good stuff man!
I dream, therefore I become.
  • #976
  • Oct 14, 2008 1:17pm Oct 14, 2008 1:17pm
Once 4h QQE crosses down and we get a candle below 4h gann, this beast should tank downwards..
Trade what you see, not what you think.
  • #977
  • Oct 14, 2008 1:21pm Oct 14, 2008 1:21pm
Quoting karmostaji
Once 4h QQE crosses down and we get a candle below 4h gann, this beast should tank downwards..
I dream, therefore I become.
  • #978
  • Oct 14, 2008 1:27pm Oct 14, 2008 1:27pm
Quoting mike w
Here's that 5 minute close. Now we need to wait for the QQE to cross, a confirmation candle and Hopefully a retracement to the 5 sma.
Yeah Thanks, I'm not so use to the GJ, although I'm liking it. What Stop loss are you using on these 5 min entries?
  • #979
  • Oct 14, 2008 1:35pm Oct 14, 2008 1:35pm
Quoting PippinL
Yeah Thanks, I'm not so use to the GJ, although I'm liking it. What Stop loss are you using on these 5 min entries?
Above and below the Gann lines, or if my take profit hasn't been hit and price reverses to the opposite- a cross above or below- I will reverse the position. Occasionally, if I see a solid wall of S/R, I will place stops above or below that point.

The 5 minute will give you whipsaws occasionally, especially in a range. The 15 minute, however, shows less whipsaws and more profit potential. The higher up the timeframe you move, the better chances for larger profit there are.

Karmo may trade differently, and if he does, go with his way of doing things. He is the KING with this method. I'm just a peon lol Karmo, do you trade the 5 and 15 minute differently?
I dream, therefore I become.
  • #980
  • Oct 14, 2008 1:40pm Oct 14, 2008 1:40pm
Quoting mike w
Above and below the Gann lines, or if my take profit hasn't been hit and price reverses to the opposite- a cross above or below- I will reverse the position. Occasionally, if I see a solid wall of S/R, I will place stops above or below that point.

The 5 minute will give you whipsaws occasionally, especially in a range. The 15 minute, however, shows less whipsaws and more profit potential. The higher up the timeframe you move, the better chances for larger profit there are.

Karmo may trade differently, and if he does, go with his way of doing things. He is the KING with this method. I'm just a peon lol Karmo, do you trade the 5 and 15 minute differently?
Ok Mike, That's great thanks. I like this Gann QQE.scheme. It's very effective.
0 traders viewing now