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Karmo's trading strategy trading GBP/JPY

  • #1,001
  • Oct 16, 2008 10:27am Oct 16, 2008 10:27am
Quoting TraderStar
If the 1 hr closes below the gann and qqe moving down, on a scale of 1 to 10 how probable do you think it is that it then goes to 166? I'd say 8

I'm not going to trade off this and I know it is just your opinion and you could be dead wrong, but I am just wanting to know your take on the degree of probability once the gann-qqe conditions are setup correctly for a short (and I know numerous other conditions for this particular short have already been met)

And btw, are you an American (or Brit) living in Dubai? Or are you native to that part of the world, and if so .. how did you learn such fluent english?? I'm a native, I've learned from Grade 1, here in our schools they teach us Arabic and English as the main languages, plus everything I studied at my university was in English, so yah that's how
.
Trade what you see, not what you think.
  • #1,002
  • Oct 16, 2008 10:29am Oct 16, 2008 10:29am
Quoting dreed
What was your entry price karmo?
I've got from 173.50 and I added now at the retest of the broken flag on the 15m
Trade what you see, not what you think.
  • #1,003
  • Oct 16, 2008 10:37am Oct 16, 2008 10:37am
Quoting karmostaji
And btw, are you an American (or Brit) living in Dubai? Or are you native to that part of the world, and if so .. how did you learn such fluent english?? I'm a native, I've learned from Grade 1, here in our schools they teach us Arabic and English as the main languages, plus everything I studied at my university was in English, so yah that's how
Yes, the US is the most backward country in the world in that regard. We should be teaching Spanish from grade 1 and adding in a language like arabic or chinese in grade 7. We are insane.
My kids were raised in Europe, so they all speak 2 languages, a couple of them know 3 or 4.
  • #1,004
  • Oct 16, 2008 10:40am Oct 16, 2008 10:40am
Quoting TraderStar
Yes, the US is the most backward country in the world in that regard. We should be teaching Spanish from grade 1 and adding in a language like arabic or chinese in grade 7. We are insane.
My kids were raised in Europe, so they all speak 2 languages, a couple of them know 3 or 4.
That's cool.

I actually speak 4 languages, Arabic, English, Persian and Urdu (Indian)
Trade what you see, not what you think.
  • #1,005
  • Oct 16, 2008 11:58am Oct 16, 2008 11:58am
Quoting karmostaji
That's cool.

I actually speak 4 languages, Arabic, English, Persian and Urdu (Indian)
Well if the forex gig doesn't work out for you, you'll never be unemployed!
  • #1,006
  • Oct 16, 2008 12:24pm Oct 16, 2008 12:24pm
Quoting karmostaji
That's cool.

I actually speak 4 languages, Arabic, English, Persian and Urdu (Indian)
karmo you fogot GBPJPY
sorry i felt thats the language you speak best lol
bigups
  • #1,007
  • Oct 16, 2008 4:52pm Oct 16, 2008 4:52pm
Hey, Karmo.

I have seen the momentum indicator period set to 1, 10 and 14 sometimes all right on top of one another.

In reading content here i have seen reference to weekly, daily, 4 hour and more time frames.

Do you use all of these periods and time frames? I did some searches and couldn't find a specific answer to my question. In your posts i think i see more references to H4 and daily time frames but i don't want to make assumptions.

Thanks!

Jay
  • #1,008
  • Oct 17, 2008 12:09am Oct 17, 2008 12:09am
Quoting karmostaji
That's cool.

I actually speak 4 languages, Arabic, English, Persian and Urdu (Indian)
mashallah
  • #1,009
  • Oct 17, 2008 5:57am Oct 17, 2008 5:57am
Food for thought...

Doing a fib from the previous high of 197.4 to the low of 166.6 it retraced first to the 50, then dropped to the 38.2. Now it has found support/ resistance under the sma200 / 30m.

Does anyone think this might continue down?
  • #1,010
  • Oct 17, 2008 2:43pm Oct 17, 2008 2:43pm
Quoting magnadyne
Food for thought...

Doing a fib from the previous high of 197.4 to the low of 166.6 it retraced first to the 50, then dropped to the 38.2. Now it has found support/ resistance under the sma200 / 30m.

Does anyone think this might continue down?
karmo & forex lion think so, and I do too (although my opinion not worth much! LOL)
  • #1,011
  • Oct 19, 2008 8:27am Oct 19, 2008 8:27am
Quoting magnadyne
Food for thought...

Doing a fib from the previous high of 197.4 to the low of 166.6 it retraced first to the 50, then dropped to the 38.2. Now it has found support/ resistance under the sma200 / 30m.

Does anyone think this might continue down?
yes once the retracement is over, price is still bouncing between the retracement fib levels
Trade what you see, not what you think.
  • #1,012
  • Oct 19, 2008 2:43pm Oct 19, 2008 2:43pm
Price bounced off the 78.6% fibo but we have a weekly candle close below the monthly TL and this last week it retested the TL and this might it might head back down if the monthly TL is truly broken.
Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 17 KB
Trade what you see, not what you think.
  • #1,013
  • Oct 19, 2008 2:45pm Oct 19, 2008 2:45pm
the 4h/daily chart shows that price is currently in a big bear flag, wait for a true breakout
Keep it simple
Attached Image (click to enlarge)
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Trade what you see, not what you think.
  • #1,014
  • Oct 20, 2008 4:59am Oct 20, 2008 4:59am
38.2% turned into support, next level is 50% and then 61.8%
Attached Image (click to enlarge)
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Trade what you see, not what you think.
  • #1,015
  • Oct 20, 2008 6:45am Oct 20, 2008 6:45am
The Daily QQE suggest bearish continuation, sometime last week the daily QQE started crossing upwards but price has not been able to close above the daily gann hilo, if the 4h QQE crosses downwards and the bear flag breaks, bearish continuation will definitely continue and price will go below 166.
Attached Image
Trade what you see, not what you think.
  • #1,016
  • Oct 20, 2008 8:07am Oct 20, 2008 8:07am
Daily candle getting rejected for the 3rd time by the Monthly TL, hmm triple top anyone?
Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 20 KB
Trade what you see, not what you think.
  • #1,017
  • Oct 20, 2008 8:36am Oct 20, 2008 8:36am
Quoting karmostaji
Daily candle getting rejected for the 3rd time by the Monthly TL, hmm triple top anyone?
The 179.20ish level is a very strong PPZ.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #1,018
  • Oct 20, 2008 9:16am Oct 20, 2008 9:16am
Hello, Karmo.

I have seen 10 period momentum on your chart. Do you bother with 1 and 14 period momentum?

Thanks in advance.

Jay
  • #1,019
  • Oct 20, 2008 9:20am Oct 20, 2008 9:20am
Quoting Gandolf
Hello, Karmo.

I have seen 10 period momentum on your chart. Do you bother with 1 and 14 period momentum?

Thanks in advance.

Jay
no, just the 10.
Trade what you see, not what you think.
  • #1,020
  • Oct 20, 2008 11:09am Oct 20, 2008 11:09am
4h candle closed below 4h gann hilo, the TL is holding for now but I expect it to break. Patience.
Trade what you see, not what you think.
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