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Karmo's trading strategy trading GBP/JPY

  • #1,341
  • Nov 5, 2008 9:08am Nov 5, 2008 9:08am
Quoting jarroo
Took the short off the touch of the 5 sma on the hourly QQE down.
(Dark Orange line is the 50 ema on the 4 hour)
I forgot about agreeing with the 4 hour levels. duhhh
Indicators show the past. Price Action "Indicates" the future.
  • #1,342
  • Nov 5, 2008 10:47am Nov 5, 2008 10:47am
Quoting karmostaji
1h bull flag broken to the upside..

Target is 161 which is the upper TL of the 4h bull-flag, if that breaks then target is the broken monthly TL around 175

Trade your chart and with confirmation.
Price went up towards the upper TL 160.80 and bounced

we might be going back down to the lower TL..
Trade what you see, not what you think.
  • #1,343
  • Nov 5, 2008 10:52am Nov 5, 2008 10:52am
On VT, the daily candle has not been able to close above the daily gann but the QQE has crossed up a long time ago, this is a strong indication of bearish continuation.
Attached Image
Trade what you see, not what you think.
  • #1,344
  • Nov 5, 2008 11:12am Nov 5, 2008 11:12am
Quoting karmostaji
On VT, the daily candle has not been able to close above the daily gann but the QQE has crossed up a long time ago, this is a strong indication of bearish continuation.
Meta trader Gann HiLo set to value 12 or 13 seems to agree with VT.
Attached Images
Indicators show the past. Price Action "Indicates" the future.
  • #1,345
  • Nov 5, 2008 12:38pm Nov 5, 2008 12:38pm
Meta trader Gann HiLo set to value 10 does not agree with VT. Shows the daily having crossed yesterday.
  • #1,346
  • Nov 5, 2008 12:42pm Nov 5, 2008 12:42pm
QQE on 1hr just crossed back below the 50 line. Is this a valid 1hr/4hr strategy sell signal ?
  • #1,347
  • Nov 5, 2008 12:47pm Nov 5, 2008 12:47pm
Quoting Foster
Meta trader Gann HiLo set to value 10 does not agree with VT. Shows the daily having crossed yesterday.
yes it is fact that there're some cases when VT HiLo crosses before MT4, however, the founder of this strategy built it on VT not on MT4.
I recommend you read something else as this sentence is now concluded.
  • #1,348
  • Nov 5, 2008 2:54pm Nov 5, 2008 2:54pm
Karmo,

When you are scalping do you use the Auslanco 1Hr/4Hr but on a smaller timeframe, like 5 min? Or a version of your own system?

I like the Auslanco system but would like to learn a good scalping method.

Thanks,
  • #1,349
  • Nov 5, 2008 8:36pm Nov 5, 2008 8:36pm
Quoting MykeFX
Karmo,

When you are scalping do you use the Auslanco 1Hr/4Hr but on a smaller timeframe, like 5 min? Or a version of your own system?

I like the Auslanco system but would like to learn a good scalping method.

Thanks,
Hey Myke,

I'm not a good scalper lol, but I try.. I use auslanco's method on smaller TF like the 5m/15m and try to grab anything from 10-50 pips n get out quick

I need to learn a better scalping method though..
Trade what you see, not what you think.
  • #1,350
  • Nov 5, 2008 8:47pm Nov 5, 2008 8:47pm
Simple
Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 17 KB
Trade what you see, not what you think.
  • #1,351
  • Nov 5, 2008 8:59pm Nov 5, 2008 8:59pm
hi karmo
do you use the bounce on trendlines ?? when i look at your charts it looks so easy to just enter a buy at the lower line and a sell at the upper one .
thanks
  • #1,352
  • Nov 5, 2008 9:00pm Nov 5, 2008 9:00pm
Quoting imad
hi karmo
do you use the bounce on trendlines ?? when i look at your charts it looks so easy to just enter a buy at the lower line and a sell at the upper one .
thanks
It is easy, price could retest the lower TL again and even the lower TL you see around 152.xx
Trade what you see, not what you think.
  • #1,353
  • Nov 5, 2008 10:31pm Nov 5, 2008 10:31pm
I'm long from 154.50 again, SL 154, TP is open

This is again based on the chart I posted earlier.
Trade what you see, not what you think.
  • #1,354
  • Nov 5, 2008 11:13pm Nov 5, 2008 11:13pm
hi karmo ( hope u dont do sharjah dubai during the day )
so this long trade is based on the bouce of the pair on the lower trend line ? right ? because the gann on qqe on 4 h chart is bearish ,
thanks
  • #1,355
  • Nov 5, 2008 11:17pm Nov 5, 2008 11:17pm
Quoting imad
hi karmo ( hope u dont do sharjah dubai during the day )
so this long trade is based on the bouce of the pair on the lower trend line ? right ? because the gann on qqe on 4 h chart is bearish ,
thanks
LOL nah

I'm relying more on my own TL's I've drawn than the 4h gann because that thing has been all over the place for the past 2 days coz of the ranging. so yah I'm long based on the bounce off the lower TL and 154.4 support
Trade what you see, not what you think.
  • #1,356
  • Nov 5, 2008 11:23pm Nov 5, 2008 11:23pm
karmo
since i am so lousy in drawing these lines . i am using an indicator ? could you pleae tell me if it s right these lines and if this indicator i can rely on it ?
thanks
  • #1,357
  • Nov 5, 2008 11:24pm Nov 5, 2008 11:24pm
this is the chart
Attached Image (click to enlarge)
Click to Enlarge Name: trendlines.gif Size: 14 KB
  • #1,358
  • Nov 5, 2008 11:27pm Nov 5, 2008 11:27pm
Quoting imad
karmo
since i am so lousy in drawing these lines . i am using an indicator ? could you pleae tell me if it s right these lines and if this indicator i can rely on it ?
thanks
I wouldn't rely on any indicator drawing trendlines, you need to do it yourself, you need practice.

When I first started drawing, I have no clue at all, I just kept trying.. never give up

Look at the charts I post and see how I draw them, you'll learn by practice.
Trade what you see, not what you think.
  • #1,359
  • Nov 5, 2008 11:32pm Nov 5, 2008 11:32pm
karmo
i will try nd i have been trying , but i find it so subjective these lines , i look at your chart and sometimes you consider the wicks sometime you dont . but i will keep trying and i hope can do it as good as u do one day .
by the way . is there any clue when we do expect these lines to be broken and we we expect the price to bounce on it .?
thanks
  • #1,360
  • Nov 5, 2008 11:34pm Nov 5, 2008 11:34pm
Quoting imad
karmo
i will try nd i have been trying , but i find it so subjective these lines , i look at your chart and sometimes you consider the wicks sometime you dont . but i will keep trying and i hope can do it as good as u do one day .
by the way . is there any clue when we do expect these lines to be broken and we we expect the price to bounce on it .?
thanks
Price action
Trade what you see, not what you think.
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