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Karmo's trading strategy trading GBP/JPY

  • #1,361
  • Nov 6, 2008 3:01am Nov 6, 2008 3:01am
1h QQE crossed up and a 1h candle closed above gann, another bullish sign

Price might retrace to 1h 5sma
Trade what you see, not what you think.
  • #1,362
  • Nov 6, 2008 3:07am Nov 6, 2008 3:07am
KARMO
nice trade we are up more than 200 pips . thanks
by the way when you take trades like this using the trend lines like the last one , do you check smaller timeframe ?
regards
  • #1,363
  • Nov 6, 2008 3:12am Nov 6, 2008 3:12am
Quoting imad
KARMO
nice trade we are up more than 200 pips . thanks
by the way when you take trades like this using the trend lines like the last one , do you check smaller timeframe ?
regards
Yep, it's been lovely

The lowest I check is the 15m
Trade what you see, not what you think.
  • #1,364
  • Nov 6, 2008 5:10am Nov 6, 2008 5:10am
Quoting karmostaji
Yep, it's been lovely

The lowest I check is the 15m
how can you trade in market like this?
I recommend you read something else as this sentence is now concluded.
  • #1,365
  • Nov 6, 2008 5:16am Nov 6, 2008 5:16am
Quoting Obaidah
how can you trade in market like this?
By looking at my charts? Take partial profits and set SL in profit and relax
Trade what you see, not what you think.
  • #1,366
  • Nov 6, 2008 5:20am Nov 6, 2008 5:20am
Quoting karmostaji
By looking at my charts? Take partial profits and set SL in profit and relax
but in the past 3 days it hasnt respected a damn level expect the one you mentioned few ago
I recommend you read something else as this sentence is now concluded.
  • #1,367
  • Nov 6, 2008 5:39am Nov 6, 2008 5:39am
Quoting Obaidah
but in the past 3 days it hasnt respected a damn level expect the one you mentioned few ago
It's been bouncing up and down in the 4h bull-flag
Trade what you see, not what you think.
  • #1,368
  • Nov 6, 2008 7:00am Nov 6, 2008 7:00am
BOE cut rates by 1.5%, a historic rate cut

This should weaken the pound further
Trade what you see, not what you think.
  • #1,369
  • Nov 6, 2008 11:06am Nov 6, 2008 11:06am
This is what I'm looking at..
Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 35 KB
Trade what you see, not what you think.
  • #1,370
  • Nov 6, 2008 11:24am Nov 6, 2008 11:24am
I'm thinking we are going to break through support.

Time will tell.

B
  • #1,371
  • Nov 7, 2008 5:46am Nov 7, 2008 5:46am
If price can't get above 154.40 then back down to 150.50 and if that support breaks then it will tank to 139

Keep it simple, price action is king.
Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 17 KB
Trade what you see, not what you think.
  • #1,372
  • Nov 7, 2008 5:47am Nov 7, 2008 5:47am
Quoting bigcoupe
I'm thinking we are going to break through support.

Time will tell.

B
It did and I was short from 154.40 to 150.50 and then back long from there to 154 and now short again.

It's been fun
Trade what you see, not what you think.
  • #1,373
  • Nov 8, 2008 8:00am Nov 8, 2008 8:00am
Hi Karmo,

How do you know it will tank to 139 if it breaks 150.50?
  • #1,374
  • Nov 8, 2008 8:48am Nov 8, 2008 8:48am
Quoting echnat0n
Hi Karmo,

How do you know it will tank to 139 if it breaks 150.50?
i think this is what karmo is looking @.
Attached Image (click to enlarge)
Click to Enlarge Name: 2.gif Size: 17 KB
  • #1,375
  • Nov 8, 2008 11:03am Nov 8, 2008 11:03am
I'm waiting for that move down to around 140 to go long, 2:1 lev and no s/l targeting 190 long term.
yyssw
  • #1,376
  • Nov 9, 2008 8:54am Nov 9, 2008 8:54am
Quoting pkimnyc
i think this is what karmo is looking @.
exactly
Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 17 KB
Trade what you see, not what you think.
  • #1,377
  • Nov 9, 2008 11:53pm Nov 9, 2008 11:53pm
Price is still within the 4h bull flag and price just retested the broken TL I posted last week
Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 31 KB
Trade what you see, not what you think.
  • #1,378
  • Nov 10, 2008 12:26am Nov 10, 2008 12:26am
A close below 1h gann, 50ema, black TL, and 154.50 and shorts will be back and target would be the 4h gann and then the LT of the 4h bull flag around 150

with the gap up we had today, the 4h QQE have crossed up and a candle has formed above 4h gann, this is not truly bullish since it was caused by the gap up, we will have to see.
Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 25 KB
Trade what you see, not what you think.
  • #1,379
  • Nov 10, 2008 12:32am Nov 10, 2008 12:32am
Quoting karmostaji
A close below 1h gann, 50ema, black TL, and 154.50 and shorts will be back and target would be the 4h gann and then the LT of the 4h bull flag around 150

with the gap up we had today, the 4h QQE have crossed up and a candle has formed above 4h gann, this is not truly bullish since it was caused by the gap up, we will have to see.
ah ha! this is where i was confused about.
thanks for making it clear.
  • #1,380
  • Nov 10, 2008 12:37am Nov 10, 2008 12:37am
Quoting pkimnyc
ah ha! this is where i was confused about.
thanks for making it clear.
I wouldn't consider it bullish until we break the 4h bull flag, I saw the chart you posted earlier in the other thread, it's perfect
Trade what you see, not what you think.
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