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Karmo's trading strategy trading GBP/JPY

  • #1,381
  • Nov 10, 2008 12:39am Nov 10, 2008 12:39am
Quoting karmostaji
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
thanks karmo.
  • #1,382
  • Nov 10, 2008 1:08am Nov 10, 2008 1:08am
The Daily QQE still suggests new low's to come and it will confirmed once it crosses downwards, price is still struggling to close above daily gann hilo.
Attached Image (click to enlarge)
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Trade what you see, not what you think.
  • #1,383
  • Nov 10, 2008 1:14am Nov 10, 2008 1:14am
For GU, I see a bear flag within a big triangle, expecting more bearishness to come for this pair
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Trade what you see, not what you think.
  • #1,384
  • Nov 10, 2008 1:52am Nov 10, 2008 1:52am
Based on the monthly chart, my target for GU is 1.4100 area
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Trade what you see, not what you think.
  • #1,385
  • Nov 10, 2008 6:02am Nov 10, 2008 6:02am
Price is having a hard time to close above 4h 50ema

If price can't get above 158/159 then down we go and it will be hard, a break below 150.50 and we will see 139 easily.
Trade what you see, not what you think.
  • #1,386
  • Nov 10, 2008 7:35am Nov 10, 2008 7:35am
Quoting karmostaji
Price is having a hard time to close above 4h 50ema

If price can't get above 158/159 then down we go and it will be hard, a break below 150.50 and we will see 139 easily.
i would really love to see a bull trap
I recommend you read something else as this sentence is now concluded.
  • #1,387
  • Nov 10, 2008 7:39am Nov 10, 2008 7:39am
Quoting Obaidah
i would really love to see a bull trap
A close below the black TL and down she'll go.. 154.40 might be in the way, if it breaks then tanking time.
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Trade what you see, not what you think.
  • #1,388
  • Nov 10, 2008 8:13am Nov 10, 2008 8:13am
critical levels

154.40
150.50

once these 2 levels break, 1 word.. Tank
Trade what you see, not what you think.
  • #1,389
  • Nov 10, 2008 8:27am Nov 10, 2008 8:27am
Quoting karmostaji
critical levels

154.40
150.50

once these 2 levels break, 1 word.. Tank

As always Karmo...

Tanks for your insights...
  • #1,390
  • Nov 10, 2008 8:52am Nov 10, 2008 8:52am
Quoting karmostaji
critical levels

154.40
150.50

once these 2 levels break, 1 word.. Tank
150.50 is sitting on the Weekly S1, the Daily S1 and the last fractal swing low. Nearly 500 pips away and it's a temptation to go after the pips inbetween .. but that is scalping with lower probablility.

Some traders in another forum I was in (they were sisters, very successful traders, grew up in a trading family) used to say .. wait for the 'perfect storm' setup then CTC it!
CTC = compound the crap (out of it)

Instead of going for the smaller pip gains along the way they would wait for the setup where all the stars aligned, then go in with guns blazing .. or in this case multiple lot orders and get the max from the move.

This would be breaking a 1% rule .... but do you use compounding, karmo, when you are very sure of the move?
  • #1,391
  • Nov 10, 2008 8:56am Nov 10, 2008 8:56am
Quoting karmostaji
The Daily QQE still suggests new low's to come and it will confirmed once it crosses downwards, price is still struggling to close above daily gann hilo.
hi karmo, just one question. if daily qqe is crossed bullish, why do you say new lows are coming? is it because the price cant close above gann? thx.
Market can stay irrational longer than you can stay solvent.
  • #1,392
  • Nov 10, 2008 8:56am Nov 10, 2008 8:56am
Quoting karmostaji
A close below the black TL and down she'll go.. 154.40 might be in the way, if it breaks then tanking time.
Hi Karmo,

Would you mind to post the indicator which draw the Daily and Weekly Support and Resistant?

If you have the MT4 version one.

Thanks
Mike
Failure, is a wonderful teacher!
  • #1,393
  • Nov 10, 2008 8:58am Nov 10, 2008 8:58am
Quoting FXBat
hi karmo, just one question. if daily qqe is crossed bullish, why do you say new lows are coming? is it because the price cant close above gann? thx.
Because price can't close above the daily gann.
Trade what you see, not what you think.
  • #1,394
  • Nov 10, 2008 8:59am Nov 10, 2008 8:59am
Quoting mike1349
Hi Karmo,

Would you mind to post the indicator which draw the Daily and Weekly Support and Resistant?

If you have the MT4 version one.

Thanks
Mike
sure
Attached File(s)
File Type: ex4 ###Auto Pivot.ex4   15 KB | 366 downloads
Trade what you see, not what you think.
  • #1,395
  • Nov 10, 2008 9:00am Nov 10, 2008 9:00am
Quoting mike1349
Hi Karmo,

Would you mind to post the indicator which draw the Daily and Weekly Support and Resistant?

If you have the MT4 version one.

Thanks
Mike
Here's one Mike
Attached File(s)
File Type: ex4 ###Auto Pivot.ex4   15 KB | 285 downloads
  • #1,396
  • Nov 10, 2008 9:01am Nov 10, 2008 9:01am
Ooops .. karmo faster than I thought

I forget he is called "the fastest gun in the West"
(western Dubai, that is)
  • #1,397
  • Nov 10, 2008 9:01am Nov 10, 2008 9:01am
Quoting TraderStar
150.50 is sitting on the Weekly S1, the Daily S1 and the last fractal swing low....
Yes I do, I add positions after the 1st one is in profit and keep them if I'm expecting a big move coming.
Trade what you see, not what you think.
  • #1,398
  • Nov 10, 2008 9:02am Nov 10, 2008 9:02am
Quoting karmostaji
critical levels

154.40
150.50

once these 2 levels break, 1 word.. Tank
price touched 154.40 and a little bounce, I expect it to break eventually
Trade what you see, not what you think.
  • #1,399
  • Nov 10, 2008 9:04am Nov 10, 2008 9:04am
GU broke the bear flag

once GJ breaks 154.40, look down below

once GJ breaks 150.50, hell will welcome you
Trade what you see, not what you think.
  • #1,400
  • Nov 10, 2008 9:05am Nov 10, 2008 9:05am
Quoting TraderStar
This would be breaking a 1% rule .... but do you use compounding, karmo, when you are very sure of the move?
Compounding Rule explained

Lets say you are trading with $100 and using 1% to trade you picked up another $100 over time and your balance became $200

Now applying the 1% rule you would be trading with $2,

So, as you profit your compounding amount @ 1% keeps increasing, and with every profit you need to earn less and less pips to reach the next compounding level.

This is called intelligent compounding which actually grows your account at the same time keeping the risk CONSTANT.
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