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Karmo's trading strategy trading GBP/JPY

  • #1,681
  • Jan 22, 2009 9:56am Jan 22, 2009 9:56am
Quoting newkidfx
Hi Karmo how is your fibo level have price? how you indicate the price level together with fibo line?

thanks.
Open your Fibo properties, Fibo Levels & add the %$ to your levels
Attached Image
I trade what I see on my charts. Do Not listen to the Muppets.
  • #1,682
  • Jan 22, 2009 10:38pm Jan 22, 2009 10:38pm
Quoting Vanhook2
Open your Fibo properties, Fibo Levels & add the %$ to your levels
thousands pips thanks vanhook
  • #1,683
  • Jan 27, 2009 10:01am Jan 27, 2009 10:01am
Hey Karmo,

did you get out in the snow?
  • #1,684
  • Jan 28, 2009 8:06am Jan 28, 2009 8:06am
Hey Karmo, Do you think gbp/jpy is headed for the daily 50 ema? I kind of have that im my sites.
by Thich Nhat Hanh "Smile, breathe and go slowly."
  • #1,685
  • Jan 28, 2009 8:40am Jan 28, 2009 8:40am
Quoting MykeFX
Hey Karmo,

did you get out in the snow?
Hey Myke,

Didn't get snow in Dubai, but we got in another Emirate called Ras Al-Khaimah
Trade what you see, not what you think.
  • #1,686
  • Jan 28, 2009 8:41am Jan 28, 2009 8:41am
Quoting Farmboy
Hey Karmo, Do you think gbp/jpy is headed for the daily 50 ema? I kind of have that im my sites.
Price needs to close above 129 (daily gann) on the daily for me to target daily 50ema, otherwise if 4h QQE crosses downwards then GJ is headed back down to the low's.
Trade what you see, not what you think.
  • #1,687
  • Jan 28, 2009 10:37am Jan 28, 2009 10:37am
Hi Karmo.. just asking are you related to Sultan Karmostaji or you The Royal Highness itself ?
  • #1,688
  • Jan 29, 2009 6:09am Jan 29, 2009 6:09am
Quoting newkidfx
Hi Karmo.. just asking are you related to Sultan Karmostaji or you The Royal Highness itself ?
Yep we're related.
Trade what you see, not what you think.
  • #1,689
  • Jan 29, 2009 8:06am Jan 29, 2009 8:06am
i will start studying your method tonight
  • #1,690
  • Jan 29, 2009 11:51am Jan 29, 2009 11:51am
Quoting karmostaji
Yep we're related.
I knew he had royal blood

PS I've been busy helping daughter buy a home in Houston so not trading or posting too much but still following this thread.
  • #1,691
  • Jan 29, 2009 11:53am Jan 29, 2009 11:53am
Quoting karmostaji
Price needs to close above 129 (daily gann) on the daily for me to target daily 50ema, otherwise if 4h QQE crosses downwards then GJ is headed back down to the low's.

I like that .... lows .... has a nice flavour to it.

seems 127 / 126.50 is key
Blogging daily now at www.volume.zone
  • #1,692
  • Jan 29, 2009 7:25pm Jan 29, 2009 7:25pm
Quoting TraderStar
I knew he had royal blood

PS I've been busy helping daughter buy a home in Houston so not trading or posting too much but still following this thread.

Yes TradeStar you better follow this thread since I know Karmo and Auslanco thread I've learnt a lot of thing. People here very helpful and friendly too.
  • #1,693
  • Jan 29, 2009 7:31pm Jan 29, 2009 7:31pm
Quoting karmostaji
Yep we're related.
Nice too know that.. no wonder you're brilliant like him
  • #1,694
  • Jan 29, 2009 7:37pm Jan 29, 2009 7:37pm
Quoting malcolmb14
I like that .... lows .... has a nice flavour to it.

seems 127 / 126.50 is key
Malcolmb do you think GY will hit low today or next week? Any advise ?
  • #1,695
  • Jan 29, 2009 7:47pm Jan 29, 2009 7:47pm
If break 50ema at 4hr chart maybe next target will be at 61.8 fibs ( 125.03 ).. any comment? koz I'm still learning and everyday is new lesson to me..
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  • #1,696
  • Jan 30, 2009 2:35pm Jan 30, 2009 2:35pm
Quoting newkidfx
If break 50ema at 4hr chart maybe next target will be at 61.8 fibs ( 125.03 ).. any comment? koz I'm still learning and everyday is new lesson to me..
note sure if there is a way to off set the qqe signal line so that it gives trades earlier or zoom down into a lower time frame , but i think you need ot have qqe signal line cross under qqe ( much like I use a sma on my rsx indicator)

one comment on the fib retarcements .. make sure you plot them to exact tops and bottoms otherwise you will be out. The one you drew is slightly off
Blogging daily now at www.volume.zone
  • #1,697
  • Jan 31, 2009 11:47pm Jan 31, 2009 11:47pm
Quoting malcolmb14
note sure if there is a way to off set the qqe signal line so that it gives trades earlier or zoom down into a lower time frame , but i think you need ot have qqe signal line cross under qqe ( much like I use a sma on my rsx indicator)

one comment on the fib retarcements .. make sure you plot them to exact tops and bottoms otherwise you will be out. The one you drew is slightly off
Thanks Malcolmb really appreciated it!
  • #1,698
  • Feb 1, 2009 1:22am Feb 1, 2009 1:22am
Quoting newkidfx
If break 50ema at 4hr chart maybe next target will be at 61.8 fibs ( 125.03 ).. any comment? koz I'm still learning and everyday is new lesson to me..
Hi newkidfx. The retrace fibs should have been drawn from bottom to top, instead of top to bottom. A good rule of thumb to remember while you're learning, is to always draw them from left to right. Then you don't have to figure out each time whether you should start from the bottom or top. You just follow the rule and it will turn out right. Eventually the top / bottom will start making more sense and you won't have any problem with it.

If price had broken below the 50ema and the lower trend line, I would have opened a short trade for a 50% retrace to the 124 area. The 61.8% fib around 123 would have also been a possibility. Now that it's broken the upper trend line instead, and price is back above the Gann, I will be looking for a continuation north. But there's a good chance we'll have an Asian retrace first, maybe to about 128. The 4H 200ema around 132 is an area of resistance above, and it looks like a good target for Monday's London or NY sessions if the tide doesn't change in the meantime. I wouldn't be surprised to see 134 - 136 sometime this week. But I'll be taking it one day at a time since the larger trend is still bearish, and things could change quickly.

Keep up the good work!

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  • #1,699
  • Feb 1, 2009 5:16am Feb 1, 2009 5:16am
Quoting Pips_Cruiser
Hi newkidfx. The retrace fibs should have been drawn from bottom to top, instead of top to bottom. A good rule of thumb to remember while you're learning, is to always draw them from left to right. Then you don't have to figure out each time whether you should start from the bottom or top. You just follow the rule and it will turn out right. Eventually the top / bottom will start making more sense and you won't have any problem with it.

If price had broken below the 50ema and the lower trend line, I would have opened a short trade for a...

Hi Pips Cruiser thanks for your comment and advise it's really hepls a lot. I try to master the fibonnaci style hoppefully still learning and keep learning from you guys.. cheers!
  • #1,700
  • Feb 2, 2009 5:18pm Feb 2, 2009 5:18pm
hi karmo,

i think, right now, chart pattern on cable looks little more clearer than geppy.
i see possible shampoo forming on cable. if the neckline breaks then it sure will take geppy at least to the 120 area. IMHO.

hi cruiser. good to see you.
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