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Karmo's trading strategy trading GBP/JPY

  • #1,761
  • Feb 12, 2009 4:02am Feb 12, 2009 4:02am
Quoting karmostaji
I'll give you an example, it might help you understand how I pick my entries.

Let's say 4h just turned bearish and we got below 4h gann with QQE crossing down. I'll wait for 15m QQE to cross up (usually during asia session) and wait for 15m to turn back bearish, that's when I'll make my entry.

good lesson as always
  • #1,762
  • Feb 16, 2009 2:09am Feb 16, 2009 2:09am
Looking at a naked daily chart, I see this..
Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 13 KB
Trade what you see, not what you think.
  • #1,763
  • Feb 16, 2009 2:13am Feb 16, 2009 2:13am
Price is below Daily, 4H, and 1H 50ema and is currently trading below 4H gann hilo.

Price could also close below Daily gann hilo today/tomorrow, we'll have to wait and see.
Trade what you see, not what you think.
  • #1,764
  • Feb 16, 2009 2:15am Feb 16, 2009 2:15am
Quoting karmostaji
Looking at a naked daily chart, I see this..
Bullish broadening wedge
  • #1,765
  • Feb 16, 2009 2:18am Feb 16, 2009 2:18am
Quoting belekas
Bullish broadening wedge
Good to know, thanks bro
Trade what you see, not what you think.
  • #1,766
  • Feb 16, 2009 2:20am Feb 16, 2009 2:20am
Quoting karmostaji
Good to know, thanks bro
No problemo and can i get a few bottles of patience pills to relax untill the solid setup pops up?
  • #1,767
  • Feb 16, 2009 2:48am Feb 16, 2009 2:48am
Quoting karmostaji
lol I wish, but I just got home from the hospital, GJ tanked nicely but so did my body on me and my fever skyrocketed to 39..
Glad your feeling better brother. Stay well.
Indicators show the past. Price Action "Indicates" the future.
  • #1,768
  • Feb 16, 2009 5:11am Feb 16, 2009 5:11am
karmo,
have been wanting to ask: is that a peregrine falcon in your avatar? & is it really yours?


anyway, nice thread!

ultra-belated happy b-day to you.. (3months late; just started posting today --- finally!)
What caused the fever? glad you are well & back to the action, peeking at the beast with "falcon eyes"..
  • #1,769
  • Feb 16, 2009 6:11am Feb 16, 2009 6:11am
Quoting supremeChaos
karmo,
have been wanting to ask: is that a peregrine falcon in your avatar? & is it really yours?


anyway, nice thread!

ultra-belated happy b-day to you.. (3months late; just started posting today --- finally!)
What caused the fever? glad you are well & back to the action, peeking at the beast with "falcon eyes"..
Hey supremeChaos,

I don't know what kind of falcon is it lol, and no it's not mine.

Thanks for the bday wish, and the Doc's have told me I've got a throat n chest infection, it's getting better slowly.
Trade what you see, not what you think.
  • #1,770
  • Feb 16, 2009 6:42am Feb 16, 2009 6:42am
off topic..

most probably it's a peregrine... nice

your throat & chest infection, most probably are related to your latest trip or even the previous London trip. try to avoid taking medications, recuperate via fruits & veggies if possible.
  • #1,771
  • Feb 16, 2009 7:05am Feb 16, 2009 7:05am
Hi Karmo,
This is my first post at FF.

Take a look at this chart. It has a gann 240/10 (TF/Period) and 1440/10 imposed on the chart with the extremes prices outside of the bolinger bands. The bars are colored based on multiple time frame qqe 240/5-240/10.

I am not sure if this would help establish a higher probability entry.

Of particular interest are the white and yellow bar combinations. They suggest reversal and/or consolidation.
Reds and Blues hues are obvious.

The second chart is esentially the 4H chart with the period changed to 1H. Gann does not change. All other indicators change with the change on chart period.

Your input in the above pursuit would be invaluable.v

I do not want to clutter this thread with indicators unless warranted.

Thanks

Pat

PS Belated b'day good wishes to you.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gj02154h.gif Size: 38 KB
Click to Enlarge Name: gj02151h.gif Size: 35 KB
  • #1,772
  • Feb 16, 2009 10:03am Feb 16, 2009 10:03am
Pat,
i'm trying to learn MQL programming. can u direct me to where all those indicators are found (except the QQE's)? & what are the names of those indi's? Thanks...

by the way, nice observation about Gann.

Quote
The second chart is esentially the 4H chart with the period changed to 1H. Gann does not change. All other indicators change with the change on chart period.
  • #1,773
  • Feb 18, 2009 2:18am Feb 18, 2009 2:18am
Quoting supremeChaos
Pat,
i'm trying to learn MQL programming. can u direct me to where all those indicators are found (except the QQE's)? & what are the names of those indi's? Thanks...

by the way, nice observation about Gann.

codebase.mql4.com

the official mql4 resource.
  • #1,774
  • Feb 18, 2009 2:36pm Feb 18, 2009 2:36pm
forexlion,
thanks, i'm aware of the mql4 website.

what i was after were the indicators in Pat1's charts. they seem a little unusual. I'd like to check them out & see if i can learn something new from those indicators (syntax, etc.)
  • #1,775
  • Feb 23, 2009 12:27am Feb 23, 2009 12:27am
Last week we got a 4h QQE cross down and a candle close below 4h gann but the candle right after it closed right back above 4h gann again, price is also still above 4h 50ema, so the signs are bullish and indicate bullish continuation.

As long as price remains above 4h gann, 4h 50ema, and Daily 50ema, then I'll target 137 first and if broken then 141 area.

I'll think of shorts only if we get below 4h 50ema, Daily 50ema, and Daily gann hilo.
Attached Image
Trade what you see, not what you think.
  • #1,776
  • Feb 23, 2009 12:40am Feb 23, 2009 12:40am
Another chart I want to share, I see a triangle on 4h/Daily chart.
Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 31 KB
Trade what you see, not what you think.
  • #1,777
  • Feb 23, 2009 4:32am Feb 23, 2009 4:32am
Quoting karmostaji
Last week we got a 4h QQE cross down and a candle close below 4h gann but the candle right after it closed right back above 4h gann again, price is also still above 4h 50ema, so the signs are bullish and indicate bullish continuation.

As long as price remains above 4h gann, 4h 50ema, and Daily 50ema, then I'll target 137 first and if broken then 141 area.

I'll think of shorts only if we get below 4h 50ema, Daily 50ema, and Daily gann hilo.
As expected, 137 has been hit and 4h QQE is crossed upwards but need to wait another 2h30m just to confirm it.

141 could be the next target if price remains above 137.
Trade what you see, not what you think.
  • #1,778
  • Feb 23, 2009 5:53am Feb 23, 2009 5:53am
Quoting karmostaji
As expected, 137 has been hit and 4h QQE is crossed upwards but need to wait another 2h30m just to confirm it.

141 could be the next target if price remains above 137.

maybe we get 141 befor NY session


I am puzzled
  • #1,779
  • Feb 23, 2009 8:22am Feb 23, 2009 8:22am
15m QQE has crossed down earlier but price has been ranging between 138 and 139, this is a good indication of bullish continuation as long as price remains above 1h gann hilo.
Attached Image
Trade what you see, not what you think.
  • #1,780
  • Feb 23, 2009 8:46am Feb 23, 2009 8:46am
Quoting karmostaji
As expected, 137 has been hit and 4h QQE is crossed upwards but need to wait another 2h30m just to confirm it.

141 could be the next target if price remains above 137.
What is you stop loss strategy. if you have a chance to explain.
Thanks.
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