Zack,
I am glad that you understnad KM quite well. I had been taking long trades in gbp/jpy since 206 but that is infact entry based on Kolachi Price rather than pure KM. In KM we take trades in anticipation of slope change but when we are recommending anything on public forum we take care that many novice traders would read it too. Therefore, we post only info which may not confuse them.
Moreover, I warned that it was weekly chart so if a weekly candle retraces, it means that four or five days on daily chart may be bearish. What i see is that gbp/jpy is going to 220 level but before that time would come when we would see the previous lows retested.
We know in forex that candles never rise or fall in a straight path. We see net drift while having tops and bottoms one after other.
It is the reason why postion traders see their gains in one day almost vanished next day. Here, the scalpers have edge because they grab pips and get out to re enter again on lows or highs.
So dont forget to exit when opportunity comes to re enter on lows because the beast wont go straight to 220.
kolachi
Quote:
Originally Posted by god_synapse
It's funny that you should mention that Kolachi 
I have been LONG on GBP/JPY since 206.00 And I too am looking for the 220 area, possibly higher, but I am having trouble seeing it go higher than that. I don't predict though, I let it unravel before me among the moving averages. 
Hope all is well....and I like Kolachi am not recommending a trade, I am simply sharing my opinion....
Zack |