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Simple Scalping

Quoting Dlee207
Jenx, thank you for commenting on this. I see your entry would be after the big rise and for a buy. also when you say mixed signal, do you mean when price is hanging close or inside the MA
In the period of consolidation, there were multiple opposite signals, which in itself signifies indecision.
Time to stay out until price makes its move. It did, and as we know, you don't try to catch a falling knife, so best to wait and see what happens at the re-test, if it indeed does re-test.
If the trend is still mixed (ie no signal) ,stay out. However, as in this case , if it gives you a signal in the direction of the breakout its a banker.
Where price is now, it has been before, and will be again.
Quoting Jenx
{quote} Price had clearly broken to the upside after a considerable period of consolidation. Anything around the previous resistance ( red line)which should now lend support if it was in fact valid, would be interesting. in this case it showed , not only bullish price action from that level, it was also the level coincided with our Mas which were in a bullish move. No brainer really.
Thanks. It is clear now.
Thanks for sharing Jenx. This is interesting strategy. I trade similar strategy for a while now. Who said that indicators do not work!

subscribed!
Hi Jenx!

Just wanted to thank you for sharing this awesome stratagy man! Worked with it for a couple of days now on the 5 minute chart (like that one more) and the results are very promising, like your way of thnking that a couple of pips a day is enough, and it is!
The basics are very simple, and i believe even someone with almost no experience could succeed by following the ''rules''.

Thanks and hopefully i can share some good results the oncoming months!
Hi Jenx,

I;m in the midst of reading the whole thread (at page 32 now, a few more to go)

I saw that u;re using IC market ,
i;m using Oanda ,
Using this method , does it matter if one use IC or Oanda ?

I think i read in your old post that u used Oanda before ,
why the need the to switch ? if u dun mind sharing .

thank you very much .
I have finally read through all ....

regarding S/R ,

1. when price near S/R , try to avoid trade.
2. When price above S , ???
3. When price below R , ???
4. When price far from S/R , the rule of BB/MA apply .


Please help me to confirm if i understand correctly ? Thank you
Quoting paogeh
Hi Jenx, I;m in the midst of reading the whole thread (at page 32 now, a few more to go) I saw that u;re using IC market , i;m using Oanda , Using this method , does it matter if one use IC or Oanda ? I think i read in your old post that u used Oanda before , why the need the to switch ? if u dun mind sharing . thank you very much .
For me, it was just the lower spreads on more pairs. On EU an UJ for example I don't suppose it makes a great deal of difference
Where price is now, it has been before, and will be again.
Quoting paogeh
I have finally read through all .... regarding S/R , 1. when price near S/R , try to avoid trade. 2. When price above S , ??? 3. When price below R , ??? 4. When price far from S/R , the rule of BB/MA apply . Please help me to confirm if i understand correctly ? Thank you
Hi
I just use the s and R as a guide. If we're right on those areas probably best to stay out but if theres room for your target no reason not to trade into them
Where price is now, it has been before, and will be again.
Thank you Jenx , truly appreciate !
Hello Jenks.....I have set the S/R levels on the 15m chart as per the attachment...these levels are on the 123 pattern...
They cover just about all the trading area....am I missing something....
Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: AUDCADM15.png Size: 107 KB
Quoting TC48
Hello Jenks.....I have set the S/R levels on the 15m chart as per the attachment...these levels are on the 123 pattern... They cover just about all the trading area....am I missing something.... Thanks {image}
Ahaa...the levels have been refilled yes...
Quoting TC48
{quote} Ahaa...the levels have been refilled yes...
I only really bother about the immediate levels above and below. If one gets broken, the next comes into play
Where price is now, it has been before, and will be again.
I think I understand this system now. The thing is to look for break outs out of consolidation and jump in on the pullback.

the only issue is NY session has been shitty, but I see that London’s been a golden goose.

Tjme to change my sleep schedule
  • Post #754
  • Quote
  • Edited at 9:37am May 4, 2018 2:27am | Edited at 9:37am
Been using this system with UJ and EU for several weeks now.

Using original rules from Jenx’s first post.

Only tough part is knowing when to kill the trade. I can see how some might want to let this go the other way too long, as it often comes back into profit. Just not worth it imho — best to just kill the trade
A snails pace wins the race :-)
Hello everyone...
I´m loving and trying this system.
Where would you put the support and resistance in the 15min charts for USDJPY and EURUSD for the next days?
Quoting werther
Hello everyone... I´m loving and trying this system. Where would you put the support and resistance in the 15min charts for USDJPY and EURUSD for the next days?
for the next days?! have you read the thread, at least the first 10 pages?
every day is new and you need to sort out the S&R. even after a few hours the picture can change and you have to draw new lines...
I know that you and I know nothing.
I think I will start using this strat for when I already have my entries on higher TFs... Looks quite simple!
Hi Jenx

This is a very nice strategy. Especially in trending situations. I have been putting together different strategies and systems for years but this one is simple but really effective. One has to have a system that suits ones own trading style and I am very much a trader like you who likes to be in and out of a trade in minutes rather then hours or days!

I have combined your ema's and BB with my own template which I believe might help with more effective entry/exit (in my own trading anyway). One can exit using break through of ema line or a BRN line

Anyway here's what my template looks like

Happy trading to all
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDM5.png Size: 50 KB
Never say die
Quoting Jenx
{quote} I only really bother about the immediate levels above and below. If one gets broken, the next comes into play

thanks jenx for good idea . is it possible to make this indicator multi time frame ? i think if an arrow on h1 and m15 came together , its the bomb .
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYM15.png Size: 61 KB


Support in 15 min USDJPY...looking for longs.
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