FXCorrelator - Scalping system

been selling gbp since early doors this morning ...no doubts

its still falling ....cable in from 2970s now down to 2930s so far

no complaints
N

2940s .....looking for a resell.....waiting

took a 47 down to around 40s but it didnt hold ......waiting again

resold at 45 .....ok so far

came out at 33 as wanted to bank a little ...may be wrong but the hell its been twitchy today

morning all ...

usual patterns this morning so far london ....yen and GBP being the alpha currencies in opposite directions

I have been working GBP north based on first few hours of clues (and my FXCorrelator)......and selling yen into pairs

massive 30+ pip bear correction on GBP last few minutes .....so market is a little neutral for me at present

nice rebounce on GBP trades back into london trend

real average today ....only yen bear has been fairly consistent .......done ok but cable is very rangy / flakey

scrappy london morning so far .....not much breaching of +/- 10 pips area from 6am..... so its hard to get a lot of pips running as yet ......ive mindlessly chased Cable as is my achilles heel and as you can see red GBP is rollercoastering as usual ....

taken 1 cable bull scalp in 2850s for a handful and a nice sell in 2850's as well for a decent scalp haul to 2830s.....dont ask....... its a risky strategy in truth with on the face of it no concept of market structure .......but i do have some pretty good trigger systems that sit off of my core fxcorrelator directional work so I'm probably a lot more ok than it seems .....

so far technically i would not have let any inexperienced scalpers trade at all as its too slow .......

when GBP goes it really goes..... so im more allowable of the reversal plays at moment given the volatility of that beast .....

in truth Yens bear action looks a safer play .....cant go too wrong playing Yen into Euro most of the time ...so this morning rebuying EJ in 120.60s has done ok so far .....

just remember that GBP and Yen rarely spend quality correlation time together .....they on opposite polls normally .....I use that a lot in some strategies .....

N

2837/8 watching for resell opp

heres the G8 Forex week so far ......ive used a 50ma FXCorrelator to smooth things a little.....alongside my upper fixed chart from monday opens........

10/10 for those buying CAD and NZD into GBP and the more solid bear CHF.......GBP offered best swing of the week from bull to bear from mondays highs ......no surprises for its volatility

N

hey all

slow morning so far from 6am london ..........nothing much really moving .....solid sell signals on yen and USD so im playing CABLE buys .....above 2870s......hardly a pip fest though so far to 2882

euro looking stronger now so on EU and EJ as well looking for opps

N

usd is my problem in coming back in hard on cable at 2884.....i need to see USd drop more

got in at 88 ......i needed usd to start falling ......91 now so lets see

slow drag to 95 so far so locked in first TP...ZZZZZZZ

cable back to 2870s messy today

continued sloooow bull play on swissie .....tedious ?

Good Moaning!

Purely as a matter of interest, I've been watching Cable on the correlator this morning and I was thinking that on the basis of the apparent continuing weakness after the 09h00 numbers and that the $ seems to be turning up (on the 5min) that it might be worth a sell. I've got no intention of doing anything myself as it's a non-trading day for me but I was just curious as to how you're approaching it today.

hey C

sure i see red GBP as still weakish on 5 mins ....but im also looking at my fixed chart from 6am opens (top chart on piccie) and im not convinced .....also with green usd also sitting in lower half of that 20ma 5min chart if i were going to trade GBP at all i would look for a currency in top half of the chart as a buy ....grey CHF has been consistently strong this morning

personally im out of market at moment .....GBP has oscillated so far and i need to see some firm solid trending

slow day so far
N

see what i mean C ? ....cable strenghening again ....ZZZZZZZZZZ

interesting afternoon....Cad sold off aggressively and has continued to fall .....3150s bounce was a real nice place to play it and i was a little late in....but still a few pips ....