As I´m not certain of the next main move in GBPJPY - and yes, I do look at monthly, daily and 4 hour charts before I start each day´s trading - I am currently looking just for short term scalps.
To help me with GBPJPY I also have up Cable and the Euro and USDJPY, all on the same page and with the same template and normally 5 min time frame.
As soon as I see a set-up approaching I drop to the 1 min for an entry.
Here, the strength in the Euro from 7:25edt onwards - see its position relative to its 34 EMA (Turquoise) and its 200 EMA (Green) compared with Cable´s position - caused me to consider that Cable might put in a stronger rally which would impact on GBPJPY.
However, the way USDJPY made a lower high with a lower stochastic helped me to sell the lower high in GBPJPY for an initial target of 249.00....this action is seen better on the 1 min TF.....Entry 249.34 for 34 pips before the spread.....my fourth successful scalp since the Frankfurt Open.
To help me with GBPJPY I also have up Cable and the Euro and USDJPY, all on the same page and with the same template and normally 5 min time frame.
As soon as I see a set-up approaching I drop to the 1 min for an entry.
Here, the strength in the Euro from 7:25edt onwards - see its position relative to its 34 EMA (Turquoise) and its 200 EMA (Green) compared with Cable´s position - caused me to consider that Cable might put in a stronger rally which would impact on GBPJPY.
However, the way USDJPY made a lower high with a lower stochastic helped me to sell the lower high in GBPJPY for an initial target of 249.00....this action is seen better on the 1 min TF.....Entry 249.34 for 34 pips before the spread.....my fourth successful scalp since the Frankfurt Open.
Attached Image (click to enlarge)
Trading Levels with WRBs
kicked out like 10 times, however, my trouble was only between 5-10 pm, later It worked ok (NY time). BTW, I have not taken the risk of entering a trade in this pair, I'm resistant to the idea of short je je.
