24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait
- #1,025
- Oct 8, 2007 2:22pm Oct 8, 2007 2:22pm
- | Joined Nov 2006 | Status: Trader | 1,143 Posts
24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
- #1,026
- Oct 8, 2007 2:42pm Oct 8, 2007 2:42pm
thx. i am happy to help all as it keeps me sharp as well.
i guess it could be related to EW patterns, however, that is the only 'wave' pattern i really look for and i look for it in these TFs up to the 1 HR. i dont get caught up with the whole counting thing... i find that to be very subjective and easy to come out w/different coutns; not that i am an EW expert by any means, actually i am not that familiar at all w/ real EW. I just like to keep it simple - ABCD. look to get in early from a to b when possible; mostly trade C to D. and stayin away from beyond D unless i have significant profit form the prior legs OR i see a strong divergence in the beyond D area, i might try for a reversal setup, but ONLY if i have good profit (and will try that with reduced lots). I posted a chart soime time ago here where i looked for MACD div. that resulted in a Reversal upwards after an ABCD down move... i think it was E / J. i" ll try and dig up the post.
as for gartleys...i am SURE u know way more than I. please enlighten me.
as for the C to D leg, the first thing i look for is to see if it takes out the prior swing hi/lo at point B. I also look to see if the C to D leg moves at least half the # of pips of the range of A to B
the fib extensions are good places to take profit for sure. the key for me is to scale out at those levels/pivots/when mkt stalls. Why? i like to take profit. I never know when the trend is over till its over, BUT when i ahve profit, i know it.
If I don't see the C to D leg take out point B, then i am on guard for the possibility that the trend maybe losing momentum and i my see the mkt move into a "beyond D" behavior.
as for the pivots - Imran has incorporated them into one of the templates here.
I also posted some files not too long ago.
hope that helps.
i guess it could be related to EW patterns, however, that is the only 'wave' pattern i really look for and i look for it in these TFs up to the 1 HR. i dont get caught up with the whole counting thing... i find that to be very subjective and easy to come out w/different coutns; not that i am an EW expert by any means, actually i am not that familiar at all w/ real EW. I just like to keep it simple - ABCD. look to get in early from a to b when possible; mostly trade C to D. and stayin away from beyond D unless i have significant profit form the prior legs OR i see a strong divergence in the beyond D area, i might try for a reversal setup, but ONLY if i have good profit (and will try that with reduced lots). I posted a chart soime time ago here where i looked for MACD div. that resulted in a Reversal upwards after an ABCD down move... i think it was E / J. i" ll try and dig up the post.
as for gartleys...i am SURE u know way more than I. please enlighten me.
as for the C to D leg, the first thing i look for is to see if it takes out the prior swing hi/lo at point B. I also look to see if the C to D leg moves at least half the # of pips of the range of A to B
the fib extensions are good places to take profit for sure. the key for me is to scale out at those levels/pivots/when mkt stalls. Why? i like to take profit. I never know when the trend is over till its over, BUT when i ahve profit, i know it.
If I don't see the C to D leg take out point B, then i am on guard for the possibility that the trend maybe losing momentum and i my see the mkt move into a "beyond D" behavior.
as for the pivots - Imran has incorporated them into one of the templates here.
I also posted some files not too long ago.
hope that helps.
Hi there fx_ninja,
Just wanted to comment on how much I enjoy your posts. They are very informative and have excellent analysis. Seems like you employ Elliot Wave and Gartley Patterns into your analysis as per your chart.
I was thinking that possible future targets to look for if the down trend continues would be fib. extentions or expansions from your 50% retracement at point C. Would you agree?
Also I noticed on some of your previous charts that you had mid pivot ranges and other data in the upper left hand corner of your chart resembling the type of analysis on mid pivots by Peter Bain. Is this a custom indicator that plots that kind of information?
Thanks again fx_ninja for your postings, I'm sure they help to guide a lot of traders along the right path with Imran's Laguerre strategy
Take care !!........T-Wolf
- #1,032
- Oct 8, 2007 3:14pm Oct 8, 2007 3:14pm
- | Joined Nov 2006 | Status: Trader | 1,143 Posts
24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
