Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait | Page 72 | Forex Factory

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Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait

  • #1,421
  • Oct 10, 2007 8:15am Oct 10, 2007 8:15am
guys and girls,this thread is HOT!!! we are approaching the 100th pages! its like all the traders keep buying....good trades to all!
  • #1,422
  • Oct 10, 2007 8:16am Oct 10, 2007 8:16am
200 ema is acting as strong resistance, keep a watch for the break of it.
till then just be on the sidelines or take small trades
  • #1,423
  • Oct 10, 2007 8:18am Oct 10, 2007 8:18am
Quoting fxdiva
Price action is really giving us a "run for our money" today (no pun intended). I'm not sure why it's moved so slow today . . . usually price trends well about 3 days out of the week. I'm still watching for Lag-2.

Once I'm out of this trade I'll be done for the day. Market is crawling . . .
Price will be good once US session closes, if DOW closes in the red, expect price to drop after US closes, seems a very interesting asian session in place

Guys, just dont trade for sake of trading, if ur made enough, go home, chill out , relax and plan for tomm
  • #1,424
  • Oct 10, 2007 8:20am Oct 10, 2007 8:20am
Quoting imransait
200 ema is acting as strong resistance, keep a watch for the break of it.
till then just be on the sidelines or take small trades
Thanks, I did notice what appears to be a triple bottom . . .
Fx Diva
  • #1,425
  • Oct 10, 2007 8:20am Oct 10, 2007 8:20am
Quoting imransait
200 ema is acting as strong resistance, keep a watch for the break of it.
till then just be on the sidelines or take small trades
200 ema was broken by almost 20 pips. The lags weren't right so I wouldn't have normally gone short, but I didn't immediately cancel the short trade that was accidentally triggered because it looked like the 200ema was broken and it would drop. Then all of the sudden it jumped up 30 pips. I should have just cancelled that order as soon as I saw it got placed and eaten the spread.
  • #1,426
  • Oct 10, 2007 8:20am Oct 10, 2007 8:20am
diva are you short on geppy?
  • #1,427
  • Oct 10, 2007 8:21am Oct 10, 2007 8:21am
Quoting imransait
Price will be good once US session closes, if DOW closes in the red, expect price to drop after US closes, seems a very interesting asian session in place

Guys, just dont trade for sake of trading, if ur made enough, go home, chill out , relax and plan for tomm
I just woke up an hour ago, so I can't go home and chill out . I'm -24 pips right now
  • #1,428
  • Oct 10, 2007 8:36am Oct 10, 2007 8:36am
[quote=imransait;1637753]Price will be good once US session closes, if DOW closes in the red, expect price to drop after US closes, seems a very interesting asian session in place


Could you explain more about your comments regarding the DOW and the US/Asian session? I curious about what your seeing.

Pip Hunter
PipHunter
  • #1,429
  • Oct 10, 2007 8:38am Oct 10, 2007 8:38am
[quote=Pip Hunter;1637781]
Quoting imransait
Price will be good once US session closes, if DOW closes in the red, expect price to drop after US closes, seems a very interesting asian session in place


Could you explain more about your comments regarding the DOW and the US/Asian session? I curious about what your seeing.

Pip Hunter
Yeah...I thought once the DOW closed this currency was in a major dead zone for hours until the Tokyo session started. Atleast a few days ago you told me not to trade once the US session (DOW) closed.
  • #1,430
  • Oct 10, 2007 8:38am Oct 10, 2007 8:38am
The asian pairs have a co-relation with the dow. If the dow drops generally you will see the asian pairs follow. When the subprime issue was more prevalent they followed very closely but now it seems that they dont follow as close.
  • #1,431
  • Oct 10, 2007 8:39am Oct 10, 2007 8:39am
Quoting fss side
diva are you short on geppy?
Not anymore my Lag-2 is above .15 Trading really small though, just for experience.
Fx Diva
  • #1,432
  • Oct 10, 2007 8:41am Oct 10, 2007 8:41am
Quoting fss side
The asian pairs have a co-relation with the dow. If the dow drops generally you will see the asian pairs follow. When the subprime issue was more prevalent they followed very closely but now it seems that they dont follow as close.

That's good info, thanks!

Pip Hunter
PipHunter
  • #1,433
  • Oct 10, 2007 8:42am Oct 10, 2007 8:42am
Imrain,

Let me know what you think of my "plans" for today.

Resistance is Daily R1 @ 239.69.
Support is 200 EMA currently @ 239.30 aprox.

If the lags suggest a long position and it's broken 239.69 by 10 pips, enter long.

If the lags suggest a sell position and it's broken 239.30 by 10 pips, enter short.

Thoughts?
  • #1,434
  • Oct 10, 2007 8:46am Oct 10, 2007 8:46am
Quoting fxdiva
Not anymore my Lag-2 is above .15 Trading really small though, just for experience.
I made a stupid mistake and jumped in on the short side when I thought the 200ema gave way. No big deal as I was only 1 mini lot also.
  • #1,435
  • Oct 10, 2007 8:49am Oct 10, 2007 8:49am
Quoting BFried
Imrain,

Let me know what you think of my "plans" for today.

Resistance is Daily R1 @ 239.69.
Support is 200 EMA currently @ 239.30 aprox.

If the lags suggest a long position and it's broken 239.69 by 10 pips, enter long.

If the lags suggest a sell position and it's broken 239.30 by 10 pips, enter long.

Thoughts?
Did you mean to say enter short on your second plan below 239.30?

Pip Hunter
PipHunter
  • #1,436
  • Oct 10, 2007 8:50am Oct 10, 2007 8:50am
Quoting fss side
I made a stupid mistake and jumped in on the short side when I thought the 200ema gave way. No big deal as I was only 1 mini lot also.
That's what happened to me, but I didn't choose to do it. My trailing stop from a previous order got triggered (because I forgot to cancel it) and it put me short once the 200ema broke. It was only 3 mini lots, but I still lost 70 bucks for no reason.
  • #1,437
  • Oct 10, 2007 8:50am Oct 10, 2007 8:50am
Quoting Pip Hunter
Did you mean to say enter short on your second plan below 239.30?

Pip Hunter
Yes, fixed, sorry.
  • #1,438
  • Oct 10, 2007 8:50am Oct 10, 2007 8:50am
Damn, thread moves fast Another ten pages
Was there and EA made for this system yet?
Thanks
24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
  • #1,439
  • Oct 10, 2007 8:51am Oct 10, 2007 8:51am
Quoting fss side
I made a stupid mistake and jumped in on the short side when I thought the 200ema gave way. No big deal as I was only 1 mini lot also.
The whole morning has been crazy . . . at this point I'm just going to see what happens next.

Now price is moving down. If middle bollinger holds, good if not, I'm really out for the day.

Sometimes I think it's the brokers :
Fx Diva
  • #1,440
  • Oct 10, 2007 8:52am Oct 10, 2007 8:52am
Here we go...it's testing 200ema for a 4th time now. It just broke it by 2 pips and the lags are pointing down in agreement. If the lags continue to look like they do now and it drops 8 more pips I think I have to go in...unless anyone can suggest why not.
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