Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait | Page 89 | Forex Factory

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

  • #1,761
  • Oct 12, 2007 4:24am Oct 12, 2007 4:24am
Quoting Chaos Wing
Guys, what do you thing bout this...?
should I go long or wait until daily pivot is broken
mate, hang on...dont think this will break higher, if the next 15min candle closes higher then can take a shot, my 5 min says its bearish
  • #1,762
  • Oct 12, 2007 4:25am Oct 12, 2007 4:25am
Hi guys,

Here's a nice example of a trade I just got into with the Nzd/Usd. This is how I have my charts set up with profiles like this for each pair I monitor. These charts show what FX Diva was explaining a while ago about making sure the lags are in agreement and pointing in the same direction. The 1M chart gives me an early warning for the 5M chart and the 15M chart confirms the strength and the direction of the 5M chart. The green vertical line shows the point of entry on all 3 time frames. Currently up 27 pips on this trade.
Attached Image (click to enlarge)
Click to Enlarge Name: 3 chart 2.gif Size: 63 KB
  • #1,763
  • Oct 12, 2007 4:25am Oct 12, 2007 4:25am
Quoting demontaz
Anyone in this trade?

I'm long from 166.45 but its fighting the Daily Pivot, just need a close above it and we're gravy certainly looks like it is trying to load up a big breakout north. But who know, not me ...

Managed to take over 100+ pips last night off this pair. Hoping today is just as good...
no mate, get out of the trade, its bearish...it has failed to go above daily pivot 4 times...get into shorts
  • #1,764
  • Oct 12, 2007 4:28am Oct 12, 2007 4:28am
Quoting thunderwolf
Hi guys,

Here's a nice example of a trade I just got into with the Nzd/Usd. This is how I have my charts set up with profiles like this for each pair I monitor. These charts show what FX Diva was explaining a while ago about making sure the lags are in agreement and pointing in the same direction. The 1M chart gives me an early warning for the 5M chart and the 15M chart confirms the strength and the direction of the 5M chart. The green vertical line shows the point of entry on all 3 time frames. Currently up 27 pips on this trade.
good chart mate, i am testing with adding MACD as a second confirmation for taking trades and so far looks good..post ur template so i can check it out also

ur analysis is spot on, will add this in the rules post
  • #1,765
  • Oct 12, 2007 4:31am Oct 12, 2007 4:31am
Quoting imransait
mate, hang on...dont think this will break higher, if the next 15min candle closes higher then can take a shot, my 5 min says its bearish
Ok I guess I wait a little longer. Hopefully it can break the daily pivot.
Imran, have u already went short on this?or still waiting?
  • #1,766
  • Oct 12, 2007 4:32am Oct 12, 2007 4:32am
Quoting Chaos Wing
Ok I guess I wait a little longer. Hopefully it can break the daily pivot.
Imran, have u already went short on this?or still waiting?
am already short from 238.15 , targeting S1 and weekly pivot
  • #1,767
  • Oct 12, 2007 4:32am Oct 12, 2007 4:32am
Quoting imransait
no mate, get out of the trade, its bearish...it has failed to go above daily pivot 4 times...get into shorts
Well I have nothing to lose as my Stop Loss is at Breakeven but if it turns south I will be there with bells on

Update: Closed for 5+ pips
  • #1,768
  • Oct 12, 2007 4:34am Oct 12, 2007 4:34am
Quoting thunderwolf
Hi guys,

Here's a nice example of a trade I just got into with the Nzd/Usd. This is how I have my charts set up with profiles like this for each pair I monitor. These charts show what FX Diva was explaining a while ago about making sure the lags are in agreement and pointing in the same direction. The 1M chart gives me an early warning for the 5M chart and the 15M chart confirms the strength and the direction of the 5M chart. The green vertical line shows the point of entry on all 3 time frames. Currently up 27 pips on this trade.
Good finding man, but its rare to see all 3 timeframe with same Lag direction. Gotta have lots of passion.
  • #1,769
  • Oct 12, 2007 4:42am Oct 12, 2007 4:42am
Quoting imransait
am already short from 238.15 , targeting S1 and weekly pivot
U must be talking bout GY...btw mine is EY
About tonite news-Producer Price Index (PPI) , what are you expectation?
  • #1,770
  • Oct 12, 2007 4:47am Oct 12, 2007 4:47am
Quoting imransait
good chart mate, i am testing with adding MACD as a second confirmation for taking trades and so far looks good..post ur template so i can check it out also

ur analysis is spot on, will add this in the rules post
Here's the Template for my chart with MACD Traditional. The MACD traditional must be downloaded first. Then the Template. I believe I posted the MACD indicator on the previous page and so did FX Diva.
Attached File(s)
File Type: tpl imrans 2 laguerre.tpl   12 KB | 606 downloads
  • #1,771
  • Oct 12, 2007 4:50am Oct 12, 2007 4:50am
Quoting thunderwolf
Here's the Template for my chart with MACD Traditional. The MACD traditional must be downloaded first. Then the Template. I believe I posted the MACD indicator on the previous page and so did FX Diva.
thanks, have downloaded the MACD indicator, will download this also
  • #1,772
  • Oct 12, 2007 4:53am Oct 12, 2007 4:53am
Eur/Jpy signaled short for me on 5 min chart, so away we go. SL is 15pip above Daily Pivot.
  • #1,773
  • Oct 12, 2007 4:59am Oct 12, 2007 4:59am
Quoting demontaz
Eur/Jpy signaled short for me on 5 min chart, so away we go. SL is 15pip above Daily Pivot.
ur target should be 165.48 - S1
good one...
  • #1,774
  • Oct 12, 2007 5:08am Oct 12, 2007 5:08am
Quoting imransait
ur target should be 165.48 - S1
good one...
imran,normally u take profits at daily pivot point,S1-3,R1-3 ??
  • #1,775
  • Oct 12, 2007 5:12am Oct 12, 2007 5:12am
Quoting fxking
imran,normally u take profits at daily pivot point,S1-3,R1-3 ??
not necessary, i go with the flow of the red lag in 5min chart, but keeping in mind where it can reverse , so to avoid slippage of profits

imran
  • #1,776
  • Oct 12, 2007 5:17am Oct 12, 2007 5:17am
Hi Imran, I would just held out a little longer, another few bars and then everyone get ready to short.

My 2pences worth



Quoting imransait
not necessary, i go with the flow of the red lag in 5min chart, but keeping in mind where it can reverse , so to avoid slippage of profits

imran
  • #1,777
  • Oct 12, 2007 5:34am Oct 12, 2007 5:34am
wait another 2/3 bars more and then short at the mo 166-51 EURJPY.
  • #1,778
  • Oct 12, 2007 5:44am Oct 12, 2007 5:44am
Quoting guess121
wait another 2/3 bars more and then short at the mo 166-51 EURJPY.
I already did
Hopefully can close before US news tonight. Otherwise its gonna be very risky.
Tonight prediction is good sign for US thus will bring GBP & EU down...but not sure how its gonna effect GY & EY...anyone?
  • #1,779
  • Oct 12, 2007 5:49am Oct 12, 2007 5:49am
Quoting guess121
wait another 2/3 bars more and then short at the mo 166-51 EURJPY.
as long as entry rules are met, then its ok to enter,
  • #1,780
  • Oct 12, 2007 5:55am Oct 12, 2007 5:55am
Quoting thunderwolf
Hi Vinetime,

Here's the MACD indicator you're looking for ...T-Wolf
--- --- ---

Thanks Thunderwolf. Exactly what I needed. It's an old friend.

I'd like to find the source code for it sometime, and then begin to understand how to write routines in MQL.

Wishing you many pips, G.
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