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

Imran,
With the news approaching @8:30 for the PPI
Lets demo this move. This how I see it. GBP/US clearly bearish, below the low of the day on 1hr, monthly pivot, lg1 and 2 bottomed out, 4hr at the 200ema
target S3
thx imran & fx_ninja,
i guess no harm to take some profit before the news....
Quoting PipCop
Imran,
With the news approaching @8:30 for the PPI
Lets demo this move. This how I see it. GBP/US clearly bearish, below the low of the day on 1hr, monthly pivot, lg1 and 2 bottomed out, 4hr at the 200ema
target S3
ok..send me the chart pls..my Mt4 seems to be crashing
Quoting imransait
ok..send me the chart pls..my Mt4 seems to be crashing
check e-mail
Quoting PipCop
check e-mail
got it..so target is s3 and then reverse from there ?
Quoting imransait
got it..so target is s3 and then reverse from there ?
yes
Quoting PipCop
yes
its actually reverse happening..it was usd bearish news
Guys
look back start of next week, adding the last indicator to confirm and filter our entries and exits , its really exciting and is working good..finished tests this week...next week will post charts and the indicator
imran,did u close the trade before the news? i am stopout and loss of -15pips.a big bull came charging towards us!!!
Quoting fxking
imran,did u close the trade before the news? i am stopout and loss of -15pips.a big bull came charging towards us!!!
yes, i stopped trading 30 mins before news.
Quoting imransait
yes, i stopped trading 30 mins before news.
r u still bearish or bullish or now?
could you send today your trade so that we can see your chart
Quoting imransait
its actually reverse happening..it was usd bearish news
US Bearish news would drive the gbp up, but strong gbp bearish, price is ranging above the high of the day near the daily pivot now, maybe the monthly pivot could have played a role, price has been hanging around this area for some time (1hr chart) This would be a factor to consider next news trade. This has been a learning experience and we will overcome this new method.
Good day Imransait. Excellent post on your system! I've been here a while but couldn't post a reply until today. I had to wait for authorization to be approved. Let me know if you received my email.

Brian
news was mixed. first spike was down (initially reaction- usd positive)then mkt rebounded. this behaviour due to conflcting data.
look at yest. gbp/usd hi and todays lo. mkt is now around the 50% retacement area.

*good call on the move and reverse to s1 - chart attached

Quoting PipCop
US Bearish news would drive the gbp up, but strong gbp bearish, price is ranging above the high of the day near the daily pivot now, maybe the monthly pivot could have played a role, price has been hanging around this area for some time (1hr chart) This would be a factor to consider next news trade. This has been a learning experience and we will overcome this new method.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp usd 01.jpg Size: 163 KB
Quoting fxdiva
If you're happy with 22 pips you'll be twice as happy with 44

On you next trade, try closing out all but say 1 micro mini lot (if your broker allows you to trade that small) and let it go until Lag-2 turns in the opposite direction and then you will be able to appreciate the real power and beauty of this system.

You will never settle again . . .

Happy pipping,
Can I ask you how long you wait until you move your SL to BE? In a market with regular volume, UK & US for example. Also do you move your SL at any other points between it's original setting (do you use 25 pips?) and BE? If my question isn't clear, like once your up by +15 pips then moving the SL from 25 down to 15 pips perhaps?

Thanks alot! Have a good one.

Pip Hunter
PipHunter
Wow,
Looks like I missed over 100pips on my way to work . . . oh well, they'll probably be more later on today, if not, then Monday.



Happy pipping,
Fx Diva
Looks like its start to become bearish now....but since the news is just around the corner might want to wait after the news...or is it better to enter now?..risky but heheheee
Attached Image (click to enlarge)
Click to Enlarge Name: chart3.gif Size: 15 KB
Quoting Pip Hunter
Can I ask you how long you wait until you move your SL to BE? In a market with regular volume, UK & US for example. Also do you move your SL at any other points between it's original setting (do you use 25 pips?) and BE? If my question isn't clear, like once your up by +15 pips then moving the SL from 25 down to 15 pips perhaps?

Thanks alot! Have a good one.

Pip Hunter
It really varies. I definitely try to stick with the 25 SL and I certainly advise the BE. I also tend to move my stops as price action passes certain levels of support or resistance or depending on momentum, the previous swing high or low. No definite rules, I just try to feel out the market.

Working with the 5min has been a bit different for me. I usually trade 15min and higher. The main ingedient to the entire process is just patience . . . and that's the hardest part of all.


Happy pipping,
Fx Diva
e / j and g /j may do the typical minor reversal for buying around 945 - 950 a.m. eastern. this PB prolly for retracement w/buy side support. lets see...
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