Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait | Page 104 | Forex Factory

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

  • #2,061
  • Oct 16, 2007 9:41pm Oct 16, 2007 9:41pm
Sorry. I am not using the LISPA and am not familiar. So take what i say re your paticualr chart w/ a grain of salt.
I am trading manually. w/ lag 1 and 2, etc...
MOSTLY e/j for me.

from a quick glance, chart shows shortside bias = ALL long signals will be COUNTER TREND until the short side trend ENDS.

trade with the trend
sell at R and take profit at the support levels ( BB mid and botm, etc...)

Quoting Shocker2
Can u please go to page 136 post #2036 and tell me about those charts and if thy where trades or not.

Thanks
  • #2,062
  • Oct 16, 2007 9:44pm Oct 16, 2007 9:44pm
Quoting Shocker2
RIght now at 4:50pm EST GMT time. GBPJPY trade has moved up 40 pip. I have pics of 1min, 5m, 15m charts... Y didnt the 5min cahrt show a long postion? AM I in the wrong and was I supposed to look at the 15m or 1m chart?
the 5min chart showed the long entry, so what was wrong

check the position of the lags, they were all going up, if the trade was as per rules on post 1, then it would not have been a problem
  • #2,063
  • Oct 16, 2007 9:44pm Oct 16, 2007 9:44pm
for E / J, more DS coming . r @ .05 nxt target 67 area
  • #2,064
  • Oct 16, 2007 9:47pm Oct 16, 2007 9:47pm
Quoting imransait
The lag2 only gets pinned down for long when its coming close to the end of the trend and is consolidating, unless both lag1 and lag2 dont confirm a move down or up, its better to wait and enter a little late then enter early and lose some pips

check with bollinger band and see where the price action is , the positions of MA's and then take a entry
Can I ask if there is a situation that's preferable? Like seeing it flattened, top or bottom for a candle or two?
PipHunter
  • #2,065
  • Oct 16, 2007 9:51pm Oct 16, 2007 9:51pm
Quoting fx_ninja
for E / J, more DS coming . r @ .05 nxt target 67 area
maybe after some retrace as 1min and 5 min lag 2 is at bottom , but 15min, D/s is still on
  • #2,066
  • Oct 16, 2007 9:52pm Oct 16, 2007 9:52pm
this is why u dont trade this leg w/out profit.
can be tricky...
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  • #2,067
  • Oct 16, 2007 9:53pm Oct 16, 2007 9:53pm
Quoting Pip Hunter
Can I ask if there is a situation that's preferable? Like seeing it flattened, top or bottom for a candle or two?
sometimes or almost most of the time, on 5min chart, the lag2 is flat for 15-20 candles..so nothing specific is prefered...but usually after 10-15 candles,trade can be taken in the direction of the lag2
  • #2,068
  • Oct 16, 2007 9:56pm Oct 16, 2007 9:56pm
Hi everyone, was watching tv and the alert made me come to the computer earlier to take this classic set-up. Laq1 moved under signal line as laq2 was pinned on the top. At the same time price was bouncing around the daily pivot line bollinger bands were tightening up and moving up slowly. Great classic set-up took profit when it hit support level almost 100 pips. Price is looking to reverse on the 5m as both laqs are pressed down and laq1 is making it's cross above the signal line and bouncing from daily support level.

Cheers!

Chris
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Push yourself to your fullest potential!!
  • #2,069
  • Oct 16, 2007 9:58pm Oct 16, 2007 9:58pm
So around oct 16 18:55, both lags where starting to point up, so this is where I would of entered the trade. This correct?
Life is a game, play it well, their is no restart!
  • #2,070
  • Oct 16, 2007 10:00pm Oct 16, 2007 10:00pm
Quoting viking1975
Hi everyone, was watching tv and the alert made me come to the computer earlier to take this classic set-up. Laq1 moved under signal line as laq2 was pinned on the top. At the same time price was bouncing around the daily pivot line bollinger bands were tightening up and moving up slowly. Great classic set-up took profit when it hit support level almost 100 pips. Price is looking to reverse on the 5m as both laqs are pressed down and laq1 is making it's cross above the signal line and bouncing from daily support level.

Cheers!

Chris
gr8 trade, makes it look so easy, and it is really easy, if we can only stick to such simple chart.

i am going to use some of these examples in the pdf that i am making,
  • #2,071
  • Oct 16, 2007 10:01pm Oct 16, 2007 10:01pm
Quoting Shocker2
So around oct 16 18:55, both lags where starting to point up, so this is where I would of entered the trade. This correct?
yes, that would have been a good trade but u need to know that it was a counter trend so u should take profits as u get , dont wait for a 100 pip move
  • #2,072
  • Oct 16, 2007 10:06pm Oct 16, 2007 10:06pm
yes, perfect and clean.
  • #2,073
  • Oct 16, 2007 10:09pm Oct 16, 2007 10:09pm
Hi everyone,
Thanks irmainsait for giving us this wonderful and powerful system of trading. I have been learning and learning forex for 2 years now and to all newbies there is a time where it all starts coming together and it's that moment for me thanks to you alot. Having been watching price and price movement for 2 years now it's all starting to make sense after alot of frustration it's becoming like a road map to me and you can almost watch price move around pivots and fibs and watch candles dance along those lines and watching this indicator the laq show it's next move is almost amazing to see. I'm switching my job at work so I can trade London session and I'm very excited to do it. Thanks irmansait and fx_ninja and thunderwolf and fx diva and everyone here for this process together. Let's keep this going!! And please use any of my charts that may be a assist to you in making your pdf. Many blessings to you!!

cheers!

Chris
Push yourself to your fullest potential!!
  • #2,074
  • Oct 16, 2007 10:14pm Oct 16, 2007 10:14pm
Quoting viking1975
Hi everyone,
Thanks irmainsait for giving us this wonderful and powerful system of trading. I have been learning and learning forex for 2 years now and to all newbies there is a time where it all starts coming together and it's that moment for me thanks to you alot. Having been watching price and price movement for 2 years now it's all starting to make sense after alot of frustration it's becoming like a road map to me and you can almost watch price move around pivots and fibs and watch candles dance along those lines and watching this indicator the laq show it's next move is almost amazing to see. I'm switching my job at work so I can trade London session and I'm very excited to do it. Thanks irmansait and fx_ninja and thunderwolf and fx diva and everyone here for this process together. Let's keep this going!! And please use any of my charts that may be a assist to you in making your pdf. Many blessings to you!!

cheers!

Chris
ur welcome chris, it gives me lots of pleasure to know that someone had benefited from what i have learnt and am still learning, its been really a eye opener that simple systems are indeed powerful and profitable

look forward to you trading the london session

imran
  • #2,075
  • Oct 16, 2007 10:19pm Oct 16, 2007 10:19pm
Hi Fx_ninja,

Wow, When I saw your chart with the MACD divergence and where price was heading to that support level and watch it reverse was something to behold I had to head to bed but I got in the reverse up move on 5m EurJPy and in long now have break even at 15pips and gonna watch it for a little bit for heading to bed. I added MACD back again because macd divergence is a powerful thing when used with the laqs and it keeps the system simple!

Cheers!

Chris
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Push yourself to your fullest potential!!
  • #2,076
  • Oct 16, 2007 10:25pm Oct 16, 2007 10:25pm
great job. tested S1 twice with R @ .05, then reversed up.
  • #2,077
  • Oct 16, 2007 10:27pm Oct 16, 2007 10:27pm
got stopped out at a lil swing for 15 pips but that's pretty nice on a bounce might have to stay awake a lil longer to see if a continuation occurs as price flirts around my interday s1...this movement is rare though for the asian session though...a fluke night
Push yourself to your fullest potential!!
  • #2,078
  • Oct 16, 2007 10:29pm Oct 16, 2007 10:29pm
Hello Imran,

Post1 has latest templates and indicators ?

i see charts of m1, but template of m5 on post1 ?
  • #2,079
  • Oct 16, 2007 10:31pm Oct 16, 2007 10:31pm
Quoting peterdxb
Hello Imran,

Post1 has latest templates and indicators ?

i see charts of m1, but template of m5 on post1 ?
template works on all timeframes, post 1 has all of the indicators and template
  • #2,080
  • Oct 16, 2007 10:32pm Oct 16, 2007 10:32pm
Thanks for the quick reply.


Quoting imransait
template works on all timeframes, post 1 has all of the indicators and template
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