Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait | Page 112 | Forex Factory

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

  • #2,221
  • Oct 18, 2007 8:56am Oct 18, 2007 8:56am
Is there a good way usings the lags to distinguish between a trend reversal and a retracement?? Please confirm my reasoning. If the price action crosses the daily pivot, and 200ems then it is a trend reversal. Otherwise it is a retracement??? Please any guidance in this area would be helpful.
  • #2,222
  • Oct 18, 2007 9:02am Oct 18, 2007 9:02am
Quoting fx_ninja
another classic dbl botm setup...guess i'll have to wait for the next train.
for short you mean ?!
  • #2,223
  • Oct 18, 2007 9:14am Oct 18, 2007 9:14am
my comments here are made i perspective of the 5 min, altho other TF may apply:

sometimes if u wait till it cross those points u mentioned, it is kind of late. look at yest. action (day session).
u need to pay attention to the market cycle
often a reversal will be preceded by consolidation, but not always.

examine price action when the blue lag gives a signal AND the red lag is moving in the opposite direction where you have already been in the trade for a while, that is more likely to indicate a retracement.

when the red lag is pinned at the extreme of a range, ________
and the blue lag gives a signal___/ , then it si more likely to be a good move OR a reversal if the price action is showing similar signs.

These are some general guidelines. The market does what it wants.
unfortunately i dont think there is a cut and dry answer.

even if u look at the last UP signals for E /J and U /J u have to view retracement vs. reversal in perspective of the price action.

this is why it all ultimately comes down to risk vs. reward



Quoting spin703
Is there a good way usings the lags to distinguish between a trend reversal and a retracement?? Please confirm my reasoning. If the price action crosses the daily pivot, and 200ems then it is a trend reversal. Otherwise it is a retracement??? Please any guidance in this area would be helpful.
  • #2,224
  • Oct 18, 2007 9:19am Oct 18, 2007 9:19am
Quoting imransait
trend is bearish so giving only the supports

Daily Pivot : - 237.31
S1 - 235.80
S2 - 234.32
I have a different Daily Pivot -237.52 Why?
  • #2,225
  • Oct 18, 2007 9:21am Oct 18, 2007 9:21am
att
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  • #2,226
  • Oct 18, 2007 9:33am Oct 18, 2007 9:33am
Hi Folks !

I've a question regarding the use of imrans method on higher timeframes
like 1h, 4h and daily charts.

I have a fulltime job from 9 to 6 and no access at work to my
MT4 charting platform.

I think the reliability using higher time frames must be similar to
the one on the short ones.

What is your experience ?

What about the stop loss settings ?

Greetings and happy pippin

Bernhard
  • #2,227
  • Oct 18, 2007 9:35am Oct 18, 2007 9:35am
argentrad - read posts 2191 - 2200 regarding your pivots.

-motherpip
  • #2,228
  • Oct 18, 2007 9:37am Oct 18, 2007 9:37am
moment SELL
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  • #2,229
  • Oct 18, 2007 9:42am Oct 18, 2007 9:42am
Quoting lkthomas
imransait, what about you give other user a hints that G/J always retrace at 50% fib ?
gbp/jpy has a regular habit of retracing to atleast 50% after a fall or rise, so just to keep a watch at that level and to take partial profits off the table
  • #2,230
  • Oct 18, 2007 9:42am Oct 18, 2007 9:42am
Quoting felipeds
moment SELL
I don't think it got enought momentum to drop or we are selling G/U already as it move way more faster.
  • #2,231
  • Oct 18, 2007 9:43am Oct 18, 2007 9:43am
Quoting felipeds
moment SELL
yes, can be a good point to short...
  • #2,232
  • Oct 18, 2007 9:44am Oct 18, 2007 9:44am
Quoting imransait
gbp/jpy has a regular habit of retracing to atleast 50% after a fall or rise, so just to keep a watch at that level and to take partial profits off the table
Put this to the First of your thread please
  • #2,233
  • Oct 18, 2007 9:47am Oct 18, 2007 9:47am
Quoting behof
Hi Folks !

I've a question regarding the use of imrans method on higher timeframes
like 1h, 4h and daily charts.

I have a fulltime job from 9 to 6 and no access at work to my
MT4 charting platform.

I think the reliability using higher time frames must be similar to
the one on the short ones.

What is your experience ?

What about the stop loss settings ?

Greetings and happy pippin

Bernhard
bernhad, this method works good on all timeframes, jst combine it with fibs

use the blue lag for entry and red lag for exit...u can expect 250-400 pips in the 1hr to 4hr timeframe, over a period of 3-4 days time

SL should be 100 pips from your entry at the extreme entry point and move it to BE once it moves 100 pips...

I have not used more then 15min timframe for my trades, so i cant tell u more about it

imran
  • #2,234
  • Oct 18, 2007 10:38am Oct 18, 2007 10:38am
please can somebody help me out, i don't seams to get how this method work. using the example attached to the indicator, what i have is attached. i noticed that but Lag 1 and Lag 2 where separate in the the attached chart by the creator, but on my chart they were lump together.
please, i need more help on this, i am new to forex trading.
Success is a Journey
  • #2,235
  • Oct 18, 2007 10:42am Oct 18, 2007 10:42am
Quoting ejanafish
please can somebody help me out, i don't seams to get how this method work. using the example attached to the indicator, what i have is attached. i noticed that but Lag 1 and Lag 2 where separate in the the attached chart by the creator, but on my chart they were lump together.
please, i need more help on this, i am new to forex trading.
Hi

Download the template file from post 1 and use that, it will show u 2 seperate lags , what ur seeing is maybe the 2 lags put under one window for convenice of some users

imran
  • #2,236
  • Oct 18, 2007 10:44am Oct 18, 2007 10:44am
Quoting MotherPip
argentrad - read posts 2191 - 2200 regarding your pivots.

-motherpip
tks everything has been clarified it depends on the broker
  • #2,237
  • Oct 18, 2007 10:51am Oct 18, 2007 10:51am
blue lag crosses 0.15 and red around lag of 0.85; to buy thus?
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  • #2,238
  • Oct 18, 2007 11:00am Oct 18, 2007 11:00am
Quoting felipeds
blue lag crosses 0.15 and red around lag of 0.85; to buy thus?
not safe to buy, as reg lag may come down, but if u take a trade, lock in pips as u move up...i would not take this long trade
  • #2,239
  • Oct 18, 2007 11:08am Oct 18, 2007 11:08am
imransait, I accidentally short E/U @ 1.4285, bad move again ...
  • #2,240
  • Oct 18, 2007 11:12am Oct 18, 2007 11:12am
People, wha do you think the chances are off gbpjpy comfortably breaching S1 and making it to level S2 ?
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