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Indicators and Rules for Simple Method of Scalping GBP/Jpy on 5 min chart 18 replies

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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

Thanks Derm. Now I see what you were getting at. Happy Trading!

Quoting Derm
I was finding myself trying to look at to many currencies and missing moves. I wanted to concentrate on a few, but which ones?

I came up with this table as a tool to help me choose 6 curencies, (which are highligted in green).

It was an experiment to see which pairs had the highest liquidity and the greatest average daily pip movement. I then put my broker spreads into the equation as added information to help me rate each pair.

The final rating shows which pairs (historically) have the greatest daily movement, together with the greatest liquidity and give the best value as per the brokers I use. Most of the information is probably what I expeced but it's good to have it on my wall for reference.

Although the purpose was to find 'my six', it really helped me to highlight the ones I really should not be wasting my time on.
Imran

i see ure doing very well my friend

Keep it up bro

HM
Quoting rgitt05
Hi Imran,

First of all, I would like to thank you for contributing your method to the forex forum....


I found this indicator shown on my chart to be very helpful with the basic trendline...

ZeroLag Stochs

White above Red go Long

Red above white go Short

I used the trendline to help me determine the direction..

Also, I add another position when it bounce off the TRENDLINE...


I took a trade @ 232.50 and my target#1 @ 234.25 = 175 pips hopefully in another hour

Thanks..

God Bless You..
Hi Rgitt

never seen this indicator before. How do you use it? Do you simply look for the lines to cross each other or does there have to be something else that is also in alignment?
Quoting Hakuna Matata
Imran

i see ure doing very well my friend

Keep it up bro

HM
Thanks, HM, your comments are appreciated, did you get to try this method

ur feedback can enhance this more
Hello Matata,

All those pips using Imran system or yours ?

Quoting Hakuna Matata
Imran

i see ure doing very well my friend

Keep it up bro

HM
I used Forex 101...

Basic Trendline drawn to determine the direction..

I stay in the trade until the two lines cross..

White above Red stay LONG

Red above White stay Short

I like using this indicator because I get an early signal for entry or exit..

Back test yourself...




Quoting rocwell
Hi Rgitt

never seen this indicator before. How do you use it? Do you simply look for the lines to cross each other or does there have to be something else that is also in alignment?
[
c'mon! fill the gap. lol
long closed...short opened at 234.35 target is 233.00
Attached Image (click to enlarge)
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I've been watching this pair for a while now. It just did a nice predictable move through a 1000 fractal on the Absolute Fibonacci Framework. Beautiful! Bang on the line on our strong barrier (in red).
Attached Image
The framework is there; we just have to work on our frame of mind.
Hi imran, i dont see a signal for the short trade on a 5 min chart. Am i missing something?
Quoting rocwell
Hi imran, i dont see a signal for the short trade on a 5 min chart. Am i missing something?
i took this trade ahead of signal...my SL is at 234.75
Looking at the chart you posted the lag 1 hasnt retraced back below the .85 level so i would have thought we would remain on hte sidelines
oh..ok!

just thought i was missing the plot for some reason. Thanks for clarifying
Quoting rocwell
Looking at the chart you posted the lag 1 hasnt retraced back below the .85 level so i would have thought we would remain on hte sidelines
yes, better wait till that is done as i took this based on the 1min and 5min red lag being on top for long time, and time for it to continue down. plus the entry point for me was good...
imransait, I took a short entry for AUD/JPY @ 101.25, I didn't cut it yet and hopefully it will continue to go down, wish god with me.
I am fucked up again, shit!
Quoting rocwell
Looking at the chart you posted the lag 1 hasnt retraced back below the .85 level so i would have thought we would remain on hte sidelines
hello rocwell - imran change .85 level to .90 level
Quoting lkthomas
imransait, I took a short entry for AUD/JPY @ 101.25, I didn't cut it yet and hopefully it will continue to go down, wish god with me.
I am fucked up again, shit!
what made u take it, i dont see any trade where u should have shorted it at that price, hold on..once london opens it will come down
Quoting imransait
what made u take it, i dont see any trade where u should have shorted it at that price, hold on..once london opens it will come down
let's hope it will, try to goto take a look on 5mins TF, you should see a time that Lag1 turns down and Lag2 still on top level, that's the time I short it.
Quoting driftwood
hello rocwell - imran change .85 level to .90 level

Thanks driftwood!
Went short 234.16...1st TP 233.45 (S1).
Attached Image (click to enlarge)
Click to Enlarge Name: good short.gif Size: 22 KB
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