Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait | Page 134 | Forex Factory

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

  • #2,661
  • Oct 22, 2007 5:49am Oct 22, 2007 5:49am
Quoting imransait
check this post

http://www.forexfactory.com/showpost...postcount=2608
I mean long from now
  • #2,662
  • Oct 22, 2007 5:49am Oct 22, 2007 5:49am
Hi Imransait !

Some posts before you mentioned something about correlation of
the currency pairs.

So if you watch GBP/USD, USD/JPY and GBP/JPY and you're trading
the GBP/JPY currency pair what are you looking for to catch the
best trade ?

For example this morning (GMT) GBP/USD went down and also did
USD/JPY.

So we have a synchronicity in both pairs.

The GBP/JPY went down > 300 pips !!!!

Should we pay special attention regarding this phenomenon beside
your standard criteria about the lags and stoch histogram ?

Greetings and carry on

Bernhard
  • #2,663
  • Oct 22, 2007 5:51am Oct 22, 2007 5:51am
Quoting lkthomas
I mean long from now
Long from 231.70 First Tp is 232.30
MY SL is at 231.20
  • #2,664
  • Oct 22, 2007 5:52am Oct 22, 2007 5:52am
Quoting behof
Hi Imransait !

Some posts before you mentioned something about correlation of
the currency pairs.

So if you watch GBP/USD, USD/JPY and GBP/JPY and you're trading
the GBP/JPY currency pair what are you looking for to catch the
best trade ?

For example this morning (GMT) GBP/USD went down and also did
USD/JPY.

So we have a synchronicity in both pairs.

The GBP/JPY went down > 300 pips !!!!

Should we pay special attention regarding this phenomenon beside
your standard criteria about the lags and stoch histogram ?

Greetings and carry on

Bernhard
well, its always good to watch these pairs if you are trading gbp/jpy, even thou it is not necessary for you to trade the other pairs, the red lag was in agreement in all 3 pairs,so this strong move was the result of this
  • #2,665
  • Oct 22, 2007 5:59am Oct 22, 2007 5:59am
Quoting imransait
Long from 231.70 First Tp is 232.30
MY SL is at 231.20


your stop-loss just hit !
G/J looks like free falling
  • #2,666
  • Oct 22, 2007 6:00am Oct 22, 2007 6:00am
Hi Imran,
Do you think GJ will ever have a reversal and if yes, when?
  • #2,667
  • Oct 22, 2007 6:01am Oct 22, 2007 6:01am
Quoting imransait
have a look at this chart, see if all 3 confirm and even if u enter one candle late, there are enough pips to be made, even with the high spread in g/jpy

also when in a strong bearish trend, never try to go counter trend

wait for all indicators to come to agreement or atleast the 2 of 3 ,
Good Morning Imran,

I got into this move a little late, but I'm still at about 250pips on g/j so far, for the day.

This system definitely give everyone a fighting chance to be a pip winning trading.

Happy pipping,
Fx Diva
  • #2,668
  • Oct 22, 2007 6:02am Oct 22, 2007 6:02am
Quoting lkthomas
your stop-loss just hit !
G/J looks like free falling
yes, lost 50 pips out of 600+ , happens to me sometimes when i dont follow my own rules
i was expecting a reversal
  • #2,669
  • Oct 22, 2007 6:04am Oct 22, 2007 6:04am
Imran our target achieve 231++ i think it hit this week but hit today..
  • #2,670
  • Oct 22, 2007 6:06am Oct 22, 2007 6:06am
Quoting jlimkw
Hi Imran,
Do you think GJ will ever have a reversal and if yes, when?
i will take a reversal trade only when the reg lag goes above 0.15 and stoch goes to positive from negative, till then i am out and will take a break and be back in 1 hr
  • #2,671
  • Oct 22, 2007 6:08am Oct 22, 2007 6:08am
Quoting silentfx
Imran our target achieve 231++ i think it hit this week but hit today..
yes, but seems to be a bounce back up....let the reg lag turn above 0.15 in 5 min and check the lag in 1 min and 15 min if u want to take long
  • #2,672
  • Oct 22, 2007 6:09am Oct 22, 2007 6:09am
Quoting fxdiva
Good Morning Imran,

I got into this move a little late, but I'm still at about 250pips on g/j so far, for the day.

This system definitely give everyone a fighting chance to be a pip winning trading.

Happy pipping,
Good Morning
Book the profits if left open and wait for a reversal signal, seems to head north now
it will be in this 231-234 range this week
  • #2,673
  • Oct 22, 2007 6:27am Oct 22, 2007 6:27am
Quoting imransait
took full profits ..now going long...for a quick scalp ..not recommended for the faint hearts
what a ride it was +270 pips

my earlier post
"
long closed...short opened at 234.35 target is 233.00 "
u are damed good imran! a class of your own indeed!
  • #2,674
  • Oct 22, 2007 6:33am Oct 22, 2007 6:33am
this is the current situation, goes to have patience to enter BUY as Imran said.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp-jpy-m5.gif Size: 19 KB
  • #2,675
  • Oct 22, 2007 6:47am Oct 22, 2007 6:47am
it's still on free falling, when does it going to be stop?!
  • #2,676
  • Oct 22, 2007 6:51am Oct 22, 2007 6:51am
(hehe, I was wrong, sorry)
  • #2,677
  • Oct 22, 2007 6:52am Oct 22, 2007 6:52am
Quoting lkthomas
it's still on free falling, when does it going to be stop?!
if the DOW also crashes, then maybe 227 today
got to wait now for US open
  • #2,678
  • Oct 22, 2007 6:55am Oct 22, 2007 6:55am
imransait, it suppose to have retracement period.

Also, how could you enter a trade on a middle of down trend ?
  • #2,679
  • Oct 22, 2007 6:57am Oct 22, 2007 6:57am
Quoting lkthomas
imransait, it suppose to have retracement period.

Also, how could you enter a trade on a middle of down trend ?
maybe it may retrace but its not doing that today...so got to be careful...
u cant enter in middle...as its too complicated now..had to enter when lags are in agreement
  • #2,680
  • Oct 22, 2007 6:59am Oct 22, 2007 6:59am
looks to be a reversal sign..US open is very close..so enter at ur own risk
watch those shadows of candle...price seems to have bounced
Attached Image (click to enlarge)
Click to Enlarge Name: reversal.gif Size: 22 KB
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