Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait | Page 154 | Forex Factory

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

  • #3,061
  • Oct 24, 2007 1:40am Oct 24, 2007 1:40am
Quoting fx_ninja
Imran, which alert for the arrows do you prefer?
LISPA1 is good..so is mt4 stop level reverse , try both at same and take trades if both agree and if lags also are following them
  • #3,062
  • Oct 24, 2007 1:42am Oct 24, 2007 1:42am
ok, thx
  • #3,063
  • Oct 24, 2007 1:47am Oct 24, 2007 1:47am
watch how price tests the daily pivot and goes down, if i dont have these pivot lines plotted, i would miss on on whole bunch of trades
Attached Image (click to enlarge)
Click to Enlarge Name: 5min.gif Size: 27 KB
  • #3,064
  • Oct 24, 2007 1:47am Oct 24, 2007 1:47am
last PB was for re-shorting or adding
  • #3,065
  • Oct 24, 2007 1:51am Oct 24, 2007 1:51am
covered the add.
  • #3,066
  • Oct 24, 2007 2:05am Oct 24, 2007 2:05am
I-

Your initial trade today was a short above the daily pivot so it's alittle confusing!
  • #3,067
  • Oct 24, 2007 2:09am Oct 24, 2007 2:09am
Quoting jpforex
I-

Your initial trade today was a short above the daily pivot so it's alittle confusing!
the setup on 1 min to 15m chart was bearish..so i had to take that short...and right now...its almost +150 from the short i had taken from 235.20 area
  • #3,068
  • Oct 24, 2007 2:10am Oct 24, 2007 2:10am
Quoting imransait
i would be careful, as price is below daily pivot and trend is very strong bearish..we will see 233 before US Opens...london will take it there

Post a chart so we can see if ur trade is correct

attached is a 15min chart
guys..i take back my words...we will not see 233 by US Open..we will see 232 lol
  • #3,069
  • Oct 24, 2007 2:14am Oct 24, 2007 2:14am
[quote=imransait;1675297]always give higher preference to red lag as the moves on this lag are powerful and always the trade goes with this lag

below is a 1 min chart trade, if u keep ur eyes open to these kind of trades u can close ur trading day with 50-60 pips in just 30 mins and take the rest of the day off

hi Imran,
1. Red lag: when you say that we have to give higher preference to the red lag, in which TF are you referrering?
2. is this a modification of your method for the future ?(before you have advised that green is to enter with the red lag confirming, and the red lag for exit)?
3.what would be the function of the green lag in the future?
  • #3,070
  • Oct 24, 2007 2:16am Oct 24, 2007 2:16am
Quoting imransait
guys..i take back my words...we will not see 233 by US Open..we will see 232 lol
time to enter a short in GBP/JPY or is too late?
  • #3,071
  • Oct 24, 2007 2:24am Oct 24, 2007 2:24am
[quote=argentrad;1675431]
Quoting imransait
always give higher preference to red lag as the moves on this lag are powerful and always the trade goes with this lag

below is a 1 min chart trade, if u keep ur eyes open to these kind of trades u can close ur trading day with 50-60 pips in just 30 mins and take the rest of the day off

hi Imran,
1. Red lag: when you say that we have to give higher preference to the red lag, in which TF are you referrering?
2. is this a modification of your method for the future ?(before you have advised that green is to enter with the red lag confirming, and the red lag for exit)?
3.what would be the function of the green lag in the future?
that info was for those kind of setups, apart from the regular rules, so as not to miss on good trades..this is on 5min and 1min setup only

red lag is still used for exit

blue lag still is for entries and will continue till any new update
  • #3,072
  • Oct 24, 2007 2:24am Oct 24, 2007 2:24am
U/J

sometimes, depending on the setup, u can short to the pivot and see what it does; if it breaks .

mkt was kinda set to PB since the end of NY session. the asian session started kinda slow and was sideways w/SS bias. Oncce i got below the pivot and failed to break back above the pivot, mkt startd to pickup momo to the downside.

Quoting jpforex
I-

Your initial trade today was a short above the daily pivot so it's alittle confusing!
  • #3,073
  • Oct 24, 2007 2:25am Oct 24, 2007 2:25am
bounce soon?
Attached Image (click to enlarge)
Click to Enlarge Name: gbp_jpy.gif Size: 19 KB
  • #3,074
  • Oct 24, 2007 2:32am Oct 24, 2007 2:32am
nice drop on the E/U
  • #3,075
  • Oct 24, 2007 2:35am Oct 24, 2007 2:35am
This is a nice set up for a short on the Gbp/Jpy on a 1M chart. Both lags and stochastic lined up nicely. We had a double top formed as price could not break daily pivot. Will just keep locking profits as price tumbles down and down and down......
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy 1m.gif Size: 26 KB
  • #3,076
  • Oct 24, 2007 2:43am Oct 24, 2007 2:43am
yeah, when u get a dbl top like that with good space in between the 2 tops = good move comin
  • #3,077
  • Oct 24, 2007 3:05am Oct 24, 2007 3:05am
Could be another short opportunity coming up if you missed the last one!
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy2.gif Size: 24 KB
  • #3,078
  • Oct 24, 2007 3:07am Oct 24, 2007 3:07am
Quoting fx_ninja
yeah, when u get a dbl top like that with good space in between the 2 tops = good move comin

what about this set up for a long? (for scalping)
Attached Image (click to enlarge)
Click to Enlarge Name: long.gif Size: 54 KB
  • #3,079
  • Oct 24, 2007 3:10am Oct 24, 2007 3:10am
open trade GBP/JPY @ 234.86 (yesterday)...(SELL)

still wait best time to exit...gain more than +70 pips
  • #3,080
  • Oct 24, 2007 3:12am Oct 24, 2007 3:12am
Quoting thunderwolf
Could be another short opportunity coming up if you missed the last one!
all lags and stoch also in agreement, will be a good scalp..may turn out to be a 100 pip trade
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