Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait | Page 155 | Forex Factory

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

  • #3,081
  • Oct 24, 2007 3:12am Oct 24, 2007 3:12am
att
Attached Image (click to enlarge)
Click to Enlarge Name: uj 004 clean 15 min sig.jpg Size: 290 KB
  • #3,082
  • Oct 24, 2007 3:13am Oct 24, 2007 3:13am
Quoting bogel
open trade GBP/JPY @ 234.86 (yesterday)...(SELL)

still wait best time to exit...gain more than +70 pips
Move SL to 234.50 and wait till it hits 233, exit 50% of ur trade and let is go down...move SL as u move down
  • #3,083
  • Oct 24, 2007 3:14am Oct 24, 2007 3:14am
this long is more likely for a retracement
cuz it is COUNTER TREND
so u can scalp if u r quik and u know how to risk.
can scalp it if u r experienced to protectyour profit from the SS.


Quoting argentrad
what about this set up for a long? (for scalping)
  • #3,084
  • Oct 24, 2007 3:14am Oct 24, 2007 3:14am
Quoting argentrad
what about this set up for a long? (for scalping)
not worth the risk to go long when its below daily pivot and the heavy bearish sentiment..wait for setup for short trade
  • #3,085
  • Oct 24, 2007 3:16am Oct 24, 2007 3:16am
if u bought, dont try to reach the sky
  • #3,086
  • Oct 24, 2007 3:16am Oct 24, 2007 3:16am
Quoting argentrad
what about this set up for a long? (for scalping)
Hi Argentrad,

That was an excellent set up for a long scalp. Hope you got some nice green pips out of it
  • #3,087
  • Oct 24, 2007 3:19am Oct 24, 2007 3:19am
signal in the 15min chart on gbpjpy to the upside @ around 234.00 but possible strong resistance @ s34.35 due to 200ema and 20ema of the bolinger band providing combine resistance. I reckon if it breaks above they could act as strong support, if not than another good fall could be on the cards
  • #3,088
  • Oct 24, 2007 3:21am Oct 24, 2007 3:21am
mkt may turn back down soon. if u bought, lock in or exit.
  • #3,089
  • Oct 24, 2007 3:24am Oct 24, 2007 3:24am
R @ 30, 40 for g/j
lock in
  • #3,090
  • Oct 24, 2007 3:24am Oct 24, 2007 3:24am
Quoting fx_ninja
mkt may turn back down soon. if u bought, lock in or exit.
it may retrace till 234.50-60 area and the rebound back down
  • #3,091
  • Oct 24, 2007 3:24am Oct 24, 2007 3:24am
I took the bait and went short on g/j at 234.01 based on the 1min chart. That was a lovely 35pips lost!!!

Quoting fx_ninja
mkt may turn back down soon. if u bought, lock in or exit.
  • #3,092
  • Oct 24, 2007 3:25am Oct 24, 2007 3:25am
if 45, brkn, then more upside
  • #3,093
  • Oct 24, 2007 3:25am Oct 24, 2007 3:25am
Quoting imransait
Move SL to 234.50 and wait till it hits 233, exit 50% of ur trade and let is go down...move SL as u move down
lost the signal...but T3 say still going down
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  • #3,094
  • Oct 24, 2007 3:28am Oct 24, 2007 3:28am
Quoting imransait
not worth the risk to go long when its below daily pivot and the heavy bearish sentiment..wait for setup for short trade
tks Imran, Thunderwolf and FX Ninja.
position closed below Daily Pivot, traded with profit, now awaiting the short set up.
  • #3,095
  • Oct 24, 2007 3:28am Oct 24, 2007 3:28am
ok...check list for the future. if u took the counter trend trade, did u:

1. already have profit from SS?
2. take the CT trade with reduced lots?
3. set a tite SL?



Quoting Tw0eleven
I took the bait and went short on g/j at 234.01 based on the 1min chart. That was a lovely 35pips lost!!!
  • #3,096
  • Oct 24, 2007 3:29am Oct 24, 2007 3:29am
S @ 30 for long CT scalp
  • #3,097
  • Oct 24, 2007 3:29am Oct 24, 2007 3:29am
Quoting rocwell
signal in the 15min chart on gbpjpy to the upside @ around 234.00 but possible strong resistance @ s34.35 due to 200ema and 20ema of the bolinger band providing combine resistance. I reckon if it breaks above they could act as strong support, if not than another good fall could be on the cards
Nice observation Rocwell,

Either we break above daily pivot or we have a triple top and another tumble down.
  • #3,098
  • Oct 24, 2007 3:29am Oct 24, 2007 3:29am
Quoting Tw0eleven
I took the bait and went short on g/j at 234.01 based on the 1min chart. That was a lovely 35pips lost!!!
how come u went for the trade..the stoch was still in positive territory
  • #3,099
  • Oct 24, 2007 3:30am Oct 24, 2007 3:30am
Quoting imransait
it may retrace till 234.50-60 area and the rebound back down
Imran is that calc based on the fact that 234.59 reresents the 200 period ma in the 5 min time frame?
  • #3,100
  • Oct 24, 2007 3:30am Oct 24, 2007 3:30am
Wasn't the trend down??? And I shorted to follow it.

I don't know what's with me lately...between yesterday and today I've had 13 trades and only 4 winners.

Quoting fx_ninja
ok...check list for the future. if u took the counter trend trade, did u:

1. already have profit from SS?
2. take the CT trade with reduced lots?
3. set a tite SL?
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