Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait | Page 156 | Forex Factory

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

  • #3,101
  • Oct 24, 2007 3:30am Oct 24, 2007 3:30am
S @ 37
  • #3,102
  • Oct 24, 2007 3:31am Oct 24, 2007 3:31am
waiting until i got the correect movement
Attached Image (click to enlarge)
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  • #3,103
  • Oct 24, 2007 3:32am Oct 24, 2007 3:32am
s @ 40. target 90
  • #3,104
  • Oct 24, 2007 3:34am Oct 24, 2007 3:34am
take some prof here.
  • #3,105
  • Oct 24, 2007 3:34am Oct 24, 2007 3:34am
What pair are you speaking of?

Quoting fx_ninja
s @ 40. target 90
  • #3,106
  • Oct 24, 2007 3:36am Oct 24, 2007 3:36am
if that was your first short then that is the problem. if u have been shorting all nite, then no big deal. mkt will retrace, reverse, etc...

3 steps fwd, 2 stepsback.

Just DONT over-risk.

Quoting Tw0eleven
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.
  • #3,107
  • Oct 24, 2007 3:36am Oct 24, 2007 3:36am
waiting for sell , M1
  • #3,108
  • Oct 24, 2007 3:36am Oct 24, 2007 3:36am
Quoting imransait
the 15min chart , the price bounced off the 200 EMA, was a good entry point to go long..but also check..the red lag was coming down...so dangerous to take a trade against the trend...as long as price is below daily pivot..always look for short trade setup unless red lag in 5min and 15min shows uptrend
Ah, I see what you mean, the 1M and 15M red lag was pointing down, and I was going long while under the Daily Pivot... wont make that mistake again...Thx Imran
  • #3,109
  • Oct 24, 2007 3:38am Oct 24, 2007 3:38am
if u didnt exit remainder @ 40, protect your profit and dont give it all back.
  • #3,110
  • Oct 24, 2007 3:39am Oct 24, 2007 3:39am
1min short trade on
Attached Image (click to enlarge)
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  • #3,111
  • Oct 24, 2007 3:40am Oct 24, 2007 3:40am
It was my first trade of the night because I was at work during the Asian session. Not a pleasant way to start off the trading day...already in a hole! Didn't over-risk though.

Quoting fx_ninja
if that was your first short then that is the problem. if u have been shorting all nite, then no big deal. mkt will retrace, reverse, etc...

3 steps fwd, 2 stepsback.

Just DONT over-risk.
  • #3,112
  • Oct 24, 2007 3:40am Oct 24, 2007 3:40am
Quoting felipeds
waiting for sell , M1
I am shorting now 234.34
  • #3,113
  • Oct 24, 2007 3:43am Oct 24, 2007 3:43am
Hi Imransait, how come you didn't go short at the first Lag1 crossing down? Approximately at the 24 Oct. 1100 time period on your chart??? That's where I went short because of Lag1 and price meeting resistance on the 200ema.

Quoting imransait
1min short trade on
  • #3,114
  • Oct 24, 2007 3:44am Oct 24, 2007 3:44am
why does market bounce like that?

1. some profit taking
2. MM cover shorts to run mkt back up to a key level and shake weak shorts / late birds then re-enter to push back down
3. OR Reversal
  • #3,115
  • Oct 24, 2007 3:45am Oct 24, 2007 3:45am
Quoting imransait
1min short trade on
Imran,

You use 0.9 level in red lag?
  • #3,116
  • Oct 24, 2007 3:49am Oct 24, 2007 3:49am
Waiting alignment for new sell..
Attached Image (click to enlarge)
Click to Enlarge Name: gbp_jpy_1.gif Size: 21 KB
  • #3,117
  • Oct 24, 2007 3:52am Oct 24, 2007 3:52am
What they think? red lag already it crossed !
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  • #3,118
  • Oct 24, 2007 4:01am Oct 24, 2007 4:01am
Quoting Tw0eleven
It was my first trade of the night because I was at work during the Asian session. Not a pleasant way to start off the trading day...already in a hole! Didn't over-risk though.
reasons
1. Bollinger bands were narrow, waiting for breakout
2. both the lags and the stoch were not in agreement
3. i was not on my pc, but still would not have taken the trade
  • #3,119
  • Oct 24, 2007 4:02am Oct 24, 2007 4:02am
Quoting felipeds
Imran,

You use 0.9 level in red lag?
no, i use 0.85 in red lag
  • #3,120
  • Oct 24, 2007 4:05am Oct 24, 2007 4:05am
Price action a bit stale at the moment....was hoping for the short on the 5 min but no candle close under middle Boll band on EUR/JPY...we'll see
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