Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait | Page 168 | Forex Factory

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

  • #3,341
  • Oct 25, 2007 3:46am Oct 25, 2007 3:46am
anyone think we have room for the g/j and e/j to still go up or are we at a top???
  • #3,342
  • Oct 25, 2007 3:52am Oct 25, 2007 3:52am
Quoting Tw0eleven
anyone think we have room for the g/j and e/j to still go up or are we at a top???
Boy, kind of finding a lot of support at the BB20ma so could bounce on the otherhand my ADX is telling me she won't take out the prior high. So not too sure at the moment. I already took a short at 233.99, she's moving now.
PipHunter
  • #3,343
  • Oct 25, 2007 4:08am Oct 25, 2007 4:08am
The more times the BB20ma repels the price the better your chances of more to the upside plus the lag2 on the 15m chart hasn't completed it's return trip north just yet. My short trade is getting decent help from the pivot though,which I was hoping for.
PipHunter
  • #3,344
  • Oct 25, 2007 4:11am Oct 25, 2007 4:11am
This is what Alpari just sent me:

Quote
We inform you that your demo account is provided by Alpari Ltd. for free for an indefinite period (if you trade your demo account at least once every three months).
Apparently, NorthFinance is not the only one offering indefinite demo accounts. Just wanted to let you know. I use a demo feed for my charting, order execution is placed at Oanda...


enjoy
Ohka
  • #3,345
  • Oct 25, 2007 4:14am Oct 25, 2007 4:14am
I've been long e/j since 163...just moved up my stoploss on that last spike up, now it's a free ride! Not sure if you are still in your short g/j...if so, hope it comes back down for you!

Quoting Pip Hunter
The more times the BB20ma repels the price the better your chances of more to the upside plus the lag2 on the 15m chart hasn't completed it's return trip north just yet. My short trade is getting decent help from the pivot though,which I was hoping for.
  • #3,346
  • Oct 25, 2007 4:15am Oct 25, 2007 4:15am
Quoting Pip Hunter
The more times the BB20ma repels the price the better your chances of more to the upside plus the lag2 on the 15m chart hasn't completed it's return trip north just yet. My short trade is getting decent help from the pivot though,which I was hoping for.
Do not hope for anything in this market, its very brutal..take it only when the rules are met and the chart indicates a turn...thats why if ur in it short term..its important that u look at 1min,5min and 15min to see the current short term trend...the daily pivot may still save u the day , be careful next time
  • #3,347
  • Oct 25, 2007 4:19am Oct 25, 2007 4:19am
Hi Guys
From Nov 1st, i will open a skype chat room where there will be 24hr live trading by some experienced traders and myself, i would like those who are in Asian Zone, London Zone and US Zone to pm me

I will post the chat link here if its ok by the Admin or send by email to all
  • #3,348
  • Oct 25, 2007 4:24am Oct 25, 2007 4:24am
Quoting imransait
Hi Guys
From Nov 1st, i will open a skype chat room where there will be 24hr live trading by some experienced traders and myself, i would like those who are in Asian Zone, London Zone and US Zone to pm me

I will post the chat link here if its ok by the Admin or send by email to all
...
  • #3,349
  • Oct 25, 2007 4:25am Oct 25, 2007 4:25am
I was wondering if you trade often one of the setups shown on post 1 by BFried? On the second chart, trades 1 & 3.The setup is where both Lags are say flat at the top. Lag1 dives south beyond the .45, sometimes all the way to the other side mark and enter on the return back across the .45 (which is where you enter) to rejoin the Lag2 which is still flat at the top?

Sometimes it just seems hard to be sure price isn’t going to fake you out by continuing through the BB20ma after it does a bit of mild consolidating around that area. You would obviously have to try and make sure price is committed to going in one of the directions which means giving up some pips. I’ve been burned a few times because of not being patient enough. And I was wondering how other traders were doing with this setup.

If price is moving swiftly one direction, I assume you can drop down to the 1m to gain an entry sooner than waiting for one on the 5m?
PipHunter
  • #3,350
  • Oct 25, 2007 4:36am Oct 25, 2007 4:36am
Quoting imransait
Hi Guys
From Nov 1st, i will open a skype chat room where there will be 24hr live trading by some experienced traders and myself, i would like those who are in Asian Zone, London Zone and US Zone to pm me

I will post the chat link here if its ok by the Admin or send by email to all



For some reason, I can´t post you a PM. Imran can u post me the link? my mail is [email protected]. Thanks a lot!
  • #3,351
  • Edited May 13, 2009 12:05am Oct 25, 2007 4:51am | Edited May 13, 2009 12:05am
I can't pm you either. Please see if it's possible to send me the name of the chatroom I can join.

Thanks in advance,
  • #3,352
  • Edited May 13, 2009 12:05am Oct 25, 2007 4:58am | Edited May 13, 2009 12:05am
Quoting vinividivici
I can't pm you either. Please see if it's possible to send me the name of the chatroom I can join.

Thanks in advance,

  • #3,353
  • Oct 25, 2007 4:58am Oct 25, 2007 4:58am
I found out something very interesting when I combined my 2 laguerre indicators. Perhaps someone may have noticed the same thing. When I combined the two and I would get different readings if I had the chart reduced in size compared to when it was maximized and filling the entire screen. So by taking note of the indicators exact locations when the chart is minimized and compared to when enlarged will help detect whether there is a difference with yours aswell. I made numerous entries based on wrong information. I was just wondering if anyone else may have noticed the same thing. If there is a way to correct the problem, I’d sure like to know how. Thanks!
PipHunter
  • #3,354
  • Oct 25, 2007 4:59am Oct 25, 2007 4:59am
Quoting Pip Hunter
The more times the BB20ma repels the price the better your chances of more to the upside plus the lag2 on the 15m chart hasn't completed it's return trip north just yet. My short trade is getting decent help from the pivot though,which I was hoping for.
Hi PipHunter, when you say BB20MA is that the same as the middle line of the Bollinger Bands (what I heard to be called the Basis Line?) Just wanna check so I'm on the same page with you...or does it refer to the upper or lower BB...

thanks
  • #3,355
  • Oct 25, 2007 5:04am Oct 25, 2007 5:04am
Quoting Ann
Hi PipHunter, when you say BB20MA is that the same as the middle line of the Bollinger Bands (what I heard to be called the Basis Line?) Just wanna check so I'm on the same page with you...or does it refer to the upper or lower BB...

thanks
Yes the centerline, so it's called the Basis line. Thanks for that.
PipHunter
  • #3,356
  • Oct 25, 2007 5:08am Oct 25, 2007 5:08am
Hey Ann.

What do you think about the question I posed at post #3350? You've been doing pretty well with this system right? So I was wondering if you use that type of entry much?
PipHunter
  • #3,357
  • Oct 25, 2007 5:09am Oct 25, 2007 5:09am
Quoting Pip Hunter
Yes the centerline, so it's called the Basis line. Thanks for that.

  • #3,358
  • Oct 25, 2007 5:17am Oct 25, 2007 5:17am
Man, this market is like watching paint dry
  • #3,359
  • Oct 25, 2007 5:20am Oct 25, 2007 5:20am
I'll take a look at your response in a couple of hours. I have to grab some sleeep real quick and be back. That is provided to get a chance to respond. Bye!
PipHunter
  • #3,360
  • Oct 25, 2007 5:20am Oct 25, 2007 5:20am
Hi guys,

I went long at 234.24 based on,
1. lag1 on 5m triggered an entry
2. lag2 on 15m was on half way heading up
3. 50ema on 30m chart seem supported well
4. ample volume is expected.

Please point out missing check-points.

P.S Since it's my first posts on the forum although i've been following the thread almost every day from page num was 72 or something,
I'd like to thank Imran for his elaborated answers and generousity and insightful contributions.
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