Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait | Page 209 | Forex Factory

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Indicators and Rules for Simple Method of Scalping GBP/Jpy on 5 min chart 18 replies

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

  • #4,161
  • Nov 6, 2007 10:23am Nov 6, 2007 10:23am
Quoting orion70
Can't seem to add the bands to the 200EMA, though. Not sure why they aren't showing up on the charts.
Colour setting?
  • #4,162
  • Nov 6, 2007 11:07am Nov 6, 2007 11:07am
Please someone says to me where I have mistaken, so that I can learn. According to me the rules have been respected, but mine stop it has been hit.: (
Attached Image (click to enlarge)
Click to Enlarge Name: GBP_JPY.JPG Size: 114 KB
  • #4,163
  • Edited 12:49pm Nov 6, 2007 12:33pm | Edited 12:49pm
Quoting AlbyM
Please someone says to me where I have mistaken, so that I can learn. According to me the rules have been respected, but mine stop it has been hit.: (
Hi Alby,

The simplest thing is not to go against the 20-SMA (middle Bollinger band). Price crossing it is not enough. When that MA is moving down, take only shorts. When it is moving up, take only longs. Either wait for such direction change for the MA after signal or pass up the conflicting signal and wait for next signal with agreement.

In addition, the green MA (is it 60-EMA) acted as support three times and resistance once before within this chart time. That acted as resistance again. So, if you took a position, that would have been where to take profit.

chandra
  • #4,164
  • Edited 1:01pm Nov 6, 2007 12:48pm | Edited 1:01pm
hmmm, really tuff break for you on that one. i hope u didnt over risk. in a strong up mkt, may have been able to eek out some profit. thing is right now, that even tho the overall trend is still up, the mkt is kind of in a PB mode and consolidating.

you ended up getting caught near the end of a retracement wave (B to C) and buying/selling in the middle of a PB range is tuff.

sometimes even when all the signals line up, things dont work out. Unfortunately, you dont realize these until after the fact.

PB and consolidation periods can be tuff.
I also like to watch price action for some additional clues.

Periods like this where mkt direction is not fully clear, you can take a peak at the higher TF to give an idea and look at red lag on nxt highest TF.

Nothing will work everytime. its all part of trading.
Ultimately, Risk Vs. Reward and MM will help to keep you ahead of the game.
Attached Image(s) (click to enlarge)
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  • #4,165
  • Edited 1:14pm Nov 6, 2007 12:51pm | Edited 1:14pm
Quoting achandrasekaran99
Hi Alby,

The simplest thing is not to go against the 20-SMA (middle Bollinger band). Price crossing it is not enough. When that MA is moving down, take only shorts. When it is moving up, take only longs. Either wait for such direction change for the MA after signal or pass up that signal and wait for next.

In addition, the green MA (is it 60-EMA) acted as support three times and resistance once before within this chart time. That acted as resistance again. So, if you took a position, that would have been where to take profit.

chandra
Have you been in the chat room? I keep getting a statement telling me I can't post massages. Is that normal or is there something else I need to do?

Edit: I contacted Imran and I can post now. Thank you . . . .

Thanks and happy pipping,
Fx Diva
  • #4,166
  • Nov 6, 2007 1:12pm Nov 6, 2007 1:12pm
yes very ez and clean observation. pay attention to slope and direction of the mid BB and price closes above OR below the mid BB.

thx Chandra

Quoting achandrasekaran99
Hi Alby,

The simplest thing is not to go against the 20-SMA (middle Bollinger band). Price crossing it is not enough. When that MA is moving down, take only shorts. When it is moving up, take only longs. Either wait for such direction change for the MA after signal or pass up the conflicting signal and wait for next signal with agreement.

In addition, the green MA (is it 60-EMA) acted as support three times and resistance once before within this chart time. That acted as resistance again. So, if you took a position, that would have been where to take profit.

chandra
  • #4,167
  • Nov 6, 2007 2:45pm Nov 6, 2007 2:45pm
Just curious what other think about this?
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Click to Enlarge Name: eurjpy1hr.gif Size: 21 KB
  • #4,168
  • Nov 6, 2007 2:46pm Nov 6, 2007 2:46pm
Quoting achandrasekaran99
Hi Alby,

The simplest thing is not to go against the 20-SMA (middle Bollinger band). Price crossing it is not enough. When that MA is moving down, take only shorts. When it is moving up, take only longs. Either wait for such direction change for the MA after signal or pass up the conflicting signal and wait for next signal with agreement.

In addition, the green MA (is it 60-EMA) acted as support three times and resistance once before within this chart time. That acted as resistance again. So, if you took a position, that would have been where to take profit.

chandra
Thanks so much
  • #4,169
  • Nov 6, 2007 3:55pm Nov 6, 2007 3:55pm
which broker gives the best spread on GBP/JPY???
Don't chase the market, Let the market come to you
  • #4,170
  • Nov 6, 2007 3:57pm Nov 6, 2007 3:57pm
Quoting Tw0eleven
Just curious what other think about this?
I'm long and so are as few of the EA's I run, have been since a few hours ago
Don't chase the market, Let the market come to you
  • #4,171
  • Nov 6, 2007 4:10pm Nov 6, 2007 4:10pm
Thanks Tmac...and I got your PM!

Quoting Tmac
I'm long and so are as few of the EA's I run, have been since a few hours ago
  • #4,172
  • Edited 6:09pm Nov 6, 2007 5:45pm | Edited 6:09pm
att

165.01 - is actually Monthly Pvt
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  • #4,173
  • Nov 6, 2007 9:12pm Nov 6, 2007 9:12pm
Hei, has anyone try this method using longer TF, say M30 OR H1. Does the method applied. Tq for your respond
  • #4,174
  • Nov 6, 2007 11:56pm Nov 6, 2007 11:56pm
Is anyone here using the laguerre rsi v 1.00 for the alerts?
I only started using it but it sure seems handy for a heads up if you want to watch multiple pairs.
It gives you both a visual dot on the chart when the lag crosses a message apears saying which pair just crossed and you get a sound alert. The indicator is posted in the files section for this thread.
  • #4,175
  • Nov 7, 2007 12:57am Nov 7, 2007 12:57am
Quoting behof
Hi Folks !

I hope you made a lot of pips since yesterday
I've attached a snapshot of the USD/JPY pair watching three
timeframes => 1h, 15min, 5min chart.

You clearly can see that if all three lags are matching together, we have
a nice move .....

This requires a lot of patience and discipline !!

But the reward pays more than twice your effort...

By the way concentrate on ONE pair only and trade by using the
multitimeframe approach !!

Greetings and happy pippin

Bernhard
Hi Bernhard,

Just want to ask about your approach.. do you wait for all the three time frame to give the same signal? and enter on tf 5 min?
how's the result of these so far...
I am going to test out yr method soon.
is there any additional indis since have not post lately.....

thanks.
  • #4,176
  • Nov 7, 2007 7:47am Nov 7, 2007 7:47am
Quoting Tmac
which broker gives the best spread on GBP/JPY???

The best I've found is ODL with 6 pips spread on MT4 platform.

AL
AL
  • #4,177
  • Nov 7, 2007 9:20am Nov 7, 2007 9:20am
Clear action again - M3 held the overnight action, sold off to under M2 and bounced back up to DP, another small sell and bounce to under DP before the 150 pip drop to a quadruple confluence...S2, Mondays Low, a 100 level and lower 200ema band....some support......some bounce - 160+
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Trading Levels with WRBs
  • #4,178
  • Edited 2:20pm Nov 7, 2007 9:29am | Edited 2:20pm
Yes I use it too, I overlay another v 1.00 over the same Lag with the same gamma,, but with the levels set at 0.45, so it gives you an alert when it crosses the midline as somethimes the lag crosses back and forth over the 0.85 and 0.15 levels, the break of 0.45 sometimes confirms lag direction.

Quoting randomlight
Is anyone here using the laguerre rsi v 1.00 for the alerts?
I only started using it but it sure seems handy for a heads up if you want to watch multiple pairs.
It gives you both a visual dot on the chart when the lag crosses a message apears saying which pair just crossed and you get a sound alert. The indicator is posted in the files section for this thread.
  • #4,179
  • Nov 7, 2007 10:31am Nov 7, 2007 10:31am
great job!
  • #4,180
  • Edited Nov 8, 2007 3:11am Nov 7, 2007 10:39am | Edited Nov 8, 2007 3:11am
xls attached
Attached File(s)
File Type: xls abbreviation codes v1.xls   18 KB | 585 downloads
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