Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait | Page 225 | Forex Factory

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

  • #4,481
  • Edited 8:35pm Nov 20, 2007 8:00pm | Edited 8:35pm
I'm looking at this flat Lag2 and diverging Lag1 sitting on the 200 MA in EURJPY; anyone following that one?
Things are a bit slow in the pre-Holiday trade it seems - figured I would post while I wait.
  • #4,482
  • Nov 20, 2007 9:52pm Nov 20, 2007 9:52pm
Quoting Alexandra
I'm looking at this flat Lag2 and diverging Lag1 sitting on the 200 MA in EURJPY; anyone following that one?
Things are a bit slow in the pre-Holiday trade it seems - figured I would post while I wait.
Yes, I am looking at it for a long time. I missed the down move that happened after 2300 GMT. Half hour earlier I entered a short with extreeemly tight SL and was kicked out and was away when the move started.

Then it looked like there was a breakdown around 200 GMT. I was not sucked in to that! Then there is this slow down move going which is difficult to make a decision on. So, nothing much so far.

May be it is going to be a double bottom. Some upmove chance is there. We have to wait for signal. Or I may be just sleep!

chandra
  • #4,483
  • Nov 20, 2007 10:07pm Nov 20, 2007 10:07pm
Yes, the coiling seems to be breaking down the setup a bit; maybe bed is the proper trade.
  • #4,484
  • Nov 20, 2007 10:21pm Nov 20, 2007 10:21pm
Hi..watch the nikkei when trading asian session as there seems to be a tightening during the asian lunch hr and than move afterwards...i'm learning to correlate the nikkei with the yen pairs..after two weeks..there seems to be a movement before the lunch hr and after heading into the opening of the european markets...also as Twolf has stated start watching commodity prices..such as gold and oil...yen pairs as Twolf has stated react to stock market. I'll expund on this more as I go back threw nikkei and euro stock trading times and see how it effects currency pairs.

Cheers and many pips!

Chris
Push yourself to your fullest potential!!
  • #4,485
  • Nov 21, 2007 12:29am Nov 21, 2007 12:29am
Salam Imran,
Am Abd-Hammed,pls can you give me your email address,iam really intrested in LISPA but am really new to this.
  • #4,486
  • Nov 21, 2007 2:51am Nov 21, 2007 2:51am
Pls kindly help me am realy intrested but i dont know how to set it up and how to attach it pls
  • #4,487
  • Nov 21, 2007 3:01am Nov 21, 2007 3:01am
Quoting holubello
Pls kindly help me am realy intrested but i dont know how to set it up and how to attach it pls
Hi

Have you doenloaded the indicator to metatrader?

If so you should make sure the file is in the indicator folder contained in the 'expert' folder.

After that just switch of metatrader then switch it back on again and load the indicator onto your chart from the custom indicator button on the tool bar.
  • #4,488
  • Nov 21, 2007 3:31am Nov 21, 2007 3:31am
Hi guys and girls. Interesting short in the GJ over the last couple of hours. Entry was signaled just after solid red line.
My question is, was it a valid entry as the LAG slow was down low and never made it above 15 ish?
Opinions appreciated.
regards,

D.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp usd m15.gif Size: 28 KB
where thought goes energy flows
  • #4,489
  • Nov 21, 2007 4:02am Nov 21, 2007 4:02am
Quoting Damo12
Hi guys and girls. Interesting short in the GJ over the last couple of hours. Entry was signaled just after solid red line.
My question is, was it a valid entry as the LAG slow was down low and never made it above 15 ish?
Opinions appreciated.
regards,

D.
yes, valid entry
1. 60 and 200 Ema trending downwards
2. price below Daily Pivot
3. Overall trend bearish
it woiuld have been a good ride down for more then 200 pips
  • #4,490
  • Nov 21, 2007 5:58am Nov 21, 2007 5:58am
Is anyone else taking this long? I know that we're below the daily pivot, but is there a possible re-trace to the 50 fib of the last down move?

Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: long.gif Size: 22 KB
  • #4,491
  • Nov 21, 2007 6:17am Nov 21, 2007 6:17am
Quoting RVD
Is anyone else taking this long? I know that we're below the daily pivot, but is there a possible re-trace to the 50 fib of the last down move?

Thanks
I missed out on that one, Usually after the big drops this pair stays in the low and usually bounces with small moves, therefor I didn't feel it as a safe trade, even if the indicators lined up. But as posted here many times, you miss out on some OK trades if it doesn't feel okey..
  • #4,492
  • Nov 21, 2007 6:18am Nov 21, 2007 6:18am
Quoting imransait
yes, valid entry
1. 60 and 200 Ema trending downwards
2. price below Daily Pivot
3. Overall trend bearish
it woiuld have been a good ride down for more then 200 pips
I caught the beginning of this trade at 12:30 EST this morning. I closed it at about 5:30 EST with about +230 pips. when I left for work. Sweet.
  • #4,493
  • Nov 21, 2007 6:19am Nov 21, 2007 6:19am
Quoting RVD
Is anyone else taking this long? I know that we're below the daily pivot, but is there a possible re-trace to the 50 fib of the last down move?

Thanks
I missed this long entry, so I have my eyes on a continuation of the downtrend after this retracement. It's hit the 60EMA, so it might be stall around there. Of course it might as well go up more, but as soon as I get a short signal, I'll go with the trend.
  • #4,494
  • Nov 21, 2007 6:24am Nov 21, 2007 6:24am
Quoting LazyPip
I missed this long entry, so I have my eyes on a continuation of the downtrend after this retracement. It's hit the 60EMA, so it might be stall around there. Of course it might as well go up more, but as soon as I get a short signal, I'll go with the trend.
My Thought also, but I will be very careful, as GJ already have made a great drop for the day, and could be there's no more room on the downside. Ideal scenario would be a fast sell, and a new buy for a longer retracement.
  • #4,495
  • Nov 21, 2007 6:28am Nov 21, 2007 6:28am
Quoting frankiev2
My Thought also, but I will be very careful, as GJ already have made a great drop for the day, and could be there's no more room on the downside. Ideal scenario would be a fast sell, and a new buy for a longer retracement.
Indeed, I believe that if the price falls, it might find Daily S2 at around 222.50 a good place to sit and decide what it wants to do, since it already stopped there in the initial fall.
  • #4,496
  • Edited 8:17am Nov 21, 2007 7:44am | Edited 8:17am
Quoting imransait
yes, valid entry
1. 60 and 200 Ema trending downwards
2. price below Daily Pivot
3. Overall trend bearish
it woiuld have been a good ride down for more then 200 pips
A have a question
If 60 and 200 Ema trending downwards we could do the sell
and
If 60 and 200 Ema trending upwards we could do the buy

Am I correct?

Is it okay if we take position against/opposite with the EMA's trend?
What will be happen if the price touched the Ema(s)?
(I'm new in forex)

WisBiz
  • #4,497
  • Nov 21, 2007 8:21am Nov 21, 2007 8:21am
Quoting WisBiz
A have a question
If 60 and 200 Ema trending downwards we could do the sell
and
If 60 and 200 Ema trending upwards we could do the buy

Am I correct?

Is it okay if we take position against/opposite with the EMA's trend?
(I'm new in forex)

WisBiz

Just like Imran posted above, there where multi reason why he would of taken the trade (very safe trade)... U must fallow the rules that he wrote and trial error some and next u know it u will be winning all your trades u take.

Plz sense u r new to FX, read over all the basic things in FX, if u need help I will point u in the correct direction. I also suggest that u read over his PDF file multi times, and look through the history of this topic. Everything is really all self explain, U just gotta read.
Life is a game, play it well, their is no restart!
  • #4,498
  • Nov 21, 2007 8:40am Nov 21, 2007 8:40am
hi guys great thread.I am a newbie to forex,so can anybody tell me whether we can use the same settings on the 15 min chart as we are using on the 5 min chart to trade,thanks for your help.
  • #4,499
  • Nov 21, 2007 9:05am Nov 21, 2007 9:05am
Quoting destroyer
hi guys great thread.I am a newbie to forex,so can anybody tell me whether we can use the same settings on the 15 min chart as we are using on the 5 min chart to trade,thanks for your help.
I believe you can, but the Lag indicators on the 15m will not give as many entry positions as the 5min. Additionally I believe your stop may have to be bigger than the 25 pip plus spread for the 5min. As the lower tme frames give you a better entry.

This is what you may have to find out for yourself as I am still learning as well.

Anyone else care to elaborate?
Le singe est dans l'arbre
  • #4,500
  • Nov 21, 2007 10:16am Nov 21, 2007 10:16am
Thanks Imran for the update this week end, I like it a lot.

In response of your post a few days ago I'm stiil doing good and yes I will post some charts (just have to think taking a screen shot!!)

Al
AL
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