GBPJPY scalpers

Quoting malcolmb14

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NIKKEI +290
dj futures +60

Support on 38.2 % at 211.18

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Quoting Scotty B

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I've transfered this from the auslanco thread: I'm playing off the 5min charts. It's funny though because I'm very successful making 200+ pips off of five minute swing cycles. This is every couple days too! So bye bye auslanco hour traders!

I've got two targets on my chart for GBPJPY. There are many places where she is signaling a move south, conservatively to 209.92. There are far fewer signals of a move up, but I have found one legitimate one that is headed to 211.29 conservatively.
The price is closer to the upper end. I will probably wait to see where she goes first and trade accordingly. Sell @ 211.29 TP 209.92, or buy @ 209.92 TP 211.29.
hedging would also be good now since we are in the middle. TP at one of the two targets and then add to the other position. I hope that makes sense.
We'll see!

Since I posted this earlier we saw a break of the 211.29, what she broke there was the 1.25 but didn't touch the 1.382 which will be the new upper target @ 211.40. If 211.40 is a breach then go to 211.60.

Thank you for starting this thread.

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Quoting Scotty B

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I've transfered this from the auslanco thread: I'm playing off the 5min charts. It's funny though because I'm very successful making 200+ pips off of five minute swing cycles. This is every couple days too! So bye bye auslanco hour traders!

I've got two targets on my chart for GBPJPY. There are many places where she is signaling a move south, conservatively to 209.92. There are far fewer signals of a move up, but I have found one legitimate one that is headed to 211.29 conservatively.
The price is closer to the upper end. I will probably wait to see where she goes first and trade accordingly. Sell @ 211.29 TP 209.92, or buy @ 209.92 TP 211.29.
hedging would also be good now since we are in the middle. TP at one of the two targets and then add to the other position. I hope that makes sense.
We'll see!

Since I posted this earlier we saw a break of the 211.29, what she broke there was the 1.25 but didn't touch the 1.382 which will be the new upper target @ 211.40. If 211.40 is a breach then go to 211.60.

Thank you for starting this thread.

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Quoting malcolmb14

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I use rsi14 and 10,20 , 50 sma .. that is it. I use fib extnsions and retracements as support / resistance zones.

Here is a typical chart .

Attachment


This is a 10 min chart as the longer time frames 10 min and 15 min ( lol .... not 60 mn , 2 hour etc) work a little better in quiet times like now.

See how the rsi came down thru 60 . The low of that bar was 211.21. Entry is 15 pips lower, at 211.06 , however as this was a fib extension of that 1-2-3 sell at 211.08 , so I entered trade at 211.90.

Now as long as rsi remains below 50 or price remains below 211.10 we consider this to be bearish.

Target 38.2 % fib at 210.82 , then 50% fib at 210.60

I do not often trade this time as there is little volatility in the markets. The best time is 4am to 9am Pacific as that is the overlap between the EURO and US markets.

I follow the NIKKEI225 , HANG SENG and dj-30 futures , all on esignal.

NIKKEI225 is 4 pm to 10 pm PST , lunch is 6 to 7:30 pm
HANG SEGN is 6 pm to 12 pm PST , lunch 8:30 to 10:30

Then FTSE100 is midnight pst to 8 am Pacific or you can follow the DAX.

Then USA markets.....

It is amazing to watch the indexes and gbpjpy move up and down hand in hand. There is no disconnect yet.

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Quoting bogus

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Hey Malcomb, could you give us a run through of your system; i.e how do you use your sma to help with your trades?
Cheers

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