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GBPJPY scalpers

  • #201
  • Feb 28, 2008 3:07pm Feb 28, 2008 3:07pm
Quoting malcolmb14
trading plan worked awesome today .....sell fib breakdown at 210.55. i waited for rsi sell comfirmation , 210.35 was my entry. Closed 211.65

Could have got 100 pips .. but 70 better than kick in the rear end !!!
Whats the matter with me !!!

not 211.65 ... 209.65 lol

eyes seeing treble looking at to many charts today
Blogging daily now at www.volume.zone
  • #202
  • Feb 28, 2008 3:33pm Feb 28, 2008 3:33pm
A cycle started on the 15th of February, signaled a down run to 208.46. Then the price reversed, as everyone knows were are just now coming down from that bull trend. So I'm in short to 208.46, if 208.46 is breached then I stay in until 206.60.
  • #203
  • Feb 28, 2008 7:41pm Feb 28, 2008 7:41pm
I had a short trigger this morning ...

PIPAVIATOR took it also ...

I rode this one down for 175 pips....

all in all a 335 pip day using the rsi14 buy / sell triggers only.
Blogging daily now at www.volume.zone
  • #204
  • Feb 28, 2008 7:48pm Feb 28, 2008 7:48pm
Alright, I found another unfulfilled cycle. This one is headed to 204.48. She has fallen hard today already and will probably range for a while, but anyone who likes trading over a couple days, if you enter now, is 400 free pips. I think she'll rise though in the next couple of days putting this trade in a temporary DD, but if you wait until she raises a hundred pips or so JUMP, and take the 500! If she breaches the 2.25 then maintain your positions.
Stop losses are a waste of money!
The time frame I found this cycle in is a 4hour. I'm also attaching a day chart with a very important line we all need to pay attention to. I think she might bounce up a ways off of it.

I'm fibbing tonight...I like to back and fourth...Gann/fib,Gann fib...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: h40001.gif Size: 17 KB
Click to Enlarge Name: daynow.gif Size: 11 KB
  • #205
  • Feb 28, 2008 8:44pm Feb 28, 2008 8:44pm
I just noticed a repeating candle pattern on the day chart. Will she fall fast again???Feedback appreciated!
Attached Image (click to enlarge)
Click to Enlarge Name: similarangles.gif Size: 16 KB
  • #206
  • Feb 28, 2008 9:04pm Feb 28, 2008 9:04pm
Im looking at my 15min chart and can see some signs for a retrace back up, Im looking at around 209.20. Im very wary of longing though as i do feel it has some room to move down, everything is looking down, but yes after such a strong move yesterday, I do feel it needs to correct a little for another push down tonight (my time).

I will be watching the US markets carefully though (ie Dow futures etc) to try and guage when or if she is going to plummet down.. But being Friday (I hate trading Friday's) it could do anything. What is everyones opinion, two heads are better then one...lol

EDIT: 208.00 seems to be a mental resistance level as opposed to being real resistance, not sure though will have to play out the price action on this one though
  • #207
  • Feb 28, 2008 9:25pm Feb 28, 2008 9:25pm
Quoting totalpips
Im looking at my 15min chart and can see some signs for a retrace back up, Im looking at around 209.20. Im very wary of longing though as i do feel it has some room to move down, everything is looking down, but yes after such a strong move yesterday, I do feel it needs to correct a little for another push down tonight (my time).

I will be watching the US markets carefully though (ie Dow futures etc) to try and guage when or if she is going to plummet down.. But being Friday (I hate trading Friday's) it could do anything. What is everyones opinion, two heads are better then one...lol

EDIT: 208.00 seems to be a mental resistance level as opposed to being real resistance, not sure though will have to play out the price action on this one though

I think we will see a retracement to 208.7 only... maybe 209.

Here is how that 1-2-3 sell trigger I posted worked out.

As i mentioned in my post of this morning I mentioned if the price breaks the 76.4% finb typically we will test 138.2 ... I just did not know that it would be this fast

Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy.jpg Size: 207 KB
Blogging daily now at www.volume.zone
  • #208
  • Feb 28, 2008 9:45pm Feb 28, 2008 9:45pm
RSI is building, so the next fall can happen. How far will it go?
Seems to be off the charts...
The us news and the us market have to be neg for this fall to happen, otherwise this side of the triangle can't move that much.
The GBP has to breach the 2's again, the usd-jpy stays pretty flat and the gbp-jpy takes the dive. Is that the correct picture?
Fridays are funny when it comes to the market. Look at last Friday...
Down down down all day and in the last half hour, up by 1% or so.
What is a trader to do?
  • #209
  • Feb 29, 2008 12:40am Feb 29, 2008 12:40am
As I posted few days ago @FF: http://www.forexfactory.com/showpost...ostcount=63698


I believe that we are still in play with Daily H/S formation from our Very TOP @251.10. I am expecting GY to go in next month or two to visit 197.00 area.

As you can see after the break of TL of 217.76 we tested 2 times, but NEVER violated, which by my book is mean that our H/S formation is still in Play.

It is very interesting that from the top this is the second consolidation as you mentioned Scotty, and also on Daily chart apx same numbers of days, as the same numbers of Waves as well.. I am expecting another consolidation between Now and Bottom

Finally we are going to see in next future, but if something else doesn't happen with DOW, (some intervention) I am expecting our bottom @ 197.00

Also a lot of fundamental news are saying that investors - big companies in US and Outside are selling USD buying YEN, (to return Loans) and the major reason behind that is real estate industry in US. When investors are losing their interest to invest in Properties then they SELL. As we are in BEAR market Now, YEN (loans) AUD (Gold) and CAD (oil) are appreciating their values.
-------------------------------------------------------------------
Sorry Guys for spelling....
-------------------------------------------------------------------

http://doske.com/fx/snapshot-5.png



http://doske.com/fx/snapshot-4.png


Quoting Scotty B
I just noticed a repeating candle pattern on the day chart. Will she fall fast again???Feedback appreciated!
  • #210
  • Feb 29, 2008 5:08am Feb 29, 2008 5:08am
Quoting Piters
As I posted few days ago @FF: http://www.forexfactory.com/showpost...ostcount=63698


I believe that we are still in play with Daily H/S formation from our Very TOP @251.10. I am expecting GY to go in next month or two to visit 197.00 area.

As you can see after the break of TL of 217.76 we tested 2 times, but NEVER violated, which by my book is mean that our H/S formation is still in Play.

It is very interesting that from the top this is the second consolidation as you mentioned Scotty, and also on Daily chart apx same numbers of days, as the same numbers of Waves as well.. I am expecting another consolidation between Now and Bottom

Finally we are going to see in next future, but if something else doesn't happen with DOW, (some intervention) I am expecting our bottom @ 197.00

Also a lot of fundamental news are saying that investors - big companies in US and Outside are selling USD buying YEN, (to return Loans) and the major reason behind that is real estate industry in US. When investors are losing their interest to invest in Properties then they SELL. As we are in BEAR market Now, YEN (loans) AUD (Gold) and CAD (oil) are appreciating their values.
-------------------------------------------------------------------
Sorry Guys for spelling....
-------------------------------------------------------------------

http://doske.com/fx/snapshot-5.png



http://doske.com/fx/snapshot-4.png
Nice charting
Blogging daily now at www.volume.zone
  • #211
  • Feb 29, 2008 7:49am Feb 29, 2008 7:49am
good morning just woke up.


Today I will play the open rnage brsakout of the pair as it seems to be stuck in a range right now 207 to 205.8. If the dwo drops we could break 205.8 to the downside.

I will post chart a little later
Blogging daily now at www.volume.zone
  • #212
  • Feb 29, 2008 8:03am Feb 29, 2008 8:03am
Today I will play the open rnage brsakout of the pair as it seems to be stuck in a range right now 207 to 205.8. If the dwo drops we could break 205.8 to the downside.

malcolmb14

Goodmorning.

I have a question regarding open range prices. I know you take the high and low of the first 30 mins and then you set your price for long on high and short on low. When you set the pending order do you take the low - 15 and the high + 15 (you said because we are in such a strong downtrend + 25) or do you just take the high and low price for entry.

Thanks. sw
The Will is Greater than the Skill
  • #213
  • Feb 29, 2008 8:17am Feb 29, 2008 8:17am
Here is a 5 min

We are in a bear flag

Buy the breakout of 207
Sell the breakdown of the bottom of the flag

Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy.jpg Size: 180 KB
Blogging daily now at www.volume.zone
  • #214
  • Feb 29, 2008 8:20am Feb 29, 2008 8:20am
Quoting skillwill
Today I will play the open rnage brsakout of the pair as it seems to be stuck in a range right now 207 to 205.8. If the dwo drops we could break 205.8 to the downside.

malcolmb14

Goodmorning.

I have a question regarding open range prices. I know you take the high and low of the first 30 mins and then you set your price for long on high and short on low. When you set the pending order do you take the low - 15 and the high + 15 (you said because we are in such a strong downtrend + 25) or do you just take the high and low price for entry.

Thanks. sw
Open range breakouts I go straight in on next bar after the breakout.

or my favoured technique is to wait for the retrace to the open range high or low after the break out .

Study yesterdays open rnage .. see how it retested it at 11:30 pacific. This was the 2nd short entry.....you would have made some serious pips on that one.
Blogging daily now at www.volume.zone
  • #215
  • Feb 29, 2008 8:33am Feb 29, 2008 8:33am
Quoting malcolmb14
Quote
Open range breakouts I go straight in on next bar after the breakout.

or my favoured technique is to wait for the retrace to the open range high or low after the break out .

Study yesterdays open rnage .. see how it retested it at 11:30 pacific. This was the 2nd short entry.....you would have made some serious pips on that one.
Thank you for the clarification. During London session short was triggered at 207.37, and yes it did retrace to open low and then went all the way down to 205.95 (not too bumpy of a ride)

Thank you for sharing your knowledge. sw
The Will is Greater than the Skill
  • #216
  • Feb 29, 2008 9:24am Feb 29, 2008 9:24am
I do not like the tight choppy action today , scalped 2 x 15 pips and I think iI will leave it at that today.

Something might give later and we might get some better action but for now we seem stuck in the bear flag.

Do not forget sell trades are with the trend at the moment.
Blogging daily now at www.volume.zone
  • #217
  • Feb 29, 2008 9:29am Feb 29, 2008 9:29am
How is it that the market can be down so far and there is next to no response from this pair, or the usd-jpy for that matter? Just seems strange.
Any thoughts?
  • #218
  • Feb 29, 2008 9:41am Feb 29, 2008 9:41am
Quoting malcolmb14
good morning just woke up.


Today I will play the open rnage brsakout of the pair as it seems to be stuck in a range right now 207 to 205.8. If the dwo drops we could break 205.8 to the downside.

I will post chart a little later
If today's open range is 206.76 H and 206.40 L (NY 8:00 EST), do you use it for a full 24 hrs or do you use new ranges for London (3:00 EST) and Tokyo (19:00 EST)?
  • #219
  • Edited 9:50am Feb 29, 2008 9:47am | Edited 9:50am
Hi Malcolbm14,

I am trying apply your strategy on demo account, I were watching JY and YM during 6:30PST - 7:30PST. I have the following questions.

1) what do you mean by "scalped 2 x 15 pips" ? Are you saying you already scalped 2 times with 15 pips profit each or scalped 2 lots with 15 pips profit ?

2) Do you traded JY or YM (DJ-30) on this scalp trade ? JY never broke the high or low of 6:30PST - 7:30PST ?

Thanks for clarification. Great Thread !

Quoting malcolmb14
I do not like the tight choppy action today , scalped 2 x 15 pips and I think iI will leave it at that today.

Something might give later and we might get some better action but for now we seem stuck in the bear flag.

Do not forget sell trades are with the trend at the moment.
  • #220
  • Feb 29, 2008 10:23am Feb 29, 2008 10:23am
Quoting lalatwk
Hi Malcolbm14,

I am trying apply your strategy on demo account, I were watching JY and YM during 6:30PST - 7:30PST. I have the following questions.

1) what do you mean by "scalped 2 x 15 pips" ? Are you saying you already scalped 2 times with 15 pips profit each or scalped 2 lots with 15 pips profit ?

2) Do you traded JY or YM (DJ-30) on this scalp trade ? JY never broke the high or low of 6:30PST - 7:30PST ?

Thanks for clarification. Great Thread !
scalped 2 times , 15 pips each time. I trade 20 lots on gbpjpy.

YM ... I took that on the test of a 1-2-3 sell fib extension at 76.4 .. typically when this is broken and rested (as it was) we get a ride down to 123.6 fe ( which we did at 12350)

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