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GBPJPY scalpers

  • #221
  • Feb 29, 2008 12:38pm Feb 29, 2008 12:38pm
5 Min chart. Good for 60 pips. I'm short to 206.13.
  • #222
  • Feb 29, 2008 12:41pm Feb 29, 2008 12:41pm
I am hoping for a re-test of the 205 range.
: Would be a nice way to end the week.
  • #223
  • Feb 29, 2008 12:42pm Feb 29, 2008 12:42pm
Quoting PipAV8tor
I am hoping for a re-test of the 205 range.
: Would be a nice way to end the week.
Amen brother!
  • #224
  • Feb 29, 2008 12:43pm Feb 29, 2008 12:43pm
Quoting Scotty B
5 Min chart. Good for 60 pips. I'm short to 206.13.
good luck to you mate.
  • #225
  • Feb 29, 2008 12:47pm Feb 29, 2008 12:47pm
Liberally to 206.01...I'm usually conservative in my targets, but hey it's Friday! Thats close enough to the 05's hey?
  • #226
  • Feb 29, 2008 12:50pm Feb 29, 2008 12:50pm
It would be nice. I am afraid it is just gonna pick a spot and stall...
  • #227
  • Feb 29, 2008 12:59pm Feb 29, 2008 12:59pm
Roger that Pipav8tor, i got resistance and around 206.55, will see if it heads south for 206.01
  • #228
  • Feb 29, 2008 1:35pm Feb 29, 2008 1:35pm
Quoting totalpips
Roger that Pipav8tor, i got resistance and around 206.55, will see if it heads south for 206.01
It dropped pretty quickly there on the 5. RSI got into the 30's. She needs to go up for a minute and 'get a breath.' She's headed south though. No worries mate.

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  • #229
  • Feb 29, 2008 1:50pm Feb 29, 2008 1:50pm
What an idiot .... I missed one of the best scalping days.

A sweet channel formed on the 5 min that you could trade with 40 pips stops either way. This is best played on a 3 min chart

This is an advanced scalping technique and not for the faint of heart... lol

I did my damage on the dj-30 2 wins one loss for 90 pips.

Attached Image (click to enlarge)
Click to Enlarge Name: Chart1.JPG Size: 141 KB
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  • #230
  • Feb 29, 2008 1:51pm Feb 29, 2008 1:51pm
That channel .... only 400 pip movement today

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  • #231
  • Feb 29, 2008 1:59pm Feb 29, 2008 1:59pm
I'm still there with ya Scotty. I almost closed out at 206.42, but I still think it will go just a little lower. I do hate this last hour though. Never can tell what the market will do. Could ruin the whole move down...
  • #232
  • Feb 29, 2008 2:35pm Feb 29, 2008 2:35pm
Quoting PipAV8tor
I'm still there with ya Scotty. I almost closed out at 206.42, but I still think it will go just a little lower. I do hate this last hour though. Never can tell what the market will do. Could ruin the whole move down...
Pips..

Watch for a break of the down trend on the 5m in off 207.4 level

Looks like dj set to close low of day
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  • #233
  • Edited 2:53pm Feb 29, 2008 2:36pm | Edited 2:53pm
I don't want to leave it open over the weekend, so I hope it hurries a little.
(nervous laugh)

Update: Out at 206.27. That was a long scalp. Good news is I am up 25% for the week on my live acct.
  • #234
  • Feb 29, 2008 2:53pm Feb 29, 2008 2:53pm
something major is going to happen next week.

DJ-30 dropping like a rock and closing right on low of day,

I am still holding that position trade short off 213.

I am happy to be holding it over the weekend.
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  • #235
  • Feb 29, 2008 2:55pm Feb 29, 2008 2:55pm
Quoting PipAV8tor
I don't want to leave it open over the weekend, so I hope it hurries a little.
(nervous laugh)

Update: Out at 206.27. That was a long scalp. Good news is I am up 25% for the week on my live acct.

That is awesome !!!!

did you get the scalp using the rsi dropped thru 60 on the 5 min ?

I saw the trade but did not take it. Have not slept enough this week and was busy trading the drop in the YM
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  • #236
  • Feb 29, 2008 3:04pm Feb 29, 2008 3:04pm
Quoting malcolmb14
something major is going to happen next week.

DJ-30 dropping like a rock and closing right on low of day,

I am still holding that position trade short off 213.

I am happy to be holding it over the weekend.
Just look at what happened the last time we had the exact same patterns on the charts; things went south in a hurry. There are also un-met cycles still down in the 204 range. This is not including the head and shoulders formation on the weekly. Eventually she'll get down to at least the 197 mark, and thats not that far away at the moment.
  • #237
  • Feb 29, 2008 3:08pm Feb 29, 2008 3:08pm
Quoting Scotty B
Just look at what happened the last time we had the exact same patterns on the charts; things went south in a hurry. There are also un-met cycles still down in the 204 range. This is not including the head and shoulders formation on the weekly. Eventually she'll get down to at least the 197 mark, and thats not that far away at the moment.
I am thinking 197 next week ..... maybe even 190. A break of 190 is massive. This is the trend line on the monthly.
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  • #238
  • Feb 29, 2008 3:15pm Feb 29, 2008 3:15pm
Quoting malcolmb14
That is awesome !!!!

did you get the scalp using the rsi dropped thru 60 on the 5 min ?

I saw the trade but did not take it. Have not slept enough this week and was busy trading the drop in the YM
I got in earlier than that on what turned out to be very risky move. I watched it bounce in the channel on the 5 and 15m charts and when the 1 hr chart finally turned over in support of a downward move( the 1200-1300 candle EST), I jumped in. Literally. It took a lot longer than I thought. I was also counting somewhat on the down turn in the market, but this pair didn't really fall today like I thought it might. Worked out OK, but wasn't the best trade I ever made.
  • #239
  • Feb 29, 2008 3:33pm Feb 29, 2008 3:33pm
Quoting PipAV8tor
I got in earlier than that on what turned out to be very risky move. I watched it bounce in the channel on the 5 and 15m charts and when the 1 hr chart finally turned over in support of a downward move( the 1200-1300 candle EST), I jumped in. Literally. It took a lot longer than I thought. I was also counting somewhat on the down turn in the market, but this pair didn't really fall today like I thought it might. Worked out OK, but wasn't the best trade I ever made.
here is the trade on the 5 min ..... trade trigger entry was 206.90

i think you did an awesome trade .. without even knowing it ...lol

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Click to Enlarge Name: Chart1.JPG Size: 137 KB
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  • #240
  • Feb 29, 2008 3:34pm Feb 29, 2008 3:34pm
Quoting malcolmb14
here is the trade on the 5 min ..... trade trigger entry was 206.90

i think you did an awesome trade .. without even knowing it ...lol

Attachment

As the trend is down the ONLY safe trades in the bear flag are the sell triggers.
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