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GBPJPY scalpers

  • #521
  • Mar 13, 2008 11:40am Mar 13, 2008 11:40am
Quoting 1ADB
Malcolm,

For the record the market seems to do what you tell it.............

Thanks Alex


That was fun on skype this morning.

It was not a bad day.

AUDUSD bear flag was broken and is now in its way on wave 5 on the daily.

We seem to be forming a bear flag on the 15 min gbpjpy.

Take note of Zebra's postiongs . He called me yesterday and tole me that at 14:50 my time something was happening that would be major.

He was out by 10 minutes. I could not believe it.

His method ..... well you will he to ask him that but Gann swore by it.
Blogging daily now at www.volume.zone
  • #522
  • Mar 13, 2008 12:04pm Mar 13, 2008 12:04pm
Quoting zebra7860
Evening everybody,

I hope Malcolm doesn't mind me posting my thoughts on the GBPJPY. On the one hand, I see that it has touched 207.75 three times. This is significant. As W.D Gann said, when a commodity touches a trendline 3 times, it will most probably crack right through and go through on the 4th try. The problem is that it also did the same around the 203 area.

My "guess" is that it will go higher, not lower. In the meantime, I see a high at 21:23 so I shorted the damn thing, with a target of 206.52ish.

I also see a good CIT at 22:39-23:34

This could be a very good move from there! Whether it accelerates downwards or stops and goes up does not matter. I will take another trade then.

Time will tell....
Al
Hi Zebra,

You seem to be on to something. Keep your posts coming and please share your methods.

Alex
Think BIG!
  • #523
  • Mar 13, 2008 4:09pm Mar 13, 2008 4:09pm
I am seeing a cup and handle formed on the 60 min,

The handle has just broken to the downside.

This is the exact same pattern that formed on the audusd daily that is playing out nicely righgt now (180 pips in profit)

Attached Image (click to enlarge)
Click to Enlarge Name: Chart4.JPG Size: 144 KB
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  • #524
  • Mar 13, 2008 11:51pm Mar 13, 2008 11:51pm
Quoting malcolmb14
I am seeing a cup and handle formed on the 60 min,

The handle has just broken to the downside.

This is the exact same pattern that formed on the audusd daily that is playing out nicely righgt now (180 pips in profit)

Attachment
malc i like your analysis!!! and yes i am still loving the aussie trade lol
  • #525
  • Mar 14, 2008 7:27am Mar 14, 2008 7:27am
watch the ym futures before the news comes out .. they move seconds before gj does
Blogging daily now at www.volume.zone
  • #526
  • Mar 14, 2008 7:45am Mar 14, 2008 7:45am
sorry mate, what does ym stands for? thanks in advance.
Quoting malcolmb14
watch the ym futures before the news comes out .. they move seconds before gj does
  • #527
  • Mar 14, 2008 7:57am Mar 14, 2008 7:57am
Quoting kenneith
sorry mate, what does ym stands for? thanks in advance.
DOW mini

Anyone know an mt4 broker that has it?
  • #528
  • Mar 14, 2008 8:00am Mar 14, 2008 8:00am
Quoting malcolmb14
Here is a eurcad trade I have been in for a while.

4 hour chart . I got in at 1.4876.

we have an awesome 1-2-3 buy set up.

Plotting fib extensions my target is 127% fib at 1.5500 if all things remain equal.

The linear regression channel shows the current trend

Forecasting forward the linear regression channel and fe 127 will intersect on March 13th.

This is if all thing remain equal and there is no major trend reversal.

Is it really that easy ???

HELL YEAH !!! It is simple geometry

Attachment

March 13th ... as predicted hit my target of 1.5500. i am still in the trade as there is nothing suggesting i get out
Blogging daily now at www.volume.zone
  • #529
  • Mar 14, 2008 8:05am Mar 14, 2008 8:05am
Quoting cotoho
DOW mini

Anyone know an mt4 broker that has it?

A free MT4 download from Waterhouse (WHC Trader) ...http://www.metaquotes.net/files/whc/whc4setup.exe right click on "Symbol" line below Market Watch and click Show All......DOW is listed as YM...

Cheers
  • #530
  • Mar 14, 2008 8:08am Mar 14, 2008 8:08am
Quoting cotoho
DOW mini

Anyone know an mt4 broker that has it?
Get demo here http://www.fastonlinetrading.com/terminal.html
the WHC one.

I found something interesting, geppy whipsawed before the news, YM did not.
Malcolm what's your experience on this?
Attached Images
  • #531
  • Mar 14, 2008 8:24am Mar 14, 2008 8:24am
Quoting Navigator
A free MT4 download from Waterhouse (WHC Trader) ...http://www.metaquotes.net/files/whc/whc4setup.exe right click on "Symbol" line below Market Watch and click Show All......DOW is listed as YM...

Cheers
Did that but I don't see it listed? Can't see YM. Clicked on show all...
  • #532
  • Mar 14, 2008 8:25am Mar 14, 2008 8:25am
Quoting cotoho
Did that but I don't see it listed? Can't see YM. Clicked on show all...
Right click and hide all, then right click and choose symbols, there you have a tree list, expand "Indices top" and choose to show YM.
  • #533
  • Mar 14, 2008 8:47am Mar 14, 2008 8:47am
Quoting SimonJ
Right click and hide all, then right click and choose symbols, there you have a tree list, expand "Indices top" and choose to show YM.
I must be a little dense.

When I do it I don't get "indices top", I do get an "indices" tab, but there is no YM under that tab.
  • #534
  • Mar 14, 2008 8:58am Mar 14, 2008 8:58am
Quoting cotoho
I must be a little dense.

When I do it I don't get "indices top", I do get an "indices" tab, but there is no YM under that tab.
If you didn't download the MT4 from the source I linked to try that one instead.
EDIT: oh there are indicies too, at least for me indices are about in the middle and indices top is 3rd from the top.
  • #535
  • Mar 14, 2008 9:20am Mar 14, 2008 9:20am
Quoting SimonJ
If you didn't download the MT4 from the source I linked to try that one instead.
EDIT: oh there are indicies too, at least for me indices are about in the middle and indices top is 3rd from the top.
I knew I wasn't that dumb....I just downloaded it from your link, that worked.

Thanks
  • #536
  • Mar 14, 2008 9:27am Mar 14, 2008 9:27am
Quoting SimonJ
Get demo here http://www.fastonlinetrading.com/terminal.html
the WHC one.

I found something interesting, geppy whipsawed before the news, YM did not.
Malcolm what's your experience on this?

My datafeed is better than yours .. esignal it moved 3 - 4 secs before the news

I think MT4 is free ...... and the datafeed may be slower
Blogging daily now at www.volume.zone
  • #537
  • Mar 14, 2008 10:09am Mar 14, 2008 10:09am
Quoting malcolmb14
My datafeed is better than yours .. esignal it moved 3 - 4 secs before the news

I think MT4 is free ...... and the datafeed may be slower
What is esignal and how to get it?
  • #538
  • Mar 14, 2008 10:59am Mar 14, 2008 10:59am
Quoting NowAndLater
What is esignal and how to get it?

Google.com is your friend. Alternately, typing esignal.com in an address bar would have yielded the desired results.

ESignal is market data provider, like Bloomberg or Reuters or Tradestation.
  • #539
  • Mar 15, 2008 11:27am Mar 15, 2008 11:27am
EURCAD is my position trading pair as it moves in very nice waves..Right now it it hitting 1.5500.

This is a resistance zone on the weekly.

I am looking for a retrace off this area for the following reasons

1) there is bearish divergence in the rsi on the weekly and a sell trigger a few weeks back.

Attached Image (click to enlarge)
Click to Enlarge Name: eurcadweekly.png Size: 327 KB


2 ) daily has a sell trigger devleoping close to resistance and top of channel.

Attached Image (click to enlarge)
Click to Enlarge Name: eurcaddaily.png Size: 380 KB


3) 8 hour rsi is very overbought.

Attached Image (click to enlarge)
Click to Enlarge Name: eurcad8 hour.png Size: 315 KB


4) rsi looks like it might drops on 4 hour

Attached Image (click to enlarge)
Click to Enlarge Name: eurcad04.png Size: 301 KB


5) rsi on 2 hour has bearish divergence.

1.5484 sell trigger , entry 1.5384.

worst that happens we find support on 1.5310 and make 70 pips.



Attached Image (click to enlarge)
Click to Enlarge Name: eurcad2 hour.png Size: 263 KB
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  • #540
  • Mar 16, 2008 11:39am Mar 16, 2008 11:39am
I wanted to share this eamil with you all that I sent to a forum member.



It is a 2 hour rsi stratergy for gbpjpy

The trigger bar is when the RSI comes out of overbought or oversold conditions.

For gbpjpy 120 min entry is 100 pips above high or low of trigger bar on 2 hour chart and 50 pips on 60 min chart ... 120 min chart you need 200 pips stop


Look at chart below for trades


1 - low 206.4 , entry 205.3 filled subsequent high 208 , subsequent low 203,58 , call it 110 pips , but stopped out with loss of 200 pips due to price spike on news.
1a .... re - enter short at 205.3 as you can see that spike on 1a was news driven. this gave profit of 130 pips
2 - buy trigger high 206.54 , entry 207.54 , no fill no trade , sell 1 stays in play,
3- buy high 205.06 , entry 206.06 , subsequent low (non applicable no draw down) , subsequent high 207.9 , call it 150 pips
4 and 5 - sell trigger low 206.5 , entry 205.5 , no draw down , ...as buy trigger 6 and 7 are not filled short stay in play till now ( 200.40) ..... 500 pips
6 buy trigger bar high 205.20 , entry 206.20 , subsequent high 205.42 ,NO TRADE short stays in play.
7 buy trigger high 204.95 , entry 205.95 , sebsequent high from tirgger bar 205.42 , short remains in play

total pips march 2 to Friday = -200+150+500+130 = 580. That is a good return.


ANY indicator just shows you that the trend might be turning .Rapid RSI is a good tool to show potential pivots forming. The reason for adding / subtracting pips is to make sure that the triggers are in fact pivots and in fact the trend is turning

If you get esignal I will show you how to draw those 1-2-3 sell triggers with fib extensions put on them ( pink lines ) these give you your targets. I think we will get a bounce into 38.2 % fib today , but then AS LONG AS THE CHANNEL TOP REMAINS RESISTANCE , will drop down to 199 or even 197.

Anything could happen due to the interest rate annoucements on Tuesday


Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy2 hour.png Size: 237 KB
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