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GBPJPY scalpers

  • #1,661
  • Mar 31, 2008 8:06pm Mar 31, 2008 8:06pm
Thanks
  • #1,662
  • Mar 31, 2008 8:20pm Mar 31, 2008 8:20pm
Malcolmb,
Did I miss something way back? Interesting that you bring up the MACD and looks to be an excellent way to confirm RSI 14.

Does it replace the 20 pip rule & can it be used for 5 & 15 min TF's?

Rome
  • #1,663
  • Mar 31, 2008 9:14pm Mar 31, 2008 9:14pm
Quoting Rcote
Malcolmb,
Did I miss something way back? Interesting that you bring up the MACD and looks to be an excellent way to confirm RSI 14.

Does it replace the 20 pip rule & can it be used for 5 & 15 min TF's?

Rome
No you did not miss anything

I use rsi , macd and stochastic when i trade futures. They seem to work much better for futures than they do for foex. Not sure why.
Blogging daily now at www.volume.zone
  • #1,664
  • Mar 31, 2008 9:38pm Mar 31, 2008 9:38pm
Quoting forexlion
I am short for 196.09 which is 23.6% monthly, for the month of April with 198.35 forming SL a rather tight one
the dumb GJ went down 50 pips then came back to hit my 30 trailing SL at +20

the current outlook is that with 197.82 forming a monthly support

if 198.35 is taken out then i will go long for 200.19 .
  • #1,665
  • Mar 31, 2008 9:54pm Mar 31, 2008 9:54pm
2 min chart with rapid rsi and macd

Obviously the trader has to determine the best time to use this technique , as it required volatility to produce results.

Attached Image (click to enlarge)
Click to Enlarge Name: gj50.png Size: 212 KB
Blogging daily now at www.volume.zone
  • #1,666
  • Edited 11:10pm Mar 31, 2008 10:31pm | Edited 11:10pm
my mt4 shows 198.31 as daily pivot!
All that is left in FF is just plain garbage. "Cloggie"
  • #1,667
  • Apr 1, 2008 12:18am Apr 1, 2008 12:18am
this bat bring GJ almost 50pips down
Attached Image (click to enlarge)
Click to Enlarge Name: chart.gif Size: 32 KB
Sometimes in order to see the light, you have to risk the dark
  • #1,668
  • Apr 1, 2008 12:47am Apr 1, 2008 12:47am
Since Nov'07 it been 5 month where GJ fall till 192. look at every monthly bar the upside is more likely 200-250pips then it fall. so if this behaviour continue means the top limit is 200 for this month.
(hope u guys understand what i mean since my english isnt very good)
Attached Image (click to enlarge)
Click to Enlarge Name: chart.gif Size: 15 KB
Sometimes in order to see the light, you have to risk the dark
  • #1,669
  • Apr 1, 2008 12:56am Apr 1, 2008 12:56am
can we say bear candle on the 1 hr in a couple minutes?
FUBAR...
  • #1,670
  • Apr 1, 2008 12:58am Apr 1, 2008 12:58am
my charts show gy hung up on the M2 pivot at 197.30 and Uj hung up on the central pivot at 99.68. break those and should be nice drop.
FUBAR...
  • #1,671
  • Edited 3:56am Apr 1, 2008 12:59am | Edited 3:56am
Quoting johnchia
Since Nov'07 it been 5 month where GJ fall till 192. look at every monthly bar the upside is more likely 200-250pips then it fall. so if this behaviour continue means the top limit is 200 for this month.
(hope u guys understand what i mean since my english isnt very good)
..And if there is a long wick at the bottom of the candle then the next candle wont go past the low of that candle..
  • #1,672
  • Apr 1, 2008 1:00am Apr 1, 2008 1:00am
broken and dropping. sweet.
FUBAR...
  • #1,673
  • Apr 1, 2008 1:07am Apr 1, 2008 1:07am
Quoting alearner
..And if there is a long wick at the bottom of the candle then the next candle wont go past the low of the that candle..
Thx for pointing out that too
Sometimes in order to see the light, you have to risk the dark
  • #1,674
  • Apr 1, 2008 1:30am Apr 1, 2008 1:30am
this really looks like someone is trying to clear the books big time. weird. think i'll watch.
Attached Image
FUBAR...
  • #1,675
  • Apr 1, 2008 4:56am Apr 1, 2008 4:56am
This tension is think... you can cut it with a knife... and I'm guessing by the quick response to the previous drop.. it's going to the up side...

Your thoughts?

Reminds me of a game of tug-of-war
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  • #1,676
  • Apr 1, 2008 5:33am Apr 1, 2008 5:33am
Quoting summitfx
EU bounced off S1 4x and moved higher! Missed it~
Looks like she has peaked out and is heading for the fall today.
  • #1,677
  • Apr 1, 2008 5:37am Apr 1, 2008 5:37am
Quoting dk143wvc
I am short at 198.12

Good grief what am I doing?

LOL
add to yuor short at 199 NOW
  • #1,678
  • Apr 1, 2008 5:41am Apr 1, 2008 5:41am
Quoting sharon_gpl
eur/gbp is heading towards 80 an maybe 81 by end of this week
I had hoped it would get to .8000 so I could short it but the EUR has tanked this morning.
  • #1,679
  • Apr 1, 2008 5:47am Apr 1, 2008 5:47am
Quoting tonyo524
Does anyone see a valid double top on the 4 hour chart?
I do see a weak GJ that has been heading due north for 5 hours straight.
the UJ carried up steady overnight. I thought it would have tested old highs at 101 but it looks like it has retreated. It looks like there is more GBP weakness due to USD strength.

Anyways I can't imagine GJ can keep heading due north without some correction. I am getting short from 199.
  • #1,680
  • Apr 1, 2008 5:55am Apr 1, 2008 5:55am
Quoting malcolmb14
No you did not miss anything

I use rsi , macd and stochastic when i trade futures. They seem to work much better for futures than they do for foex. Not sure why.
The trouble with macd is that it is generally a trailing indicator, which means that by the time you see something on it, it is too late to move on that info.

Macd I think is better as a confirmation on a small time frame chart like a 2 min. The main thing with macd I think is this:
Is it above 0 or below 0? above is bullish, below is bearish.
However what I find is that macd peaks or hit a low and at those points is when price reverses.

So I use it as well but not as any big indicator. It is a good visual view of divergence though.
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