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GBPJPY scalpers

  • #2,581
  • Jul 19, 2008 11:11pm Jul 19, 2008 11:11pm
Quoting rrram2
But first we have to get past 214.50/60, Which is going to be hard.
I expect to bounce off it several times next week before being enough strength to break through.
I concur.
  • #2,582
  • Aug 9, 2008 11:33am Aug 9, 2008 11:33am
Hi GJ dudes,

I was looking at the chart of your baby here and also at cable and UJ and EG and EU of course. Anyway.. GJ looks to have made a nice higher low here, following the LTL it established on daily. What are your opinions on a long now ?
80-100 pip sl close below this lower low and targets way higher in this daily channel ? Would appreciate your input.
On the path to Enrichment.
  • #2,583
  • Aug 9, 2008 11:45am Aug 9, 2008 11:45am
Quoting Jurrasic
Hi GJ dudes,

I was looking at the chart of your baby here and also at cable and UJ and EG and EU of course. Anyway.. GJ looks to have made a nice higher low here, following the LTL it established on daily. What are your opinions on a long now ?
80-100 pip sl close below this lower low and targets way higher in this daily channel ? Would appreciate your input.
I was thinking the same thing , and notice how the gbpusd crashed .. but the gj barely moved in reality . In addition if you look at the gu 4 hour the rsi is at something like 14 .... extremely oversold and we should get a turn around in the majors sometime next week

The daily trend line held on the gbpjpy and we are still in what may be some form of flag

we will have to wait for next week to see how this plays out

Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy.jpg Size: 166 KB
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  • #2,584
  • Edited 1:19pm Aug 9, 2008 12:05pm | Edited 1:19pm
Yup, also notice cable could be hitting a monthly LTL at about 1.9 and EG is dropping. EU should go another 250 pips at least as we know.. So it looks good. I actually think I will enter the trade indeed with an sl at 210.9, tp half right below 213 which it seems very likely to reach, be and let the rest run with some wide trail. Reason for not waiting is I think this one could run away quickly and mess the r:r. Just my opinion and my trade of course.

EDIT: http://www.dailyfx.com/story/special...222722356.html
HMMM.... Now, one of us, either me or the dailyfx analyst bunch have some SERIOUS trouble with drawing trendlines... Mine is currently at about 1.91, and theirs been crossed at about 1.93. Anybody who does know how to draw trendlines, could you check your monthly for cable, please ?
On the path to Enrichment.
  • #2,585
  • Aug 9, 2008 4:43pm Aug 9, 2008 4:43pm
Quoting Jurrasic
Yup, also notice cable could be hitting a monthly LTL at about 1.9 and EG is dropping. EU should go another 250 pips at least as we know.. So it looks good. I actually think I will enter the trade indeed with an sl at 210.9, tp half right below 213 which it seems very likely to reach, be and let the rest run with some wide trail. Reason for not waiting is I think this one could run away quickly and mess the r:r. Just my opinion and my trade of course.

EDIT: http://www.dailyfx.com/story/special...222722356.html
HMMM.... Now, one of us, either me or the dailyfx analyst bunch have some SERIOUS trouble with drawing trendlines... Mine is currently at about 1.91, and theirs been crossed at about 1.93. Anybody who does know how to draw trendlines, could you check your monthly for cable, please ?
I have posted here a monthly with fib retracements and fib time lines.

The 50 sma on the monthly is at 1.9000. A break of here will likely lead to a test of the bottom of the Keltner channel at 1.8000 level.

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.jpg Size: 193 KB
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  • #2,586
  • Aug 10, 2008 5:47pm Aug 10, 2008 5:47pm
Messed it up Not the best way to start the week...
On the path to Enrichment.
  • #2,587
  • Edited 6:17pm Aug 10, 2008 6:16pm | Edited 6:17pm
Quoting malcolmb14
I have posted here a monthly with fib retracements and fib time lines.

The 50 sma on the monthly is at 1.9000. A break of here will likely lead to a test of the bottom of the Keltner channel at 1.8000 level.

Attachment
Thank you, Malcolm, for the chart. No body wants to do business blindly and no body is telling newbies how to do business correctly except you. From the community, we thank you again for your contributing.
{Promotion Removed}
  • #2,588
  • Aug 10, 2008 6:26pm Aug 10, 2008 6:26pm
Quoting Jurrasic
Messed it up Not the best way to start the week...

the gbpjpy would be dropping like a rock right now if it was not for the bear traps set in eurusd and gbpusd

I traded the down part of the trap for a few pips but not the up part ... the trend is to strong right now for me to have the courage to go long , although the flag on the gbpusd so far is 50 pips and would have made for a decent trade
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  • #2,589
  • Aug 10, 2008 6:27pm Aug 10, 2008 6:27pm
Quoting forexpert
Thank you, Malcolm, for the chart. No body wants to do business blindly and no body is telling newbies how to do business correctly except you. From the community, we thank you again for your contributing.

your welcome....
Blogging daily now at www.volume.zone
  • #2,590
  • Aug 12, 2008 5:07am Aug 12, 2008 5:07am
Quoting malcolmb14
I have posted here a monthly with fib retracements and fib time lines.

The 50 sma on the monthly is at 1.9000. A break of here will likely lead to a test of the bottom of the Keltner channel at 1.8000 level.

Attachment
Hmmm!
{Promotion Removed}
  • #2,591
  • Aug 12, 2008 12:46pm Aug 12, 2008 12:46pm
Hi everyone, I want you all to short the beast now cause the bias is mainly south.
  • #2,592
  • Aug 26, 2008 12:25pm Aug 26, 2008 12:25pm
As always I expect her to go back up. Always Nice to See M amoung the living.

Quoting uncletrumpet
Hi everyone, I want you all to short the beast now cause the bias is mainly south.
  • #2,593
  • Oct 23, 2008 9:43pm Oct 23, 2008 9:43pm
Quoting forexmoments
Exactly, works best in non-ranging markets. But what happens in ranging markets? Forex aint that \"simple\" Malcom.
hi what about the exit?
  • #2,594
  • Oct 23, 2008 10:11pm Oct 23, 2008 10:11pm
Quoting fourxtrader
From his 15 min chart \ 50 sma strategy:

Is anyone watching to see if the price continues to move 15 pips
beyond the close of any candle that currently breached above or
below 50 sma?

We've had a crossover. Now waiting for the confirmation on the
next candle.

Dr. D.
hi what about the exit? does not work in volatile markets like oil though.
  • #2,595
  • Nov 15, 2008 8:38am Nov 15, 2008 8:38am
I almost read every part of this thread. I printed it, read it, I think alot of potetial of learning , I went throught babypips..great stuff and like other thread You are ON, I admire Yiour trading.
I just want to ask one Q. In some of the parts You are talking about 5M charts, then 15M then 2H charts, what is YOur preferable chart?
Next , are You using RSI14, MACD clasic and what else in Your charts??

Marcel
Newbie form EU, learning, got hammered so I went back to basics again, because I needed it. So Your help is great as well.
I read that You live in Vacouver. You went there for weekend last week, I used to work on that cruise ships out of Vancouver and loved that city. Great place and maybe if I make money go there with kids for vacation. So far I just lost, unfortunately.
Quoting malcolmb14
Cup and handle formations are everywhere in the gbpjpy right now.

They are not a fancy trading style , just simple chart patterns , of which the breakout of the handle can be traded.

Here is one on the 5 min chart from this monring.... the break of the handle has yet to really play out was 213. I think we will hit at least 213,8 zone later.

Attachment
  • #2,596
  • Nov 15, 2008 8:41am Nov 15, 2008 8:41am
To add, last week You placed one trade..on GBPJPY and then in a moment, You pull out and finally I said to myself, why??
I kept trade..lost money and You been out!!
Absolutely admire that.
If I could write You I wish to be in touch in email.
But IF You could.
[email protected]
Quoting capetown
I almost read every part of this thread. I printed it, read it, I think alot of potetial of learning , I went throught babypips..great stuff and like other thread You are ON, I admire Yiour trading.
I just want to ask one Q. In some of the parts You are talking about 5M charts, then 15M then 2H charts, what is YOur preferable chart?
Next , are You using RSI14, MACD clasic and what else in Your charts??

Marcel
Newbie form EU, learning, got hammered so I went back to basics again, because I needed it. So Your help is great as well.
I read that You...
  • #2,597
  • Nov 27, 2008 12:19pm Nov 27, 2008 12:19pm
Quoting malcolmb14
1-2-3 sell trigger on 60 min with FE's for targets

These could be used for scalping targets 5 min

23.6 = 211.10
38.2 = 210.80
50 = 210.60
61.8 = 210.4
76.4 = 210.15

Attachment
hey malc., pls what's 1-2-3 trigger system, can u let me into it.

thanks.
  • #2,598
  • Nov 28, 2008 2:28pm Nov 28, 2008 2:28pm
Quoting dialpips
hey malc., pls what's 1-2-3 trigger system, can u let me into it.

thanks.
I hope I'm not stepping on malcombs toe's, but I believe this is it? Hope this helps.
Attached File(s)
File Type: pdf 123system.pdf   1.1 MB | 1,985 downloads
  • #2,599
  • Nov 28, 2008 2:36pm Nov 28, 2008 2:36pm
Quoting fxstman
I hope I'm not stepping on malcombs toe's, but I believe this is it? Hope this helps.


that article is awesome , thanks for posting it
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  • #2,600
  • Nov 28, 2008 2:54pm Nov 28, 2008 2:54pm
Originally Posted by fxstman http://www.forexfactory.com/images/buttons/viewpost.gif
I hope I'm not stepping on malcombs toe's, but I believe this is it? Hope this helps.

Quoting malcolmb14
that article is awesome , thanks for posting it
Thanks, something to learn over the weekend.

And it looks as if malcolmb approves, awsome.
I trade what I see on my charts. Do Not listen to the Muppets.
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