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Geppy's Geppy Thread (GBP/JPY)

  • #15,741
  • Nov 7, 2014 9:06am Nov 7, 2014 9:06am
Quoting albchr
{quote} I have small 4H demand at 181.369 but I think this push will eat that up with a bounce rather quickly. Below that I have SR at 180.677 4H {image}
I got 180.55 here instead of 180.677, anyway close tho.

Optimally this test is good because if it does break 40ish and give it a test from below next should be 180.55; after 180.55 its DP 179.80/60 anyway..

Anyone got 180.55 as fib too? lol
  • #15,742
  • Nov 7, 2014 9:08am Nov 7, 2014 9:08am
Quoting AllyB
{quote} I took 21 earlier and just closed for 30 more so I am happy. would be nice to get a PB and sell again
I noticed that before ally, you kinda scalp the swings, am I right? Pretty good tho..
  • #15,743
  • Edited 9:22am Nov 7, 2014 9:08am | Edited 9:22am
Quoting Hickson
{quote} Don't know how to make profit from all these inside moves noise ... to be honest, I have never seen someone who has shown me a valid scalping strategy with consistent profits. Does not mean you do not have one though, but with these kind of inside moves I do not want to trade.
It's been my experience that scalping is the same as trading any higher time frame (if you do it right). The only difference is that you need to do your analysis and make decisions more quickly, and your trade direction changes more quickly and frequently as well. Same R:R, same money management, etc.

Many believe that it's gambling, or there's no way you can successfully trade those lower time frames, but it's simply not true. You wait for your opportunities, and only trade when you see a good signal, same as higher time frames.

I'll give you one example how I do it (others may have other views or successful methods). Take for example the pin bar. Say you have one on the hourly chart. Many times the price retraces, does it not? So, sometimes you have 2 or 3 pin bars in a row. Anyway, you have a pin bar. A scalping idea is wait for a retrace on the lower time frames after you have an H1 or higher pin bar.

As you watch the price, if it retraces, note any potential S/R levels that would likely produce a bounce. When you see a reversal pattern form on M1, M5, or M15, jump in if the R:R looks good. Plus, if the price retraces all the way to the tip of the pin, it is very very likely it will bounce there. Also, as I posted before in this thread, if you have a pin, and drill down in lower time frames and see a reversal pattern, it proves the pin bar is a valid signal. If there's no reversal pattern, then wait for the retrace. So, you not only have scalping method, but a good verification method to know if the pin is a valid signal.

So, there you have it, you jumped in with a 5-10 pip SL below the floor of your M1, M5, or M15 reversal pattern. Ride it up as long as you feel comfortable, and as higher time frame candles close, if they confirm the direction, stay in for a longer trade. This principle is good for fine tuning your entry points, as well as scalping a few pips even if exit trade early...

Another point to remember. Do you see sometimes where price just takes off in a directional reversal, leaving behind it what looks like a wall that could not be penetrated? Albchr had a nice trade posted above like that. Well, you can find those entries, if you know what to look for, and are patient enough to wait for them. You can fine tune entries for longer term trades, or trade them more frequently on lower time frames...

Managing trade and determining profit targets is the same as higher time frames. It's actually a lot more work to scalp. But a lot more profitable if you are good at it...

Lots more, but this gives some concepts in a nut shell...

Anyway, my 2 cents
  • #15,744
  • Nov 7, 2014 9:11am Nov 7, 2014 9:11am
Quoting albchr
{quote} I have small 4H demand at 181.369 but I think this push will eat that up with a bounce rather quickly. Below that I have SR at 180.677 4H {image}
that is nice and very interesting
  • #15,745
  • Nov 7, 2014 9:11am Nov 7, 2014 9:11am
Quoting FX-Ray
{quote} I got 180.55 here instead of 180.677, anyway close tho. Optimally this test is good because if it does break 40ish and give it a test from below next should be 180.55; after 180.55 its DP 179.80/60 anyway.. Anyone got 180.55 as fib too? lol
181.40 already broken.
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 13 KB
Fix up, trade sharp ...
  • #15,746
  • Nov 7, 2014 9:13am Nov 7, 2014 9:13am
Quoting Hickson
{quote} 181.40 already broken. {image}
My fault, by break I mean a significant penetration of price, like say 20ish or below. Right now its still a test or bounce
  • #15,747
  • Nov 7, 2014 9:14am Nov 7, 2014 9:14am
Quoting FX-Ray
{quote} I noticed that before ally, you kinda scalp the swings, am I right? Pretty good tho..
you got it. spent so much good time doing dustbins and getting 12 pips per trade then compounding it was all good. I do want to get into holding trades but I may not have any fingernails until I trust myself LOL
  • #15,748
  • Nov 7, 2014 9:16am Nov 7, 2014 9:16am
Quoting FX-Ray
{quote} My fault, by break I mean a significant penetration of price, like say 20ish or below. Right now its still a test or bounce
I was just posting this because some people believe even if a level is broken by a few pips it will be tested again ... I have not taken a closer look at this theory to be honest.
Fix up, trade sharp ...
  • #15,749
  • Nov 7, 2014 9:17am Nov 7, 2014 9:17am
Quoting AllyB
{quote} you got it. spent so much good time doing dustbins and getting 12 pips per trade then compounding it was all good. I do want to get into holding trades but I may not have any fingernails until I trust myself LOL
I cant trade like this, if it works for you its absolutely fine I even admire that. I just fail scalping, or swing-scalping in the long-run.
  • #15,750
  • Nov 7, 2014 9:19am Nov 7, 2014 9:19am
Quoting Mr. Scott
{quote} Ok, I will post what Chris and I discussed. He can add or correct. I do not know Ally well but I believe she will appreciate this as it appears she does something similar. GJ, I had but wanted confluence. If I remember correctly, Chris was looking at 1.27 ext on GJ. Great, but no structure or relationships to support it. So, had to find it. Found it on monthly GJ and UJ, and UJ had nice ab = cd completion at same point. Confluence, case for entry. {image} {image} {image}
Nope, I can't add a thing buddy. Except that you found more confluence than I did.

That's why I took that lower short first and coughed up (willingly) 25 pips before this one. I had the upper level but had I seen your confluence myself I would waited for it. There is still a bit of a fight I'm having with focus due to things here. But I really should have worked harder to find what you did.
Ghost Rider - WWTBMD?
  • #15,751
  • Nov 7, 2014 9:20am Nov 7, 2014 9:20am
Quoting FX-Ray
{quote} I cant trade like this, if it works for you its absolutely fine I even admire that. I just fail scalping, or swing-scalping in the long-run.
trying to get to the point where I am spending less time on the computer and more time doing all the interesting things their is to do here
  • #15,752
  • Nov 7, 2014 9:20am Nov 7, 2014 9:20am
Quoting Hickson
{quote} I was just posting this because some people believe even if a level is broken by a few pips it will be tested again ... I have not taken a closer look at this theory to be honest.
No complicated theory mate but as easy as that: http://www.forexfactory.com/showthre...07#post7844807

  • #15,753
  • Nov 7, 2014 9:20am Nov 7, 2014 9:20am
Quoting benaiah
{quote} It's been my experience that scalping is the same as trading any higher time frame (if you do it right). T
Thanks Geppy man, I just took your post and copied it to a text file to work through it
Fix up, trade sharp ...
  • #15,754
  • Nov 7, 2014 9:23am Nov 7, 2014 9:23am
Test 40ish, bounce of ~55Pips, if 95ish holds and 40ish gets a break I see ~180.85 for now
  • #15,755
  • Nov 7, 2014 9:24am Nov 7, 2014 9:24am
Quoting Hickson
{quote} I was just posting this because some people believe even if a level is broken by a few pips it will be tested again ... I have not taken a closer look at this theory to be honest.
Hi Hickson

Not sure if I'm still on your ignore but ... It's quite true most times but not all. I need to follow it longer than I already have (only a few months now) but as now, I have to say roughly 75% to 85% of the times. But it refers to mostly major levels and not so much minor ones.
Ghost Rider - WWTBMD?
  • #15,756
  • Nov 7, 2014 9:24am Nov 7, 2014 9:24am
Quoting FX-Ray
{quote} No complicated theory mate but as easy as that: http://www.forexfactory.com/showthre...07#post7844807
LOL! I have made a mistake and did not see the DP early enough, since I do not scroll into M1 charts that often I guess haha
Fix up, trade sharp ...
  • #15,757
  • Nov 7, 2014 9:26am Nov 7, 2014 9:26am
Quoting albchr
{quote} Going out on limb here and assuming this was meant for me? This is my folks place. (I hardly have anything myself .. lol) So there's the emotional aspect of all of it too. Not just losing their dream home but kind of hard (for me anyway) going through all "their" things deciding what to do with what.
yea it was for you. didn't think about going thru others property. that would be really hard for sure
  • #15,758
  • Nov 7, 2014 9:28am Nov 7, 2014 9:28am
Quoting FX-Ray
{quote} No complicated theory mate but as easy as that: http://www.forexfactory.com/showthre...07#post7844807
  • #15,759
  • Nov 7, 2014 9:30am Nov 7, 2014 9:30am
Quoting AllyB
{quote} yea it was for you. didn't think about going thru others property. that would be really hard for sure
Yeah, sometimes an oversize heart is a real drawback.
Ghost Rider - WWTBMD?
  • #15,760
  • Nov 7, 2014 9:30am Nov 7, 2014 9:30am
Quoting albchr
{quote} Hi Hickson Not sure if I'm still on your ignore but ... It's quite true most times but not all. I need to follow it longer than I already have (only a few months now) but as now, I have to say roughly 75% to 85% of the times. But it refers to mostly major levels and not so much minor ones.
No, it was long enough. Had mostly to do with the constant feeling of disbelief and criticism towards any of my posts plus subscribe/unsubscribe etc. No question that there is enough to critize about my posts, but it was getting a bit too personal for me, so I retreated myself from it with an obviously overdone reaction, sorry for that.

Well, let's see if something occurs, been stopped out for a few from DP earlier. Flat for now on Geppy.
Fix up, trade sharp ...
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