It would seem that the confluence of the 50 Fibo and the downward weekly trendline may give an appropriate short level. I believe that is in the neighborhood of Jacko's target from what I read. Like many here I am lightly long at the moment. One ...

Jacko's Forex House of Pleasure and Pain

JPA, I would take a look at the weekly before shorting, and come up with an objective R/R on that one given the underlying support. Still holding the USDCAD shorts, as the weekly seems to show a trendline rejection...for the moment....awaiting a ...

james16 Chart Thread

Indeed, given the importance of the 126 to 12650 area on the daily/weekly charts for EURJPY, refining the possible entry becomes an interesting task.

james16 Chart Thread

LOL - apparently I learned my chart posting skills from Jacko .... anyway, the recent hourly EURJPY shows a nice PB three bars ago, but, to my mind, there are also a series of potentially unprofitable trades in there as well that might have been ...

james16 Chart Thread

Indeed, well said. I agree with that. Wise words about the importance of a good setup versus a somewhat aggressive one. There is sometimes a temptation on a large PB break to place a "hopeful" stop at an intrabar retracement, but overall, I find one ...

james16 Chart Thread

Indeed, one could debate the merits of waiting for the break versus aggressively waiting for a retracement of a long candle like that to enter. Risk/Reward comes into play at some point.

james16 Chart Thread

I remain lightly short USDCAD, though I am trying to resolve the idea of the price point at roughly the 50 percent monthly fibo versus the idea of weekly uptrend consolidation versus the daily pin with resultant indecision yesterday. God forbid, I ...

james16 Chart Thread

That chart in isolation looks promising.....take a look at the daily, however. There's a lot to overcome.....R/R may be a limiting factor here.

james16 Chart Thread

The USDCAD chart may be worth a look, to affirm the a possible EURUSD retracement. It seems despite the recent rate announcement, Loonie is poised dollar lower?

EURUSD

I have that same PB on the USDCHF 4 hour chart; my concern is that the price action on the daily looks a bit flaggish - more so than that of the EURUSD chart. The weekly/monthlies look more constructive, however.

Jacko's Forex House of Pleasure and Pain

GFT — As a veteran forex trader. I feel compelled to say to the new traders that GFT is one of the worst dealing desks I have ever experienced. There are good desks out there. Make no mistake, however - your interest as a client is not theirs. ...

GFT Forex Discussion

Update on this for anyone following...the monthly resistance has been cleared, it seems, at least in the thin market.

Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait

Do you have the email set up under Options? Actually - you're right; mine is not working either. It should be simple to fix if it's a coding issue...I'll have to take a look. Anyone esle have it working?

My MT4 modified indicators and collection

Words to live (survive) by. Toptrader feel free to PM me; we're from the same background it seems with the 4 hour plus, now employing the 1/5 min. The longer term view does seem to bear on this fine-tuned entry system.

Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait

Not much so far

Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait

Okay..we have a rather good setup on EURUSD - let's see how it develops.

Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait

USDJPY with a buy but the others not following - will likely leave that alone.

Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait

AUDUSD ... again That one's floundering a bit - like the longer term look though and will give some room.

Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait

Those worked well - all the JPY pairs fell.

Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait

Ahhh the contra sell on GBPJPY...what to do? hmmmm. Well -- 15 min Lag 2 is bullish.

Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait