Because I am short with a significant position short on the EY, I may be looking to the GY to form a synthetic hedge to ride price back up in the short term. The yen crosses usually move together during the asian session so I have my eyes on it.

Scalping the pip out of it

Looks like price is ready to bounce up a little. THat 61 fib is a great indicator with over sold stochs on the 1 and 4 hour charts. Not a clear entry on the 5 or 15 so I may want to take my time before jumping in against the trend but I am ...

Scalping the pip out of it

This is the benefit of trading in the direction of the trend. That scalp has a lot more help with the trend so the trade is still developing!

Scalping the pip out of it

Got out with 20 pips! Not bad little scalp. Price has been coming down all night so I dont really want to be adding to my Right now I am up 179 pips from my EY positions that i am holding from the last couple of days. Price action is engaging the ...

Scalping the pip out of it

This is another short opportunity on the EY. I am already short from the last few days so I am adding to existing positions. I love to get back in on the trend when I see low risk setups. I am short the yen crosses from some technicals on the higher ...

Scalping the pip out of it

So I put in my stop and profit limit and went to bed. I got stopped out 15 pips. Although this trade didnt work out, my loss was small. My stop got filled almost to the pip. Oh well, it happens. I dont think it was a bad look. Maybe I should have ...

Scalping the pip out of it

So price has broken through. Because of the choppy nature of the session, I am not going to average down. It is important for me to observe the timing of the market when making decisions.

Scalping the pip out of it

So price did not go high enough for me to average down on it. I am still at my original entry, but it looks like price did get caught from continuing through. I am changing my outlook, If price gives me a small move down I will get out. As price ...

Scalping the pip out of it

I am picking up a short on the USD/CAD. Hits at a 74% fib and its topped out on stochs and rsi. We will see if this one just blows through or not. I have about a 25 pip stop loss on this one. In the time it took me to create this post it has turned ...

Scalping the pip out of it

So we have a broken swing low. The grey tag is my stop loss for my additional short. Because all my positions are short they average down, but I pust a conditional stop buy for the amount of the recent short to effectively stop out the recent short ...

Scalping the pip out of it

Got a decent drop. About 20 pips on the EY. I am expecting to get in with a breakeven stoploss and hold this position with any other yen cross shorts for the next few days. Hopefully price action will break to a new swing low and I can relax.

Scalping the pip out of it

Got in short on this again. Price action came back up to the 50 EMA on the 15 minute chart. Stochs overbought on 5 and 15. My overall bias is short on yen crosses, so I need less indicators to get in the direction of the trend.

Scalping the pip out of it

It did get a decent bounce. Exited before the 50% fib. Not bad for a counter trend trade. Now I will probably be looking for a continuation...

Scalping the pip out of it

I am posting some more screenshots of what I am seeing. I am just getting back into trading after a long hyatis and I am interested in sharing some of my thoughts. If you have any thoughts of your own please share We have price collapse coming ...

Scalping the pip out of it

Sweet trade! — Seriously that is a great move. It is so good to see someone banking 80 on a trade.... This is how to do it! Good look on previous S&R stoch and fib! You obviously understand the value of confluence, Now if we can get some more ...

Scalping the pip out of it

I dont trade channel breakouts so I am not really familliar with how sound the idea is but I do like the overall 50% fib from the last two day run up. I am actually long EU from 1.1973 witha stop below1.1960

Scalping the pip out of it

I think that was a good looking trade. I actually took a video capture of it, only got like 15 pips but I was liking the way that it looked. Guess there was more pressure that needed to sell off first

Scalping the pip out of it

Scalp setup — Here is another one. Fib at the 200ema with stochs overbought. I think that there is some more than normal buying here but I still like the double top at the safest fib..... Lets see how this one plays out! 25 pips

Scalping the pip out of it

Video Blog — Hello all... I want to share with you my videos documenting some of my trades. My web address is http://phoenixforex.org/index.php/blog/ I am in the process of putting up the video of the Eur/Jpy trade that I took today. If you ...

Scalping the pip out of it

A quick follow up on exiting trades — I wanted to quickly touch on exiting trades. There is a lot of criteria for entering trades but there doesnt seem to be as much on exiting trades. This can be a big problem. For instance, this trade. This ...

Scalping the pip out of it