Thread: Lets Talk GBP/JPY quotthe geppyquot

Here is my scalp setup: Bollinger Band MACD Optional Pivot Points

I consider Bollinger Bands as a Frenzy Limit indior. Most of the time, when the price goes beyond the ring, alerting any news/rumor, it is likely to retreat.

I believe the MACD as an avalanche indior. In case the elevation of the MACD summit is level, I dont anticipate price to go crashing down. So I trade only when the MACD has peaked (marked with the change in colour between red/blue) and going to reverse.

After I see the price punches through the Bands, *heads up *, and I affirm it with USDJPY and GBPUSD. If all 3 charts shows no sign of any anomaly, I take a contrarian position shorting a rally, buying dip for a small 5-10 pips profit.

BTW. The market could push higher and I would add positions aka Martingale. Im not all or nothing. After clearly watching it pushing for longer, I definitely close them.

So far, works most of the time and also have made relatively good cash in the last two weeks of doing it with small 10K~50K lot sizes. There have been modest amounts, but the winners were far better. I tend to cease trading when I made strings of errors signifying bad judgement calls. Cool off next 6, and trade. Works wonders.

For the past 2 months or so, price has been bouncing off the 38.2%, 50%, and 61.8% fib amounts on the 4h chart, we also carry a triangle, after it breaksout. . We'll have a direction. 200ema (red line) has been a good resistance.

http://img259.imageshack.us/img259/7936/gjqc4.gif

It seems the majority are having the bear fever for this week and they could be correct, but I don't have that fever. On the daily chart, after the attained the 61.8% that we've been waiting for, it had been reversed and price has come back down to the 50% (235.20). When we draw a new fibo (green) from the previous bull-run from the breakout we had 2 weeks ago, the 50% fibo is directly on the daily one and price is current around there, but it could still dip to 61.8% (233.90) place before bouncing back up and most likely going to 243.50 place. Do not jump the gun and when we get a sell-off or panic selling everything that I said is useless, so be cautious, have patience and await confirmation before pulling the trigger, fantastic luck.

http://img235.imageshack.us/img235/7804/gjsi4.gif

excellent close to the day.

Along with just pivots, GJ additionally follows series which makes it exceptionally predictable, a combination

GJ went up 144 pips and dropped 89 pips out of previous day near, bothe being fib string numbers.

What's GJ so predictable ???

To answer this question, let me take two charts, one is in string format and the other one is in pivots format.


Now, what to be understood here is that the Pivot levels once broken in normal trading conditions then the next level must be attained, however in strong spike states it doesn't apply.

A careful analysis of the series pattern and pivots provides the trading pattern to be expected for the entire day ahead pr the subsequent 24 hours.


Lets say in chart 1, we have a string chart, here 89 comes closer to 210.07 about which is Pivot on the pivots chart, therefore I do anticipate GJ to go to the Pivot as commerce #1.

After this the 144 lineup is far off equally Pivot and R1, therefore this is highly improbable, so GJ will bounce in the Pivot and proceed to S1 or S2 to fill out the trend go for the afternoon.

View !!!

Commoooooooooooon currently... just a little bitty...

Originally Posted by ;

Commoooooooooooon Currently... just a Bit bitty...

it will be 207 not Only a little bitty

Fib Series is as follows

0 1 2 3 5 8 13 21 34 55?89?144?233 and so on

here each number is a sum of previous two numbers.

2 3=5
3 5=8
5 8=13

and so on

Now lets say Monday's closing was 100

the levels become
100
101
102
103
105
108
113
121
134
155
189
244

and so on

we consider the value of fib show in pip terms and either add to become upper levels or subtract to get lower levels.

Can I've 189 as GJ price ?

Originally Posted by ;

Could I have 189 as closing GJ price then?

199