GBP/JPY – Scalps

There are 2 scalps here, only amounted to a few pips, but a profit nonetheless.

I’m illustrating here that:

  1. There was an “easy target” for 20 additional pips (1st arrow)
  2. There was an aggressive target, before a sort of “2nd leg” ended

Of course the aggressive target looks great in hindsight. However, it stays true to what we’ve been doing with potential dynamic (trendline) support and resistance and potential static (horizontal) support and resistance.

That could have been 50 pips. The key with this approach is to be on top of the 30, 15 and 5 minute time frames, and be ready to scale out and set a stop loss and take profit.

The “easy target” of 15-20 pips could have absolutely have been achieved while still in Scalp Mode.

 

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GBP/JPY – Scalps

Here are 3 scalps for about 3 pips each.

The first one is shown from a different perspective in the 2nd and 3rd pictures where I first noticed a head and shoulders type pattern on a 5 minute chart (green circle).

A move I thought was possible happened to a (potential) dynamic resistance area. This could have helped  a scale out plan.

 

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GBP/JPY – Scalp

 

I’ve been going through a rough patch, but happened to locate a nice quick Short trade for 4 pips

After that, I added a Fib Retracement that could have been used for a second entry or scale out.

The stop was not thought out, just placed and might have been adjusted to an extent but price started moving down quickly.

At that time I didn’t think about the Fib option, but unless the stop was planned it would have probably been hit on the retrace, to the pip. Slight chance it wouldn’t have.

 

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Look at how the price poked through the 61.8 level, where the trend line would be.

This was nice

 

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