GBP/JPY – Scalp

 

This was a scalp for a couple of pips shown on a 1 minute chart

I’m showing the entry with what could be a hint of the move to come (swinging higher)

We need to monitor price action to determine when to NOT wait for the lower band area to be reached before taking long positions. The second image has a nice entry around the mid band, which is a 20 period moving average. Can you find it?

I’m not showing the hourly chart in this example, however it was the main reference time frame. Really, this can be considered against trend, as it was a short trade.

 

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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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