GBPJPY-My Simple Day Trading Technique

Hello friends,

I am attaching my GBPJPY 1M and 15M charts.

I use stoch & AO in 1M chart and MACD, RSI with FIB in another chart.

Many of my friends wondered why I use so many indicators being a day trader. My simple reply to them, “I love having my charts colorful”; for my eyes look at only those indicators that give me signal for buying or selling. :slight_smile:

Healthy And Wealthy Trading

NB: I have tried my best to resize the image in a presentable manner but could not do it. Need some help.


That looks way to complicated for me :stuck_out_tongue:

How many pips do you average a week?

Thanks Presswood for your reply.

On an average, 400 pips a week. I can get more, if I put full time on it. But cannot ignore my first love, Gold. :slight_smile:

Healthy And Wealthy Trading.

Hey,

That looks interesting. How does your system work exactly? Entry/Exit etc…

Thanks

  1. I work on break even and if the move is strong, I let it run.
  2. I don’t trade for the heck of trading
  3. I assess mainly strengths and weakness of rise and fall with the help of MACD, AO and RSI
  4. Fib. helps me with S/R

Due to forum rules, that I wish to adhere to, I cannot display my blog link. I regularly post currency and gold charts with my analysis. There you can clearly observe the whole picture.

Healthy And Wealthy Trading

any more examples?

i only trade this currency pair

do you mind to give setting for macD, RSI and others indi??

Hi Pipster,

Sorry for the belated reply. I have modified my system and it’s really wonderful. But the only problem is babypips forum is terribly slow and the images are very small not clear for anyone to see.

I cannot post my blog links due to forum rules. I want to share my system to everyone. My system does not require any elaborate interpretation; with basic understanding of TA, one can make a huge impact with it.

Healthy And Wealthy Trading

Hi Cayok,

Sorry for the belated reply.

I use 38,63,23 and 12,26,9, that suits my day trading temperament. :slight_smile:

Besides, I have modified my system, which works tremendously well. I would love to share with you all.

Healthy And Wealthy Trading

Hi, i’m interested in your system

do you have yahoo messenger or msn that i can contact you with?

Hi GTA,

Thanks for your msg.

I don’t know whether forum rules permit me to provide, my IM ids. I ve posted a pvt. msg for u. pl. check.

Healthy And Wealthy Trading

hi sureba, thanks for the quick reply! i added you on yahoo.

looking forward to chatting with you!

Hello Friends,

I am presenting here my fav. pair, GBPJPY 1M chart. This is today’s chart.

Every system is unique and may not suit everyone. I always thrive hard to make my system simpler and powerful to suit my temperament. :slight_smile:

Healthy And Wealthy Trading


hi

i also like your system, would you mind to share indicators and settings ?

how about entry and exit.

thanks alot.

Leslie

[QUOTE=lesliekuang;102319]hi

i also like your system, would you mind to share indicators and settings ?

Hi Leslie,

Thx for your msg. I would love to share the indicators I use.

I use, Rainbow for MT4, MACD, AO and EMAs. I would advise you to select your own settings that would suit your temperament and trading style.

Observe it for few days, you yourself will be able to determine your entry and exit points. If you need any more clarification, pl. don’t hesitate to msg. me.

I only follow GBPJPY and USDCHF.

Healthy And Wealthy Trading

hi

thanks alot. i will follow according, and develop my own strategy.

thanks again.

Leslie

Hello Friends,

GBPJPY

Supports: 142.59, 142.36, 142.11
Resistances: 143.22, 143.66

Healthy And Wealthy Trading

Hello friends,

Here are my today’s supports and resistances.

Supports: 142.52, 141.63
Resistances: 143.93, 144.51

Healthy And Wealthy Trading

Hello Friends,

Hope all of you had a nice weekend. :slight_smile:

The last leg of today’s fall has been with less than expected strength. I expect some pull back.

My today’s supports & resistances.

Supports: 140.58, 140.13
Resistances: 141.32, 141.89

Healthy And Wealthy Trading

Sureba67


Hello friends,

I am sure, you would have made good use this spectacular rally on GBPJPY. :slight_smile:

I expect a good correction from here, as I feel Pound is trying to take a respite. I wold exercise caution at these levels.

My supports: 145.13, 144.42, 143.63; Resistances: 146.92, 148.02

Healthy And Wealthy Trading