Closed trade opened on October 16 at 116.77 on USD/JPY for +275.
Price has started moving sideways with a high low formed and a lower high.
H4
AH
Hey there elang.
Lurking about here. Ive read over your first few posts on this thread. Im using a very similar system to you but mainly on AUD/JPY dailys.
I havent read over the whole thread (might do though, it should be interesting).
I dont use the 25 EMA. That’s a nice little thing that I might have to spend some time working looking over that. Apart from that, the only real difference is that I dont use stochastic for exits, but use Heiken-Ashi instead.
Great minds 
Cheers
Hello,
I have been using your 2550 system lately and I just had a couple questions I was hoping you could answer. First, could I show profit in taking only 50ema cross entries? I am debating not doing any re-entries based on the 25ema until I can show a consistant profit. Also, if I am just starting should I limit myself to only trading the 4hr? And what do you think my starting account should be in dollars?
[I]"Bearish corrective price action has terminated at the 61.8% retracement from 251.121 to 219.23 at 239.00. Price retreat has developed steadily breaking through daily support at 235.50, promoting the continuation of the fall started at 251.12 in a bearish impulse.
As long as price action maintains progressive bearish ground below 235.50 further decline is expected to continue to minor support of 232.50 from which two scenarios will possibly branch into existence:
[B][U] BEARISH[/U]
1.Profit taking bearish impulsive correction (minor) starting at the 232.50 (D of corrective ABC) expected to terminate around the 236.70 area before the resumption of another bearish impulsive wave (minor) in perspective to impulsive fall from 240.68/238.00 (major) which should proceed towards Daily Support around the 229.00 area.[/B]
BULLISH
2.Bearish impulsive corrective retracement progresses higher than expected and terminates the current fall.
Price action above 235.50 >> 237.42 will conccur to this sentiment.
Corrective retracement from 251.00 resumes breaking 240.63 in (E) of regular ABC corrective pattern confirming a new Bullish trend."[/I]
Considering the nature of the consolidation we’ve had in the past week, im inclined to technically assume a retracement much larger than expected and its extremely possible that Bearish scenario 2 as stated last week comes into play and the bulls run for 240.63 in an attempt to establish a new bullish trend.
Bullish Scenario 2 having taken place in movement E failed to make a new high capping out at daily resistance and the 150% profit taking level.
The dark cloud cover pattern created failed to be confirmed to the downside by the bears on Friday but the lack of intent from the bulls also failed to invalidate the pattern by closing/opening above it’s highs.
Price was dumped over the weekend and Mondays candle opened inside Fridays candle forming a bearish harami for the moment.
If price closes as a harami today we will have a confirmation of downward decision. Not excluded is the fact that price may close well below the low today confirming the movement lower and forming a poetic engulfing bearish candle.
At this point the sentiment has shifted from neutral to bearish.
Regards,
E. Lang
[B]GBP/JPY Short (Daily)[/B]
Entry: 237.37
SL: 240.35
PENDING
As always with trades that require a wide SL due to the TF of application, reduce your lot size respectably to maintain a standard loss ratio.
If the trade goes our way we will pile lots on correction on minor time frames.
elang…i am late to this thread. bummer for me, looks like you have been raining pips for a couple of weeks or so. anyway, my question isn’t system related, but i wonder how you got that little indicator on your chart that tells you how much time until the next bar begins. that would be a handy tool to have. any suggestions on where to get it. is it a standard mt4 indicator? thanks for the help.
stacy, florida, usa
Hey Stacy,
Why don’t you add me to Skype: effilang
And i’ll send you that.
Regards,
E. Lang
elang – you gonna rat me out, here, expose me for the technological ignorant that i am. because, i am embarrassed to say that i don’t have a skype account, nor do i know what skype is. is it some sort of IM system, because i have yahoo IM. we can use that, right?
stacy
Thats the last thing that should be embarassing 
Worthy of repetitive butt spanking yes, but embarassing, no 
Yahoo Messenger: <[email protected]> (NOT E-MAIL)
Regards,
E. Lang
butt spanking only if you are a girl…i sent you an IM on yahoo. thanks again.
stacy
Hi guys,
I just read this thread but i am a little confused about the entry rules:
to go long wait for a candle to open or close above EMA 50, combined with RSI>50.
It happens so often that a candle opens or closes above/below this EMA 50 so what else do you look for to take the trade? Support/resistance or do you take the trade only if the next candle is above the prevous one? To me it looks like you get so many fake signals or am I wrong?
Well if EMA is above 50 then RSI will be > 50 in 99% of the times, so that doesn’t really filter out any trades.
The results look awesome so I am really interested in this system.
Looking forward to your answers.
Regards
Here is a short summary on the consolidative range we’ve had on this pair the past few days.
Candlesticks are the language of the market.
Think of each candlestick pattern as the individual letter in an alphabet, the more you learn, the more words you can read and the more vivid becomes the story before you.
BOO!
Hey Effi,
Happy Birthday!
NOFX
[B]GBP/JPY Short (Daily)[/B]
Entry: 237.37
SL: 240.35
TRIGGERED
As always with trades that require a wide SL due to the TF of application, reduce your lot size respectably to maintain a standard loss ratio.
If the trade goes our way we will pile lots on correction on minor time frames.
We are floating at [B]+455[/B] Pips now and testing Pivot Point Support 3.
Take profit if you have to now
Our Manual Trailing Point is just above 234.17 on M30 at 234.35
Hope you had the stomach to hold the trade out.
PS: Thanx for all the birthday wishes guys! I really appreciate it and i’m happy to see everyone trading 2550 and making money. 
Regards.
E. Lang
[B]+600[/B] PiPs
New MTP: 232.84 (Short Term)
No Long Term MTP (Manual Trailing Point) available as of now.
We have an inverted hammer followed by a hammer forming on H1. This could call major profit taking depending on how the current candle closes and how the candle after it confirms.
Regards.
E. Lang
up
this thread is not be be forgotten. updates anyone ?
let me start:
bought GBPCHF at 2.2990. signal triggered.
How is everyone doing with this system? From what I’ve read, it seems pretty solid.
Any new ideas?
Thank you for bumping this–finally something that looks like it can tackle the gbpjpy beast
E. lang,
I have gone through the thread and I think that your system is easy to understand and straight forward. You mentioned about using 4hr chart. Is there any problem if I use I day or daily chart?
I am using oanda and it has no 4 hr on the chart. The closest chart is 3 hr. I also saw your trades. Are you a swing trader or day trader. How long do you keep your open? How many hours or days?
Thanks for this system. It’s one of the easiest to use I’ve seen so far. I am still a Forex newbie but I’ve actually made money with this system. I initially started a mini account with $500 last year sometime and by June it was down to $93 and I couldn’t trade anymore. Last week I put another $100 in my account and since then my account balance has went from $193 to $821 in a matter of a few days (especially since there was no trading on Tuesday). Also I’m kind of a chart watcher so I have traded off the 5 minute chart on GBP/JPY and obviously it’s worked pretty well so far. There are a few fakeouts here and there but more often than not it works.
Thanks again.