I’m adding 159.60 to my chart as a scalp line.
I would have liked it to trend down a little more, but 225 pips over 6 candles is good enough for me. 
haha!! are you referring to me?! haha!! I asked that question before!!
Which pair are you referring to? GBPJPY?
phil,im sorie but do u mind posting ur charts? i would like to see ur s&r line n scalp line cos im alot confused here…im still confused to place my s&r lines n scalp lines…
One question, does H4 SR lines work on any pairs? SL=TP=ATR(1) / 6?
How did you find the daily ATR? I used the indicator in mt4, and it shows a graph ATR(1) = 0.0104?
Yeah, it looks very good now (about 300 pips now). I’ll definitely be alert once it gets to +40 or so as it will be approaching the vicinity of the 160.30 line that both Nick and Metalhawk have – there is definite resistance there, that price was hit from both sides throughout the month.
The funny thing about all those ToddWeek “I can’t think without Tro’s help” posts is that Tro is probably sitting someplace right now creating a post on Kreslik to inform his loyal followers that we are all ignoring ToddWeek and this somehow makes him brilliant. God forbid anyone should actually want to LEARN about price action.:rolleyes:
Yes, sorry… 159.60 on GBP/JPY.
That’s right, in that case the ATR would be 104 pips, since 0.0001 = 1 pip. 
I don’t mind at all. Here’s is my current GBP/JPY scalp line chart…
And here is my S+R chart. I mark my S+R as “zones” instead of lines. I’m considering everything between the blue lines as a S+R zone, but if you prefer single lines just find the strongest point inside my zone and use it.
Personally I like 159.60 better due to the clear move to and away, but I will be watching as it approaches the 160.30 line. I think it will hit TP before being affected, but this is a case where I will probably at least move my stop to BE once I get around +30 or so just in case (also be wary of 160).
160.30 to me is not a scalp line, it is s/r. It was used as resistance on June 3, as support on June 12 (both of those actually 160.45) and then resistance again on June 16. It is tradeable but personally I think it is more likely to reverse from there rather than break through this time around. The move to 160.36 was a very very quick spike (just a wick even on 15m) and bounce, so there’s a good probability of lots of sells left up there.
OMG!! 104 / 6 = 17 pips SL/TP?!
haha! does it make sense?..hmmmmm,
How do you make use of S+R zone in your trading? Scalp lines = SL/TP=50
SR Zones = SL/TP = 100? 
haha!
I see people asking about how to figure what target you should go for for a scalp line on a different pair. Are you really that lazy? Go read the e-book it’s a whopping 43 pages long. It tells you what to divide the ADR buy for scalps and historical S&R, and market conditions. Do a little work for yourself. Your brain may shut down if you don’t use it once in a while, lol.
I know that. I have read the book. The books only tells you a theoretical estimation. I would prefer to get this info from traders already trading the pair. They have adjusted to suit the current levels.
Lots of people here are trading scalp lines on other pairs, but I don’t remember anyone here mentioning they trade scalps on EUR/USD.
The lack of responses just means that we’re as clueless as you are…
I wouldn’t use an ATR(1) for that calculation though, one day isn’t enough to tell current market conditions. It could have been an abnormal day yesterday.
I’d go with an ATR(14).
I use them along with trendlines, candle formations, chart patterns, etc…
It’s too complicated for a forum post. I’d have to write a book to explain it all.
Chart patterns…hmmmm, that got me thinking, I think I read it, 30 pips a day thread here, I’ll do a search on it,